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Investment Securities (Tables) | 12 Months Ended
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Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract] |
Schedule of Available-for-sale Investment Securities | Our available-for-sale investment securities were as follows:
| Amortized cost |  | Gross unrealized gains |  | Gross unrealized losses |  | Fair value
| (In thousands)
December 31, 2024 |
Corporate bonds | $ | 10,000 |  |  | $ | — |  |  | $ | (110) |  |  | $ | 9,890 |
Agency bond securities | 240,628 |  |  | — |  |  | (38,132) |  |  | 202,496 |
Agency mortgage-backed securities | 2,121,037 |  |  | 3 |  |  | (323,467) |  |  | 1,797,573 |
Municipal bonds | 29,116 |  |  | — |  |  | (6,273) |  |  | 22,843 |
Total investment securities | $ | 2,400,781 |  |  | $ | 3 |  |  | $ | (367,982) |  |  | $ | 2,032,802 |
December 31, 2023 |  |  |  |  |  |  |
Corporate bonds | $ | 10,000 |  |  | $ | — |  |  | $ | (374) |  |  | $ | 9,626 |
Agency bond securities | 240,447 |  |  | — |  |  | (40,217) |  |  | 200,230 |
Agency mortgage-backed securities | 2,337,411 |  |  | — |  |  | (333,901) |  |  | 2,003,510 |
Municipal bonds | 29,408 |  |  | — |  |  | (5,773) |  |  | 23,635 |
Total investment securities | $ | 2,617,266 |  |  | $ | — |  |  | $ | (380,265) |  |  | $ | 2,237,001 |
Schedule of Available-for-sale Securities, Unrealized Loss Position | As of December 31, 2024 and 2023, the gross unrealized losses and fair values of available-for-sale investment securities that were in unrealized loss positions were as follows:
| Less than 12 months |  | 12 months or more |  | Total fair value |  | Total unrealized loss
| Fair value |  | Unrealized loss |  | Fair value |  | Unrealized loss |  |
| (In thousands)
December 31, 2024 |
Corporate bonds | $ | — |  |  | $ | — |  |  | $ | 9,890 |  |  | $ | (110) |  |  | $ | 9,890 |  |  | $ | (110) |
Agency bond securities | — |  |  | — |  |  | 202,496 |  |  | (38,132) |  |  | 202,496 |  |  | (38,132) |
Agency mortgage-backed securities | 15,311 |  |  | (937) |  |  | 1,781,301 |  |  | (322,530) |  |  | 1,796,612 |  |  | (323,467) |
Municipal bonds | — |  |  | — |  |  | 22,843 |  |  | (6,273) |  |  | 22,843 |  |  | (6,273) |
Total investment securities | $ | 15,311 |  |  | $ | (937) |  |  | $ | 2,016,530 |  |  | $ | (367,045) |  |  | $ | 2,031,841 |  |  | $ | (367,982) |
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |
Corporate bonds | $ | — |  |  | $ | — |  |  | $ | 9,626 |  |  | $ | (374) |  |  | $ | 9,626 |  |  | $ | (374) |
Agency bond securities | — |  |  | — |  |  | 200,230 |  |  | (40,217) |  |  | 200,230 |  |  | (40,217) |
Agency mortgage-backed securities | — |  |  | — |  |  | 2,001,270 |  |  | (333,901) |  |  | 2,001,270 |  |  | (333,901) |
Municipal bonds | — |  |  | — |  |  | 23,636 |  |  | (5,773) |  |  | 23,636 |  |  | (5,773) |
Total investment securities | $ | — |  |  | $ | — |  |  | $ | 2,234,762 |  |  | $ | (380,265) |  |  | $ | 2,234,762 |  |  | $ | (380,265) |
Schedule of Maturity Dates for Available-for-Sale Investment Securities | As of December 31, 2024, the contractual maturities of our available-for-sale investment securities were as follows:
| Amortized cost |  | Fair value
| (In thousands)
Due in one year or less | $ | 24,273 |  |  | $ | 24,152 |
Due after one year through five years | 98,403 |  |  | 87,908 |
Due after five years through ten years | 117,225 |  |  | 96,543 |
Due after ten years | 54,116 |  |  | 40,888 |
Mortgage and asset-backed securities | 2,106,764 |  |  | 1,783,311 |
Total investment securities | $ | 2,400,781 |  |  | $ | 2,032,802 |

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