Quarterly report [Sections 13 or 15(d)]

Interest Income and Interest Expense (Tables)

v3.25.3
Interest Income and Interest Expense (Tables)
9 Months Ended
Sep. 30, 2025
Banking and Thrift, Interest [Abstract]  
Schedule of Interest Income and Interest Expense
The following table presents the components of the Company’s interest income and interest expense for the three and nine months ended September 30, 2025 and 2024:
Three Months Ended Nine Months Ended
September 30, September 30,
2025 2024 2025 2024
Interest income:
Available-for-sale securities $ 83,763  $ 101,067  $ 293,023  $ 300,883 
Mortgage loans held-for-sale 125  25  323  29 
Other 9,727  11,550  28,733  45,466 
Total interest income 93,615  112,642  322,079  346,378 
Interest expense:
Repurchase agreements 89,891  123,552  307,257  355,982 
Revolving credit facilities 19,142  26,873  59,611  87,026 
Warehouse lines of credit
111  11  295  11 
Term notes payable —  —  —  12,426 
Senior notes 2,884  —  4,380  — 
Convertible senior notes 4,517  4,495  13,417  13,693 
Other
575  —  575  — 
Total interest expense 117,120  154,931  385,535  469,138 
Net interest expense
$ (23,505) $ (42,289) $ (63,456) $ (122,760)