Quarterly report [Sections 13 or 15(d)]

Interest Income and Interest Expense

v3.25.2
Interest Income and Interest Expense
 6 Months Ended
Jun. 30, 2025
Banking and Thrift, Interest [Abstract]  
Interest Income and Interest Expense Interest Income and Interest Expense
The following table presents the components of the Company’s interest income and interest expense for the three and six months ended June 30, 2025 and 2024:
Three Months Ended Six Months Ended
June 30, June 30,
2025 2024 2025 2024
Interest income:
Available-for-sale securities $ 108,842  $ 99,211  $ 209,260  $ 199,816 
Mortgage loans held-for-sale 145  3  198  4 
Other 8,095  16,739  19,006  33,916 
Total interest income 117,082  115,953  228,464  233,736 
Interest expense:
Repurchase agreements 110,288  113,714  217,366  232,430 
Revolving credit facilities 20,343  29,906  40,469  60,153 
Warehouse lines of credit
 129  —  184  — 
Term notes payable —  6,008  —  12,426 
Senior notes 1,496  —  1,496  — 
Convertible senior notes 4,445  4,579  8,900  9,198 
Total interest expense 136,701  154,207  268,415  314,207 
Net interest expense
 $ (19,619) $ (38,254) $ (39,951) $ (80,471)