v3.25.1
Note 5 - Net Trading
3 Months Ended
Mar. 31, 2025
Notes to Financial Statements  
Trading Activities [Text Block]

5. NET TRADING 

 

Net trading consisted of the following in the periods presented.



NET TRADING

(Dollars in Thousands)

 

  

Three Months Ended March 31,

 
  

2025

  

2024

 

Net realized gains (losses) - trading inventory

 $4,228  $5,415 

Net unrealized gains (losses) - trading inventory

  625   966 

Net gains and losses

  4,853   6,381 
         

Interest income- trading inventory

  830   1,407 

Interest income-reverse repos

  9,541   7,879 

Interest income

  10,371   9,286 
         

Interest expense-repos

  (8,502)  (7,095)

Interest expense-margin payable

  (651)  (1,396)

Interest expense

  (9,153)  (8,491)
         

Other trading revenue

  3,140   2,672 
         

Net trading

 $9,211  $9,848 

 

Trading inventory includes investments classified as investments-trading as well as trading securities sold, not yet purchased.  See note 7.  For discussion of margin payable, see note 6.  Other trading revenue includes revenue earned from our agency repo business (see note 10).