v3.25.1
Fair value measurement
 3 Months Ended
Mar. 31, 2025
Fair Value Disclosures  
Fair Value Measurement
Note 23 – Fair value measurement
ASC Subtopic
 
820-10 “Fair
 
Value
 
Measurements
 
and Disclosures”
 
establishes
 
a fair
 
value
 
hierarchy
 
that prioritizes
 
the inputs
 
to
valuation techniques
 
used to
 
measure fair
 
value
 
into three
 
levels
 
in order
 
to increase
 
consistency
 
and comparability
 
in fair
 
value
measurements and disclosures. The hierarchy is broken down into three levels based on the reliability of inputs as
 
follows:
●
Level 1
- Unadjusted quoted prices in
 
active markets for identical assets
 
or liabilities that the Corporation
 
has the ability to
access at
 
the measurement
 
date. Valuation
 
on these
 
instruments does
 
not necessitate
 
a significant
 
degree of
 
judgment
since valuations are based on quoted prices that are readily available in an active market.
●
Level 2
- Quoted prices other than
 
those included in Level 1
 
that are observable either directly
 
or indirectly.
 
Level 2 inputs
include
 
quoted
 
prices
 
for
 
similar
 
assets
 
or
 
liabilities
 
in
 
active
 
markets,
 
quoted
 
prices
 
for
 
identical
 
or
 
similar
 
assets
 
or
liabilities
 
in
 
markets
 
that
 
are
 
not
 
active,
 
or
 
other
 
inputs
 
that
 
are
 
observable
 
or
 
that
 
can
 
be
 
corroborated
 
by
 
observable
market data for substantially the full term of the financial instrument.
●
Level
 
3
-
 
Inputs
 
are
 
unobservable
 
and
 
significant
 
to
 
the
 
fair
 
value
 
measurement.
 
Unobservable
 
inputs
 
reflect
 
the
Corporation’s own judgements about assumptions that market participants would use in pricing the asset
 
or liability.
The
 
Corporation
 
maximizes
 
the
 
use
 
of
 
observable
 
inputs
 
and
 
minimizes
 
the
 
use
 
of
 
unobservable
 
inputs
 
by
 
requiring
 
that
 
the
observable inputs be
 
used when available.
 
Fair value is
 
based upon quoted
 
market prices when
 
available. If listed
 
prices or quotes
are
 
not
 
available,
 
the
 
Corporation
 
employs
 
internally-developed
 
models
 
that
 
primarily
 
use
 
market-based
 
inputs
 
including
 
yield
curves, interest
 
rates, volatilities,
 
and credit
 
curves, among
 
others. Valuation
 
adjustments are
 
limited to
 
those necessary
 
to ensure
that the financial
 
instrument’s fair value
 
is adequately representative
 
of the price
 
that would be
 
received or paid
 
in the marketplace.
These adjustments include
 
amounts that reflect counterparty
 
credit quality,
 
the Corporation’s credit
 
standing, constraints on liquidity
and unobservable parameters that
 
are applied consistently.
 
There have been no changes
 
in the Corporation’s
 
methodologies used
to estimate the fair value of assets and liabilities from those disclosed in the 2024 Form 10-K.
The estimated
 
fair value
 
may be
 
subjective in
 
nature and
 
may involve
 
uncertainties and
 
matters of
 
significant judgment
 
for certain
financial instruments. Changes in the underlying assumptions used in calculating fair value could significantly affect
 
the results.
Fair Value on a Recurring and Nonrecurring Basis
The following fair
 
value hierarchy tables
 
present information about
 
the Corporation’s assets
 
and liabilities measured
 
at fair value
 
on
a recurring basis at March 31, 2025 and December 31, 2024:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
At March 31, 2025
(In thousands)
Level 1
Level 2
Level 3
Measured at NAV
Total
RECURRING FAIR VALUE MEASUREMENTS
Assets
 
 
 
 
 
 
Debt securities available-for-sale:
U.S. Treasury securities
$
8,601,447
$
5,672,521
$
-
$
-
$
14,273,968
Collateralized mortgage obligations - federal
agencies
-
115,859
-
-
115,859
Mortgage-backed securities
-
5,102,146
457
-
5,102,603
Other
-
-
750
-
750
Total debt securities available-for-sale
$
8,601,447
$
10,890,526
$
1,207
$
-
$
19,493,180
Trading account debt securities, excluding
derivatives:
U.S. Treasury securities
$
8,524
$
10
$
-
$
-
$
8,534
Obligations of Puerto Rico, States and political
subdivisions
-
53
-
-
53
Collateralized mortgage obligations
-
636
-
-
636
Mortgage-backed securities
-
19,043
84
-
19,127
Other
-
-
127
-
127
Total trading account debt securities, excluding
derivatives
$
8,524
$
19,742
$
211
$
-
$
28,477
Equity securities
$
-
$
45,129
$
-
$
407
$
45,536
Mortgage servicing rights
-
-
104,743
-
104,743
Loans held-for-sale
-
5,077
-
-
5,077
Derivatives
 
-
20,828
-
-
20,828
Total assets measured at fair value on a
recurring basis
$
8,609,971
$
10,981,302
$
106,161
$
407
$
19,697,841
Liabilities
Derivatives
$
-
$
(19,523)
$
-
$
-
$
(19,523)
Total liabilities measured at fair value on a
recurring basis
$
-
$
(19,523)
$
-
$
-
$
(19,523)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
At December 31, 2024
(In thousands)
Level 1
Level 2
Level 3
Measured at NAV
Total
RECURRING FAIR VALUE MEASUREMENTS
Assets
 
 
 
 
 
Debt securities available-for-sale:
U.S. Treasury securities
$
7,512,171
$
5,482,939
$
-
$
-
$
12,995,110
Collateralized mortgage obligations - federal
agencies
-
120,284
-
-
120,284
Mortgage-backed securities
-
5,127,775
484
-
5,128,259
Other
-
-
2,250
-
2,250
Total debt securities available-for-sale
$
7,512,171
$
10,730,998
$
2,734
$
-
$
18,245,903
Trading account debt securities, excluding
derivatives:
U.S. Treasury securities
$
2,814
$
10
$
-
$
-
$
2,824
Obligations of Puerto Rico, States and political
subdivisions
-
55
-
-
55
Collateralized mortgage obligations
-
655
-
-
655
Mortgage-backed securities
-
29,032
84
-
29,116
Other
-
-
133
-
133
Total trading account debt securities, excluding
derivatives
$
2,814
$
29,752
$
217
$
-
$
32,783
Equity securities
$
-
$
45,664
$
-
$
381
$
46,045
Mortgage servicing rights
-
-
108,103
-
108,103
Loans held-for-sale
-
5,423
-
-
5,423
Derivatives
 
-
26,023
-
-
26,023
Total assets measured at fair value on a
recurring basis
$
7,514,985
$
10,837,860
$
111,054
$
381
$
18,464,280
Liabilities
 
 
 
Derivatives
$
-
$
(22,832)
$
-
$
-
$
(22,832)
Total liabilities measured at fair value on a
recurring basis
$
-
$
(22,832)
$
-
$
-
$
(22,832)
Loans held-for-sale measured at fair value
 
Loans held-for-sale measured at fair value were priced based on secondary market prices. These loans are classified as
 
Level 2.
The
 
following
 
tables
 
summarize
 
the
 
difference
 
between
 
the
 
aggregate
 
fair
 
value
 
and
 
the
 
aggregate
 
unpaid
 
principal
 
balance
 
for
mortgage loans originated as held-for-sale measured at fair value as of March 31, 2025 and December 31, 2024.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(In thousands)
March 31, 2025
Aggregate Unpaid
Fair Value
Principal Balance
Difference
Loans held for sale
$
5,077
$
4,938
$
139
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(In thousands)
December 31, 2024
Aggregate Unpaid
Fair Value
Principal Balance
Difference
Loans held for sale
$
5,423
$
5,436
$
(13)
No
 
loans held-for-sale were 90 or more days past due or on nonaccrual status as of March 31, 2025 and December
 
31, 2024.
The fair value information included in the following tables is not as of period end, but as of the date that the fair value measurement
was recorded during the quarters ended March 31, 2025 and 2024 and excludes nonrecurring fair value measurements
 
of assets no
longer outstanding as of the reporting date.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarter ended March 31, 2025
(In thousands)
Level 1
Level 2
Level 3
Total
NONRECURRING FAIR VALUE MEASUREMENTS
Assets
 
 
 
 
 
Write-downs
Loans
[1]
$
-
$
-
$
4,167
$
4,167
$
(362)
Other real estate owned
[2]
-
-
2,018
2,018
(485)
Other foreclosed assets
[2]
-
-
133
133
(76)
Total assets measured at fair value on a nonrecurring basis
$
-
$
-
$
6,318
$
6,318
$
(923)
[1] Relates mainly to certain impaired collateral dependent loans.
 
The impairment was measured based on the fair value of the collateral, which is
derived from appraisals that take into consideration prices in observed transactions involving similar assets in
 
similar locations. Costs to sell are
excluded from the reported fair value amount.
[2] Represents the fair value of foreclosed real estate and other collateral owned that were written down to their fair
 
value. Costs to sell are
excluded from the reported fair value amount.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarter ended March 31, 2024
(In thousands)
Level 1
Level 2
Level 3
Total
NONRECURRING FAIR VALUE MEASUREMENTS
Assets
 
 
 
 
 
Write-downs
Loans
[1]
$
-
$
-
$
110
$
110
$
(2,172)
Other real estate owned
[2]
-
-
1,416
1,416
(224)
Other foreclosed assets
[2]
-
-
105
105
(41)
Total assets measured at fair value on a nonrecurring basis
$
-
$
-
$
1,631
$
1,631
$
(2,437)
[1] Relates mainly to certain impaired collateral dependent loans.
 
The impairment was measured based on the fair value of the collateral, which is
derived from appraisals that take into consideration prices in observed transactions involving similar assets in
 
similar locations. Costs to sell are
excluded from the reported fair value amount.
[2] Represents the fair value of foreclosed real estate and other collateral owned that were written down to their fair
 
value. Costs to sell are
excluded from the reported fair value amount.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarter ended March 31, 2025
MBS
Other
MBS
Other
classified
securities
classified
securities
as debt
classified as
 
as trading
classified
securities
 
debt securities
account
as trading
Mortgage
available-
available-
 
debt
account debt
servicing
Total
(In thousands)
for-sale
for-sale
securities
securities
rights
assets
Balance at December 31, 2024
$
484
$
2,250
$
84
$
133
$
108,103
$
111,054
Gains (losses) included in earnings
-
-
-
(6)
(3,570)
(3,576)
Gains (losses) included in OCI
(2)
-
-
-
-
(2)
Additions
-
-
-
-
210
210
Settlements
(25)
-
-
-
-
(25)
Transfers out of Level 3
-
(1,500)
-
-
-
(1,500)
Balance at March 31, 2025
$
457
$
750
$
84
$
127
$
104,743
$
106,161
Changes in unrealized gains (losses) included in
earnings relating to assets still held at March 31,
2025
$
-
$
-
$
-
$
9
$
(1,325)
$
(1,316)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarter ended March 31, 2024
MBS
Other
Other
classified
securities
CMOs
MBS
securities
as debt
classified as
classified
classified
classified
securities
debt securities
as trading
as trading
as trading
Mortgage
available-
available-
account debt
account debt
account debt
servicing
Total
(In thousands)
for-sale
for-sale
securities
securities
securities
rights
assets
Balance at December 31, 2023
$
606
$
2,500
$
5
$
112
$
167
$
118,109
$
121,499
Gains (losses) included in earnings
-
(500)
-
-
(1)
(3,439)
(3,940)
Gains (losses) included in OCI
1
-
-
-
-
-
1
Additions
-
-
-
-
-
294
294
Settlements
-
-
(5)
(28)
-
-
(33)
Balance at March 31, 2024
$
607
$
2,000
$
-
$
84
$
166
$
114,964
$
117,821
Changes in unrealized gains (losses)
included in earnings relating to assets
still held at March 31, 2024
$
-
$
(500)
$
-
$
-
$
2
$
(1,202)
$
(1,700)
Gains and losses (realized and
 
unrealized) included in earnings
 
for the quarters ended March
 
31, 2025 and 2024 for
 
Level 3 assets
and liabilities included in the previous tables are reported in the consolidated statements of operations as follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarter ended March 31, 2025
Quarter ended March 31, 2024
Changes in unrealized
Changes in unrealized
Total gains
gains (losses) relating to
Total gains
gains (losses) relating to
(losses) included
assets still held at
(losses) included
assets still held at
(In thousands)
in earnings
reporting date
in earnings
reporting date
Mortgage banking activities
$
(3,570)
$
(1,325)
$
(3,439)
$
(1,202)
Trading account (loss) profit
(6)
9
(1)
2
Provision for credit losses
-
-
(500)
(500)
Total
 
$
(3,576)
$
(1,316)
$
(3,940)
$
(1,700)
The following
 
tables include
 
quantitative information
 
about significant
 
unobservable inputs
 
used to
 
derive the
 
fair value
 
of Level
 
3
instruments, excluding
 
those instruments
 
for which
 
the unobservable
 
inputs were
 
not developed
 
by the
 
Corporation such
 
as prices
of prior transactions and/or unadjusted third-party pricing sources at March 31, 2025 and 2024.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fair value at
 
March 31,
(In thousands)
2025
Valuation technique
Unobservable inputs
Weighted average (range) [1]
Other - trading
$
127
Discounted cash flow model
Weighted average life
2
 
years
Yield
12
.0%
Prepayment speed
10.8
%
Loans held-in-portfolio
$
4,167
[2]
External appraisal
Haircut applied on
external appraisals
7.5
% (
5.0
% -
10.0
%)
[1]
 
Weighted average of significant unobservable inputs used to develop Level 3 fair value measurements were calculated by relative
 
fair value.
[2]
Loans held-in-portfolio in which haircuts were not applied to external appraisals were excluded from this table.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fair value at
 
March 31,
(In thousands)
2024
Valuation technique
Unobservable inputs
Weighted average (range) [1]
Other - trading
$
166
Discounted cash flow model
Weighted average life
2.3
 
years
Yield
12
.0%
Prepayment speed
10.8
%
Loans held-in-portfolio
$
110
[2]
External appraisal
Haircut applied on
external appraisals
10
.0%
[1]
 
Weighted average of significant unobservable inputs used to develop Level 3 fair value measurements were calculated by relative
 
fair value.
[2]
Loans held-in-portfolio in which haircuts were not applied to external appraisals were excluded from this table.