v3.25.2
OFFSETTING OF FINANCIAL LIABILITIES
 6 Months Ended
Jun. 30, 2025
Offsetting [Abstract]  
OFFSETTING OF FINANCIAL ASSETS AND LIABILITIES

NOTE 19 - OFFSETTING OF FINANCIAL ASSETS AND LIABILITIES

The following table presents a summary of the Company’s offsetting of financial liabilities (in thousands, except amounts in footnotes):

 

 

 

(i)
Gross Amounts

 

 

(ii)
Gross Amounts Offset on the

 

 

(iii) = (i) - (ii)
Net Amounts of Liabilities Presented on the

 

 

(iv)
Gross Amounts Not Offset on the Consolidated Balance Sheets

 

 

 

 

 

 

of Recognized Liabilities

 

 

Consolidated Balance Sheets

 

 

Consolidated Balance Sheets

 

 

Financial Instruments (1)

 

 

Cash Collateral Pledged

 

 

(v) = (iii) - (iv)
Net Amount

 

At June 30, 2025:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Warehouse financing facilities (2)

 

$

82,067

 

 

$

—

 

 

$

82,067

 

 

$

82,067

 

 

$

—

 

 

$

—

 

At December 31, 2024:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Warehouse financing facilities (2)

 

$

156,739

 

 

$

—

 

 

$

156,739

 

 

$

156,739

 

 

$

—

 

 

$

—

 

 

(1)
Amounts represent financial instruments pledged that are available to be offset against liability balances associated with warehouse financing facilities and repurchase agreements.
(2)
The combined fair value of securities and loans pledged against the Company’s various warehouse financing facilities and repurchase agreements was $119.1 million and $257.0 million at June 30, 2025 and December 31, 2024, respectively.

All balances associated with warehouse financing facilities are presented on a gross basis on the Company’s consolidated balance sheets.

Certain of the Company’s warehouse financing facilities are governed by underlying agreements that generally provide for a right of offset in the event of default or in the event of a bankruptcy of either party to the transaction.