v3.25.4
Accrued Expenses and Other Liabilities
 12 Months Ended
Dec. 31, 2025
Payables and Accruals [Abstract]  
Accrued Expenses And Other Liabilities Accrued Expenses and Other Liabilities
The components of accrued expenses and other liabilities consisted of the following as of December 31,:
20252024
Salary and employee benefits$38,713 $37,266 
LIHTC delayed equity contribution36,341 10,366 
Loans subject to unilateral repurchase rights - Ginnie Mae31,705 36,600 
Lease liability29,049 24,376 
Derivative financial instruments15,531 22,863 
FRB courtesy in-clearings5,122 5,541 
Property taxes payable1,278 1,259 
Allowance for credit losses on unfunded commitments1,209 1,659 
MPF servicing principal and interest payable1,039 963 
Professional fees1,035 1,904 
Other8,908 6,719 
Total accrued expenses and other liabilities$169,930 $149,516 
For additional information regarding our lease liability, see Note 23 - Lease Commitments.
For certain loans that we have sold to Ginnie Mae, we as the issuer have the unilateral right to repurchase without Ginnie Mae’s prior authorization any individual loan in a Ginnie Mae securitization pool if that loan meets certain criteria, including being delinquent greater than 90 days. Once we have the unilateral right to repurchase a delinquent loan, we have effectively regained control over the loan, and under U.S. GAAP, must re-recognize the loan on our consolidated balance sheet and establish a corresponding repurchase liability regardless of our intention to repurchase the loan.