v3.26.1
Interest Income and Interest Expense (Tables)
3 Months Ended
Mar. 31, 2026
Banking and Thrift, Interest [Abstract]  
Components of Interest Income and Interest Expense

The components of interest income and interest expense are as follows (in thousands):

 

 

Three Months Ended March 31,

 

 

 

2026

 

 

2025

 

Interest income:

 

 

 

 

 

 

Loans held for investment and held for sale

 

$

296,387

 

 

$

304,967

 

Investment securities

 

 

100,166

 

 

 

113,527

 

Interest-bearing cash and federal funds sold

 

 

20,325

 

 

 

26,335

 

Margin balances

 

 

15,402

 

 

 

13,871

 

Financial instruments owned

 

 

8,378

 

 

 

6,546

 

Other

 

 

10,391

 

 

 

10,386

 

Total interest income

 

$

451,049

 

 

$

475,632

 

Interest expense:

 

 

 

 

 

 

Bank deposits

 

$

150,888

 

 

$

193,123

 

Senior notes

 

 

7,131

 

 

 

7,131

 

Other

 

 

29,472

 

 

 

13,303

 

Total interest expense

 

$

187,491

 

 

$

213,557