v3.26.1
CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Assets:    
Cash and cash equivalents (includes restricted cash of $27,338 and $24,475, respectively) $ 773,935 $ 931,067
Investment securities:    
Available-for-sale, at fair value (amortized cost of $14,269,843 and $13,813,551, respectively) 13,971,122 13,580,285
Held-to-maturity, at amortized cost 4,230,583 3,954,223
Other investments 17,290 15,871
Total Investment Securities 18,218,995 17,550,379
Loans:    
Loans held for investment, at amortized cost 14,860,528 13,877,051
Loans held for investment in consolidated trusts, at amortized cost 2,391,027 2,482,010
Allowance for losses (39,920) (37,785)
Total loans, net of allowance 17,211,635 16,321,276
Financial derivatives, at fair value 15,481 44,875
Accrued interest receivable (includes $25,874 and $40,945, respectively, related to consolidated trusts) 303,725 357,155
Guarantee and commitment fees receivable 56,941 57,214
Deferred tax asset, net 5,133 173
Prepaid expenses and other assets 143,401 108,018
Total Assets 36,729,246 35,370,157
Liabilities:    
Notes payable 32,236,308 30,822,570
Debt securities of consolidated trusts held by third parties 2,275,001 2,365,435
Financial derivatives, at fair value 46,490 21,618
Accrued interest payable (includes $13,012 and $15,795, respectively, related to consolidated trusts) 254,798 233,714
Guarantee and commitment obligation 54,201 54,770
Other liabilities 145,427 153,101
Total Liabilities 35,012,225 33,651,208
Commitments and Contingencies (Note 5)
Equity:    
Additional paid-in capital 138,543 139,370
Accumulated other comprehensive (loss)/income, net of tax (15,071) 13,382
Retained earnings 1,074,707 1,047,347
Total Equity 1,717,021 1,718,949
Total Liabilities and Equity 36,729,246 35,370,157
Series D    
Equity:    
Preferred stock 96,659 96,659
Series E    
Equity:    
Preferred stock 77,003 77,003
Series F    
Equity:    
Preferred stock 116,160 116,160
Series G    
Equity:    
Preferred stock 121,327 121,327
Series H    
Equity:    
Preferred stock 96,844 96,844
Class A voting common stock    
Equity:    
Common stock 1,031 1,031
Class B voting common stock    
Equity:    
Common stock 500 500
Class C non-voting common stock    
Equity:    
Common stock $ 9,318 $ 9,326