| Interest Income and Interest Expense |
NOTE 19 – Interest Income and Interest Expense The components of interest income and interest expense are as follows (in thousands):
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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Interest income: |
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Loans held for investment and held for sale |
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$ |
315,949 |
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$ |
310,635 |
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$ |
612,336 |
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$ |
615,602 |
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Investment securities |
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|
103,682 |
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|
113,943 |
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|
203,848 |
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|
227,470 |
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Interest-bearing cash and federal funds sold |
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17,806 |
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20,785 |
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38,131 |
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|
47,120 |
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Margin balances |
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16,906 |
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14,363 |
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32,308 |
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28,234 |
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Financial instruments owned |
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9,030 |
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9,333 |
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17,408 |
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15,879 |
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Other |
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12,720 |
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7,997 |
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23,111 |
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|
18,383 |
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Total interest income |
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$ |
476,093 |
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$ |
477,056 |
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$ |
927,142 |
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$ |
952,688 |
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Interest expense: |
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Bank deposits |
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$ |
163,503 |
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$ |
187,533 |
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$ |
314,391 |
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$ |
380,655 |
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Senior notes |
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|
7,131 |
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|
7,131 |
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|
14,262 |
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|
14,262 |
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Other |
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|
17,341 |
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|
12,136 |
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|
46,813 |
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|
25,440 |
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Total interest expense |
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$ |
187,975 |
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$ |
206,800 |
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$ |
375,466 |
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$ |
420,357 |
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