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