v3.26.1
Held-to-Maturity Securities - Schedule of Major Security Types (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Issued, guaranteed or insured:    
Amortized Cost $ 11,962,094 $ 10,490,243
Allowance for Credit Loss (ACL) (86) (76)
OTTI Recognized in AOCI 0 0
Carrying Value 11,962,008 10,490,167
Gross Unrecognized Holding Gains 20,016 17,720
Gross Unrecognized Holding Losses (156,259) (123,507)
Fair Value 11,825,765 10,384,380
Pools of Mortgages    
Issued, guaranteed or insured:    
Amortized Cost 15,463 17,557
Allowance for Credit Loss (ACL) 0 0
OTTI Recognized in AOCI 0 0
Carrying Value 15,463 17,557
Gross Unrecognized Holding Gains 92 334
Gross Unrecognized Holding Losses (7) 0
Fair Value 15,548 17,891
Collateralized Mortgage Obligations/Real Estate Mortgage Investment Conduits    
Issued, guaranteed or insured:    
Amortized Cost 4,705,468 2,914,512
Allowance for Credit Loss (ACL) 0 0
OTTI Recognized in AOCI 0 0
Carrying Value 4,705,468 2,914,512
Gross Unrecognized Holding Gains 15,500 9,966
Gross Unrecognized Holding Losses (14,039) (6,924)
Fair Value 4,706,929 2,917,554
CMBS    
Issued, guaranteed or insured:    
Amortized Cost 7,068,448 7,406,494
Allowance for Credit Loss (ACL) 0 0
OTTI Recognized in AOCI 0 0
Carrying Value 7,068,448 7,406,494
Gross Unrecognized Holding Gains 4,414 7,420
Gross Unrecognized Holding Losses (138,258) (111,764)
Fair Value 6,934,604 7,302,150
Total MBS    
Issued, guaranteed or insured:    
Amortized Cost 11,789,379 10,338,563
Allowance for Credit Loss (ACL) 0 0
OTTI Recognized in AOCI 0 0
Carrying Value 11,789,379 10,338,563
Gross Unrecognized Holding Gains 20,006 17,720
Gross Unrecognized Holding Losses (152,304) (118,688)
Fair Value 11,657,081 10,237,595
State and local housing finance agency obligations    
Issued, guaranteed or insured:    
Amortized Cost 172,715 151,680
Allowance for Credit Loss (ACL) (86) (76)
OTTI Recognized in AOCI 0 0
Carrying Value 172,629 151,604
Gross Unrecognized Holding Gains 10 0
Gross Unrecognized Holding Losses (3,955) (4,819)
Fair Value $ 168,684 $ 146,785