v3.26.1
Investment in Debt Securities
 6 Months Ended
Jun. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
Investments in Debt Securities Investments in Debt Securities
Available-for-sale Securities

The following table presents available-for-sale securities.
As of June 30, 2026As of December 31, 2025
Amortized     Cost (1)
Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated Fair Value
Amortized     Cost (1)
Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated Fair Value
U.S. Treasury obligations
$6,034 $11 $— $6,045 $5,581 $13 $— $5,594 
Mortgage-backed securities:
Government-sponsored enterprises commercial7,753 28 (10)7,771 3,327 14 (2)3,339 
Total$13,787 $39 $(10)$13,816 $8,908 $27 $(2)$8,933 
____________________
(1) Amortized cost includes adjustments made to the cost basis for accretion, amortization, fair value hedge accounting adjustments, and excludes accrued interest receivable of $78 and $57 as of June 30, 2026 and December 31, 2025, respectively.

The following tables present available-for-sale securities with gross unrealized losses. The gross unrealized losses are aggregated by the length of time that the individual securities have been in a continuous unrealized loss position.
As of June 30, 2026
Less than 12 Months12 Months or MoreTotal
Estimated Fair Value Gross Unrealized Losses Estimated
  Fair Value		Gross Unrealized LossesEstimated
  Fair Value		Gross Unrealized Losses
Mortgage-backed securities:
Government-sponsored enterprises commercial$3,664 $(10)$147 $— $3,811 $(10)
As of December 31, 2025
Less than 12 Months12 Months or MoreTotal
Estimated Fair Value Gross Unrealized Losses Estimated
  Fair Value		Gross Unrealized LossesEstimated
  Fair Value		Gross Unrealized Losses
Mortgage-backed securities:
Government-sponsored enterprises commercial$673 $(2)$196 $— $869 $(2)

The following table presents the amortized cost and estimated fair value of available-for-sale securities by contractual maturity.
As of June 30, 2026
As of December 31, 2025
Amortized
Cost (1)
Estimated
Fair Value
Amortized
Cost (1)
Estimated
Fair Value
Non-mortgage-backed securities:
Due in one year or less$2,224 $2,225 $1,229 $1,230 
Due after one year through five years3,810 3,820 4,352 4,364 
Total non-mortgage-backed securities6,034 6,045 5,581 5,594 
Mortgage-backed securities (2)
7,753 7,771 3,327 3,339 
Total$13,787 $13,816 $8,908 $8,933 
____________________
(1) Amortized cost includes adjustments made to the cost basis for accretion, amortization, fair value hedge accounting adjustments, and excludes accrued interest receivable of $78 and $57 as of June 30, 2026 and December 31, 2025, respectively.
(2) Mortgage-backed securities (MBS) are not presented by contractual maturity because their actual maturities may differ from contractual maturities as borrowers may have the right to call or prepay obligations with or without call or prepayment fees.
1) A
Held-to-maturity Securities

The following table presents held-to-maturity securities.
As of June 30, 2026As of December 31, 2025
Amortized
Cost (1)
Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Amortized
Cost (1)
Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
State or local housing agency debt obligations$6 $— $— $6 $1 $— $— $1 
Government-sponsored enterprises debt obligations360 2 — 362 360 2 — 362 
Mortgage-backed securities:
U.S. agency obligations-guaranteed residential1,656 4 (20)1,640 1,876 12 (21)1,867 
Government-sponsored enterprises residential9,710 45 (82)9,673 10,559 43 (90)10,512 
Government-sponsored enterprises commercial10,575 7 (103)10,479 11,862 11 (106)11,767 
Total$22,307 $58 $(205)$22,160 $24,658 $68 $(217)$24,509 
 ____________
(1) Excludes accrued interest receivable of $36 and $43 as of June 30, 2026 and December 31, 2025, respectively.
The following table presents the amortized cost and estimated fair value of held-to-maturity securities by contractual maturity.
As of June 30, 2026As of December 31, 2025
Amortized
Cost (1)
Estimated
Fair Value
Amortized
Cost (1)
Estimated
Fair Value
Non-mortgage-backed securities:
Due in one year or less$200 $200 $101 $101 
Due after one year through five years105 106 200 201 
Due after five years through 10 years61 62 60 61 
Total non-mortgage-backed securities 366 368 361 363 
Mortgage-backed securities (2)
21,941 21,792 24,297 24,146 
Total$22,307 $22,160 $24,658 $24,509 
____________

(1) Excludes accrued interest receivable of $36 and $43 as of June 30, 2026 and December 31, 2025, respectively.
(2) MBS are not presented by contractual maturity because their actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment fees.

Allowance For Credit Loss on Available-for-sale and Held-to-maturity Securities

The Bank has not established an allowance for credit loss on any of its available-for-sale or held-to-maturity securities as of June 30, 2026 and December 31, 2025, because the securities: (1) were all highly-rated, (2) had not experienced, nor did the Bank expect, any payment default on the instruments, (3) in the case of U.S. obligations, they carry an explicit U.S. government guarantee, and (4) in the case of government-sponsored enterprise (GSE) securities, they are purchased under the assumption that the issuers’ obligation to pay principal and interest on those securities will be honored, taking into account their status as GSEs.