Borrowings |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||
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| Borrowings | Note 10: Borrowings Borrowings were comprised of the following at June 30, 2026 and December 31, 2025:
FHLB On June 15, 2026, the Company entered into a new variable-rate debt agreement with the FHLB for an advance that has put and call options attached to it. The balance of the advance was $2.0 billion as of June 30, 2026, and matures on September 14, 2026. The variable interest rate is based on the , plus 15 basis points, which was 3.78% on June 30, 2026. The FHLB has a put option to cancel the agreement 60 days after the initial execution date and the Company has a call option to cancel the agreement at any time, with one day’s notice. On June 30, 2026, the Company entered into a new variable-rate debt agreement with the FHLB for an advance that has put and call options attached to it. The balance of the advance was $2.2 billion as of June 30, 2026, and matures on September 28, 2026. The variable interest rate is based on the , plus 15 basis points, which was 3.78% on June 30, 2026. The FHLB has a put option to cancel the agreement 60 days after the initial execution date and the Company has a call option to cancel the agreement at any time, with one day’s notice. |
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