| Schedule of Assets and Liabilities Carried at Fair Value |
As of June 30, 2026 and December 31, 2025, our assets carried at fair value on a recurring basis were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Level 1 | | Level 2 | | Level 3 | | Total Fair Value | | June 30, 2026 | (In thousands) | | Assets | | | | | | | | | Investment securities: | | | | | | | | | | | | | | | | | | | | | | | | | Agency bond securities | $ | — | | | $ | 156,075 | | | $ | — | | | $ | 156,075 | | | Agency mortgage-backed securities | — | | | 2,501,430 | | | — | | | 2,501,430 | | | Municipal bonds | — | | | 22,640 | | | — | | | 22,640 | | | Asset-backed securities | — | | | 353,196 | | | — | | | 353,196 | | | | | | | | | | | Total assets | $ | — | | | $ | 3,033,341 | | | $ | — | | | $ | 3,033,341 | | | | | | | | | | | December 31, 2025 | | | | | | | | | Assets | | | | | | | | | Investment securities: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Agency bond securities | $ | — | | | $ | 156,975 | | | $ | — | | | $ | 156,975 | | | Agency mortgage-backed securities | — | | | 1,934,918 | | | — | | | 1,934,918 | | | Municipal bonds | — | | | 22,556 | | | — | | | 22,556 | | | Asset-backed securities | — | | | 353,394 | | | — | | | 353,394 | | | | | | | | | | | Total assets | $ | — | | | $ | 2,467,843 | | | $ | — | | | $ | 2,467,843 | | | | | | | | | | | | | | | | | | | | | | | | | |
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