v3.26.1
DERIVATIVE INSTRUMENTS (Tables)
 6 Months Ended
Jun. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Breakdown of derivatives outstanding The following is a breakdown of the derivatives outstanding as of June 30, 2026 and December 31, 2025:
June 30, 2026December 31, 2025
Fair ValueRemainingFair ValueRemaining
Contract Type
Notional1
Asset2
Liability3
Maturity (years)
Notional1
Asset2
Liability3
Maturity (years)
5-year Treasury Futures
$(175,018)$— $4 0.25 years$(211,805)$737 $— 0.25 years
1    Shown as a negative number when the position is sold short.
2     Shown in Other assets in the accompanying Consolidated Statements of Financial Condition.
3    Shown in Accounts payable, accrued expenses, and other liabilities in the accompanying Consolidated Statements of Financial Condition.
Gains and losses on derivatives
The following table indicates the net realized gains (losses) and unrealized appreciation (depreciation) on derivatives as included in Other Noninterest Income in the consolidated statements of income for the three and six months ended June 30, 2026, and 2025:
Three Months EndedSix Months Ended
June 30, 2026June 30, 2025June 30, 2026June 30, 2025
Contract TypeUnrealized Appreciation/(Depreciation)Realized Gain/(Loss)Unrealized Appreciation/(Depreciation)Realized Gain/(Loss)Unrealized Appreciation/(Depreciation)Realized Gain/(Loss)Unrealized Appreciation/(Depreciation)Realized Gain/(Loss)
5-year Treasury Futures
$(981)$1,986 $219 $(1,322)$(741)$2,401 $(1,536)$(2,190)