v3.26.3
Note 5 - Derivative and Other Hedging Instruments - Schedule of To Be Announced Securities (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Five Percent 30-year TBA Securities [Member]    
Cost basis [1]   $ 218
Market value [2]   0
Net carrying value [3]   (218)
Notional amount [4]   0
Three Percent 30 Year TBA Securities [Member]    
Cost basis [1]   (343)
Market value [2]   0
Net carrying value [3]   343
Notional amount [4]   0
Three and a Half Percent 30-year TBA Securities [Member]    
Cost basis [1]   34
Market value [2]   0
Net carrying value [3]   (34)
Notional amount [4]   0
Four Percent 30-year TBA Securities [Member]    
Cost basis [1]   (215)
Market value [2]   0
Net carrying value [3]   215
Notional amount [4]   0
Long [Member] | Five and a Half Percent 15 Year TBA Securities [Member]    
Notional amount [4] $ 100,000  
Cost basis [1] 99,703  
Market value [2] 98,523  
Net carrying value [3] (1,180)  
Long [Member] | Four and a Half Percent 15-year TBA Securities [Member]    
Notional amount [4]   250,000
Cost basis [1]   249,998
Market value [2]   250,186
Net carrying value [3]   188
Short [Member] | Five Percent 30-year TBA Securities [Member]    
Cost basis [1] (331,555)  
Market value [2] (319,152)  
Net carrying value [3] 12,403  
Notional amount [4] (345,000)  
Short [Member] | Six Percent 30 Year TBA Securities [Member]    
Cost basis [1] (69,716)  
Market value [2] (68,453)  
Net carrying value [3] 1,263  
Notional amount [4] (70,000)  
Short [Member] | TBA Contracts [Member]    
Cost basis [1] (301,568) (189,107)
Market value [2] (289,082) (189,937)
Net carrying value [3] 12,486 (830)
Notional amount [4] $ (315,000) (180,000)
Short [Member] | Five and a Half Percent 30 Year TBA Securities [Member]    
Cost basis [1]   (277,696)
Market value [2]   (278,996)
Net carrying value [3]   (1,300)
Notional amount [4]   (275,000)
Short [Member] | Six and a Half Percent 30-year TBA Securities [Member]    
Cost basis [1]   (161,103)
Market value [2]   (161,127)
Net carrying value [3]   (24)
Notional amount [4]   $ (155,000)
[1] Cost basis represents the forward price to be paid (received) for the underlying Agency RMBS.
[2] Market value represents the current market value of the TBA securities (or of the underlying Agency RMBS) as of period-end.
[3] Net carrying value represents the difference between the market value and the cost basis of the TBA securities as of period-end and is reported in derivative assets (liabilities), at fair value in the balance sheets.
[4] Notional amount represents the par value (or principal balance) of the underlying Agency RMBS.