| Interest Income and Interest Expense |
NOTE 19 – Interest Income and Interest Expense The components of interest income and interest expense are as follows (in thousands):
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Three Months Ended
September 30, |
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Nine Months Ended
September 30, |
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2026 |
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2025 |
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2026 |
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|
2025 |
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Interest income: |
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Loans held for investment and held for sale |
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$ |
352,164 |
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$ |
316,551 |
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$ |
964,500 |
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$ |
932,153 |
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Investment securities |
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|
102,378 |
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|
110,694 |
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|
306,226 |
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|
338,164 |
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Interest-bearing cash and federal funds sold |
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16,601 |
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|
24,086 |
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|
54,732 |
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|
71,206 |
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Margin balances |
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17,922 |
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|
15,510 |
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|
50,230 |
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|
43,744 |
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Financial instruments owned |
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9,006 |
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8,300 |
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|
26,414 |
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|
24,179 |
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Other |
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|
12,553 |
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|
6,363 |
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|
35,664 |
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|
24,746 |
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Total interest income |
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$ |
510,624 |
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$ |
481,504 |
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|
$ |
1,437,766 |
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$ |
1,434,192 |
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Interest expense: |
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Bank deposits |
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$ |
180,596 |
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$ |
187,988 |
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$ |
494,987 |
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$ |
568,643 |
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Senior notes |
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|
7,131 |
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|
7,131 |
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|
21,393 |
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|
21,393 |
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Other |
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|
21,231 |
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|
10,050 |
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|
68,044 |
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|
35,490 |
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Total interest expense |
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$ |
208,958 |
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$ |
205,169 |
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$ |
584,424 |
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|
$ |
625,526 |
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