Securities Held-to-Maturity (Tables)

12 Months Ended

Dec. 31, 2023

Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity [Abstract]

Schedule of Securities Held-to-Maturity

A summary of our securities held-to-maturity is as follows (in thousands):

	Face Value		Net Carrying Value		Unrealized Gain (Loss)		Estimated Fair Value		Allowance for Credit Losses
December 31, 2023
APL certificates	$	192,791	$	128,865	$	(31,331)	$	97,534	$	2,272
B Piece bonds	37,704		26,414		5,442		31,856		3,984
Total	$	230,495	$	155,279	$	(25,889)	$	129,390	$	6,256
December 31, 2022
APL certificates	$	192,791	$	123,475	$	(13,348)	$	110,127	$	2,783
B Piece bonds	41,464		33,072		1,372		34,444		370
Total	$	234,255	$	156,547	$	(11,976)	$	144,571	$	3,153

Schedule of Changes in the Allowance for Credit Losses

A summary of the changes in the allowance for credit losses for our securities held-to-maturity is as follows (in thousands):

	Year Ended December 31, 2023
	APL Certificates		B Piece Bonds		Total
Beginning balance	$	2,783	$	370	$	3,153
Provision for credit loss expense/(reversal)	(511)		3,614		3,103
Ending balance	$	2,272	$	3,984	$	6,256