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Interest Income and Interest Expense (Tables)
12 Months Ended
Dec. 31, 2020
Banking And Thrift Interest [Abstract]  
Components of Interest Income and Interest Expense

The components of interest income and interest expense are as follows (in thousands)

 

 

Year Ended December 31,

 

 

 

2020

 

 

2019

 

 

2018

 

Interest income:

 

 

 

 

 

 

 

 

 

 

 

 

Loans held for investment, net

 

$

331,813

 

 

$

379,848

 

 

$

300,541

 

Investment securities

 

 

149,915

 

 

 

231,021

 

 

 

252,200

 

Margin balances

 

 

28,155

 

 

 

52,008

 

 

 

49,515

 

Financial instruments owned

 

 

12,594

 

 

 

23,528

 

 

 

21,407

 

Other

 

 

1,355

 

 

 

38,477

 

 

 

22,786

 

 

 

$

523,832

 

 

$

724,882

 

 

$

646,449

 

Interest expense:

 

 

 

 

 

 

 

 

 

 

 

 

Senior notes

 

$

54,063

 

 

$

44,507

 

 

$

44,610

 

Bank deposits

 

 

14,550

 

 

 

95,813

 

 

 

82,256

 

Federal Home Loan Bank advances

 

 

3,667

 

 

 

7,872

 

 

 

15,173

 

Other

 

 

(6,502

)

 

 

29,739

 

 

 

28,037

 

 

 

$

65,778

 

 

$

177,931

 

 

$

170,076