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Securities Held-to-Maturity (Tables)
9 Months Ended
Sep. 30, 2022
Securities Held-to-Maturity  
Schedule of securities held-to-maturity

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

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net Carrying

​

Unrealized 

​

Estimated 

​

Allowance for

​

    

Face Value

    

Value

    

Gain (Loss)

    

Fair Value

    

Credit Losses

September 30, 2022

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

APL certificates

​

$

192,791

​

$

123,291

​

$

(9,786)

​

$

113,505

​

$

1,803

B Piece bonds

​

​

43,921

​

​

34,527

​

​

1,995

​

​

36,522

​

​

287

Total

​

$

236,712

​

$

157,818

​

$

(7,791)

​

$

150,027

​

$

2,090

December 31, 2021

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

APL certificates

​

$

149,368

​

$

92,869

​

$

5,007

​

$

97,876

​

$

1,422

B Piece bonds

​

​

61,360

​

​

47,615

​

​

4,420

​

​

52,035

​

​

331

Total

​

$

210,728

​

$

140,484

​

$

9,427

​

$

149,911

​

$

1,753

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):

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​

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​

​

​

​

​

​

​

​

Three Months Ended September 30, 2022

​

​

APL

​

B Piece

​

​

​

​

    

Certificates

    

Bonds

    

Total

Beginning balance

​

$

1,756

​

$

266

​

$

2,022

Provision for credit loss expense/(reversal)

​

 

47

​

 

21

​

 

68

Ending balance

​

$

1,803

​

$

287

​

$

2,090

​

​

​

​

​

​

​

​

​

​

​

​

​

Nine Months Ended September 30, 2022

Beginning balance

​

$

1,422

​

$

331

​

$

1,753

Provision for credit loss expense/(reversal)

​

 

381

​

 

(44)

​

 

337

Ending balance

​

$

1,803

​

$

287

​

$

2,090

​