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):

			Net Carrying		Unrealized		Estimated		Allowance for
	Face Value		Value		Gain (Loss)		Fair Value		Credit Losses
September 30, 2022
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
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):

	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