Credit Risk and Interest Rate Risk (Tables)

12 Months Ended

Dec. 31, 2024

Offsetting [Abstract]

Schedule of Offsetting Liabilities

The following table presents information about our assets and liabilities that are subject to such arrangements and can potentially be offset on our consolidated statements of financial condition as of December 31, 2024 and December 31, 2023.

	December 31, 2024
	(dollars in thousands)
	Gross Amounts of Recognized  Assets (Liabilities)		Gross Amounts Offset in the Consolidated Statements of Financial Position		Net Amounts Offset in the Consolidated Statements of Financial Position		Gross Amounts Not Offset with Financial Assets (Liabilities) in the Consolidated Statements of Financial Position
							Financial Instruments		Cash Collateral (Received) Pledged (1)		Net Amount
Secured financing agreements	$	(2,824,371)	$	—	$	(2,824,371)	$	4,086,097	$	17,340	$	1,279,066
Interest Rate Swaps - Gross Assets	3,754		(3,754)		—		—		—		—
Interest Rate Swaps - Gross Liabilities	—		—		—		—		(13,486)		(13,486)
Treasury Futures - Gross Assets	117		—		117		—		—		117
Treasury Futures - Gross Liabilities	—		—		—		—		1,098		1,098
Swaptions - Gross Assets	—		—		—		—		—		—
Swaptions - Gross Liabilities	3,391		(3,391)		—		—		(399)		(399)
Total	$	(2,817,109)	$	(7,145)	$	(2,824,254)	$	4,086,097	$	4,554	$	1,266,396

(1) Included in other assets

	December 31, 2023
	(dollars in thousands)
	Gross Amounts of Recognized  Assets (Liabilities)		Gross Amounts Offset in the Consolidated Statements of Financial Position		Net Amounts Offset in the Consolidated Statements of Financial Position		Gross Amounts Not Offset with Financial Assets (Liabilities) in the Consolidated Statements of Financial Position
							Financial Instruments		Cash Collateral (Received) Pledged (1)		Net Amount
Secured financing agreements	$	(2,432,115)	$	—	$	(2,432,115)	$	3,539,416	$	22,930	$	1,130,231
Interest Rate Swaps - Gross Assets	7,455		(7,455)		—		—		(11,306)		(11,306)
Swaptions - Gross Assets	11,362		(11,362)		—		—		(58)		(58)
Total	$	(2,413,298)	$	(18,817)	$	(2,432,115)	$	3,539,416	$	11,566	$	1,118,867

(1) Included in other assets

Schedule of Offsetting Assets

The following table presents information about our assets and liabilities that are subject to such arrangements and can potentially be offset on our consolidated statements of financial condition as of December 31, 2024 and December 31, 2023.

	December 31, 2024
	(dollars in thousands)
	Gross Amounts of Recognized  Assets (Liabilities)		Gross Amounts Offset in the Consolidated Statements of Financial Position		Net Amounts Offset in the Consolidated Statements of Financial Position		Gross Amounts Not Offset with Financial Assets (Liabilities) in the Consolidated Statements of Financial Position
							Financial Instruments		Cash Collateral (Received) Pledged (1)		Net Amount
Secured financing agreements	$	(2,824,371)	$	—	$	(2,824,371)	$	4,086,097	$	17,340	$	1,279,066
Interest Rate Swaps - Gross Assets	3,754		(3,754)		—		—		—		—
Interest Rate Swaps - Gross Liabilities	—		—		—		—		(13,486)		(13,486)
Treasury Futures - Gross Assets	117		—		117		—		—		117
Treasury Futures - Gross Liabilities	—		—		—		—		1,098		1,098
Swaptions - Gross Assets	—		—		—		—		—		—
Swaptions - Gross Liabilities	3,391		(3,391)		—		—		(399)		(399)
Total	$	(2,817,109)	$	(7,145)	$	(2,824,254)	$	4,086,097	$	4,554	$	1,266,396

(1) Included in other assets

	December 31, 2023
	(dollars in thousands)
	Gross Amounts of Recognized  Assets (Liabilities)		Gross Amounts Offset in the Consolidated Statements of Financial Position		Net Amounts Offset in the Consolidated Statements of Financial Position		Gross Amounts Not Offset with Financial Assets (Liabilities) in the Consolidated Statements of Financial Position
							Financial Instruments		Cash Collateral (Received) Pledged (1)		Net Amount
Secured financing agreements	$	(2,432,115)	$	—	$	(2,432,115)	$	3,539,416	$	22,930	$	1,130,231
Interest Rate Swaps - Gross Assets	7,455		(7,455)		—		—		(11,306)		(11,306)
Swaptions - Gross Assets	11,362		(11,362)		—		—		(58)		(58)
Total	$	(2,413,298)	$	(18,817)	$	(2,432,115)	$	3,539,416	$	11,566	$	1,118,867

(1) Included in other assets