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Note 3 - U.S. Treasury Securities, Available-for-sale

6 Months Ended

Jun. 30, 2024

Available-for-sale Debt Securities [Text Block]

NOTE 3. U.S. TREASURY SECURITIES, AVAILABLE-FOR-SALE

As of June 30, 2024 and December 31, 2023, the Company held U.S. Treasury securities with a fair value of approximately $98.1 million and $148.8 million, respectively, that were classified as available-for-sale. U.S. Treasury securities are held primarily to satisfy collateral requirements of the Company's repurchase and derivative counterparties.

The amortized cost, gross unrealized holding gains and losses, and fair value of available-for-sale investments as of June 30, 2024 and December 31, 2023 are as follows:

(in thousands)
			*Gross*		*Gross*
	*Amortized*		*Unrealized*		*Unrealized*			*Fair*
	*Cost*		*Gains*		*Losses*			*Value*
June 30, 2024
U.S. Treasury Bill maturing 10/24/2024	$	49,176	$	-	$	(4	)	$	49,172
U.S. Treasury Bill maturing 11/29/2024		48,916		11		-			48,927
	$	98,092	$	11	$	(4	)	$	98,099
December 31, 2023
U.S. Treasury Bill maturing 1/2/2024	$	49,671	$	9	$	-		$	49,680
U.S. Treasury Bill maturing 2/15/2024		49,992		8		-			50,000
U.S. Treasury Bill maturing 4/30/2024		49,140		-		-			49,140
	$	148,803	$	17	$	-		$	148,820

Because all of the Company's available-for-sale securities are backed by the full faith and credit of the U.S. government, the Company has not recorded an allowance for credit losses.