Mortgage Backed Securities

3 Months Ended

Mar. 31, 2021

Mortgage Backed Securities

Mortgage Backed Securities

Note 8. Mortgage backed securities

The following table presents certain information about the Company’s MBS portfolio, which are classified as trading securities and carried at fair value.

		Weighted
	Weighted	Average								Gross		Gross
	Average	Interest		Principal		Amortized				Unrealized		Unrealized
(In Thousands)	Maturity (a)	Rate (a)		Balance		Cost		Fair Value		Gains		Losses
March 31, 2021
Freddie Mac Loans	02/2037	3.8	%	$	131,326	$	51,390	$	54,693	$	3,433	$	(130)
Commercial Loans	11/2050	4.6			72,985		39,162		34,062		333		(5,433)
Residential	10/2042	3.5			637,395		594,193		594,193		—		—
Total Mortgage backed securities, at fair value	08/2042	3.6	%	$	841,706	$	684,745	$	682,948	$	3,766	$	(5,563)
December 31, 2020
Freddie Mac Loans	01/2037	3.7	%	$	139,408	$	52,320	$	53,509	$	1,880	$	(691)
Commercial Loans	11/2050	4.5			73,074		39,224		34,411		226		(5,039)
Tax Liens	09/2026	6.0			92		92		91		—		(1)
Total Mortgage backed securities, at fair value	10/2041	4.1	%	$	212,574	$	91,636	$	88,011	$	2,106	$	(5,731)

(a) Weighted based on current principal balance

The following table presents certain information about the maturity of the Company’s MBS portfolio.

	Weighted Average		Principal		Amortized
(In Thousands)	Interest Rate (a)		Balance		Cost		Fair Value
March 31, 2021
After five years through ten years	2.9	%	$	8,500	$	8,500	$	8,500
After ten years	3.4			833,206		676,245		674,448
Total Mortgage backed securities, at fair value	3.6	%	$	841,706	$	684,745	$	682,948
December 31, 2020
After five years through ten years	6.0	%	$	92	$	92	$	91
After ten years	2.8			212,482		91,544		87,920
Total Mortgage backed securities, at fair value	4.1	%	$	212,574	$	91,636	$	88,011

(a) Weighted based on current principal balance