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Interest Income and Interest Expense (Tables)
 9 Months Ended
Sep. 30, 2022
Banking and Thrift, Interest [Abstract]  
Components of Interest Income and Interest Expense

The components of interest income and interest expense are as follows (in thousands):

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Interest income:

 

 

 

 

 

 

 

 

 

 

 

 

Loans held for investment, net

 

$

208,366

 

 

$

95,075

 

 

$

480,054

 

 

$

274,693

 

Investment securities

 

 

71,420

 

 

 

34,247

 

 

 

151,728

 

 

 

95,738

 

Margin balances

 

 

12,510

 

 

 

6,624

 

 

 

28,154

 

 

 

19,001

 

Financial instruments owned

 

 

3,564

 

 

 

3,581

 

 

 

13,041

 

 

 

9,019

 

Other

 

 

8,335

 

 

 

2,317

 

 

 

9,407

 

 

 

4,524

 

 

 

$

304,195

 

 

$

141,844

 

 

$

682,384

 

 

$

402,975

 

Interest expense:

 

 

 

 

 

 

 

 

 

 

 

 

Senior notes

 

$

11,220

 

 

$

11,850

 

 

$

33,919

 

 

$

35,924

 

Bank deposits

 

 

43,371

 

 

 

1,111

 

 

 

47,899

 

 

 

3,608

 

Other

 

 

5,165

 

 

 

(2,938

)

 

 

4,729

 

 

 

(891

)

 

 

$

59,756

 

 

$

10,023

 

 

$

86,547

 

 

$

38,641