Interest Income and Interest Expense

12 Months Ended

Dec. 31, 2024

Banking and Thrift, Interest [Abstract]

Interest Income and Interest Expense

NOTE 22 – Interest Income and Interest Expense

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

	Year Ended December 31,
	2024		2023		2022
Interest income:
Loans held for investment, net	$	1,250,048	$	1,253,008	$	752,273
Investment securities		484,134		467,199		247,755
Interest-bearing cash and federal funds sold		164,110		123,363		29,996
Margin balances		55,156		61,138		43,751
Financial instruments owned		25,001		16,726		20,545
Other		38,015		34,311		4,795
	$	2,016,464	$	1,955,745	$	1,099,115
Interest expense:
Bank deposits	$	888,453	$	724,857	$	146,636
Senior notes		40,349		50,025		44,424
Other		52,564		35,454		10,327
	$	981,366	$	810,336	$	201,387