Interest Income and Interest Expense (Tables)

6 Months Ended

Jun. 30, 2025

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 June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Interest income:
Loans held for investment, net	$	310,635	$	311,079	$	615,602	$	617,221
Investment securities		113,943		117,858		227,470		236,393
Interest-bearing cash and federal funds sold		20,785		37,817		47,120		92,158
Margin balances		14,363		13,956		28,234		28,160
Financial instruments owned		9,333		6,345		15,879		11,205
Other		7,997		11,097		18,383		19,843
	$	477,056	$	498,152	$	952,688	$	1,004,980
Interest expense:
Bank deposits	$	187,533	$	220,287	$	380,655	$	450,351
Senior notes		7,131		12,507		14,262		25,013
Other		12,136		14,535		25,440		26,620
	$	206,800	$	247,329	$	420,357	$	501,984