XML 49 R39.htm IDEA: XBRL DOCUMENT v3.25.1
Derivative and Hedging Activities and Restricted Cash (Tables)
 3 Months Ended
Mar. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Company's Carrying Amounts on our Hedged Loans The following table sets forth information regarding the Company's carrying amounts on our hedged loans:
March 31, 2025December 31, 2024
 Carrying Amount of Hedged Items  Cumulative Amount of Fair Value Hedging Adjustments Carrying Amount of Hedged Items Cumulative Amount of Fair Value Hedging Adjustments
Debt securities available-for-sale(1)
$993 $7 $— $— 
Loans and leases held-for-investment(2)
4,245 (12)5,861 (18)
(1)During the three months ended March 31, 2025, the amount recorded in Interest Income - Securities and money market investments was immaterial.
(2)Relates to discontinued hedges on multi-family loans. During the three months ended March 31, 2025 and 2024, the amount recorded to Interest Income - Loans and leases was immaterial.
Schedule of Derivative Financial Instruments
The following tables set forth information regarding the Company’s derivative financial instruments:

March 31, 2025
Fair Value
Notional AmountOther AssetsOther LiabilitiesExpiration Dates
Derivatives designated as hedging instruments:
Interest rate swaps $993 $— $— 2028-2029
Derivatives not designated as hedging instruments:
Rate lock commitments(1)
$547 $4 $3 2025
Mortgage-backed securities forwards(1)
281 — 3 2025
Interest rate swaps(2)
3,234 15 23 2025-2041
(1)During the three months ended March 31, 2025 and 2024, the amount recorded in Net gain on loan sales and securitizations in the Condensed Consolidated Statement of Income was immaterial.
(2)During the three months ended March 31, 2025 and 2024, the amount recorded in Non-interest income - Other was immaterial.
December 31, 2024
Fair Value
Notional AmountOther AssetsOther Liabilities
Expiration Date
Derivatives not designated as hedging instruments:
Rate lock commitments
$563 $3 $3 2025
Mortgage-backed securities forwards
344 7 2 2025
Interest rate swaps
3,323 15 30 2024-2041
Schedule of Offsetting Assets
The tables below present the gross derivative assets and liabilities, and the related cash pledged as collateral at March 31, 2025 and December 31, 2024. No amounts were netted in the Statement of Condition.
March 31, 2025
Gross Amounts Not Offset in the Statements of Condition
Cash Collateral Pledged (Received)
Derivatives not designated as hedging instruments:
Assets
Interest rate swaptions$15 $— 
Total derivative assets$15 $— 
Liabilities
Mortgage-backed securities forwards$3 $30 
Interest rate swaps (1)
23 4 
Total derivative liabilities$26 $34 
(1)Variation margin pledged to, or received from, a Central Counterparty Clearing House to cover the prior day's fair value of open positions is considered settlement of the derivative position for accounting purposes.

December 31, 2024
Gross Amounts Not Offset in the Statements of Condition
Cash Collateral Pledged (Received)
Derivatives not designated as hedging instruments:
Assets
Mortgage-backed securities forwards$7 $(2)
Interest rate swaptions15 (3)
Total derivative assets$22 $(5)
Liabilities
Mortgage-backed securities forwards$2 $10 
Interest rate swaps (1)
30 47 
Total derivative liabilities$32 $57 
(1)Variation margin pledged to, or received from, a Central Counterparty Clearing House to cover the prior day's fair value of open positions is considered settlement of the derivative position for accounting purposes.
Schedule of Offsetting Liabilities
The tables below present the gross derivative assets and liabilities, and the related cash pledged as collateral at March 31, 2025 and December 31, 2024. No amounts were netted in the Statement of Condition.
March 31, 2025
Gross Amounts Not Offset in the Statements of Condition
Cash Collateral Pledged (Received)
Derivatives not designated as hedging instruments:
Assets
Interest rate swaptions$15 $— 
Total derivative assets$15 $— 
Liabilities
Mortgage-backed securities forwards$3 $30 
Interest rate swaps (1)
23 4 
Total derivative liabilities$26 $34 
(1)Variation margin pledged to, or received from, a Central Counterparty Clearing House to cover the prior day's fair value of open positions is considered settlement of the derivative position for accounting purposes.

December 31, 2024
Gross Amounts Not Offset in the Statements of Condition
Cash Collateral Pledged (Received)
Derivatives not designated as hedging instruments:
Assets
Mortgage-backed securities forwards$7 $(2)
Interest rate swaptions15 (3)
Total derivative assets$22 $(5)
Liabilities
Mortgage-backed securities forwards$2 $10 
Interest rate swaps (1)
30 47 
Total derivative liabilities$32 $57 
(1)Variation margin pledged to, or received from, a Central Counterparty Clearing House to cover the prior day's fair value of open positions is considered settlement of the derivative position for accounting purposes.
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)
The following table presents the effect of the Company’s cash flow derivative instruments on Accumulated other comprehensive loss:

Three Months Ended March 31,
20252024
Amount of gain (loss) recognized in accumulated other comprehensive loss
$— $91 
Amount reclassified from accumulated other comprehensive loss to interest expense
$(9)$(23)
Schedule of Net Gain (Loss) Recognized in Income on Derivative Instruments
The following table presents the net gain (loss) recognized on derivatives not designated as hedging instruments, net of the impact of offsetting positions:
Three Months Ended March 31,
20252024
Derivatives not designated as hedging instruments
Income Statement Classification
FuturesNet return on mortgage servicing rights$— $2 
Interest rate swaps and swaptionsNet return on mortgage servicing rights— (34)
Mortgage-backed securities forwardsNet return on mortgage servicing rights— (12)
Rate lock commitments, MBS forwards, and US Treasury Futures
Net gain on loan sales(7)22 
Interest rate swaps (1)
Other non-interest income— (3)
Total derivative (loss) gain$(7)$(25)
(1) Includes customer-initiated commercial interest rate swaps.
Schedule of Cash and Cash Equivalents
The following table provides a reconciliation of cash, cash equivalents and restricted cash within the Condensed Consolidated Statements of Condition that sum to the total of the same amounts shown in the Condensed Consolidated Statements of Cash Flows:

March 31, 2025
Cash and cash equivalents
$12,614 
Restricted cash included in other assets
33 
Total
$12,647 
Schedule of Restrictions on Cash and Cash Equivalents
The following table provides a reconciliation of cash, cash equivalents and restricted cash within the Condensed Consolidated Statements of Condition that sum to the total of the same amounts shown in the Condensed Consolidated Statements of Cash Flows:

March 31, 2025
Cash and cash equivalents
$12,614 
Restricted cash included in other assets
33 
Total
$12,647