| Interest Income and Interest Expense Disclosure |
NET INTEREST INCOME/EXPENSE Net interest income/expense for the three and nine months ended December 31, 2022, and December 31, 2021 includes:
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Three months ended December 31, 2022 |
|
Three months ended December 31, 2021 |
| Interest income: |
|
|
(Restated) |
| Interest income on securities repurchased under reverse repurchase agreements and amounts due from banks |
$ |
4,062 |
|
|
$ |
280 |
|
| Interest income on trading securities |
44,760 |
|
|
20,745 |
|
| Interest income on available-for-sale securities |
6,727 |
|
|
6,470 |
|
Interest income on margin lending (2)
|
12,379 |
|
|
4,921 |
|
| Interest income on loans issued |
12,327 |
|
|
1,241 |
|
| Total interest income |
$ |
80,255
|
|
|
$ |
33,657
|
|
|
|
|
|
| Interest expense: |
|
|
|
| Interest expense on securities repurchase agreement obligations |
$ |
39,958 |
|
|
$ |
15,671 |
|
| Interest expense on customer liabilities |
11,149 |
|
|
5,732 |
|
| Interest expense on debt securities issued |
842 |
|
|
394 |
|
| Other interest expense |
88 |
|
|
93 |
|
| Total interest expense |
$ |
52,037
|
|
|
$ |
21,890
|
|
|
|
|
|
| Net interest income |
$ |
28,218
|
|
|
$ |
11,767
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine months ended December 31, 2022 |
|
Nine months ended December 31, 2021 |
| Interest income: |
|
|
(Restated) |
| Interest income on securities repurchased under reverse repurchase agreements and amounts due from banks |
$ |
6,198 |
|
|
$ |
887 |
|
| Interest income on trading securities |
116,922 |
|
|
54,966 |
|
| Interest income on available-for-sale securities |
13,280 |
|
|
16,244 |
|
Interest income on margin lending (2)
|
27,259 |
|
|
8,212 |
|
| Interest income on loans issued |
24,158 |
|
|
2,205 |
|
| Total interest income |
$ |
187,817
|
|
|
$ |
82,514
|
|
|
|
|
|
| Interest expense: |
|
|
|
| Interest expense on securities repurchase agreement obligations |
$ |
105,466 |
|
|
$ |
38,548 |
|
| Interest expense on customer accounts and deposits |
24,780 |
|
|
12,645 |
|
| Interest expense on debt securities issued |
2,457 |
|
|
1,323 |
|
| Interest expense on loans received |
268 |
|
|
291 |
|
| Other interest expense |
— |
|
|
45 |
|
| Total interest expense |
$ |
132,971
|
|
|
$ |
52,852
|
|
|
|
|
|
| Net interest income |
$ |
54,846
|
|
|
$ |
29,662
|
|
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(2) Amounts for the three and nine months ended December 31, 2021, are shown after reclassification of interest income from margin lending. Please see Note 4
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