“March 31, 2025 Due to Change in Average Total Increase / (Decrease) Borrowing / Swap Balance Borrowing / Swap Rate Investment securities repurchase agreement and other debt interest expense $ 44 $ 172 $ (128) TBA dollar roll income - implied interest expense 8 32 (24) Interest rate swap periodic income/cost 111 (182) 293 Total change in economic interest expense $ 163 $ 22 $ 141 Our average mortgage borrowings, inclusive of TBAs, increased 27% for the three months ended March 31, 2026, consistent with the increase to our average investment portfolio.”
“Goodwill is not subject to amortization but must be tested for impairment at least annually and at interim periods when events or circumstances may make it more likely than not that an impairment has occurred.”
“The increase was primarily due to increased restructuring charges related to Project Fortify Phase 2, increased amortization expense associated with the UW Solutions transaction and incremental stock-based compensation expense related to CEO transition costs, partially offset by lower transaction-related costs and lower incentive compensation expense.”