CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands |
3 Months Ended |
Mar. 31, 2018 |
Mar. 31, 2017 |
| Interest income: |
|
|
| Residential mortgage investments |
$ 69,138
|
$ 54,841
|
| Other |
408
|
153
|
| Interest income |
69,546
|
54,994
|
| Interest expense: |
|
|
| Secured borrowings |
(45,021)
|
(28,240)
|
| Unsecured borrowings |
(1,891)
|
(1,891)
|
| Interest expense |
(46,912)
|
(30,131)
|
| Net interest income (expense) |
22,634
|
24,863
|
| Other revenue (expense): |
|
|
| Compensation-related expense |
(2,048)
|
(1,115)
|
| Other general and administrative expense |
(1,237)
|
(1,062)
|
| Miscellaneous other revenue |
71
|
15
|
| Operating expenses |
(3,214)
|
(2,162)
|
| Net income |
19,420
|
22,701
|
| Net income available to common stockholders: |
|
|
| Net income |
19,420
|
22,701
|
| Less preferred stock dividends |
(4,842)
|
(3,864)
|
| Net income available to common stockholders |
$ 14,578
|
$ 18,837
|
| Net income per common share: |
|
|
| Basic and diluted |
$ 0.16
|
$ 0.20
|
| Weighted average common shares outstanding: |
|
|
| Basic (in shares) |
93,425
|
95,755
|
| Diluted (in shares) |
93,506
|
95,875
|
| Cash dividends declared per share: |
|
|
| Common (in dollars per share) |
$ 0.16
|
$ 0.21
|
| Series E Preferred [Member] |
|
|
| Cash dividends declared per share: |
|
|
| Series E preferred (in dollars per share) |
$ 0.47
|
$ 0.47
|