CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Interest income
Interest on bonds	$ 481	$ 2,178	$ 3,106	$ 7,425
Interest on loans and short-term investments	1,701	802	3,931	2,464
Total interest income	2,182	2,980	7,037	9,889
Asset related interest expense
Bond related debt	0	630	428	1,914
Non-bond related debt	51	0	169	0
Total interest expense	51	630	597	1,914
Net interest income	2,131	2,350	6,440	7,975
Non-interest income
Equity in income from unconsolidated funds and ventures	6,024	3,273	15,643	5,655
Net gains on bonds	2,156	5,080	26,420	5,080
Net (losses) gains on derivatives	(679)	1,102	(3,993)	5,464
Net losses on extinguishment of liabilities	0	(14)	(30)	(14)
Other income	80	28	112	189
Non-interest income	7,581	10,561	38,152	17,466
Other expenses
Interest expense	1,207	1,166	3,613	3,353
Salaries and benefits	0	33	0	1,128
External management fees and reimbursable expenses	1,646	1,059	6,042	5,762
General and administrative	237	328	855	1,032
Professional fees	608	1,230	1,826	5,031
Impairments	0	0	0	388
Other expenses	412	625	482	907
Total other expenses	4,110	4,441	12,818	17,601
Net gains on real estate and other investments	0	1,092	0	1,092
Net income from continuing operations before income taxes	5,602	8,470	31,774	7,840
Income tax expense	(26)	(122)	(89)	(86)
Net income from continuing operations	5,576	8,348	31,685	7,754
Net income (loss) from discontinued operations, net of tax	0	276	(8)	21,972
Net income	$ 5,576	$ 8,624	$ 31,677	$ 29,726
Basic income per common share:
Income from continuing operations	$ 0.95	$ 1.44	$ 5.38	$ 1.36
Income from discontinued operations		0.05		3.84
Income per common share	0.95	1.49	5.38	5.20
Diluted income per common share:
Income from continuing operations (in dollars per share)	0.95	1.37	5.38	1.36
Income from discontinued operations (in dollars per share)		0.04		3.84
Income per common share (in dollars per share)	$ 0.95	$ 1.41	$ 5.38	$ 5.20
Weighted-average common shares outstanding:
Basic (in shares)	5,887	5,804	5,884	5,717
Diluted (in shares)	5,887	6,087	5,884	5,717