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Summary of Quarterly Results of Operations (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]  
Summary of quarterly results of operations (unaudited)
 
 
2013 Quarter Ended
(In Thousands, Except per Share Amounts)
 
March 31
 
June 30
 
September 30
 
December 31
Interest income
 
$
122,738

 
$
120,671

 
$
118,482

 
$
121,049

Interest expense
 
(40,158
)
 
(38,478
)
 
(41,950
)
 
(43,427
)
Net interest income
 
82,580

 
82,193

 
76,532

 
77,622

Gain on sales of MBS and U.S. Treasury securities, net
 
1,633

 
4,365

 
13,680

 
6,147

(Losses)/gains on TBA short positions
 
—

 
—

 
(8,724
)
 
1,207

Unrealized net gains/(losses) and net interest income from Linked Transactions
 
1,536

 
(295
)
 
544

 
1,440

Other income
 
55

 
55

 
55

 
54

Operating and other expense
 
(8,453
)
 
(10,845
)
 
(10,759
)
 
(7,913
)
Net income
 
77,351

 
75,473

 
71,328

 
78,557

Preferred stock dividends
 
(2,040
)
 
(4,210
)
 
(3,750
)
 
(3,750
)
Issuance costs of redeemed preferred stock
 
—

 
(3,947
)
 
—

 
—

Net income available to common stock and participating securities
 
$
75,311

 
$
67,316

 
$
67,578

 
$
74,807

Earnings per Common Share - Basic and Diluted
 
$
0.21

 
$
0.19

 
$
0.19

 
$
0.20

 
 
 
2012 Quarter Ended
(In Thousands, Except per Share Amounts)
 
March 31
 
June 30
 
September 30
 
December 31
Interest income
 
$
123,523

 
$
125,531

 
$
125,135

 
$
124,968

Interest expense
 
(40,127
)
 
(42,688
)
 
(45,801
)
 
(43,054
)
Net interest income
 
83,396

 
82,843

 
79,334

 
81,914

Net impairment losses recognized in earnings
 
(920
)
 
(280
)
 
—

 
—

Gain on sales of MBS
 
2,953

 
—

 
4,279

 
1,769

Unrealized net gains and net interest income from Linked Transactions
 
7,699

 
568

 
3,177

 
1,166

Other income
 
—

 
1

 
1

 
8

Operating and other expense
 
(8,415
)
 
(8,366
)
 
(8,650
)
 
(15,638
)
Net income
 
84,713

 
74,766

 
78,141

 
69,219

Preferred stock dividends
 
(2,040
)
 
(2,040
)
 
(2,040
)
 
(2,040
)
Net income available to common stock and participating securities
 
$
82,673

 
$
72,726

 
$
76,101

 
$
67,179

Earnings per Common Share - Basic and Diluted
 
$
0.23

 
$
0.20

 
$
0.21

 
$
0.19