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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
CONSOLIDATED STATEMENTS OF INCOME (Unaudited)        
Interest income $ 259,778 $ 125,480 $ 627,804 $ 321,772
Interest expense 160,452 55,560 350,079 144,122
Net interest income 99,326 69,920 277,725 177,650
Other revenue:        
Gain on sales, including fee-based services, net 14,360 16,334 32,526 86,102
Mortgage servicing rights 19,408 32,453 52,287 95,688
Servicing revenue, net 22,744 20,088 64,513 50,939
Property operating income 445   1,031  
(Loss) gain on derivative instruments, net (15,909) (1,492) 10,083 (7,320)
Other income, net (6,014) 2,195 (16,061) 4,140
Total other revenue 35,034 69,578 144,379 229,549
Other expenses:        
Employee compensation and benefits 38,811 41,973 119,736 128,647
Selling and administrative 13,225 11,757 40,960 33,707
Property operating expenses 366 149 1,443 421
Depreciation and amortization 2,078 1,807 6,092 5,349
Provision for loss sharing (net of recoveries) 412 (3,272) (2,199) (1,070)
Provision for credit losses (net of recoveries) 2,274 (3,799) 9,700 (12,689)
Total other expenses 57,166 48,615 175,732 154,365
Income before extinguishment of debt, sale of real estate, income from equity affiliates and income taxes 77,194 90,883 246,372 252,834
Loss on extinguishment of debt (3,262)   (4,612) (1,370)
Gain on sale of real estate       1,228
Income from equity affiliates 4,748 5,086 18,507 32,095
Benefit from (provision for) income taxes 374 (9,905) (13,166) (33,356)
Net income 79,054 86,064 247,101 251,431
Preferred stock dividends 10,342 4,913 30,612 13,216
Net income attributable to noncontrolling interest 6,002 8,347 19,811 26,806
Net income attributable to common stockholders $ 62,710 $ 72,804 $ 196,678 $ 211,409
Basic earnings per common share $ 0.37 $ 0.51 $ 1.21 $ 1.57
Diluted earnings per common share $ 0.36 $ 0.51 $ 1.18 $ 1.56
Weighted average shares outstanding:        
Basic 170,227,553 142,624,300 162,292,235 134,437,663
Diluted 205,865,016 160,270,905 195,529,340 152,691,461
Dividends declared per common share $ 0.39 $ 0.35 $ 1.14 $ 1.02