Summarized Quarterly Results (Unaudited)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Summarized Quarterly Results (Unaudited)

Summarized Quarterly Results (Unaudited)

The following is a presentation of the results of operations for the quarters ended December 31, 2019, September 30, 2019, June 30, 2019 and March 31, 2019.

	For the Quarter Ended
	December 31, 2019			September 30, 2019			June 30, 2019			March 31, 2019
	(dollars in thousands, except per share data)
Net Interest Income:
Interest income	$	340,662		$	330,144		$	339,914		$	350,389
Interest expense	169,203			188,551			198,110			202,950
Net interest income	171,459			141,593			141,804			147,439
Net other-than-temporary credit impairment losses	—			—			—			(4,853		)
Net gains (losses) on derivatives	78,030			(136,671		)	(237,079		)	(204,638		)
Net unrealized gains (losses) on financial instruments at fair value	(112,751		)	130,825			190,748			200,812
Net realized gains (losses) on sales of investments	17,687			1,596			(7,526		)	8,603
Gain (loss) on Extinguishment of Debt	9,926			—			(608		)	—
Total other expenses	33,998			31,015			28,424			29,216
Net income (loss)	$	130,318		$	106,326		$	58,760		$	118,147
Dividend on preferred stock	$	18,438		$	18,438		$	18,438		$	17,392
Net income (loss) available to common shareholders	$	111,880		$	87,888		$	40,322		$	100,755
Net income per common share-basic	$	0.60		$	0.47		$	0.22		$	0.54

The following is a presentation of the results of operations for the quarters ended December 31, 2018, September 30, 2018, June 30, 2018 and March 31, 2018.

	For the Quarter Ended
	December 31, 2018			September 30, 2018			June 30, 2018			March 31, 2018
	(dollars in thousands, except per share data)
Net Interest Income:
Interest income	$	348,033		$	321,715		$	306,436		$	297,132
Interest expense	193,920			174,671			161,266			149,251
Net interest income	154,113			147,044			145,170			147,881
Net other-than-temporary credit impairment losses	(4,269		)	(7,233		)	(9,131		)	(1,158		)
Net gains (losses) on derivatives	(315,877		)	74,078			24,502			94,504
Net unrealized gains (losses) on financial instruments at fair value	84,836			(34,306		)	(18,364		)	14,466
Net realized gains (losses) on sales of investments	1,213			(6,123		)	2,167			—
Gain (loss) on Extinguishment of Debt	7,055			9,263			387			9,670
Total other expenses	29,855			25,395			26,587			26,322
Net income (loss)	$	(102,798	)	$	157,321		$	118,108		$	239,007
Dividend on preferred stock	$	14,437		$	9,960		$	9,400		$	9,400
Net income (loss) available to common shareholders	$	(117,235	)	$	147,361		$	108,708		$	229,607
Net income per common share-basic	$	(0.63	)	$	0.79		$	0.58		$	1.22