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Quarterly Financial Data (unaudited)
 12 Months Ended
Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Data (unaudited)
Note 17 - Quarterly Financial Data (unaudited)

The following tables are a comparative breakdown of our unaudited quarterly financial results for the immediately preceding eight quarters.

 
Quarter Ended
 
March 31,
2019
 
June 30,
2019
 
September 30,
2019
 
December 31,
2019
Agency Securities, net of amortization of premium and fees
$
79,832

 
$
113,438

 
$
102,134

 
$
87,407

Credit Risk and Non-Agency Securities, including discount accretion
13,592

 
13,383

 
13,158

 
12,785

Interest-Only Securities
345

 
251

 
—

 
—

U.S. Treasury Securities
482

 
744

 
128

 
—

BUCKLER Subordinated loans
539

 
544

 
479

 
324

Interest expense- repurchase agreements
(60,978
)
 
(87,504
)
 
(80,293
)
 
(59,454
)
Net Interest Income
$
33,812

 
$
40,856

 
$
35,606

 
$
41,062

Realized loss on sale of Agency Securities (reclassified from Other comprehensive income (loss))
(2,910
)
 
(44
)
 
4,569

 
7,996

Gain (Loss) on Credit Risk and Non-Agency Securities
496

 
(17,699
)
 
(8,842
)
 
1,650

Gain (Loss) on Interest-Only Securities
(368
)
 
490

 
—

 
—

Gain (loss) U.S. Treasury Securities
(693
)
 
3,453

 
(736
)
 
—

Realized gain (loss) on derivatives (1)
(22,131
)
 
(92,990
)
 
(85,076
)
 
(13,799
)
Unrealized gain (loss) on derivatives
(113,067
)
 
(107,304
)
 
3,845

 
80,399

Expenses
(9,520
)
 
(10,012
)
 
(10,321
)
 
(8,627
)
Net Income (Loss)
$
(114,381
)
 
$
(183,250
)
 
$
(60,955
)
 
$
108,681

Dividends declared on preferred stock
(4,259
)
 
(4,274
)
 
(3,410
)
 
(3,691
)
Net Income (Loss) available (related) to common stockholders
$
(118,640
)
 
$
(187,524
)
 
$
(64,365
)
 
104,990

Net income (loss) available (related) per share to common stockholders – Basic
$
(2.21
)
 
$
(3.14
)
 
$
(1.09
)
 
$
1.78

Net income (loss) available (related) per share to common stockholders – Diluted
$
(2.21
)
 
$
(3.14
)
 
$
(1.09
)
 
$
1.78

Dividends declared per common share
$
0.57

 
$
0.57

 
$
0.51

 
$
0.51

Weighted average common shares outstanding – Basic
53,630

 
59,654

 
59,077

 
58,902

Weighted average common shares outstanding – Diluted
53,630

 
59,654

 
59,077

 
59,149


 
Quarter Ended
 
March 31,
2018
 
June 30,
2018
 
September 30,
2018
 
December 31,
2018
Agency Securities, net of amortization of premium and fees
$
52,253

 
$
47,809

 
$
56,787

 
$
61,542

Credit Risk and Non-Agency Securities, including discount accretion
14,006

 
14,330

 
14,573

 
13,518

Interest-Only Securities
442

 
417

 
413

 
395

U.S. Treasury Securities
844

 
2,805

 
404

 
591

BUCKLER Subordinated loans
624

 
430

 
457

 
508

Interest expense- repurchase agreements
(32,018
)
 
(35,706
)
 
(40,359
)
 
(46,147
)
Net Interest Income
$
36,151

 
$
30,085

 
$
32,275

 
$
30,407

Realized loss on sale of Agency Securities (reclassified from Other comprehensive income (loss))
(32,603
)
 
(25,316
)
 
(31,136
)
 
(63,895
)
OTTI of Agency Securities
(12,090
)
 
—

 
—

 
—

Gain (Loss) on Credit Risk and Non-Agency Securities
1,283

 
(3,234
)
 
(2,115
)
 
(23,200
)
Gain (Loss) on Interest-Only Securities
298

 
(450
)
 
210

 
(1,065
)
Gain (loss) U.S. Treasury Securities
2,576

 
(8,884
)
 
(84
)
 
27

Realized gain (loss) on derivatives (1)
(38,604
)
 
(14,341
)
 
3,739

 
1,709

Unrealized gain (loss) on derivatives
97,201

 
45,054

 
54,169

 
(147,108
)
Expenses
(9,465
)
 
(9,352
)
 
(9,354
)
 
(8,854
)
Net Income (Loss)
$
44,747

 
$
13,562

 
$
47,704

 
$
(211,979
)
Dividends declared on preferred stock
(4,253
)
 
(4,259
)
 
(4,259
)
 
(4,261
)
Net Income (Loss) available (related) to common stockholders
$
40,494

 
$
9,303

 
$
43,445

 
$
(216,240
)
Net income (loss) available (related) per share to common stockholders – Basic
$
0.97

 
$
0.22

 
$
1.03

 
$
(5.07
)
Net income (loss) available (related) per share to common stockholders – Diluted
$
0.96

 
$
0.22

 
$
1.02

 
$
(5.07
)
Dividends declared per common share
$
0.57

 
$
0.57

 
$
0.57

 
$
0.57

Weighted average common shares outstanding – Basic
41,887

 
41,912

 
42,047

 
42,656

Weighted average common shares outstanding – Diluted
42,331

 
42,328

 
42,435

 
42,656


(1) Interest expense related to our interest rate swap contracts is recorded in realized loss on derivatives on the consolidated statements of operations.