Income Taxes (Tables)

3 Months Ended

Mar. 31, 2021

Income Taxes

Schedule of reconciliation of federal income tax determined using statutory federal tax rate to reported income tax provision

The following table is a reconciliation of our U.S. federal income tax provision (benefit) determined using our statutory federal tax rate to our reported income tax (benefit) provision for the three months ended March 31, 2021 and 2020 (dollars in thousands):

	For the Three Months Ended March 31,
	2021				2020
Federal statutory tax rate	$	26,199	21.0	%	$	(15,329)	21.0	%
REIT and other non-taxable loss		(24,501)	(19.6)	%		9,914	(13.6)	%
State income taxes		558	0.4	%		(1,779)	2.4	%
Federal benefit of state tax deduction		(117)	(0.1)	%		374	(0.5)	%
Other		91	0.1	%		91	(0.1)	%
Effective tax rate	$	2,230	1.8	%	$	(6,729)	9.2	%