Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

Schedule of Preferred Stock Issued and Outstanding

The following table summarizes the Company’s preferred stock issued and outstanding as of December 31, 2024 (in thousands, except for share amounts and percentages):

	Shares Issued and Outstanding as of December 31, 2024	Liquidation Preference as of December 31, 2024(1)		Issue Date	Dividend Rate in Effect at December 31, 2024(2)		Next dividend rate reset date	Dividend rate after reset date(3)
Series B	300,000	$	300,000	March 2, 2021	4.650	%	June 15, 2026	5 Yr U.S. Treasury plus 4.076%
Series C	300,000	300,000		October 13, 2021	4.125	%	December 15, 2026	5 Yr U.S. Treasury plus 3.149%
Series D	300,000	300,000		September 24, 2024	6.000	%	December 15, 2029	5 Yr U.S. Treasury plus 2.560%
Total	900,000	$	900,000
(1) The Series B Preferred Stock, Series C Preferred Stock and Series D Preferred Stock each have a redemption price of $1,000.00 per share, plus any declared and unpaid dividends to, but excluding, the redemption date without accumulation of any undeclared dividends.
(2) Dividends on preferred stock are discretionary and non-cumulative. When declared dividends on the Series B Preferred Stock, Series C Preferred Stock and Series D Preferred Stock are reset every five years and payable quarterly in arrears.
(3) With respect to the Series D Preferred Stock, the dividend rate during any reset period is subject to a 6.00% floor.