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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenue:        
Interest income $ 38,621 $ 30,859 $ 71,986 $ 61,564
Interest expense (13,475) (11,092) (25,488) (23,231)
Net interest margin 25,146 19,767 46,498 38,333
Revenue from real estate owned 0 3,764 2,672 6,421
Total revenue 25,146 23,531 49,170 44,754
Expenses:        
Management and incentive fees to affiliate 3,766 2,951 6,740 5,518
Professional fees 1,100 615 1,878 1,400
General and administrative expenses 1,587 1,195 3,200 2,351
General and administrative expenses reimbursed to affiliate 796 788 1,631 1,540
Expenses from real estate owned 0 3,842 4,309 7,120
Total expenses 7,249 9,391 17,758 17,929
Provision for current expected credit losses 7,768 (3,883) 7,174 (7,123)
Gain on sale of real estate owned 0 0 2,197 0
Income before income taxes 10,129 18,023 26,435 33,948
Income tax expense, including excise tax 98 408 204 593
Net income attributable to common stockholders $ 10,031 $ 17,615 $ 26,231 $ 33,355
Earnings per common share:        
Basic earnings per common share (in dollars per share) $ 0.20 $ 0.43 $ 0.54 $ 0.88
Diluted earnings per common share (in dollars per share) $ 0.20 $ 0.43 $ 0.53 $ 0.88
Weighted average number of common shares outstanding:        
Basic weighted average shares of common stock outstanding (in shares) 50,562,559 41,009,175 48,892,754 37,731,317
Diluted weighted average shares of common stock outstanding (in shares) 50,999,505 41,294,597 49,336,267 38,025,933
Dividends declared per share of common stock (in dollars per share) $ 0.35 $ 0.35 $ 0.70 $ 0.70