Note 13 - Income Taxes (Tables)

3 Months Ended

Mar. 31, 2013

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	March 31, 2013
	(in thousands)
GAAP Net income	$	10,976
Book to tax differences :
Net book/tax differences on Non-Agency Securities		(1,726	)
Unrealized change in the fair value of derivatives		(3,444	)
Income tax expense		2
Estimated taxable income	$	5,808