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Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
INTEREST INCOME        
Interest Income $ 61,915 $ 70,051 $ 120,064 $ 151,800
Interest Expense (22,017) (25,865) (42,307) (64,322)
Net Interest Income 39,898 44,186 77,757 87,478
OTHER REVENUE        
Other Income, net 157 119 253 447
Total Other Revenue 157 119 253 447
OTHER EXPENSES        
Professional Fees 1,137 4,036 2,336 5,855
General and Administrative 1,081 860 2,112 1,840
Stock Compensation Expense 1,393 1,686 2,849 3,087
Servicing and Asset Management Fees 328 261 655 537
Management Fee 5,344 5,115 10,437 10,115
Total Other Expenses 9,283 11,958 18,389 21,434
Securities Impairments   96   (203,397)
Credit Loss Benefit (Expense) 1,852 10,546 5,890 (52,802)
Income (Loss) Before Income Taxes 32,624 42,989 65,511 (189,708)
Income Tax Expense, net (233) (61) (1,164) (154)
Net Income (Loss) 32,391 42,928 64,347 (189,862)
Preferred Stock Dividends and Participating Securities Share in Earnings (Loss) (6,947) (2,380) (13,217) (2,651)
Series B Preferred Stock Redemption Make-Whole Payment (22,485)   (22,485)  
Series B Preferred Stock Accretion and Write-off of Discount, including Allocated Warrant Fair Value and Transaction Costs (23,997) (443) (25,449) (443)
Net (Loss) Income Attributable to Common Stockholders - See Note 12 $ (21,038) $ 40,105 $ 3,196 $ (192,956)
(Loss) Earnings per Common Share, Basic $ (0.27) $ 0.52 $ 0.04 $ (2.53)
(Loss) Earnings per Common Share, Diluted $ (0.27) $ 0.52 $ 0.04 $ (2.53)
Weighted Average Number of Common Shares Outstanding        
Basic: 76,899,270 76,644,038 76,897,453 76,554,680
Diluted: 76,899,270 76,644,038 81,331,351 76,554,680
OTHER COMPREHENSIVE INCOME (LOSS)        
Net Income (Loss) $ 32,391 $ 42,928 $ 64,347 $ (189,862)
Unrealized Loss on Available-for-Sale Debt Securities   (77)   (1,051)
Comprehensive Net Income (Loss) $ 32,391 $ 42,851 $ 64,347 $ (190,913)