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Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Interest Income and Interest Expense        
Interest Income $ 59,984 $ 69,854 $ 180,048 $ 221,654
Interest Expense (20,979) (21,450) (63,286) (85,772)
Net Interest Income 39,005 48,404 116,762 135,882
Other Revenue        
Other Income, net 97 81 350 528
Total Other Revenue 97 81 350 528
Other Expenses        
Professional Fees 1,044 1,613 3,380 7,468
General and Administrative 1,173 862 3,285 2,702
Stock Compensation Expense 1,250 1,147 4,099 4,234
Servicing and Asset Management Fees 462 395 1,117 932
Management Fee 5,473 5,293 15,910 15,408
Total Other Expenses 9,402 9,310 27,791 30,744
Securities Impairments       (203,397)
Credit Loss Benefit (Expense) (139) (654) 5,751 (53,456)
Income (Loss) Before Income Taxes 29,561 38,521 95,072 (151,187)
Income Tax Expense, net (236) (74) (1,400) (228)
Net Income (Loss) 29,325 38,447 93,672 (151,415)
Preferred Stock Dividends and Participating Securities Share in Earnings (Loss) (3,279) (6,318) (16,497) (8,968)
Series B Preferred Stock Redemption Make-Whole Payment     (22,485)  
Series B Preferred Stock Accretion and Write-off of Discount, including Allocated Warrant Fair Value and Transaction Costs   (1,347) (25,449) (1,790)
Net Income (Loss) Attributable to Common Stockholders - See Note 12 $ 26,046 $ 30,782 $ 29,241 $ (162,173)
Earnings (Loss) per Common Share, Basic $ 0.34 $ 0.40 $ 0.38 $ (2.13)
Earnings (Loss) per Common Share, Diluted $ 0.32 $ 0.39 $ 0.36 $ (2.13)
Weighted Average Number of Common Shares Outstanding        
Basic: 77,060,225 76,756,411 76,952,306 76,622,415
Diluted: 82,028,975 78,254,661 81,575,257 76,622,415
Other Comprehensive Income (Loss)        
Net Income (Loss) $ 29,325 $ 38,447 $ 93,672 $ (151,415)
Unrealized Loss on Available-for-Sale Debt Securities       (1,051)
Comprehensive Net Income (Loss) $ 29,325 $ 38,447 $ 93,672 $ (152,466)