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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Interest income:        
Residential mortgage investments $ 49,845 $ 49,485 $ 162,654 $ 158,471
Other 174 88 494 281
Interest income 50,019 49,573 163,148 158,752
Interest expense:        
Secured borrowings (26,636) (22,272) (80,232) (61,584)
Unsecured borrowings (1,970) (2,122) (5,923) (6,367)
Interest expense (28,606) (24,394) (86,155) (67,951)
Net interest income (expense) 21,413 25,179 76,993 90,801
Other revenue (expense):        
Compensation-related expense (1,299) (3,064) (6,565) (7,573)
Separation of service charge (2,740) 0 (2,740) 0
Other general and administrative expense (1,239) (1,309) (3,565) (3,628)
Miscellaneous other revenue 305 261 1,300 368
Operating expenses (4,973) (4,112) (11,570) (10,833)
Net income 16,440 21,067 65,423 79,968
Net income available to common stockholders:        
Net income 16,440 21,067 65,423 79,968
Less preferred stock dividends (3,846) (3,809) (11,515) (11,339)
Net income available to common stockholders $ 12,594 $ 17,258 $ 53,908 $ 68,629
Net income per common share:        
Basic and diluted (in dollars per share) $ 0.13 $ 0.18 $ 0.56 $ 0.72
Weighted average common shares outstanding:        
Basic (in shares) 95,678 95,530 95,647 95,500
Diluted (in shares) 95,866 95,721 95,799 95,695
Cash dividends declared per share:        
Common (in dollars per share) $ 0.23 $ 0.26 $ 0.72 $ 0.88
Series E Preferred [Member]        
Cash dividends declared per share:        
Series E preferred (in dollars per share) $ 0.47 $ 0.47 $ 1.41 $ 1.41