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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Interest income      
Residential mortgage investments $ 274,891 $ 232,435 $ 212,694
Other 1,689 964 637
Interest income 276,580 233,399 213,331
Interest expense      
Secured borrowings (206,976) (138,757) (107,653)
Unsecured borrowings (7,611) (7,610) (7,833)
Interest expense (214,587) (146,367) (115,486)
Net interest income 61,993 87,032 97,845
Other revenue (expense)      
Compensation-related expense (7,759) (4,915) (11,749)
Other general and administrative expense (4,527) (4,689) (4,682)
Miscellaneous other revenue (expense) 365 2,161 1,459
Operating expenses (11,921) (7,443) (14,972)
Net income 50,072 79,589 82,873
Less preferred stock dividends (19,368) (17,442) (15,372)
Net income available to common stockholders $ 30,704 $ 62,147 $ 67,501
Basic and diluted net income per common share $ 0.34 $ 0.65 $ 0.70