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Consolidated Statements of Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest income $ 44,502 $ 26,925 $ 128,207 $ 78,037
Interest expense 31,256 14,751 88,345 40,521
Net interest income 13,246 12,174 39,862 37,516
(Loss) gain on derivative instruments, net 50,709 (19,499) 229,941 (78,520)
Gain (loss) on sale of investments, net 4,605 (1,726) (5,755) (17,945)
Fair value adjustments, net (13) 12 (42) 68
Other operating income (expense), net 25 (409) 50 (1,001)
General and administrative expenses:        
Compensation and benefits (1,786) (1,712) (5,430) (5,425)
Other general and administrative (1,972) (2,252) (6,547) (6,188)
Net (loss) income (36,604)   (207,803) 85,545
Preferred stock dividends (3,341)   (9,606) (8,838)
Net (loss) income to common shareholders (39,945) 22,630 (217,409) 76,707
Other comprehensive income:        
Unrealized gain (loss) on available-for-sale investments, net 59,800 (23,574) 247,199 (94,919)
Reclassification adjustment for (gain) loss on sale of investments, net (4,605) 1,726 5,755 17,945
Reclassification adjustment for de-designated cash flow hedges 0 (66) (165) (162)
Total other comprehensive income (loss) 55,195 (21,914) 252,789 (77,136)
Comprehensive income (loss) to common shareholders $ 15,250 $ 716 $ 35,380 $ (429)
Net (loss) income per common share-basic and diluted $ (1.65) $ 1.18 $ (9.12) $ 4.06
Weighted average common shares-basic and diluted 24,174 19,242 23,847 18,879