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Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Interest income $ 60,051 $ 96,468 $ 170,168
Interest expense (5,671) (32,615) (114,111)
Net interest income 54,380 63,853 56,057
Realized gain (loss) on sale of investments, net 6,705 308,084 (5,755)
Unrealized (loss) gain on investments, net (14,814) 20 (56)
Gain (loss) on derivative instruments, net (81,417) 172,290 186,949
Other operating (expense) income, net (1,342) (1,057) 22
General and administrative expenses:      
Compensation and benefits (12,757) (11,743) (7,520)
Other general and administrative (11,328) (9,337) (8,467)
Net income (loss) 102,261 177,530 (152,668)
Preferred stock dividends (8,329) (13,599) (12,967)
Preferred stock redemption charge (2,987) (3,914) 0
Net income (loss) to common shareholders 90,945 160,017 (165,635)
Other comprehensive income:      
Unrealized (loss) gain on available-for-sale investments, net (66,827) 214,539 203,995
Reclassification adjustment for realized (gain) loss on available-for-sale investments, net (6,705) (308,084) 5,755
Reclassification adjustment for de-designated cash flow hedges 0 0 (165)
Total other comprehensive (loss) income (73,532) (93,545) 209,585
Comprehensive income to common shareholders $ 17,413 $ 66,472 $ 43,950
Weighted average common shares-basic (in shares) 32,596,272 23,106,200 23,620,125
Weighted average common shares-diluted (in shares) 32,761,331 23,106,200 23,620,125
Net income (loss) per common share-basic (in dollars per share) $ 2.79 $ 6.93 $ (7.01)
Net income (loss) per common share-diluted (in dollars per share) $ 2.78 $ 6.93 $ (7.01)