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Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest income $ 18,335 $ 13,393 $ 35,762 $ 27,285
Interest expense (4,262) (1,275) (6,010) (2,908)
Net interest income 14,073 12,118 29,752 24,377
Realized (loss) gain on sale of investments, net (18,550) 2,008 (18,550) 6,705
Unrealized (loss) gain on investments, net (65,103) 1,084 (176,354) 104
Gain (loss) on derivative instruments, net (106,412) 52,940 (326,623) (54,861)
Other operating expense, net (295) (323) (616) (703)
General and administrative expenses:        
Compensation and benefits (3,402) (3,233) (6,868) (6,329)
Other general and administrative (3,799) (2,473) (7,441) (4,845)
Net income 29,336 (43,759) 146,546 74,170
Preferred stock dividends (1,923) (1,923) (3,847) (4,482)
Preferred stock redemption charge 0 0 0 (2,987)
Net income (loss) to common shareholders 27,413 (45,682) 142,699 66,701
Other comprehensive income:        
Unrealized (loss) gain on available-for-sale investments, net (60,910) 16,278 (152,250) (44,181)
Reclassification adjustment for realized gain on available-for-sale investments, net 0 (2,008) 0 (6,705)
Total other comprehensive (loss) income (60,910) 14,270 (152,250) (50,886)
Comprehensive (loss) income to common shareholders $ (33,497) $ (31,412) $ (9,551) $ 15,815
Weighted average common shares-basic (in shares) 39,190,251 31,973,587 37,964,617 29,395,463
Weighted average common shares-diluted (in shares) 39,558,462 31,973,587 38,332,828 29,560,522
Net income (loss) per common share-basic (in dollars per share) $ 0.70 $ (1.43) $ 3.76 $ 2.27
Net income (loss) per common share-diluted (in dollars per share) 0.69 (1.43) 3.72 2.26
Common Stock, Dividends, Per Share, Declared $ 0.39 $ 0.39 $ 0.78 $ 0.78