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Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Interest income $ 20,404 $ 15,714 $ 56,167 $ 43,000
Interest expense (13,282) (1,320) (19,292) (4,228)
Net interest income 7,122 14,394 36,875 38,772
Realized (loss) gain on sale of investments, net (70,967) 0 (89,517) 6,705
Unrealized loss on investments, net (69,197) (3,085) (245,551) (2,981)
Gain on derivative instruments, net 96,947 9,603 423,570 64,463
Other operating expenses, net (433) (330) (1,049) (1,033)
Noninterest Expense [Abstract]        
Compensation and benefits (6,104) (2,977) (12,972) (9,306)
Other general and administrative (4,042) (3,572) (11,484) (8,417)
Net income (46,674) 14,033 99,872 88,203
Preferred stock dividends (1,923) (1,923) (5,770) (6,405)
Preferred stock redemption charge 0 0 0 (2,987)
Net (loss) income to common shareholders (48,597) 12,110 94,102 78,811
Other comprehensive income:        
Unrealized loss on available-for-sale investments, net (65,133) (9,139) (217,383) (53,320)
Reclassification adjustment for realized loss (gain) on available-for-sale investments, net 14,025 0 14,025 (6,705)
Total other comprehensive loss (51,108) (9,139) (203,358) (60,025)
Comprehensive (loss) income to common shareholders $ (99,705) $ 2,971 $ (109,256) $ 18,786
Weighted average common shares-basic (in shares) 45,347,852 34,924,449 40,452,740 31,258,711
Weighted average common shares-diluted (in shares) 45,347,852 35,089,508 40,740,690 31,423,770
Net income (loss) per common share-basic (in dollars per share) $ (1.07) $ 0.35 $ 2.33 $ 2.52
Net income (loss) per common share-diluted (in dollars per share) (1.07) 0.35 2.31 2.51
Common Stock, Dividends, Per Share, Declared $ 0.39 $ 0.39 $ 1.17 $ 1.17