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Consolidated Statements of Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Interest income $ 42,212 $ 18,335 $ 73,058 $ 35,762
Interest expense (45,142) (4,262) (76,450) (6,010)
Net interest (expense) income (2,930) 14,073 (3,392) 29,752
Realized loss on sales of investments, net (51,601) (18,550) (74,916) (18,550)
Unrealized gain (loss) on investments, net 488 (65,103) 57,609 (176,354)
Gain on derivative instruments, net 116,012 106,412 48,745 326,623
Total other gains, net 64,899 22,759 31,438 131,719
Noninterest Expense [Abstract]        
Compensation and benefits (3,617) (3,402) (7,367) (6,868)
Other general and administrative (3,580) (3,799) (7,202) (7,441)
Other operating expenses (435) (295) (861) (616)
Total operating expenses (7,632) (7,496) (15,430) (14,925)
Net income 54,337 29,336 12,616 146,546
Preferred stock dividends (1,923) (1,923) (3,847) (3,847)
Net (loss) income to common stockholders 52,414 27,413 8,769 142,699
Other comprehensive income:        
Unrealized (loss) gain on available-for-sale investments, net (9,443) (60,910) 5,350 (152,250)
Total other comprehensive (loss) gain (9,443) (60,910) 5,350 (152,250)
Comprehensive income (loss) to common shareholders $ 42,971 $ (33,497) $ 14,119 $ (9,551)
Weighted average common shares-basic (in shares) 54,137,327 39,190,251 53,981,463 37,964,617
Weighted average common shares-diluted (in shares) 54,585,082 39,558,462 54,327,385 38,332,828
Net income (loss) per common share-basic (in dollars per share) $ 0.97 $ 0.70 $ 0.16 $ 3.76
Net income (loss) per common share-diluted (in dollars per share) 0.96 0.69 0.16 3.72
Common Stock, Dividends, Per Share, Declared $ 0.39 $ 0.39 $ 0.78 $ 0.78