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Consolidated Statements Of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Interest Income        
Residential loans $ 25,808 $ 13,601 $ 50,817 $ 26,259
Commercial loans 12,679 11,217 23,593 21,601
Real estate securities 24,839 33,170 52,614 65,601
Other interest income 47 5 95 8
Total interest income 63,373 57,993 127,119 113,469
Interest Expense        
Short-term debt (6,527) (5,142) (13,751) (8,969)
Asset-backed securities issued (5,645) (8,183) (11,847) (16,624)
Long-term debt (10,836) (7,826) (21,371) (14,618)
Total interest expense (23,008) (21,151) (46,969) (40,211)
Net Interest Income 40,365 36,842 80,150 73,258
Reversal of (provision for) loan losses 261 315 55 (967)
Net Interest Income After Provision 40,626 37,157 80,205 72,291
Noninterest Income        
Mortgage banking and investment activities [1] 5,659 2,189 6,437 (4,181)
Mortgage servicing rights income (loss), net 830 (1,777) (10,094) (1,171)
Other income 1,299 0 2,108 0
Realized gains, net 6,316 1,063 10,622 2,155
Total non-interest income (loss) 14,104 1,475 9,073 (3,197)
Operating expenses (25,218) (22,282) (50,281) (42,254)
Net income before provision for income taxes 29,512 16,350 38,997 26,840
(Provision for) benefit from income taxes (2,448) (333) 2,868 1,510
Net Income $ 27,064 $ 16,017 $ 41,865 $ 28,350
Basic earnings per common share (usd per share) $ 0.31 $ 0.19 $ 0.48 $ 0.33
Diluted earnings per common share (usd per share) 0.31 0.18 0.47 0.32
Regular dividends declared per common share (usd per share) $ 0.28 $ 0.28 $ 0.56 $ 0.56
Basic weighted average shares outstanding (shares) 83,936,844 82,740,012 83,650,170 82,575,636
Diluted weighted average shares outstanding (shares) 94,949,741 85,032,998 85,473,905 84,994,321
[1] For the three months ended June 30, 2015, there were no other-than-temporary impairments. For the three months ended June 30, 2014, other-than-temporary impairments were $2,915, of which $264 were recognized through the Income Statement and $2,651 were recognized in Accumulated Other Comprehensive Income.For the six months ended June 30, 2015, there were no other-then-temporary impairments. For the six months ended June 30, 2014, other-than-temporary impairments were $4,585, of which $377 were recognized through the Income Statement, and $4,208 were recognized in Accumulated Other Comprehensive Income.