XML 20 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Interest Income      
Residential loans $ 154,362 $ 137,804 $ 114,715
Commercial loans 345 30,496 46,933
Real estate securities 90,803 76,873 97,448
Other interest income 2,547 1,182 336
Total interest income 248,057 246,355 259,432
Interest Expense      
Short-term debt (36,851) (22,287) (30,572)
Asset-backed securities issued (19,108) (14,735) (21,469)
Long-term debt (52,857) (51,506) (43,842)
Total interest expense (108,816) (88,528) (95,883)
Net Interest Income 139,241 157,827 163,549
Reversal of provision for loan losses 0 7,102 355
Net Interest Income after Provision 139,241 164,929 163,904
Non-interest Income      
Mortgage banking activities, net 53,908 38,691 10,972
Mortgage servicing rights income (loss), net 7,860 14,353 (3,922)
Investment fair value changes, net 10,374 (28,574) (21,357)
Other income 4,576 6,338 3,192
Realized gains, net 13,355 28,009 36,369
Total non-interest income, net 90,073 58,817 25,254
Operating expenses (77,156) (88,786) (97,416)
Net Income before Provision for Income Taxes 152,158 134,960 91,742
(Provision for) benefit from income taxes (11,752) (3,708) 10,346
Net Income $ 140,406 $ 131,252 $ 102,088
Basic earnings per common share (in dollars per share) $ 1.78 $ 1.66 $ 1.20
Diluted earnings per common share (in dollars per share) 1.60 1.54 1.18
Regular dividends declared per common share (in dollars per share) $ 1.12 $ 1.12 $ 1.12
Basic weighted average shares outstanding (in shares) 76,792,957 76,747,047 82,945,103
Diluted weighted average shares outstanding (in shares) 101,975,008 97,909,090 84,518,395