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Shareholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2023
Equity [Abstract]  
Schedule of Preferred Stock Issued and Outstanding
The following table summarizes the Company’s preferred stock issued and outstanding as of December 31, 2023 and 2022 (in thousands, except for share amounts and percentages):

Shares Issued and Outstanding as of December 31, 2023 and 2022
Liquidation Preference
as of December 31, 2023 and 2022(2)
Issue Date
Dividend Rate in Effect at December 31, 2023 and 2022(3)
Next dividend rate reset dateDividend rate after reset date
Series A10,000,000 $250,000 March 5, 20196.150 %March 15, 2024
3M Term SOFR(1) plus 3.65%
Series B300,000 300,000 March 2, 20214.650 %June 15, 2026
5 Yr U.S. Treasury plus 4.076%
Series C300,000 300,000 October 13, 20214.125 %December 15, 2026
5 Yr U.S. Treasury plus 3.149%
Total10,600,000 $850,000 
(1) 3M Term SOFR includes a credit spread adjustment of 0.10%.
(2) The Series A Preferred Stock has a redemption price of $25.00 per share, plus any declared and unpaid dividends to, but excluding, the redemption date without accumulation of any undeclared dividends. The Series B Preferred Stock and Series C Preferred Stock each have a redemption price of $1,000.00 per share, plus any declared and unpaid dividends to, but excluding, the redemption date without accumulation of any undeclared dividends.
(3) Dividends on preferred stock are discretionary and non-cumulative. When declared, dividends on the Series A Preferred Stock are reset quarterly and payable quarterly in arrears and dividends on the Series B Preferred Stock and Series C Preferred Stock are reset every five years and payable quarterly in arrears.