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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Income Statement [Abstract]            
Interest income $ 286,522     $ 336,474 $ 905,002 $ 1,000,159
Interest expense 197,710     229,180 624,613 675,749
Net interest income 88,812     107,294 280,389 324,410
Other revenue:            
Gain on sales, including fee-based services, net 18,638     18,619 52,752 55,795
Mortgage servicing rights 13,195     14,109 37,928 48,769
Servicing revenue, net 31,142     35,463 92,577 97,376
Property operating income 1,507     1,450 4,521 4,261
Gain (loss) on derivative instruments, net 822     (421) (4,711) (3,582)
Other income, net 2,537     173 6,955 5,099
Total other revenue 67,841     69,393 190,022 207,718
Other expenses:            
Employee compensation and benefits 44,881     39,810 135,411 123,518
Selling and administrative 13,141     12,367 39,897 38,574
Property operating expenses 1,686     1,479 4,948 4,227
Depreciation and amortization 1,944     2,286 6,937 7,297
Provision for loss sharing (net of recoveries) 3,180     1,679 7,787 12,528
Provision for credit losses (net of recoveries) 16,220     18,652 64,903 55,047
Total other expenses 81,052     76,273 259,883 241,191
Income before extinguishment of debt, sale of real estate, income from equity affiliates and income taxes 75,601     100,414 210,528 290,937
Loss on extinguishment of debt 0     (314) (412) (1,561)
Gain on sale of real estate 0     0 3,813 0
Income from equity affiliates 3,177     809 7,388 20,694
Benefit from (provision for) income taxes (5,233)     (5,854) (12,726) (19,436)
Net income 73,545     95,055 208,591 290,634
Preferred stock dividends 10,342     10,342 31,027 31,027
Net income attributable to noncontrolling interest 5,028     6,789 14,119 21,200
Net income attributable to common stockholders $ 58,175     $ 77,924 $ 163,445 $ 238,407
Earnings per common share            
Basic earnings per common share (in dollars per share) $ 0.31     $ 0.42 $ 0.87 $ 1.30
Diluted earnings per common share (in dollars per share) $ 0.31     $ 0.41 $ 0.86 $ 1.28
Weighted average shares outstanding:            
Basic (in shares) 188,513,832     187,023,395 188,626,263 183,340,149
Diluted (in shares) 205,347,309     221,328,818 205,448,479 217,457,399
Dividends declared per common share (in dollars per share) $ 0.43 $ 0.43 $ 0.43 $ 0.43 $ 1.29 $ 1.25