XML 20 R5.htm IDEA: XBRL DOCUMENT v3.25.0.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Statement [Abstract]      
Interest income $ 1,167,872 $ 1,331,219 $ 948,401
Interest expense 804,615 903,228 557,617
Net interest income 363,257 427,991 390,784
Other revenue:      
Gain on sales, including fee-based services, net 74,932 72,522 55,816
Mortgage servicing rights 51,272 69,912 69,346
Servicing revenue, net 125,896 130,449 92,192
Property operating income 7,226 5,708 1,877
(Loss) gain on derivative instruments, net (8,543) 6,763 26,609
Other income (loss), net 8,083 7,667 (17,563)
Total other revenue 258,866 293,021 228,277
Other expenses:      
Employee compensation and benefits 181,694 159,788 161,825
Selling and administrative 54,931 51,260 53,990
Property operating expenses 7,394 5,897 2,136
Depreciation and amortization 9,555 9,743 8,732
Provision for loss sharing (net of recoveries) 11,782 15,695 1,862
Provision for credit losses (net of recoveries) 68,543 73,446 21,169
Litigation settlement 0 0 7,350
Total other expenses 333,899 315,829 257,064
Income before extinguishment of debt, gain on real estate, income from equity affiliates and income taxes 288,224 405,183 361,997
Loss on extinguishment of debt (412) (1,561) (4,933)
Gain on real estate 3,813 0 0
Income from equity affiliates 5,772 24,281 14,247
Provision for income taxes (13,478) (27,347) (17,484)
Net income 283,919 400,556 353,827
Preferred stock dividends 41,369 41,369 40,954
Net income attributable to noncontrolling interest 19,278 29,122 28,044
Net income attributable to common stockholders $ 223,272 $ 330,065 $ 284,829
Earnings per common share      
Basic earnings per common share (in dollars per share) $ 1.18 $ 1.79 $ 1.72
Diluted earnings per common share (in dollars per share) $ 1.18 $ 1.75 $ 1.67
Weighted average shares outstanding:      
Basic (in shares) 188,701,149 184,641,642 165,355,167
Diluted (in shares) 205,526,610 218,843,613 199,112,630