XML 56 R24.htm IDEA: XBRL DOCUMENT
v2.4.0.6

Summarized Quarterly Results | 12 Months Ended
--- | ---
Dec. 31, 2012
Summarized Quarterly Results | Note 16 – Summarized Quarterly Results (Unaudited)
|  | March 31, |  |  | June 30, |  |  | September 30, |  |  | December 31, |
|  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |
Net interest income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income from securities |  | $ | 5,323 |  |  | $ | 6,656 |  |  | $ | 3,230 |  |  | $ | 6,448 |  |  | $ | 3,674 |  |  | $ | 6,316 |  |  | $ | 3,120 |  |  | $ | 5,904 |
Interest income from commercial mortgage loans |  |  | 2,234 |  |  |  | 2,313 |  |  |  | 2,791 |  |  |  | 2,297 |  |  |  | 2,825 |  |  |  | 2,276 |  |  |  | 2,930 |  |  |  | 2,267 |
Interest income from subordinate loans |  |  | 5,313 |  |  |  | 1,909 |  |  |  | 5,859 |  |  |  | 3,167 |  |  |  | 6,144 |  |  |  | 3,784 |  |  |  | 7,350 |  |  |  | 4,817 |
Interest income from repurchase agreements |  |  | 1,559 |  |  |  | 60 |  |  |  | 2,000 |  |  |  | 1,552 |  |  |  | 2,361 |  |  |  | 1,576 |  |  |  | 366 |  |  |  | 1,576 |
Interest expense |  |  | (3,242 | ) |  |  | (3,339 | ) |  |  | (1,929 | ) |  |  | (3,781 | ) |  |  | (1,768 | ) |  |  | (3,716 | ) |  |  | (1,463 | ) |  |  | (3,618 | )
Net interest income |  |  | 11,187 |  |  |  | 7,599 |  |  |  | 11,951 |  |  |  | 9,683 |  |  |  | 13,236 |  |  |  | 10,236 |  |  |  | 12,303 |  |  |  | 10,946 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
General and administrative expenses |  |  | (2,036 | ) |  |  | (1,380 | ) |  |  | (2,762 | ) |  |  | (1,412 | ) |  |  | (2,430 | ) |  |  | (1,297 | ) |  |  | (1,315 | ) |  |  | (1,563 | )
Management fees to related party |  |  | (1,289 | ) |  |  | (1,088 | ) |  |  | (1,292 | ) |  |  | (1,101 | ) |  |  | (1,518 | ) |  |  | (1,241 | ) |  |  | (2,040 | ) |  |  | (1,297 | )
Total operating expenses |  |  | (3,325 | ) |  |  | (2,468 | ) |  |  | (4,054 | ) |  |  | (2,513 | ) |  |  | (3,948 | ) |  |  | (2,538 | ) |  |  | (3,355 | ) |  |  | (2,860 | )
Interest income from cash balances |  |  | 1 |  |  |  | 5 |  |  |  | — |  |  |  | 3 |  |  |  | — |  |  |  | 2 |  |  |  | 6 |  |  |  | 1 |
Realized loss on sale of security |  |  | 262 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Unrealized gain (loss) on securities |  |  | 1,385 |  |  |  | 26 |  |  |  | 2,078 |  |  |  | 1,366 |  |  |  | 3,010 |  |  |  | (1,511 | ) |  |  | 16 |  |  |  | 600 |
Gain (loss) on derivative instruments |  |  | (417 | ) |  |  | 18 |  |  |  | (65 | ) |  |  | (2,019 | ) |  |  | (87 | ) |  |  | (677 | ) |  |  | (2 | ) |  |  | (18 | )
Net income (loss) |  |  | 9,093 |  |  |  | 5,180 |  |  |  | 9,910 |  |  |  | 6,520 |  |  |  | 12,211 |  |  |  | 5,512 |  |  |  | 8,968 |  |  |  | 8,669 |
Preferred dividends |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,219 | ) |  |  | — |  |  |  | (1,860 | ) |  |  | — |
Net income available to common stockholders |  | $ | 9,093 |  |  | $ | 5,180 |  |  | $ | 9,910 |  |  | $ | 6,520 |  |  |  | 10,992 |  |  | $ | 5,512 |  |  | $ | 7,108 |  |  | $ | 8,669 |
Basic and diluted net income per share of common stock |  | $ | 0.43 |  |  | $ | 0.29 |  |  | $ | 0.47 |  |  | $ | 0.37 |  |  | $ | 0.52 |  |  | $ | 0.28 |  |  | $ | 0.26 |  |  | $ | 0.41 |
Basic and diluted weighted average common shares outstanding |  |  | 20,966,426 |  |  |  | 17,670,787 |  |  |  | 20,991,450 |  |  |  | 17,684,991 |  |  |  | 20,992,312 |  |  |  | 19,966,594 |  |  |  | 27,297,600 |  |  |  | 20,989,828 |
Dividend declared per share of common stock |  | $ | 0.40 |  |  | $ | 0.40 |  |  | $ | 0.40 |  |  | $ | 0.40 |  |  | $ | 0.40 |  |  | $ | 0.40 |  |  | $ | 0.40 |  |  | $ | 0.40 |

X
- Definition The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=20225539&loc=d3e1280-108306 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e765-108305 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 28 -Paragraph 30 -Subparagraph a-j -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e725-108305 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 28 -Paragraph 23, 24 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a + Details
Name: | us-gaap_QuarterlyFinancialInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration