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Consolidated Statement of Cash Flows (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Cash flows provided by operating activities:      
Net income $ 40,181 $ 25,882 $ 10,999
Adjustments to reconcile net income to net cash provided by operating activities:      
Premium amortization and (discount accretion), net (399) 7,782 5,042
Amortization of deferred financing costs 1,962 1,454 1,172
Equity-based compensation 2,845 1,788 1,452
Unrealized gain (loss) on securities (6,489) (481) 1,766
Unrealized gain (loss) on derivative instruments (323) 865 (387)
Realized loss on sale of security (262)   33
Changes in operating assets and liabilities:      
Accrued interest receivable, less purchased interest 2,296 (2,802) (3,920)
Other assets (186) 14 (31)
Accounts payable and accrued expenses (260) 339 531
Payable to related party 739 615 (63)
Net cash provided by operating activities 40,104 35,456 16,594
Cash flows used in investing activities:      
Funding of securities available-for-sale     (229,499)
Proceeds from sale of securities available-for-sale 121,338   12,188
Proceeds from sale of securities at estimated fair value 16,918    
Funding of securities at estimated fair value (70,676)   (282,931)
Funding of commercial mortgage loans (62,490) (8,800) (109,622)
Funding of subordinate loans (96,023) (89,856) (8,938)
Funding of repurchase agreements   (47,439)  
Principal payments received on securities available-for-sale 113,216 52,555 10,801
Principal payments received on securities at estimated fair value 98,401 23,138  
Principal payments received on commercial mortgage loans 31,300 9,489 305
Principal payments received on subordinate loans 108 35 15
Principal payments received on repurchase agreements 40,841    
Repayment of contractual deposits     90
Net cash provided by (used in) investing activities 192,933 (60,878) (607,591)
Cash flows from financing activities:      
Proceeds from issuance of common stock 124,472 49,980 110,400
Proceeds from issuance of preferred stock 86,250    
Payment of offering costs (3,324) (2,257) (6,212)
Payment of deferred underwriting fee   (10,000)  
Proceeds from TALF borrowings     178,469
Repayments of TALF borrowings (251,327) (46,007) (9,241)
Proceeds from repurchase agreement borrowings 313,860 69,014 383,135
Repayments of repurchase agreement borrowings (379,401) (21,042) (140,407)
Deferred financing costs (1,097) (1,180) (2,736)
Dividends on common stock (33,890) (29,412) (14,486)
Dividends on preferred stock (1,529)    
Net cash provided by (used in) financing activities (145,986) 9,096 498,922
Net increase (decrease) in cash and cash equivalents 87,051 (16,326) (92,075)
Cash and cash equivalents, beginning of period 21,568 37,894 129,969
Cash and cash equivalents, end of period 108,619 21,568 37,894
Supplemental disclosure of cash flow information:      
Interest paid 6,926 14,772 9,525
Supplemental disclosure of non-cash financing activities:      
Deferred underwriting fee     10,000
Offering costs payable 306 26 494
Dividend declared, not yet paid 12,891 8,703 7,189
Deferred financing costs, not yet paid   $ 500 $ 1,000