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Consolidated Statement of Cash Flows (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Cash flows provided by operating activities:      
Net income $ 52,485 $ 40,181 $ 25,882
Adjustments to reconcile net income to net cash provided by operating activities:      
Premium amortization and (discount accretion), net (5,721) (399) 7,782
Amortization of deferred financing costs 866 1,962 1,454
Equity-based compensation 3,457 2,845 1,788
Unrealized gain (loss) on securities 3,065 (6,489) (481)
Unrealized gain (loss) on derivative instruments (155) (323) 865
Realized loss on sale of security 0 (262) 0
Changes in operating assets and liabilities:      
Accrued interest receivable, less purchased interest (9,488) 2,296 (2,802)
Other assets (397) (186) 14
Accounts payable and accrued expenses 1,280 (260) 339
Payable to related party 591 739 615
Net cash provided by operating activities 45,983 40,104 35,456
Cash flows used in investing activities:      
Proceeds from sale of securities available-for-sale 0 121,338 0
Proceeds from sale of securities at estimated fair value 0 16,918 0
Fees received from commercial mortgage loans 280 0 0
Funding of securities at estimated fair value (134,389) (70,676) 0
Funding of commercial mortgage loans (32,643) (62,490) (8,800)
Funding of subordinate loans (361,035) (96,023) (89,856)
Funding of repurchase agreements 0 0 (47,439)
Principal payments received on securities available-for-sale 186,138 113,216 52,555
Principal payments received on securities at estimated fair value 32,344 98,401 23,138
Principal payments received on commercial mortgage loans 18,117 31,300 9,489
Principal payments received on subordinate loans 118,771 108 35
Principal payments received on repurchase agreements 6,598 40,841 0
Net cash provided by (used in) investing activities (165,819) 192,933 (60,878)
Cash flows from financing activities:      
Proceeds from issuance of common stock 148,804 124,472 49,980
Proceeds from issuance of preferred stock 0 86,250 0
Payment of offering costs (824) (3,324) (2,257)
Payment of deferred underwriting fee 0 0 (10,000)
Repayments of TALF borrowings 0 (251,327) (46,007)
Proceeds from repurchase agreement borrowings 182,218 313,860 69,014
Repayments of repurchase agreement borrowings (205,343) (379,401) (21,042)
Increase in restricted cash related to financing activities (30,127) 0 0
Deferred financing costs (504) (1,097) (1,180)
Dividends on common stock (55,471) (33,890) (29,412)
Dividends on preferred stock (7,440) (1,529) 0
Net cash provided by (used in) financing activities 31,313 (145,986) 9,096
Net increase (decrease) in cash and cash equivalents (88,523) 87,051 (16,326)
Cash and cash equivalents, beginning of period 108,619 21,568 37,894
Cash and cash equivalents, end of period 20,096 108,619 21,568
Supplemental disclosure of cash flow information:      
Interest paid 2,809 6,926 14,772
Supplemental disclosure of non-cash financing activities:      
Offering costs payable 109 306 26
Dividend declared, not yet paid 17,227 12,891 8,703
Deferred financing costs, not yet paid $ 312 $ 0 $ 500