XML 19 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Interest Income      
Residential loans $ 239,818 $ 154,362 $ 137,804
Commercial loans 0 345 30,496
Business purpose residential loans 4,333 0 0
Multifamily loans 21,322 0 0
Real estate securities 105,078 90,803 76,873
Other interest income 8,166 2,547 1,182
Total interest income 378,717 248,057 246,355
Interest Expense      
Short-term debt (58,917) (36,851) (22,287)
Asset-backed securities issued (99,429) (19,108) (14,735)
Long-term debt (80,693) (52,857) (51,506)
Total interest expense (239,039) (108,816) (88,528)
Net Interest Income 139,678 139,241 157,827
Reversal of provision for loan losses 0 0 7,102
Net Interest Income after Provision 139,678 139,241 164,929
Non-interest Income      
Mortgage banking activities, net 59,566 53,908 38,691
Investment fair value changes, net (25,689) 10,374 (28,574)
Other income, net 12,874 12,436 20,691
Realized gains, net 27,041 13,355 28,009
Total non-interest income, net 73,792 90,073 58,817
Operating expenses (82,782) (77,156) (88,786)
Net Income before Provision for Income Taxes 130,688 152,158 134,960
Provision for income taxes (11,088) (11,752) (3,708)
Net Income $ 119,600 $ 140,406 $ 131,252
Basic earnings per common share (in dollars per share) $ 1.47 $ 1.78 $ 1.66
Diluted earnings per common share (in dollars per share) 1.34 1.60 1.54
Regular dividends declared per common share (in dollars per share) $ 1.18 $ 1.12 $ 1.12
Basic weighted average shares outstanding (in shares) 78,724,912 76,792,957 76,747,047
Diluted weighted average shares outstanding (in shares) 110,027,770 101,975,008 97,909,090