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v3.19.3

Segment Information - Financial Information by Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018
Segment Reporting Information [Line Items] |  |  |  |
Interest income | $ 150,117 | $ 99,397 | $ 429,700 | $ 258,992
Interest expense | (116,604) | (64,351) | (332,100) | (154,078)
Net Interest Income | 33,513 | 35,046 | 97,600 | 104,914
Non-interest Income |  |  |  |
Mortgage banking activities, net | 9,515 | 11,224 | 40,984 | 48,396
Investment fair value changes, net | 11,444 | 10,332 | 34,741 | 12,830
Other income (expense), net | 1,825 | 3,453 | 7,819 | 8,893
Realized gains, net | 4,714 | 7,275 | 18,227 | 21,352
Total non-interest income, net | 27,498 | 32,284 | 101,771 | 91,471
Direct operating expenses | (26,815) | (21,490) | (76,229) | (63,529)
(Provision for) benefit from income taxes | 114 | (4,919) | (3,102) | (12,343)
Net Income | 34,310 | 40,921 | 120,040 | 120,513
Non-cash amortization income (expense), net | (720) | 2,789 | (892) | 10,170
Operating Segments | Investment Portfolio |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Interest income | 132,894 | 79,556 | 380,394 | 202,882
Interest expense | (94,519) | (40,852) | (266,318) | (87,719)
Net Interest Income | 38,375 | 38,704 | 114,076 | 115,163
Non-interest Income |  |  |  |
Mortgage banking activities, net | 0 | 0 | 0 | 0
Investment fair value changes, net | 11,896 | 10,566 | 35,749 | 13,756
Other income (expense), net | 2,313 | 3,334 | 6,408 | 8,774
Realized gains, net | 4,714 | 7,275 | 18,227 | 21,352
Total non-interest income, net | 18,923 | 21,175 | 60,384 | 43,882
Direct operating expenses | (2,191) | (2,659) | (7,110) | (6,524)
(Provision for) benefit from income taxes | (89) | (2,840) | (1,327) | (4,858)
Net Income | 55,018 | 54,380 | 166,023 | 147,663
Non-cash amortization income (expense), net | 2,456 | 4,019 | 7,446 | 13,290
Operating Segments | Mortgage Banking |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Interest income | 12,491 | 14,427 | 34,220 | 40,408
Interest expense | (6,657) | (7,537) | (18,816) | (21,303)
Net Interest Income | 5,834 | 6,890 | 15,404 | 19,105
Non-interest Income |  |  |  |
Mortgage banking activities, net | 9,515 | 11,224 | 40,984 | 48,396
Investment fair value changes, net | 0 | 0 | 0 | 0
Other income (expense), net | (252) | 0 | (575) | 0
Realized gains, net | 0 | 0 | 0 | 0
Total non-interest income, net | 9,263 | 11,224 | 40,409 | 48,396
Direct operating expenses | (11,907) | (6,570) | (31,582) | (20,941)
(Provision for) benefit from income taxes | 203 | (2,079) | (1,775) | (7,485)
Net Income | 3,393 | 9,465 | 22,456 | 39,075
Non-cash amortization income (expense), net | (2,028) | (54) | (4,765) | (99)
Corporate/ Other |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Interest income | 4,732 | 5,414 | 15,086 | 15,702
Interest expense | (15,428) | (15,962) | (46,966) | (45,056)
Net Interest Income | (10,696) | (10,548) | (31,880) | (29,354)
Non-interest Income |  |  |  |
Mortgage banking activities, net | 0 | 0 | 0 | 0
Investment fair value changes, net | (452) | (234) | (1,008) | (926)
Other income (expense), net | (236) | 119 | 1,986 | 119
Realized gains, net | 0 | 0 | 0 | 0
Total non-interest income, net | (688) | (115) | 978 | (807)
Direct operating expenses | (12,717) | (12,261) | (37,537) | (36,064)
(Provision for) benefit from income taxes | 0 | 0 | 0 | 0
Net Income | (24,101) | (22,924) | (68,439) | (66,225)
Non-cash amortization income (expense), net | $ (1,148) | $ (1,176) | $ (3,573) | $ (3,021)

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