Equity (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Changes to Accumulated Other Comprehensive Income (Loss) by Component

The following table provides a summary of changes to accumulated other comprehensive income by component for the years ended December 31, 2023 and 2022.

Table 18.1 – Changes in Accumulated Other Comprehensive Income (Loss) by Component


	Years Ended December 31,
	2023				2022
(In Thousands)	Available-for-Sale Securities		Interest Rate Agreements Accounted for as Cash Flow Hedges		Available-for-Sale Securities		Interest Rate Agreements Accounted for as Cash Flow Hedges
Balance at beginning of period	$	3,435	$	(72,303)	$	67,503	$	(76,430)
Other comprehensive income (loss) before reclassifications	6,230		—		(64,704)		—
Amounts reclassified from other accumulated comprehensive income (loss)	554		4,127		636		4,127
Net current-period other comprehensive income (loss)	6,784		4,127		(64,068)		4,127
Balance at End of Period	$	10,219	$	(68,176)	$	3,435	$	(72,303)

Schedule of Reclassifications out of Accumulated Other Comprehensive Income (Loss)

The following table provides a summary of reclassifications out of accumulated other comprehensive income (loss) for the years ended December 31, 2023 and 2022.

Table 18.2 – Reclassifications Out of Accumulated Other Comprehensive Income (Loss)



		Amount Reclassified From Accumulated Other Comprehensive Income
	Affected Line Item in the	Year Ended December 31,
(In Thousands)	Income Statement	2023		2022
Net Realized (Gain) Loss on AFS Securities
Increase (decrease) in allowance for credit losses on AFS securities	Investment fair value changes, net	$	(58)	$	2,541
Gain on sales and calls of AFS securities	Realized gains, net	612		(1,905)
		$	554	$	636
Net Realized Loss on Interest Rate Agreements Designated as Cash Flow Hedges
Amortization of deferred loss	Interest expense	$	4,127	$	4,127
		$	4,127	$	4,127

Schedule of Basic and Diluted Earnings (Loss) Per Common Share

The following table provides the basic and diluted earnings per common share computations for the years ended December 31, 2023, 2022, and 2021.

Table 18.3 – Basic and Diluted Earnings per Common Share


	Years Ended December 31,
(In Thousands, except Share Data)	2023		2022		2021
Basic (Loss) Earnings per Common Share:
Net (loss) income (related) attributable to common stockholders	$	(8,958)	$	(163,520)	$	319,613
Less: Dividends and undistributed earnings allocated to participating securities	(3,999)		(4,335)		(10,635)
Net (loss) income allocated to common stockholders	$	(12,957)	$	(167,855)	$	308,978
Basic weighted average common shares outstanding	116,283,328		117,227,846		113,230,190
Basic (Loss) Earnings per Common Share	$	(0.11)	$	(1.43)	$	2.73
Diluted (Loss) Earnings per Common Share:
Net (loss) income (related) attributable to common stockholders	$	(8,958)	$	(163,520)	$	319,613
Less: Dividends and undistributed earnings allocated to participating securities	(3,999)		(4,335)		(9,880)
Add back: interest expense of convertible notes assumed converted for the period, net of tax	—		—		27,463
Net (loss) income allocated to common stockholders	$	(12,957)	$	(167,855)	$	337,196
Weighted average common shares outstanding	116,283,328		117,227,846		113,230,190
Net effect of dilutive equity awards	—		—		273,236
Net effect of assumed convertible notes conversion to common shares	—		—		28,566,875
Diluted weighted average common shares outstanding	116,283,328		117,227,846		142,070,301
Diluted (Loss) Earnings per Common Share	$	(0.11)	$	(1.43)	$	2.37