XML 60 R50.htm IDEA: XBRL DOCUMENT

Interest income and interest expense (Tables)

6 Months Ended

Jun. 30, 2022

Interest income and interest expense

Schedule of components of interest income and expense


		Three Months Ended June 30,						Six Months Ended June 30,
(in thousands)		2022			2021			2022			2021
Interest income
Loans
Bridge		$	82,499		$	32,221		$	147,479		$	57,289
Fixed rate			14,468			14,258			28,939			28,688
Construction			7,243			—			9,000			—
SBA - 7(a)			9,742			9,777			19,121			18,318
PPP			19,282			26,355			36,140			33,247
Residential			31			62			50			122
Other			10,055			11,462			20,291			23,980
Total loans ⁽¹⁾		$	143,320		$	94,135		$	261,020		$	161,644
Held for sale, at fair value, loans
Fixed rate		$	2,236		$	—		$	4,293		$	—
Freddie Mac			307			728			499			1,332
Residential			2,198			3,160			4,298			5,286
Other			24			—			46			—
Total loans, held for sale, at fair value⁽¹⁾		$	4,765		$	3,888		$	9,136		$	6,618
Investments held to maturity		$	3,612		$	—		$	4,219		$	—
MBS, at fair value		$	1,974		$	5,024		$	3,701		$	8,156
Total interest income		$	153,671		$	103,047		$	278,076		$	176,418
Interest expense
Secured borrowings		$	(28,147)		$	(18,065)		$	(47,770)		$	(35,639)
Paycheck Protection Program Liquidity Facility borrowings			(459)			(1,545)			(1,147)			(1,879)
Securitized debt obligations of consolidated VIEs			(33,804)			(21,421)			(58,055)			(40,514)
Guaranteed loan financing			(3,186)			(3,472)			(6,271)			(7,123)
Senior secured note			(4,380)			(3,456)			(8,737)			(6,915)
Convertible note			(2,188)			(2,188)			(4,376)			(4,376)
Corporate debt			(8,663)			(5,268)			(15,488)			(9,730)
Total interest expense		$	(80,827)		$	(55,415)		$	(141,844)		$	(106,176)
Net interest income before provision for loan losses		$	72,844		$	47,632		$	136,232		$	70,242
(1) Includes interest income on loans in consolidated VIEs.