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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
CONSOLIDATED STATEMENTS OF INCOME        
Interest income $ 186,026 $ 105,136 $ 464,102 $ 281,554
Interest expense (115,495) (50,136) (257,339) (156,312)
Net interest income before recovery of (provision for) loan losses 70,531 55,000 206,763 125,242
Recovery of (provision for) loan losses (3,431) (1,579) (583) (7,088)
Net interest income after recovery of (provision for) loan losses 67,100 53,421 206,180 118,154
Non-interest income        
Residential mortgage banking activities 12,053 37,270 23,424 115,369
Net realized gains on financial instruments and real estate owned 21,117 23,210 50,238 49,239
Net unrealized gain (loss) on financial instruments 16,460 5,688 58,522 31,296
Servicing income, net of amortization and impairment of $4,123 and $13,128 for the three and nine months ended September 30, 2022, and $2,798 and $7,344 for three and nine months ended September 30, 2021, respectively 12,189 10,243 37,282 37,806
Income on purchased future receivables, net of allowance for (recovery of) doubtful accounts of $(941) and $(1,381) for the three and nine months ended September 30, 2022, and $(279) and $1,260 for three and nine months ended September 30, 2021, respectively 1,162 2,838 5,490 7,934
Income (loss) on unconsolidated joint ventures (603) 3,548 11,160 6,100
Other income (loss) 16,150 5,674 30,985 5,557
Total non-interest income 78,528 88,471 217,101 253,301
Non-interest expense        
Employee compensation and benefits (25,941) (24,537) (79,998) (71,584)
Allocated employee compensation and benefits from related party (1,745) (3,804) (6,549) (9,226)
Variable income (expenses) on residential mortgage banking activities (9,061) (24,380) (5,508) (61,286)
Professional fees (3,865) (6,900) (12,842) (12,754)
Management fees - related party (5,410) (2,742) (14,071) (8,061)
Incentive fees - related party (949) (2,775) (949) (3,061)
Loan servicing expense (10,697) (8,124) (29,913) (21,079)
Transaction related expenses (1,535) (2,629) (8,606) (10,202)
Other operating expenses (15,396) (12,926) (42,421) (45,600)
Total non-interest expense (74,599) (88,817) (200,857) (242,853)
Income before provision for income taxes 71,029 53,075 222,424 128,602
Income tax provision (4,776) (6,540) (32,943) (22,216)
Net income 66,253 46,535 189,481 106,386
Less: Dividends on preferred stock 1,999 1,999 5,997 5,504
Less: Net income attributable to non-controlling interest 3,023 756 6,672 1,859
Net income attributable to Ready Capital Corporation $ 61,231 $ 43,780 $ 176,812 $ 99,023
Earnings (loss) per basic common share        
Earnings per common share - basic $ 0.53 $ 0.61 $ 1.66 $ 1.47
Earnings (loss) per diluted common share        
Earnings per common share - diluted $ 0.50 $ 0.60 $ 1.56 $ 1.46
Weighted-average shares outstanding        
Basic 114,371,160 71,618,168 105,576,826 66,606,749
Diluted 125,666,609 71,787,228 116,865,770 66,768,918
Dividends declared per share of common stock $ 0.42 $ 0.42 $ 1.26 $ 1.24