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Quarterly Financial Data (unaudited) | 12 Months Ended
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Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Financial Data (unaudited) | Quarterly Financial Data (unaudited) The following table is a comparative breakdown of our unaudited quarterly results for the immediately preceding eight quarters (amounts in thousands, except per share data):
| Three Months Ended
| Mar 31, 2019 |  | Jun 30, 2019 |  | Sep 30, 2019 |  | Dec 31, 2019
Interest income | $ | 147,982 |  |  | $ | 167,258 |  |  | $ | 179,602 |  |  | $ | 199,772 |
Interest expense | 121,779 |  |  | 141,567 |  |  | 147,631 |  |  | 155,773 |
Net interest income | 26,203 |  |  | 25,691 |  |  | 31,971 |  |  | 43,999 |
Non-interest income: |  |  |  |  |  |  |
Recovery of loan losses | 1,065 |  |  | 1,296 |  |  | 244 |  |  | 175 |
Realized gains (losses), net | 22,006 |  |  | 4,448 |  |  | 6,102 |  |  | 86 |
Unrealized gains (losses), net | 2,708 |  |  | 77 |  |  | 11,112 |  |  | 21,940 |
Loss on extinguishment of debt | (2,857 | ) |  | — |  |  | — |  |  | — |
Income from real estate held for sale in consolidated variable interest entities | 215 |  |  | — |  |  | — |  |  | — |
Other income | 7,728 |  |  | 2,740 |  |  | 3,938 |  |  | 11,425 |
Total non-interest income | 30,865 |  |  | 8,561 |  |  | 21,396 |  |  | 33,626 |
General, administrative and operating expenses | 12,644 |  |  | 12,394 |  |  | 12,288 |  |  | 12,509 |
Income from operations before income taxes | 44,424 |  |  | 21,858 |  |  | 41,079 |  |  | 65,116 |
Income tax expense (benefit) | 74 |  |  | (134 | ) |  | (187 | ) |  | (172 | )
Net income | 44,350 |  |  | 21,992 |  |  | 41,266 |  |  | 65,288 |
Net (income) loss attributable to non-controlling interest in consolidated variable interest entities | (211 | ) |  | 743 |  |  | 113 |  |  | 195 |
Net income attributable to Company | 44,139 |  |  | 22,735 |  |  | 41,379 |  |  | 65,483 |
Preferred stock dividends | (5,925 | ) |  | (6,257 | ) |  | (6,544 | ) |  | (10,175 | )
Net income attributable to Company’s common stockholders | $ | 38,214 |  |  | $ | 16,478 |  |  | $ | 34,835 |  |  | $ | 55,308 |
Basic earnings per common share | $ | 0.22 |  |  | $ | 0.08 |  |  | $ | 0.15 |  |  | $ | 0.20 |
Diluted earnings per common share | $ | 0.21 |  |  | $ | 0.08 |  |  | $ | 0.15 |  |  | $ | 0.20 |
Dividends declared per common share | $ | 0.20 |  |  | $ | 0.20 |  |  | $ | 0.20 |  |  | $ | 0.20 |
Weighted average shares outstanding-basic | 174,421 |  |  | 200,691 |  |  | 234,043 |  |  | 275,121 |
Weighted average shares outstanding-diluted | 194,970 |  |  | 202,398 |  |  | 255,537 |  |  | 296,347 |
| Three Months Ended
| Mar 31, 2018 |  | Jun 30, 2018 |  | Sep 30, 2018 |  | Dec 31, 2018
Interest income | $ | 108,891 |  |  | $ | 107,723 |  |  | $ | 110,249 |  |  | $ | 128,936 |
Interest expense | 89,139 |  |  | 90,223 |  |  | 90,646 |  |  | 107,063 |
Net interest income | 19,752 |  |  | 17,500 |  |  | 19,603 |  |  | 21,873 |
Non-interest income: |  |  |  |  |  |  |
(Provision for) recovery of loan losses | (42 | ) |  | 437 |  |  | 840 |  |  | (2,492 | )
Realized gains (losses), net | (4,156 | ) |  | (6,303 | ) |  | 3,232 |  |  | (548 | )
Unrealized gains (losses), net | 19,031 |  |  | 24,392 |  |  | 14,094 |  |  | (4,736 | )
Income from real estate held for sale in consolidated variable interest entities | 2,126 |  |  | 1,253 |  |  | 1,380 |  |  | 1,404 |
Other income | 3,994 |  |  | 228 |  |  | 4,757 |  |  | 7,589 |
Total non-interest income | 20,953 |  |  | 20,007 |  |  | 24,303 |  |  | 1,217 |
General, administrative and operating expenses | 8,698 |  |  | 8,769 |  |  | 9,912 |  |  | 14,091 |
Income from operations before income taxes | 32,007 |  |  | 28,738 |  |  | 33,994 |  |  | 8,999 |
Income tax benefit | (79 | ) |  | (13 | ) |  | (454 | ) |  | (511 | )
Net income | 32,086 |  |  | 28,751 |  |  | 34,448 |  |  | 9,510 |
Net (income) loss attributable to non-controlling interest in consolidated variable interest entities | (2,468 | ) |  | 943 |  |  | (475 | ) |  | 91 |
Net income attributable to Company | 29,618 |  |  | 29,694 |  |  | 33,973 |  |  | 9,601 |
Preferred stock dividends | (5,925 | ) |  | (5,925 | ) |  | (5,925 | ) |  | (5,925 | )
Net income attributable to Company’s common stockholders | $ | 23,693 |  |  | $ | 23,769 |  |  | $ | 28,048 |  |  | $ | 3,676 |
Basic earnings per common share | $ | 0.21 |  |  | $ | 0.21 |  |  | $ | 0.21 |  |  | $ | 0.02 |
Diluted earnings per common share | $ | 0.20 |  |  | $ | 0.20 |  |  | $ | 0.20 |  |  | $ | 0.02 |
Dividends declared per common share | $ | 0.20 |  |  | $ | 0.20 |  |  | $ | 0.20 |  |  | $ | 0.20 |
Weighted average shares outstanding-basic | 112,018 |  |  | 115,211 |  |  | 132,413 |  |  | 148,871 |
Weighted average shares outstanding-diluted | 131,761 |  |  | 135,164 |  |  | 152,727 |  |  | 149,590 |

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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