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Quarterly Financial Data (unaudited)
 12 Months Ended
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