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Net Interest Income (Tables) | 9 Months Ended
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Sep. 30, 2023
Banking and Thrift, Interest [Abstract] |
Schedule of Components of Interest Income and Interest Expense | The following table presents interest expense from the Convertible Notes for the nine months ended September 30, 2022 (dollar amounts in thousands):
|  | For the Nine Months Ended September 30, 2022 |  |
Contractual interest expense |  | $ | 335 |  |  |  |  |
Amortization of underwriter's discount and deferred charges |  | 103 |  |  |  |  |
Total |  | $ | 438 |  |  |  |  |
The following table details the components of the Company's interest income and interest expense for the three and nine months ended September 30, 2023 and 2022, respectively (dollar amounts in thousands):
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Interest income |  |  |  |  |  |  |
Residential loans |  |  |  |  |  |  |
Residential loans | $ | 11,574 |  |  | $ | 32,374 |  |  | $ | 40,817 |  |  | $ | 89,875 |
Consolidated SLST | 8,370 |  |  | 9,013 |  |  | 25,543 |  |  | 27,648 |
Residential loans held in securitization trusts | 24,183 |  |  | 20,437 |  |  | 74,041 |  |  | 55,923 |
Total residential loans | 44,127 |  |  | 61,824 |  |  | 140,401 |  |  | 173,446 |
Multi-family loans | 2,712 |  |  | 2,862 |  |  | 7,890 |  |  | 8,646 |
Investment securities available for sale | 17,203 |  |  | 3,916 |  |  | 27,862 |  |  | 12,922 |
Other | 1,153 |  |  | 318 |  |  | 3,718 |  |  | 427 |
Total interest income | 65,195 |  |  | 68,920 |  |  | 179,871 |  |  | 195,441 |
Interest expense |  |  |  |  |  |  |
Repurchase agreements | 24,169 |  |  | 18,448 |  |  | 54,084 |  |  | 35,625 |
Collateralized debt obligations |  |  |  |  |  |  |
Consolidated SLST | 5,957 |  |  | 6,611 |  |  | 18,238 |  |  | 18,796 |
Residential loan securitizations | 15,582 |  |  | 11,192 |  |  | 49,908 |  |  | 27,377 |
Total collateralized debt obligations | 21,539 |  |  | 17,803 |  |  | 68,146 |  |  | 46,173 |
Convertible notes | — |  |  | — |  |  | — |  |  | 438 |
Senior unsecured notes | 1,620 |  |  | 1,608 |  |  | 4,852 |  |  | 4,818 |
Subordinated debentures | 1,078 |  |  | 704 |  |  | 3,063 |  |  | 1,713 |
Total interest expense | 48,406 |  |  | 38,563 |  |  | 130,145 |  |  | 88,767 |
Net interest income | $ | 16,789 |  |  | $ | 30,357 |  |  | $ | 49,726 |  |  | $ | 106,674 |

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- Definition Tabular disclosure of interest income and expense, including, but not limited to, interest income and expense from investments, loans, and securities. + References No definition available. + Details
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