XML 69 R54.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Net Interest Income (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Banking and Thrift, Interest [Abstract] |
Components of Interest Income and Interest Expense | The following table presents interest expense from the Convertible Notes for the years ended December 31, 2022 and 2021, respectively (dollar amounts in thousands):
|  |  |  | For the Years Ended December 31,
|  |  |  |  |  | 2022 |  | 2021
Contractual interest expense |  |  |  |  |  | $ | 335 |  |  | $ | 8,625 |
Amortization of underwriter's discount and deferred charges |  |  |  |  |  | 103 |  |  | 2,571 |
Total |  |  |  |  |  | $ | 438 |  |  | $ | 11,196 |
The following table details the components of the Company's interest income and interest expense for the years ended December 31, 2023, 2022 and 2021, respectively (dollar amounts in thousands):
| For the Years Ended December 31,
| 2023 |  | 2022 |  | 2021
Interest income |  |  |  |  |
Residential loans |  |  |  |  |
Residential loans | $ | 54,188 |  |  | $ | 113,134 |  |  | $ | 83,852 |
Consolidated SLST | 34,061 |  |  | 36,448 |  |  | 40,944 |
Residential loans held in securitization trusts | 97,492 |  |  | 80,116 |  |  | 38,941 |
Total residential loans | 185,741 |  |  | 229,698 |  |  | 163,737 |
Investment securities available for sale | 57,514 |  |  | 15,825 |  |  | 27,750 |
Multi-family loans | 10,519 |  |  | 11,185 |  |  | 15,321 |
Other | 4,886 |  |  | 1,680 |  |  | 58 |
Total interest income | 258,660 |  |  | 258,388 |  |  | 206,866 |
Interest expense |  |  |  |  |
Repurchase agreements | 91,814 |  |  | 51,432 |  |  | 13,844 |
Collateralized debt obligations |  |  |  |  |
Consolidated SLST | 24,506 |  |  | 25,145 |  |  | 28,135 |
Residential loan securitizations | 65,184 |  |  | 43,384 |  |  | 19,660 |
Non-Agency RMBS re-securitization | — |  |  | — |  |  | 283 |
Total collateralized debt obligations | 89,690 |  |  | 68,529 |  |  | 48,078 |
Senior unsecured notes | 6,476 |  |  | 6,430 |  |  | 4,335 |
Subordinated debentures | 4,154 |  |  | 2,590 |  |  | 1,831 |
Convertible notes | — |  |  | 438 |  |  | 11,196 |
Total interest expense | 192,134 |  |  | 129,419 |  |  | 79,284 |
Net interest income | $ | 66,526 |  |  | $ | 128,969 |  |  | $ | 127,582 |

X
- References No definition available. + Details
Name: | us-gaap_BankingAndThriftInterestAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_InterestIncomeAndInterestExpenseDisclosureTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration