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Net Interest Income
9 Months Ended
Sep. 30, 2025
Banking and Thrift, Interest [Abstract]  
Net Interest Income
22. Net Interest Income

The following table details the components of the Company's interest income and interest expense for the three and nine months ended September 30, 2025 and 2024, respectively (dollar amounts in thousands):

For the Three Months Ended
September 30,
For the Nine Months Ended
September 30,
2025202420252024
Interest income
Investment securities available for sale$87,565 $44,431 $220,106 $112,785 
Residential loans
Residential loans9,036 16,237 27,694 39,723 
Consolidated SLST14,306 11,002 36,936 28,284 
Residential loans held in securitization trusts43,392 31,833 132,609 88,866 
Total residential loans66,734 59,072 197,239 156,873 
Residential loans held for sale
2,149 — 2,149 — 
Multi-family loans2,090 2,646 6,846 7,957 
Other2,095 2,212 4,928 5,412 
Total interest income160,633 108,361 431,268 283,027 
Interest expense
Repurchase agreements and warehouse facilities
71,550 52,326 180,063 133,059 
Collateralized debt obligations
Consolidated SLST11,199 7,375 26,592 19,928 
Residential loan securitizations31,478 23,435 94,657 62,462 
Non-Agency RMBS re-securitization
1,239 906 3,794 906 
Total collateralized debt obligations43,916 31,716 125,043 83,296 
Senior unsecured notes7,615 3,001 17,160 6,303 
Subordinated debentures966 1,081 2,871 3,225 
Total interest expense124,047 88,124 325,137 225,883 
Net interest income$36,586 $20,237 $106,131 $57,144