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CONSOLIDATED BALANCE SHEET - USD ($)
$ in Thousands
Mar. 31, 2016
Dec. 31, 2015
ASSETS    
Cash and cash equivalents $ 41,242 $ 40,166
Mortgage-backed securities, at fair value 1,173,593 1,242,266
Due from brokers 30,206 33,297
Financial derivatives–assets, at fair value [1] 1,635 2,183
Reverse repurchase agreements [1] 69,575 78,632
Receivable for securities sold 64,243 155,526
Interest receivable 4,092 4,325
Other assets 523 289
Total Assets 1,385,109 1,556,684
LIABILITIES    
Repurchase agreements [1] 1,133,841 1,222,719
Payable for securities purchased 16,433 98,949
Due to brokers 127 439
Financial derivatives–liabilities, at fair value [1] 18,284 4,725
U.S. Treasury securities sold short, at fair value 69,607 78,447
Dividend payable 4,103 4,111
Accrued expenses 447 533
Management fee payable 528 545
Interest payable 1,382 1,361
Total Liabilities 1,244,752 1,411,829
SHAREHOLDERS' EQUITY    
Preferred shares, par value $0.01 per share, 100,000,000 shares authorized; (0 shares issued and outstanding, respectively) 0 0
Common shares, par value $0.01 per share, 500,000,000 shares authorized; (9,117,183 and 9,135,103 shares issued and outstanding, respectively) 92 92
Additional paid-in-capital 180,871 181,027
Accumulated deficit (40,606) (36,264)
Total Shareholders' Equity 140,357 144,855
Total Liabilities and Shareholders' Equity $ 1,385,109 $ 1,556,684
[1] In the Company's Consolidated Balance Sheet, all balances associated with the repurchase agreements and financial derivatives are presented on a gross basis.