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CONSOLIDATED STATEMENT OF OPERATIONS - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017
INTEREST INCOME (EXPENSE) |  |  |  |  |  |
Interest income |  | $ 13,171 | $ 12,867 | $ 40,677 | $ 36,078 |
Interest expense |  | (8,519) | (5,719) | (23,434) | (12,917) |
Total net interest income |  | 4,652 | 7,148 | 17,243 | 23,161 |
EXPENSES |  |  |  |  |  |
Management fees to affiliate |  | 641 | 741 | 1,968 | 1,953 |
Professional fees |  | 198 | 157 | 651 | 510 |
Compensation expense |  | 136 | 222 | 511 | 597 |
Insurance Expense | [1] | 74 | 74 | 221 | 230 |
Other operating expenses | [1] | 283 | 287 | 924 | 900 |
Total expenses |  | 1,332 | 1,481 | 4,275 | 4,190 |
OTHER INCOME (LOSS) |  |  |  |  |  |
Net realized gains (losses) on securities |  | (8,402) | 349 | (13,590) | (3,001) | [2]
Net realized gains (losses) on financial derivatives |  | 4,058 | (2,981) | 16,311 | (10,455) | [2]
Change in net unrealized gains (losses) on securities |  | (2,636) | 3,994 | (32,915) | 5,783 | [2]
Change in net unrealized gains (losses) on financial derivatives |  | 4,606 | (689) | 16,005 | (1,302) | [2]
Total other income (loss) |  | (2,374) | 673 | (14,189) | (8,975) |
NET INCOME (LOSS) |  | $ 946 | $ 6,340 | $ (1,221) | $ 9,996 | [2]
NET INCOME (LOSS) PER COMMON SHARE: |  |  |  |  |  |
Basic and Diluted (in dollars per share) |  | $ 0.07 | $ 0.48 | $ (0.09) | $ 0.91 |
[1] | Conformed to current period presentation.
[2] | Conformed to current period presentation.

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