SUMMARIZED QUARTERLY RESULTS (UNAUDITED)

12 Months Ended

Dec. 31, 2012

SUMMARIZED QUARTERLY RESULTS (UNAUDITED)

18.          SUMMARIZED QUARTERLY RESULTS (UNAUDITED)

The following is a presentation of summarized quarterly results of operations for the years ended December 31, 2012 and 2011.

	For the Quarters Ended
	March 31, 2012		June 30, 2012			September 30, 2012			December 31, 2012
	(dollars in thousands, expect per share amounts)
Total interest income	$	854,895	$	886,324		$	761,265		$	756,661
Less:  Total interest expense		133,345		166,443			181,893			185,491
Net interest income		721,550		719,881			579,372			571,170
Total other income (loss)		264,633		(734,828	)		(277,689	)		163,282
Less:  Total general and administrative expenses		67,915		64,556			63,004			40,084
Income before income taxes		918,268		(79,503	)		238,679			694,368
Less:  Income taxes		16,462		11,656			13,921			(6,127	)
Net income (loss)		901,806		(91,159	)		224,758			700,495
Less: Dividends on preferred stock		3,938		6,508			9,367			19,717
Net income (loss) available (related) to common shareholders	$	897,868	$	(97,667	)	$	215,391		$	680,778
Net income (loss) available (related) per share to common shareholders:
Basic	$	0.92	$	(0.10	)	$	0.22		$	0.70
Diluted	$	0.89	$	(0.10	)	$	0.22		$	0.68

	For the Quarters Ended
	March 31,		June 30,			September 30,			December 31,
	2011		2011			2011			2011
	(dollars in thousands, except per share amounts)
Total interest income	$	844,048	$	957,068		$	930,802		$	847,700
Less:  Total interest expense		115,456		113,320			121,417			130,133
Net interest income		728,592		843,748			809,385			717,567
Total other income (loss)		35,565		(652,940	)		(1,650,587	)		(191,614	)
Less:  Total general and administrative expenses		51,827		57,229			65,194			63,094
Income (loss) before income taxes and income from equity method   investment in affiliate		712,330		133,579			(906,396	)		462,859
Less:  Income taxes		13,575		12,762			15,417			17,297
Income from equity method investment in affiliate		1,140		-			-			-
Net income (loss)		699,895		120,817			(921,813	)		445,562
Less: Dividends on preferred stock		4,267		4,267			4,172			4,148
Net income (loss) available (related) to common shareholders	$	695,628	$	116,550		$	(925,985	)	$	441,414
Net income (loss) available (related) per share to common shareholders:
Basic	$	0.92	$	0.14		$	(0.98	)	$	0.46
Diluted	$	0.89	$	0.14		$	(0.98	)	$	0.44