SUMMARIZED QUARTERLY RESULTS (UNAUDITED)

12 Months Ended

Dec. 31, 2014

SUMMARIZED QUARTERLY RESULTS (UNAUDITED)

21.  SUMMARIZED QUARTERLY RESULTS (UNAUDITED)

The following is a presentation of summarized quarterly results of operations for the years ended December 31, 2014 and 2013.

	For the Quarters Ended
	December 31, 2014			September 30, 2014			June 30, 2014			March 31, 2014
	(dollars in thousands, expect per share data)
Interest income	$	648,144		$	644,640		$	683,962		$	655,901
Interest expense		134,512			127,069			126,107			124,971
Net interest income		513,632			517,571			557,855			530,930
Total other income (loss)		(1,113,659	)		(109,013	)		(842,030	)		(682,902	)
Less:  Total general and administrative expenses		58,454			51,317			52,189			47,378
Income before income taxes		(658,481	)		357,241			(336,364	)		(199,350	)
Less:  Income taxes		(209	)		2,385			(852	)		4,001
Net income (loss)		(658,272	)		354,856			(335,512	)		(203,351	)
Less: Net income attributable to noncontrolling interest		(196	)		-			-			-
Less: Dividends on preferred stock		17,992			17,992			17,992			17,992
Net income (loss) available (related) to common stockholders	$	(676,068	)	$	336,864		$	(353,504	)	$	(221,343	)
Net income (loss) available (related) per share to common stockholders:
Basic	$	(0.71	)	$	0.36		$	(0.37	)	$	(0.23	)
Diluted	$	(0.71	)	$	0.35		$	(0.37	)	$	(0.23	)
	For the Quarters Ended
	December 31, 2013			September 30, 2013			June 30, 2013			March 31, 2013
	(dollars in thousands, expect per share data)
Interest income	$	771,249		$	697,160		$	712,936		$	737,217
Interest expense		137,393			145,476			164,255			177,590
Net interest income		633,856			551,684			548,681			559,627
Total other income (loss)		452,944			(299,925	)		1,154,755			368,370
Less:  Total general and administrative expenses		56,294			58,744			65,131			51,912
Income before income taxes		1,030,506			193,015			1,638,305			876,085
Less:  Income taxes		1,757			557			92			5,807
Net income (loss)		1,028,749			192,458			1,638,213			870,278
Less: Dividends on preferred stock		17,992			17,992			17,992			17,992
Net income (loss) available (related) to common stockholders	$	1,010,757		$	174,466		$	1,620,221		$	852,286
Net income (loss) available (related) per share to common stockholders:
Basic	$	1.07		$	0.18		$	1.71		$	0.90
Diluted	$	1.03		$	0.18		$	1.64		$	0.87