XML 92 R26.htm IDEA: XBRL DOCUMENT v2.4.1.9
Summary of Quarterly Results of Operations (Unaudited)
 12 Months Ended
Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]  
Summary of Quarterly Results of Operations (Unaudited)
Summary of Quarterly Results of Operations (Unaudited)
 
 
 
2014 Quarter Ended
(In Thousands, Except per Share Amounts)
 
March 31
 
June 30
 
September 30
 
December 31
Interest income
 
$
121,174

 
$
119,294

 
$
112,157

 
$
111,192

Interest expense
 
(40,921
)
 
(40,569
)
 
(39,358
)
 
(38,960
)
Net interest income
 
80,253

 
78,725

 
72,799

 
72,232

Gain on sales of MBS and U.S. Treasury securities, net
 
3,571

 
7,852

 
13,880

 
12,194

Unrealized net gains and net interest income from Linked Transactions
 
3,251

 
3,776

 
2,559

 
7,506

Other (loss)/income
 
(416
)
 
56

 
54

 
502

Operating and other expense
 
(10,471
)
 
(11,683
)
 
(10,410
)
 
(12,726
)
Net income
 
76,188

 
78,726

 
78,882

 
79,708

Preferred stock dividends
 
(3,750
)
 
(3,750
)
 
(3,750
)
 
(3,750
)
Net income available to common stock and participating securities
 
$
72,438

 
$
74,976

 
$
75,132

 
$
75,958

Earnings per Common Share - Basic and Diluted
 
$
0.20

 
$
0.20

 
$
0.20

 
$
0.20

 
 
 
2013 Quarter Ended
(In Thousands, Except per Share Amounts)
 
March 31
 
June 30
 
September 30
 
December 31
Interest income
 
$
122,738

 
$
120,671

 
$
118,482

 
$
121,049

Interest expense
 
(40,158
)
 
(38,478
)
 
(41,950
)
 
(43,427
)
Net interest income
 
82,580

 
82,193

 
76,532

 
77,622

Gain on sales of MBS and U.S. Treasury securities, net
 
1,633

 
4,365

 
13,680

 
6,147

(Losses)/gains on TBA short positions
 
—

 
—

 
(8,724
)
 
1,207

Unrealized net gains/(losses) and net interest income from Linked Transactions
 
1,536

 
(295
)
 
544

 
1,440

Other income
 
55

 
55

 
55

 
54

Operating and other expense
 
(8,453
)
 
(10,845
)
 
(10,759
)
 
(7,913
)
Net income
 
77,351

 
75,473

 
71,328

 
78,557

Preferred stock dividends
 
(2,040
)
 
(4,210
)
 
(3,750
)
 
(3,750
)
Issuance costs of redeemed preferred stock
 
—

 
(3,947
)
 
—

 
—

Net income available to common stock and participating securities
 
$
75,311

 
$
67,316

 
$
67,578

 
$
74,807

Earnings per Common Share - Basic and Diluted
 
$
0.21

 
$
0.19

 
$
0.19

 
$
0.20