Summary of Quarterly Results of Operations (Unaudited)

12 Months Ended

Dec. 31, 2015



	2015 Quarter Ended
(In Thousands, Except per Share Amounts)	March 31			June 30			September 30			December 31
Interest income	$	129,943		$	123,995		$	119,706		$	118,499
Interest expense	(43,940		)	(42,849		)	(43,703		)	(46,456		)
Net interest income	86,003			81,146			76,003			72,043
Net impairment losses recognized in earnings	(407		)	(298		)	—			—
Gain on sales of MBS	6,435			7,617			11,196			9,652
Net gain on residential whole loans held at fair value	2,034			3,224			5,565			6,899
Other income/(loss)	311			(678		)	(259		)	(831		)
Operating and other expense	(12,202		)	(12,940		)	(12,995		)	(14,292		)
Net income	82,174			78,071			79,510			73,471
Preferred stock dividends	(3,750		)	(3,750		)	(3,750		)	(3,750		)
Net income available to common stock and participating securities	$	78,424		$	74,321		$	75,760		$	69,721
Earnings per Common Share - Basic and Diluted	$	0.21		$	0.20		$	0.20		$	0.19



	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	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
Net gain on residential whole loans held at fair value	—			—			—			116
Other (loss)/income	(416		)	56			54			386
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