Summary of Quarterly Results of Operations (Unaudited)

12 Months Ended

Dec. 31, 2018



	2018 Quarter Ended
(In Thousands, Except per Share Amounts)	March 31			June 30			September 30			December 31
Interest income	$	103,752		$	101,747		$	117,432		$	132,744
Interest expense	(50,554		)	(51,810		)	(58,878		)	(70,944		)
Net interest income	53,198			49,937			58,554			61,800
Net gain on residential whole loans measured at fair value through earnings	38,498			32,443			34,942			31,736
Net realized gain on sales of residential mortgage securities	8,817			7,429			16,415			28,646
Other income	345			1,134			(2,998		)	(39,432		)
Operating and other expense	(17,463		)	(20,548		)	(19,781		)	(21,871		)
Net income	83,395			70,395			87,132			60,879
Preferred stock dividends	(3,750		)	(3,750		)	(3,750		)	(3,750		)
Net income available to common stock and participating securities	$	79,645		$	66,645		$	83,382		$	57,129
Earnings per Common Share - Basic and Diluted	$	0.20		$	0.17		$	0.19		$	0.13



	2017 Quarter Ended
(In Thousands, Except per Share Amounts)	March 31			June 30			September 30			December 31
Interest income	$	117,257		$	110,157		$	105,133		$	100,901
Interest expense	(50,349		)	(49,022		)	(49,275		)	(48,495		)
Net interest income	66,908			61,135			55,858			52,406
Net gain on residential whole loans measured at fair value through earnings	13,773			16,208			18,679			41,385
Net realized gain on sales of residential mortgage securities	9,708			5,889			14,933			9,047
Other income	4,098			14,229			(4,515		)	14,553
Operating and other expense	(16,427		)	(17,526		)	(21,150		)	(16,798		)
Net income	78,060			79,935			63,805			100,593
Preferred stock dividends	(3,750		)	(3,750		)	(3,750		)	(3,750		)
Net income available to common stock and participating securities	$	74,310		$	76,185		$	60,055		$	96,843
Earnings per Common Share - Basic and Diluted	$	0.20		$	0.20		$	0.15		$	0.24