Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2019

Stockholders' Equity Note [Abstract]

Schedule of preferred stock dividend declaration and payment

The following table presents cash dividends declared by the Company on its Series B Preferred Stock from January 1, 2019 through September 30, 2019:

Declaration Date	Record Date	Payment Date	Dividend Per Share
August 9, 2019	August 30, 2019	September 30, 2019	$	0.46875
May 20, 2019	June 3, 2019	June 28, 2019	0.46875
February 15, 2019	March 4, 2019	March 29, 2019	0.46875

Schedule of cash dividends declared on common stock

The following table presents cash dividends declared by the Company on its common stock from January 1, 2019 through September 30, 2019:

Declaration Date (1)	Record Date	Payment Date	Dividend Per Share
September 12, 2019	September 30, 2019	October 31, 2019	$	0.20	(1)
June 12, 2019	July 1, 2019	July 31, 2019	0.20
March 6, 2019	March 29, 2019	April 30, 2019	0.20

(1)  At September 30, 2019, the Company had accrued dividends and dividend equivalents payable of $90.6 million related to the common stock dividend declared on September 12, 2019.

Schedule of sale of stock

The table below presents information with respect to shares of the Company’s common stock issued through public offerings during the year ended December 31, 2018:

Share Issue Date	Shares Issued		Gross Proceeds Per Share	Gross Proceeds
(In Thousands, Except Per Share Amounts)
August 7, 2018	50,875	(1)	$7.78	$395,807	(1)

(1) Includes approximately 875,000 shares issued on September 5, 2018 pursuant to the exercise of the underwriters’ option to purchase additional shares. The Company incurred approximately $6.4 million of underwriting discounts and related expenses in connection with this equity offering.

Schedule of changes in balances of each component of the entity's AOCI

The following table presents changes in the balances of each component of the Company’s AOCI for the three and nine months ended September 30, 2019:

	Three Months Ended September 30, 2019									Nine Months Ended September 30, 2019
(In Thousands)	Net Unrealized Gain/(Loss) on AFS Securities			Net  (Loss) on Swaps			Total AOCI			Net Unrealized Gain/(Loss) on AFS Securities			Net  Gain/(Loss) on Swaps			Total AOCI
Balance at beginning of period	$	439,898		$	(28,114	)	$	411,784		$	417,167		$	3,121		$	420,288
OCI before reclassifications	5,483			(233		)	5,250			50,085			(30,384		)	19,701
Amounts reclassified from AOCI (1)	(14,499		)	(685		)	(15,184		)	(36,370		)	(1,769		)	(38,139		)
Net OCI during the period (2)	(9,016		)	(918		)	(9,934		)	13,715			(32,153		)	(18,438		)
Balance at end of period	$	430,882		$	(29,032	)	$	401,850		$	430,882		$	(29,032	)	$	401,850

(1)  See separate table below for details about these reclassifications.

(2)  For further information regarding changes in OCI, see the Company’s consolidated statements of comprehensive income/(loss).

The following table presents changes in the balances of each component of the Company’s AOCI for the three and nine months ended September 30, 2018:

	Three Months Ended September 30, 2018								Nine Months Ended September 30, 2018
(In Thousands)	Net Unrealized Gain/(Loss) on AFS Securities			Net  Gain on Swaps		Total AOCI			Net Unrealized Gain/(Loss) on AFS Securities			Net  (Loss)/Gain on Swaps			Total AOCI
Balance at beginning of period	$	548,551		$	16,160	$	564,711		$	620,648		$	(11,424	)	$	609,224
OCI before reclassifications	(34,278		)	5,390		(28,888		)	(90,250		)	32,974			(57,276		)
Amounts reclassified from AOCI (1)	(9,455		)	—		(9,455		)	(25,580		)	—			(25,580		)
Net OCI during the period (2)	(43,733		)	5,390		(38,343		)	(115,830		)	32,974			(82,856		)
Balance at end of period	$	504,818		$	21,550	$	526,368		$	504,818		$	21,550		$	526,368

(1)  See separate table below for details about these reclassifications.

(2)  For further information regarding changes in OCI, see the Company’s consolidated statements of comprehensive income/(loss).

Information about the significant amounts reclassified out of the entity's AOCI

The following table presents information about the significant amounts reclassified out of the Company’s AOCI for the three and nine months ended September 30, 2019:

	Three Months Ended September 30, 2019			Nine Months Ended September 30, 2019
Details about AOCI Components	Amounts Reclassified from AOCI						Affected Line Item in the Statement Where Net Income is Presented
(In Thousands)
AFS Securities:
Realized gain on sale of securities	$	(14,499	)	$	(36,370	)	Net realized gain on sales of residential mortgage securities
Total AFS Securities	$	(14,499	)	$	(36,370	)
Swaps designated as cash flow hedges:
Amortization of de-designated hedging instruments	(685		)	(1,769		)	Other, net
Total Swaps designated as cash flow hedges	$	(685	)	$	(1,769	)
Total reclassifications for period	$	(15,184	)	$	(38,139	)

The following table presents information about the significant amounts reclassified out of the Company’s AOCI for the three and nine months ended September 30, 2018:

	Three Months Ended September 30, 2018			Nine Months Ended September 30, 2018
Details about AOCI Components	Amounts Reclassified from AOCI						Affected Line Item in the Statement Where Net Income is Presented
(In Thousands)
AFS Securities:
Realized gain on sale of securities	$	(9,455	)	$	(25,580	)	Net realized gain on sales of residential mortgage securities
Total AFS Securities	$	(9,455	)	$	(25,580	)
Total reclassifications for period	$	(9,455	)	$	(25,580	)