Summary of Quarterly Results of Operations (Unaudited)

12 Months Ended

Dec. 31, 2019



	2019 Quarter Ended
(In Thousands, Except per Share Amounts)	March 31			June 30			September 30			December 31
Interest income	$	140,952		$	144,935		$	142,721		$	153,118
Interest expense	(79,026		)	(85,044		)	(85,823		)	(82,463		)
Net interest income	61,926			59,891			56,898			70,655
Net gain on residential whole loans measured at fair value through earnings	25,267			51,473			40,175			41,415
Net realized gain on sales of residential mortgage securities	24,609			7,710			17,708			11,975
Other income	1,293			(2,321		)	4,546			2,007
Operating and other expense	(24,238		)	(23,713		)	(23,728		)	(25,431		)
Net income	88,857			93,040			95,599			100,621
Preferred stock dividends	(3,750		)	(3,750		)	(3,750		)	(3,750		)
Net income available to common stock and participating securities	$	85,107		$	89,290		$	91,849		$	96,871
Earnings per Common Share - Basic and Diluted	$	0.19		$	0.20		$	0.20		$	0.21



	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