Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2019

Stockholders' Equity Note [Abstract]

Schedule of cash dividends declared on Series B preferred stock

The following table presents cash dividends declared by the Company on its Series B Preferred Stock from January 1, 2017 through December 31, 2019:

Year	Declaration Date	Record Date	Payment Date	Dividend Per Share
2019	November 15, 2019	December 2, 2019	December 31, 2019	$0.46875
	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
2018	November 26, 2018	December 7, 2018	December 28, 2018	$0.46875
	August 20, 2018	September 7, 2018	September 28, 2018	0.46875
	May 17, 2018	June 4, 2018	June 29, 2018	0.46875
	February 20, 2018	March 2, 2018	March 30, 2018	0.46875
2017	November 17, 2017	December 1, 2017	December 29, 2017	$0.46875
	August 10, 2017	September 1, 2017	September 29, 2017	0.46875
	May 16, 2017	June 2, 2017	June 30, 2017	0.46875
	February 17, 2017	March 6, 2017	March 31, 2017	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, 2017 through December 31, 2019:

 

Year	Declaration Date	Record Date	Payment Date	Dividend Per Share
2019	December 12, 2019	December 30, 2019	January 31, 2020	$0.20	(1)
	September 12, 2019	September 30, 2019	October 31, 2019	0.20
	June 12, 2019	July 1, 2019	July 31, 2019	0.20
	March 6, 2019	March 29, 2019	April 30, 2019	0.20
2018	December 12, 2018	December 28, 2018	January 31, 2019	$0.20
	September 13, 2018	October 1, 2018	October 31, 2018	0.20
	June 7, 2018	June 29, 2018	July 31, 2018	0.20
	March 7, 2018	March 29, 2018	April 30, 2018	0.20
2017	December 13, 2017	December 28, 2017	January 31, 2018	$0.20
	September 14, 2017	September 28, 2017	October 31, 2017	0.20
	June 12, 2017	June 29, 2017	July 28, 2017	0.20
	March 8, 2017	March 29, 2017	April 28, 2017	0.20

(1)  At December 31, 2019, the Company had accrued dividends and dividend equivalents payable of $90.7 million related to the common stock dividend declared on December 12, 2019.

Public Offering of Common 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 in 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 years ended December 31, 2019, 2018 and 2017:

	For the Year Ended December 31,
	2019									2018									2017
(In Thousands)	Net Unrealized Gain/(Loss) on AFS Securities			Net  Gain/(Loss) on Swaps			Total  AOCI			Net  Unrealized Gain/(Loss) on AFS Securities			Net  Gain/(Loss) on Swaps			Total  AOCI			Net  Unrealized Gain/(Loss) on AFS Securities			Net  Gain/(Loss) on Swaps			Total  AOCI
Balance at beginning of period	$	417,167		$	3,121		$	420,288		$	620,648		$	(11,424	)	$	609,224		$	620,403		$	(46,721	)	$	573,682
OCI before reclassifications	20,335			(23,342		)	(3,007		)	(150,642		)	14,545			(136,097		)	39,984			35,297			75,281
Amounts reclassified from   AOCI (1)	(44,780		)	(2,454		)	(47,234		)	(52,839		)	—			(52,839		)	(39,739		)	—			(39,739		)
Net OCI during period (2)	(24,445		)	(25,796		)	(50,241		)	(203,481		)	14,545			(188,936		)	245			35,297			35,542
Balance at end of period	$	392,722		$	(22,675	)	$	370,047		$	417,167		$	3,121		$	420,288		$	620,648		$	(11,424	)	$	609,224

(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 years ended December 31, 2019, 2018, and 2017:

	For the Year Ended December 31,
	2019			2018			2017
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	$	(44,600	)	$	(51,580	)	$	(38,707	)	Net realized gain on sales of residential mortgage securities
OTTI recognized in earnings	(180		)	(1,259		)	(1,032		)	Other, net
Total AFS Securities	$	(44,780	)	$	(52,839	)	$	(39,739	)
Swaps designated as cash flow hedges:
Amortization of de-designated hedging instruments	(2,454		)	—			—			Other, net
Total Swaps designated as cash flow hedges	$	(2,454	)	$	—		$	—
Total reclassifications for period	$	(47,234	)	$	(52,839	)	$	(39,739	)