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Quarterly Financial Data (unaudited) (Tables)
12 Months Ended
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Quarterly Financial Data
The following table is a comparative breakdown of our unaudited quarterly results for the immediately preceding eight quarters (amounts in thousands, except per share data):
 
Three Months Ended
 
Mar 31, 2016
 
Jun 30, 2016
 
Sep 30, 2016
 
Dec 31, 2016
Interest income
$
81,626

 
$
79,766

 
$
79,525

 
$
78,389

Interest expense
63,984

 
63,102

 
64,007

 
63,575

Net interest income
$
17,642

 
$
16,664

 
$
15,518

 
$
14,814

 
 
 
 
 
 
 
 
Other Income (loss):
 
 
 
 
 
 
 
Recovery (provision) for loan losses
$
645

 
$
42

 
$
(26
)
 
$
177

Realized gain (loss) on investment securities and related hedges, net
1,266

 
1,761

 
2,306

 
(8,978
)
Realized gain on distressed residential mortgage loans
5,548

 
26

 
6,416

 
2,875

Unrealized (loss) gain on investment securities and related hedges, net
(2,490
)
 
(667
)
 
1,563

 
8,664

Unrealized gain on multi-family loans and debt held in securitization trusts, net
818

 
784

 
738

 
692

Other income
3,073

 
8,125

 
5,635

 
2,245

Total other income
$
8,860

 
$
10,071

 
$
16,632

 
$
5,675

 
 
 
 
 
 
 
 
General, administrative and other expenses
9,360

 
9,936

 
8,705

 
7,220

Income from operations before income taxes
$
17,142

 
$
16,799

 
$
23,445

 
$
13,269

Income tax expense
191

 
2,366

 
163

 
375

Net income
$
16,951

 
$
14,433

 
$
23,282

 
$
12,894

Net loss (income) attributable to non-controlling interest

 
2

 
(14
)
 
3

Net income attributable to Company
$
16,951

 
$
14,435

 
$
23,268

 
$
12,897

Preferred stock dividends
(3,225
)
 
(3,225
)
 
(3,225
)
 
(3,225
)
Net income attributable to Company's common stockholders
$
13,726

 
$
11,210

 
$
20,043

 
$
9,672

 
 
 
 
 
 
 
 
Per share basic income
$
0.13

 
$
0.10

 
$
0.18

 
$
0.09

Per share diluted income
$
0.13

 
$
0.10

 
$
0.18

 
$
0.09

Dividends declared per common share
$
0.24

 
$
0.24

 
$
0.24

 
$
0.24

Weighted average shares outstanding-basic
109,402

 
109,489

 
109,569

 
109,911

Weighted average shares outstanding-diluted
109,402

 
109,489

 
109,569

 
109,911

 
Three Months Ended
 
Mar 31, 2015
 
Jun 30, 2015
 
Sep 30, 2015
 
Dec 31, 2015
Interest income
$
88,985

 
$
84,400

 
$
82,587

 
$
80,866

Interest expense
67,384

 
64,097

 
64,295

 
64,875

Net interest income
$
21,601

 
$
20,303

 
$
18,292

 
$
15,991

 
 
 
 
 
 
 
 
Other Income:
 
 
 
 
 
 
 
(Provision) recovery for loan losses
$
(436
)
 
$
(112
)
 
$
(1,117
)
 
$
302

Realized gain (loss) on investment securities and related hedges, net
1,124

 
(1,291
)
 
(2,895
)
 
(1,555
)
Gain on de-consolidation of multi-family loans held in securitization trust and multi-family collateralized debt obligations
1,483

 

 

 

Realized gain (loss) on distressed residential mortgage loans
676

 
3,614

 
27,224

 
(263
)
Unrealized (loss) gain on investment securities and related hedges, net
(5,728
)
 
4,716

 
(2,631
)
 
1,002

Unrealized gain (loss) on multi-family loans and debt held in securitization trusts, net
13,628

 
5,418

 
(2,170
)
 
(4,508
)
Other income
2,286

 
2,300

 
1,807

 
2,967

Total other income (loss)
$
13,033

 
$
14,645

 
$
20,218

 
$
(2,055
)
 
 
 
 
 
 
 
 
General, administrative and other expenses
$
10,846

 
$
9,139

 
$
9,830

 
$
9,665

Income from operations before income taxes
$
23,788

 
$
25,809

 
$
28,680

 
$
4,271

Income tax expense
245

 
1,178

 
3,048

 
64

Net income attributable to Company
$
23,543

 
$
24,631

 
$
25,632

 
$
4,207

Preferred stock dividends
(1,453
)
 
(3,087
)
 
(3,225
)
 
(3,225
)
Net income attributable to Company's common stockholders
$
22,090

 
$
21,544

 
$
22,407

 
$
982

 
 
 
 
 
 
 
 
Per share basic income
$
0.21

 
$
0.20

 
$
0.20

 
$
0.01

Per share diluted income
$
0.21

 
$
0.20

 
$
0.20

 
$
0.01

Dividends declared per common share
$
0.27

 
$
0.27

 
$
0.24

 
$
0.24

Weighted average shares outstanding-basic
105,488

 
109,252

 
109,402

 
109,402

Weighted average shares outstanding-diluted
105,488

 
109,252

 
109,402

 
109,402