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Quarterly Financial Data (unaudited)
 12 Months Ended
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Data (unaudited)
Note 19 -Quarterly Financial Data (unaudited)

The following tables are a comparative breakdown of our unaudited quarterly financial results for the immediately preceding eight quarters.
 
Quarter Ended
 
March 31,
2016
 
June 30,
2016
 
September 30,
2016
 
December 31,
2016
Agency Securities, net of amortization of premium and fees (2)
$
78,650

 
$
55,539

 
$
44,544

 
$
47,063

Non-Agency Securities, including discount accretion
327

 
9,853

 
12,969

 
13,424

Interest-Only Securities
—

 
3

 
852

 
771

Interest expense- repurchase agreements
(19,148
)
 
(18,276
)
 
(17,040
)
 
(18,643
)
Net Interest Income
$
59,829


$
47,119


$
41,325


$
42,615

Realized gain (loss) on sale of Agency Securities (reclassified from Other comprehensive income (loss))
1,891

 
14,625

 
2,421

 
(37,147
)
Other than temporary impairment of Agency Securities
—

 
—

 
—

 
(6,540
)
Gain on Non-Agency Securities
4,122

 
10,151

 
39,522

 
5,325

Gain (Loss) on Interest-Only Securities
—

 
(1,243
)
 
(1,105
)
 
8,778

Bargain purchase price on acquisition of JAVELIN
—

 
6,484

 
—

 
—

Realized gain (loss) on derivatives (1)
(246,105
)
 
(112,515
)
 
19,816

 
(113,594
)
Unrealized gain (loss) on derivatives
(89,058
)
 
66,141

 
25,824

 
203,305

Expenses (2)
(10,154
)
 
(9,587
)
 
(9,115
)
 
(8,647
)
Net Income (Loss)
$
(279,475
)
 
$
21,175

 
$
118,688

 
$
94,095

Dividends declared on preferred stock
(3,905
)
 
(3,905
)
 
(3,905
)
 
(3,906
)
Net Income (Loss) available (related) to common stockholders
$
(283,380
)

$
17,270


$
114,783


$
90,189

Net income (loss) available (related) per share to common stockholders – Basic
$
(7.73
)
 
$
0.47

 
$
3.13

 
$
2.46

Net income (loss) available (related) per share to common stockholders – Diluted
$
(7.73
)
 
$
0.47

 
$
3.12

 
$
2.45

Dividends declared per common share
$
0.99

 
$
0.71

 
$
0.66

 
$
0.66

Weighted average common shares outstanding – Basic
36,683

 
36,693

 
36,703

 
36,713

Weighted average common shares outstanding – Diluted
36,683

 
36,748

 
36,746

 
36,745


(1) Interest expense related to our interest rate swap contracts is recorded in realized loss on derivatives on the consolidated statements of operations.
(2) Certain amounts included in other expenses in the first and second quarters of 2016 have been reclassified to Interest Income Agency Securities.

 
Quarter Ended
 
March 31,
2015
 
June 30,
2015
 
September 30,
2015
 
December 31,
2015
Interest income, net of premium amortization
$
99,550

 
$
91,702

 
$
85,643

 
$
88,405

Interest expense- repurchase agreements
(14,192
)
 
(13,917
)
 
(14,430
)
 
(16,739
)
Net Interest Income
$
85,358

 
$
77,785

 
$
71,213

 
$
71,666

Realized gain (loss) on sale of Agency Securities (reclassified from Other comprehensive income (loss))
6,544

 
(5,051
)
 
69

 
(13,108
)
Realized loss on derivatives (1)
8,099

 
(59,978
)
 
(17,400
)
 
(37,791
)
Unrealized gain (loss) on derivatives
(216,338
)
 
194,507

 
(266,074
)
 
106,243

Expenses
(9,132
)
 
(9,246
)
 
(9,360
)
 
(9,211
)
Net Income (Loss)
$
(125,469
)
 
$
198,017

 
$
(221,552
)
 
$
117,799

Dividends declared on preferred stock
(3,905
)
 
(3,905
)
 
(3,905
)
 
(3,907
)
Net Income (Loss) available (related) to common stockholders
$
(129,374
)
 
$
194,112

 
$
(225,457
)
 
$
113,892

Net income (loss) available (related) per share to common stockholders – Basic
$
(2.93
)
 
$
4.42

 
$
(5.18
)
 
$
2.88

Net income (loss) available (related) per share to common stockholders – Diluted
$
(2.93
)
 
$
4.41

 
$
(5.18
)
 
$
2.87

Dividends declared per common share
$
0.96

 
$
0.96

 
$
0.98

 
$
0.99

Weighted average common shares outstanding – Basic
44,118

 
43,916

 
43,561

 
39,567

Weighted average common shares outstanding – Diluted
44,118

 
44,022

 
43,561

 
39,645


(1) Interest expense related to our interest rate swap contracts is recorded in realized loss on derivatives on the consolidated statements of operations.