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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Interest income:        
Residential mortgage investments $ 67,649 $ 57,073 $ 201,989 $ 168,017
Other 350 366 1,063 757
Interest income 67,999 57,439 203,052 168,774
Interest expense:        
Secured borrowings (54,393) (36,655) (147,655) (98,745)
Unsecured borrowings (1,910) (1,910) (5,701) (5,701)
Interest expense (56,303) (38,565) (153,356) (104,446)
Net interest income (expense) 11,696 18,874 49,696 64,328
Other revenue (expense):        
Compensation-related expense (1,913) (1,073) (5,521) (4,021)
Other general and administrative expense (1,184) (1,097) (3,320) (3,435)
Miscellaneous other revenue 81 48 233 130
Operating expenses (3,016) (2,122) (8,608) (7,326)
Net income 8,680 16,752 41,088 57,002
Net income available to common stockholders:        
Net income 8,680 16,752 41,088 57,002
Less preferred stock dividends (4,842) (4,718) (14,526) (12,600)
Net income available to common stockholders $ 3,838 $ 12,034 $ 26,562 $ 44,402
Net income per common share:        
Basic and diluted $ 0.04 $ 0.13 $ 0.29 $ 0.46
Weighted average common shares outstanding:        
Basic (in shares) 91,206 95,792 92,202 95,768
Diluted (in shares) 91,346 95,923 92,317 95,905
Cash dividends declared per share:        
Common (in dollars per share) $ 0.11 $ 0.19 $ 0.41 $ 0.61
Series E Preferred [Member]        
Cash dividends declared per share:        
Series E preferred (in dollars per share) $ 0.47 $ 0.47 $ 1.41 $ 1.41