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Consolidated Statements of Income (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Interest income:        
Mortgage-backed securities $ 32,968 $ 25,519 $ 65,007 $ 49,982
Securitized mortgage loans 903 1,527 1,827 3,031
Other investments 19 79 38 384
Total interest income 33,890 27,125 66,872 53,397
Interest expense:        
Repurchase agreements 11,165 7,863 21,383 14,507
Non recourse collateralized financing 281 254 519 735
Total interest expense 11,446 8,117 21,902 15,242
Net interest income 22,444 19,008 44,970 38,155
Provision for loan losses 0 0 (261) (60)
Net interest income after provision for loan losses 22,444 19,008 44,709 38,095
Gain on sale of investments, net 2,031 2,587 3,422 2,938
Fair value adjustments, net 10,753 117 10,596 (93)
Other (expense) income, net 101 159 13 528
General and administrative expenses:        
Compensation and benefits (2,308) (1,779) (4,666) (3,577)
Other general and administrative (1,487) (1,245) (2,938) (2,568)
Net income 31,534 18,847 51,136 35,323
Preferred Stock Dividends (2,092) 0 (3,313) 0
Net income to common shareholders $ 29,442 $ 18,847 $ 47,823 $ 35,323
Weighted average common shares:        
Basic 54,973,561 54,353,811 54,638,651 51,930,581
Diluted 54,973,561 54,353,811 54,638,651 51,930,581
Net income per common share:        
Basic Net Income Per Common Share $ 0.54 $ 0.35 $ 0.88 $ 0.68
Diluted Net Income Per Common Share $ 0.54 $ 0.35 $ 0.88 $ 0.68
Dividends declared per common share $ 0.29 $ 0.29 $ 0.58 $ 0.57