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Consolidated Statements of Comprehensive Income (Loss) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Interest income $ 86,695 $ 60,051 $ 96,468
Interest expense (43,612) (5,671) (32,615)
Net interest income 43,083 54,380 63,853
Realized (loss) gain on sale of investments, net (89,067) 6,705 308,084
Unrealized (loss) gain on investments, net (213,022) (14,814) 20
Gain (loss) on derivative instruments, net 436,007 81,417 (172,290)
Total other gains, net 133,918 73,308 135,814
Noninterest Expense [Abstract]      
Compensation and benefits (16,808) (12,757) (11,743)
Other general and administrative (15,545) (11,328) (9,337)
Other operating expenses (1,487) (1,342) (1,057)
Total operating expenses (33,840) (25,427) (22,137)
Net income 143,161 102,261 177,530
Preferred stock dividends (7,694) (8,329) (13,599)
Preferred stock redemption charge 0 (2,987) (3,914)
Net (loss) income to common stockholders 135,467 90,945 160,017
Other comprehensive income:      
Unrealized (loss) gain on available-for-sale investments, net (202,063) (66,827) 214,539
Reclassification adjustment for realized loss (gain) on available-for-sale investments, net 13,988 (6,705) (308,084)
Total other comprehensive loss (188,075) (73,532) (93,545)
Comprehensive (loss) income to common shareholders $ (52,608) $ 17,413 $ 66,472
Weighted average common shares-basic (in shares) 42,491,433 32,596,272 23,106,200
Weighted average common shares-diluted (in shares) 42,743,037 32,761,331 23,106,200
Net income (loss) per common share-basic (in dollars per share) $ 3.19 $ 2.79 $ 6.93
Net income (loss) per common share-diluted (in dollars per share) $ 3.17 $ 2.78 $ 6.93