v3.25.0.1
Consolidated Statements of Comprehensive Income (Loss) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Interest income $ 319,534 $ 207,517 $ 86,695
Interest Expense, Operating 313,657 215,448 43,612
Net interest income (expense) 5,877 (7,931) 43,083
Realized loss on sales of investments, net (1,506) (74,916) (89,067)
Unrealized (loss) gain on investments, net (142,352) 142,501 (213,022)
Gain (loss) on derivative instruments, net 288,377 (32,905) 436,007
Total other gains, net 144,519 34,680 133,918
Noninterest Expense [Abstract]      
Compensation and benefits (20,505) (16,929) (16,808)
Other general and administrative (14,088) (13,799) (15,545)
Other operating expenses (1,905) (2,151) (1,487)
Total operating expenses (36,498) (32,879) (33,840)
Net income (loss) 113,898 (6,130) 143,161
Preferred stock dividends (7,694) (7,694) (7,694)
Net income (loss) to common shareholders 106,204 (13,824) 135,467
Other comprehensive income:      
Unrealized (loss) gain on available-for-sale investments, net (13,987) 22,844 (202,063)
Total other comprehensive (loss) income (13,987) 22,844 (188,075)
Comprehensive income (loss) to common shareholders $ 92,217 $ 9,020 $ (52,608)
Weighted average common shares-basic (in shares) 70,766,410 54,809,462 42,491,433
Weighted average common shares-diluted (in shares) 71,260,358 54,809,462 42,743,037
Net income (loss) per common share-basic (in dollars per share) $ 1.50 $ (0.25) $ 3.19
Net income (loss) per common share-diluted (in dollars per share) $ 1.49 $ (0.25) $ 3.17
Reclassification of realized gain on available-for-sale investments, net $ 0 $ 0 $ 13,988

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