v3.24.1.u1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Interest Income    
Residential consumer loans $ 86,935 $ 57,874
Residential investor loans 95,035 97,296
Consolidated Agency multifamily loans 4,581 4,618
Real estate securities 6,280 6,428
Other interest income 11,909 12,300
Total interest income 204,740 178,516
Interest Expense    
Short-term debt (24,005) (31,828)
Asset-backed securities issued (120,259) (87,465)
Long-term debt (36,266) (32,786)
Total interest expense (180,530) (152,079)
Net Interest Income 24,210 26,437
Non-Interest Income    
Mortgage banking activities, net 14,556 16,671
Investment fair value changes, net 21,837 (4,392)
HEI income, net 9,031 4,265
Other income, net 4,506 4,556
Realized gains, net 409 (2)
Total non-interest income, net 50,339 21,098
General and administrative expenses (34,569) (35,555)
Portfolio management costs (3,597) (3,510)
Loan acquisition costs (2,237) (1,289)
Other expenses (3,361) (3,684)
Net Income before (Provision for) Benefit from Income Taxes 30,785 3,497
(Provision for) benefit from income taxes (523) 1,123
Net Income 30,262 4,620
Dividends on preferred stock (1,750) (1,419)
Net income available to common stockholders $ 28,512 $ 3,201
Basic earnings per common share (in dollars per share) $ 0.21 $ 0.02
Diluted earnings per common share (in dollars per share) $ 0.21 $ 0.02
Basic weighted average common shares outstanding (in shares) 131,570,347 113,678,911
Diluted weighted average common shares outstanding (in shares) 131,570,347 114,134,556

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