Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
|
| Interest income and interest expense | ||||
| Interest income | $ 70,668 | $ 78,115 | $ 138,713 | $ 160,299 |
| Interest expense | (45,524) | (50,588) | (88,667) | (105,969) |
| Net interest income | 25,144 | 27,527 | 50,046 | 54,330 |
| Other revenue | ||||
| Other income, net | 2,824 | 3,494 | 4,675 | 8,396 |
| Revenue from real estate owned operations | 8,231 | 8,281 | 18,510 | 15,503 |
| Total other revenue | 11,055 | 11,775 | 23,185 | 23,899 |
| Other expenses | ||||
| Professional fees | 1,604 | 1,716 | 2,392 | 2,691 |
| General and administrative | 989 | 1,186 | 2,090 | 2,172 |
| Stock compensation expense | 1,997 | 1,688 | 4,016 | 3,360 |
| Servicing and asset management fees | 592 | 508 | 1,014 | 979 |
| Management fee | 5,194 | 5,044 | 10,347 | 10,031 |
| Expenses from real estate owned operations | 10,256 | 8,882 | 20,606 | 17,228 |
| Total other expenses | 20,632 | 19,024 | 40,465 | 36,461 |
| Gain on sale of real estate owned, net | 6,970 | 0 | 6,970 | 0 |
| Credit loss (expense) benefit, net | (1,778) | 4,537 | (5,202) | 181 |
| Income before income taxes | 20,759 | 24,815 | 34,534 | 41,949 |
| Income tax expense, net | (128) | (100) | (184) | (490) |
| Net income | 20,631 | 24,715 | 34,350 | 41,459 |
| Preferred stock dividends and participating securities' share in earnings | (3,750) | (3,689) | (7,509) | (7,378) |
| Net income attributable to common stockholders | $ 16,881 | $ 21,026 | $ 26,841 | $ 34,081 |
| Earnings per common share, basic (in USD per share) | $ 0.21 | $ 0.26 | $ 0.33 | $ 0.43 |
| Earnings per common share, diluted (in USD per share) | $ 0.21 | $ 0.26 | $ 0.33 | $ 0.43 |
| Weighted average number of common shares outstanding | ||||
| Basic (in shares) | 79,474,862 | 79,456,745 | 80,221,098 | 78,662,740 |
| Diluted (in shares) | 80,208,877 | 80,907,705 | 80,918,798 | 79,604,665 |
| Other comprehensive income | ||||
| Net income | $ 20,631 | $ 24,715 | $ 34,350 | $ 41,459 |
| Comprehensive net income | $ 20,631 | $ 24,715 | $ 34,350 | $ 41,459 |
| X | ||||||||||
- Definition Expenses From Real Estate Owned Operations No definition available.
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| X | ||||||||||
- Definition Preferred stock dividends and participating securities share in earnings (loss). No definition available.
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- Definition Revenue From Real Estate Owned Operations No definition available.
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| X | ||||||||||
- Definition Servicing and asset management fees. No definition available.
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| X | ||||||||||
- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The net gain (loss) resulting from sales and other disposals of real estate owned for investment purposes. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Amount of interest expense classified as operating. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Amount of interest income (expense) classified as operating. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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| X | ||||||||||
- Definition Amount of operating interest income, including, but not limited to, amortization and accretion of premiums and discounts on securities. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Amount of expense for investment management fee, including, but not limited to, expense in connection with research, selection, supervision, and custody of investment. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The total amount of noninterest income which may be derived from: (1) fees and commissions; (2) premiums earned; (3) insurance policy charges; (4) the sale or disposal of assets; and (5) other sources not otherwise specified. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Represents the total of noninterest income derived from certain activities and assets including (for example): (1) venture capital investments; (2) bank owned life insurance; (3) foreign currency transactions; and (4) mortgage servicing rights. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount of expense classified as other. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Amount of credit loss expense (reversal of expense) for financing receivable. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of noncash expense for share-based payment arrangement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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