v3.26.1
Condensed Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
ASSETS:    
Mortgage-backed securities, at fair value (includes pledged assets of $11,446,771 and $10,502,743, respectively) $ 11,540,164 $ 10,628,658
U.S. Treasury securities, available-for-sale (amortized cost of $183,000 and $134,715; includes pledged assets of $182,862 and $135,133, respectively) 182,862 135,133
Cash and cash equivalents 682,598 665,865
Restricted cash 131,037 58,696
Accrued interest receivable 53,411 49,127
Derivative assets 15,062 9,253
Reverse repurchase agreements 495,828 128,613
Receivable for investment securities and TBA transactions 2,017 0
Other assets 1,133 648
Total Assets 13,104,112 11,675,993
LIABILITIES:    
Repurchase agreements 11,086,915 10,115,466
Payable for investment securities and TBA transactions 0 1,519
Dividends payable 19,986 21,865
Derivative liabilities 4,723 1,846
Accrued interest payable 49,275 31,397
Obligation to return securities borrowed under reverse repurchase agreements, at fair value 496,036 128,724
Other liabilities 4,117 1,567
Total Liabilities 11,662,854 10,304,045
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:    
Preferred stock, $0.01 par value; 20,000,000 shares authorized; no shares issued and outstanding as of June 30, 2026 and December 31, 2025 0 0
Common Stock, $0.01 par value; 400,000,000 shares authorized, 199,603,438 shares issued and outstanding as of June 30, 2026 and 181,985,900 shares issued and outstanding as of December 31, 2025 1,996 1,820
Additional paid-in capital 1,553,904 1,553,451
Accumulated deficit (114,504) (183,741)
Accumulated other comprehensive (loss) income (138) 418
Total Stockholders' Equity 1,441,258 1,371,948
Total Liabilities and Stockholders' Equity 13,104,112 11,675,993
Related Party [Member]    
LIABILITIES:    
Due to affiliates $ 1,802 $ 1,661