v3.26.1
Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Interest income and interest expense        
Interest income $ 74,053 $ 70,668 $ 148,232 $ 138,713
Interest expense (50,387) (45,524) (98,849) (88,667)
Net interest income 23,666 25,144 49,383 50,046
Other revenue        
Other income, net 1,261 2,824 4,564 4,675
Revenue from real estate owned operations 9,081 8,231 17,369 18,510
Total other revenue 10,342 11,055 21,933 23,185
Other expenses        
Professional fees 1,321 1,604 2,789 2,392
General and administrative 953 989 1,863 2,090
Stock compensation expense 2,080 1,997 4,136 4,016
Servicing and asset management fees 250 592 775 1,014
Management fee 5,342 5,194 10,657 10,347
Expenses from real estate owned operations 7,266 10,256 15,535 20,606
Total other expenses 17,212 20,632 35,755 40,465
Gain on sale of real estate owned, net 0 6,970 0 6,970
Credit loss expense, net (3,563) (1,778) (3,277) (5,202)
Income before income taxes 13,233 20,759 32,284 34,534
Income tax expense, net (101) (128) (213) (184)
Net income 13,132 20,631 32,071 34,350
Preferred stock dividends and participating securities' share in earnings (3,778) (3,750) (7,551) (7,509)
Net income attributable to common stockholders $ 9,354 $ 16,881 $ 24,520 $ 26,841
Earnings per common share, basic (in USD per share) $ 0.12 $ 0.21 $ 0.32 $ 0.33
Earnings per common share, diluted (in USD per share) $ 0.12 $ 0.21 $ 0.31 $ 0.33
Weighted average number of common shares outstanding        
Basic (in shares) 77,043,597 79,474,862 77,644,716 80,221,098
Diluted (in shares) 78,025,668 80,208,877 78,535,839 80,918,798
Other comprehensive income        
Net income $ 13,132 $ 20,631 $ 32,071 $ 34,350
Comprehensive net income $ 13,132 $ 20,631 $ 32,071 $ 34,350