v3.26.1
Segment Reporting - Schedule of Reportable Operating Segments (Details) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Segment Reporting [Line Items]        
Interest income $ 124,155,000 $ 110,865,000 $ 253,963,000 $ 219,995,000
Interest expense 103,912,000 93,113,000 213,077,000 183,394,000
Total Net Interest Income 20,243,000 17,752,000 40,886,000 36,601,000
Total Other Income/(Loss) 2,874,000 (2,713,000) (13,302,000) (1,164,000)
Management fee to affiliate 2,311,000 2,301,000 4,630,000 4,628,000
Non-investment related expenses [1] 2,306,000 2,507,000 4,962,000 5,787,000
Investment related expenses [1] 4,220,000 3,473,000 8,518,000 6,883,000
Transaction related expenses [1] 92,000 3,018,000 666,000 4,079,000
Total Expenses 8,929,000 11,299,000 18,776,000 21,377,000
Income/(loss) before equity in earnings/(loss) from affiliates 14,188,000 3,740,000 8,808,000 14,060,000
Equity in earnings/(loss) from affiliates 269,000 231,000 2,269,000 1,416,000
Income/(Loss) before Income Taxes 14,457,000 3,971,000 11,077,000 15,476,000
Income tax expense 188,000 26,000 370,000 54,000
Net Income/(Loss) 14,269,000 3,945,000 10,707,000 15,422,000
Dividends on preferred stock 5,177,000 5,321,000 10,330,000 10,625,000
Net Income/(Loss) Available to Common Stockholders 9,092,000 (1,376,000) 377,000 4,797,000
Unrealized gain (loss) on investments 4,259,000 (158,000) 6,117,000 (6,562,000)
Other        
Segment Reporting [Line Items]        
Interest income 409,000 879,000 804,000 1,957,000
Interest expense 2,566,000 2,545,000 5,126,000 5,085,000
Total Net Interest Income (2,157,000) (1,666,000) (4,322,000) (3,128,000)
Total Other Income/(Loss) 0 0 0 0
Management fee to affiliate 2,311,000 2,301,000 4,630,000 4,628,000
Non-investment related expenses 2,306,000 2,507,000 4,962,000 5,787,000
Investment related expenses 0 0 0 0
Transaction related expenses (3,000) 0 197,000 0
Total Expenses 4,614,000 4,808,000 9,789,000 10,415,000
Income/(loss) before equity in earnings/(loss) from affiliates (6,771,000) (6,474,000) (14,111,000) (13,543,000)
Equity in earnings/(loss) from affiliates 0 0 0 0
Income/(Loss) before Income Taxes (6,771,000) (6,474,000) (14,111,000) (13,543,000)
Income tax expense 0 0 0 0
Net Income/(Loss) (6,771,000) (6,474,000) (14,111,000) (13,543,000)
Dividends on preferred stock 5,177,000 5,321,000 10,330,000 10,625,000
Net Income/(Loss) Available to Common Stockholders (11,948,000) (11,795,000) (24,441,000) (24,168,000)
Loans and Securities | Operating Segments        
Segment Reporting [Line Items]        
Interest income 123,746,000 109,986,000 253,159,000 218,038,000
Interest expense 101,346,000 90,568,000 207,951,000 178,309,000
Total Net Interest Income 22,400,000 19,418,000 45,208,000 39,729,000
Total Other Income/(Loss) 2,874,000 (2,713,000) (13,302,000) (1,164,000)
Management fee to affiliate 0 0 0 0
Non-investment related expenses 0 0 0 0
Investment related expenses 4,220,000 3,473,000 8,518,000 6,883,000
Transaction related expenses 95,000 3,018,000 469,000 4,079,000
Total Expenses 4,315,000 6,491,000 8,987,000 10,962,000
Income/(loss) before equity in earnings/(loss) from affiliates 20,959,000 10,214,000 22,919,000 27,603,000
Equity in earnings/(loss) from affiliates (446,000) 268,000 (758,000) 77,000
Income/(Loss) before Income Taxes 20,513,000 10,482,000 22,161,000 27,680,000
Income tax expense 188,000 26,000 370,000 54,000
Net Income/(Loss) 20,325,000 10,456,000 21,791,000 27,626,000
Dividends on preferred stock 0 0 0 0
Net Income/(Loss) Available to Common Stockholders 20,325,000 10,456,000 21,791,000 27,626,000
Arc Home        
Segment Reporting [Line Items]        
Unrealized gain (loss) on investments (300,000) 0 900,000 1,400,000
Arc Home | Operating Segments        
Segment Reporting [Line Items]        
Interest income 0 0 0 0
Interest expense 0 0 0 0
Total Net Interest Income 0 0 0 0
Total Other Income/(Loss) 0 0 0 0
Management fee to affiliate 0 0 0 0
Non-investment related expenses 0 0 0 0
Investment related expenses 0 0 0 0
Transaction related expenses 0 0 0 0
Total Expenses 0 0 0 0
Income/(loss) before equity in earnings/(loss) from affiliates 0 0 0 0
Equity in earnings/(loss) from affiliates 715,000 (37,000) 3,027,000 1,339,000
Income/(Loss) before Income Taxes 715,000 (37,000) 3,027,000 1,339,000
Income tax expense 0 0 0 0
Net Income/(Loss) 715,000 (37,000) 3,027,000 1,339,000
Dividends on preferred stock 0 0 0 0
Net Income/(Loss) Available to Common Stockholders $ 715,000 $ (37,000) $ 3,027,000 $ 1,339,000
[1] Refer to Note 10 for additional details on related party transactions.