v3.26.3
Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Interest income and interest expense        
Interest income $ 82,339 $ 77,106 $ 230,571 $ 215,819
Interest expense (55,655) (48,818) (154,504) (137,485)
Net interest income 26,684 28,288 76,067 78,334
Other revenue        
Other income, net 1,162 1,597 5,726 6,272
Revenue from real estate owned operations 8,078 7,956 25,447 26,466
Total other revenue 9,240 9,553 31,173 32,738
Other expenses        
Professional fees 1,522 1,783 4,311 4,175
General and administrative 890 998 2,753 3,088
Stock compensation expense 1,254 1,389 5,390 5,405
Servicing and asset management fees 380 647 1,155 1,661
Management fee 5,326 5,237 15,983 15,584
Expenses from real estate owned operations 8,509 8,293 24,044 28,899
Total other expenses 17,881 18,347 53,636 58,812
Gain on sale of real estate owned, net 0 0 0 6,970
Credit loss (expense) benefit, net (8,573) 2,608 (11,850) (2,594)
Income before income taxes 9,470 22,102 41,754 56,636
Income tax expense, net (104) (109) (317) (293)
Net income 9,366 21,993 41,437 56,343
Preferred stock dividends and participating securities' share in earnings (3,546) (3,544) (11,097) (11,053)
Net income attributable to common stockholders $ 5,820 $ 18,449 $ 30,340 $ 45,290
Earnings per common share, basic (in USD per share) $ 0.08 $ 0.23 $ 0.39 $ 0.57
Earnings per common share, diluted (in USD per share) $ 0.08 $ 0.23 $ 0.39 $ 0.56
Weighted average number of common shares outstanding        
Basic (in shares) 76,333,913 78,515,639 77,202,980 79,646,365
Diluted (in shares) 76,491,356 78,813,809 77,811,788 80,182,854
Other comprehensive income        
Net income $ 9,366 $ 21,993 $ 41,437 $ 56,343
Comprehensive net income $ 9,366 $ 21,993 $ 41,437 $ 56,343