v3.26.3
Net Interest Income (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Total interest income $ 181,234 $ 160,633 $ 527,692 $ 431,268
Total interest expense 132,437 124,047 380,275 325,137
Total net interest income 48,797 36,586 147,417 106,131
Senior unsecured notes        
Senior unsecured notes 9,300 7,615 25,966 17,160
Subordinated debentures        
Subordinated debentures 904 966 2,667 2,871
Investment securities available for sale        
Investment securities available for sale 101,717 87,565 296,659 220,106
Residential loans        
Interest income 12,233 9,036 32,662 27,694
Consolidated SLST | VIE, Primary Beneficiary        
Interest income 13,272 14,306 40,758 36,936
Interest expense 10,705 11,199 32,790 26,592
Residential loans held in securitization trusts        
Interest income 49,867 43,392 141,139 132,609
Total residential loans        
Interest income 75,372 66,734 214,559 197,239
Residential loans held for sale        
Interest income 2,495 2,149 8,866 2,149
Multi-family loans        
Interest income 1,135 2,090 4,447 6,846
Other        
Other 515 2,095 3,161 4,928
Repurchase agreements and warehouse facilities        
Interest expense 75,606 71,550 216,130 180,063
Residential loan securitizations        
Interest expense 34,486 31,478 98,947 94,657
Non-Agency RMBS re-securitization        
Interest expense 1,436 1,239 3,775 3,794
Total collateralized debt obligations        
Interest expense $ 46,627 $ 43,916 $ 135,512 $ 125,043