Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (USD $)
In Thousands, except Share data, unless otherwise specified
 3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Interest income:        
Available-for-sale securities $ 124,621 $ 65,919 $ 313,154 $ 125,413
Trading securities 1,278 1,706 3,578 2,783
Mortgage loans held-for-sale 167 0 362 0
Cash and cash equivalents 243 114 620 241
Total interest income 126,309 67,739 317,714 128,437
Interest expense 20,743 7,218 47,737 13,580
Net interest income 105,566 60,521 269,977 114,857
Other-than-temporary impairments:        
Total other-than-temporary impairment losses (559) (3,371) (9,310) (3,665)
Non-credit portion of loss recognized in other comprehensive income (loss) 0 0 0 0
Net other-than-temporary credit impairment losses 559 3,371 9,310 3,665
Other income:        
Gain on investment securities, net 2,527 31,432 14,247 36,159
Loss on interest rate swap and swaption agreements (76,472) (39,311) (153,679) (88,180)
Gain (loss) on other derivative instruments 3,454 22,361 (13,053) 37,474
Other income 731 0 822 0
Total other (loss) income (69,760) 14,482 (151,663) (14,547)
Expenses:        
Management fees 9,733 4,785 24,086 9,063
Other operating expenses 6,546 2,850 14,328 6,516
Total expenses 16,279 7,635 38,414 15,579
Income before income taxes 18,968 63,997 70,590 81,066
(Benefit from) provision for income taxes 7,834 (9,388) 32,016 (5,064)
Net income attributable to common stockholders 26,802 54,609 102,606 76,002
Basic earnings per weighted average common share $ 0.10 $ 0.42 $ 0.46 $ 0.90
Diluted earnings per weighted average common share $ 0.10 $ 0.42 $ 0.46 $ 0.90
Dividends declared per common share $ 0.36 $ 0.40 $ 1.16 $ 1.20
Basic weighted average number of shares of common stock 270,005,212 130,607,566 224,058,762 84,751,854
Diluted weighted average number of shares of common stock 270,937,960 130,607,566 224,369,678 84,751,854
Comprehensive income (loss):        
Net income 26,802 54,609 102,606 76,002
Other comprehensive income (loss):        
Unrealized gain (loss) on available-for-sale securities, net 497,598 (72,573) 759,112 (48,944)
Other comprehensive income (loss) 497,598 (72,573) 759,112 (48,944)
Comprehensive income (loss) $ 524,400 $ (17,964) $ 861,718 $ 27,058