Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (USD $)
 12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Interest income:      
Available-for-sale securities $ 197,126,000 $ 39,844,000 $ 2,796,000
Trading securities 4,159,000 170,000 0
Mortgage loans held for sale 2,000 0 0
Cash and cash equivalents 347,000 107,000 70,000
Total interest income 201,634,000 40,121,000 2,866,000
Interest expense 22,709,000 4,421,000 131,000
Net interest income 178,925,000 35,700,000 2,735,000
Other-than-temporary impairments:      
Total other-than-temporary impairment losses (5,102,000) 0 0
Net other-than-temporary credit impairment losses (5,102,000) 0 0
Other income:      
Gain on investment securities, net 36,520,000 6,127,000 336,000
Loss on interest rate swap and swaption agreements (86,769,000) (6,344,000) 364,000
Gain on other derivative instruments 26,755,000 7,156,000 0
Total other income (23,494,000) 6,939,000 700,000
Expenses:      
Management fees 14,241,000 2,989,000 326,000
Costs associated with business combination 0 0 9,572,000
Costs associated with Capitol as a development stage company 0 0 1,347,000
Other operating expenses 9,762,000 4,578,000 1,252,000
Total expenses 24,003,000 7,567,000 12,497,000
Net (loss) income before income taxes 126,326,000 35,072,000 (9,062,000)
Benefit from income taxes 1,106,000 683,000 318,000
Net (loss) income 127,432,000 35,755,000 (8,744,000)
Accretion of trust account income relating to common stock subject to possible conversion 0 0 (92,872)
Net income (loss) attributable to common stockholders 127,432,000 35,755,000 (8,837,000)
Basic and diluted (loss) earnings per weighted average common share $ 1.29 $ 1.60 $ (0.39)
Dividends declared per common share $ 1.60 $ 1.48 $ 0.26
Basic and diluted weighted average number of shares of common stock 98,826,868 22,381,683 22,941,728
Comprehensive income:      
Net income (loss) attributable to common stockholders 127,432,000 35,755,000 (8,837,000)
Other comprehensive income (loss):      
Unrealized gain (loss) on available-for-sale securities, net (81,335,000) 23,569,000 (950,000)
Other comprehensive income (loss) (81,335,000) 23,569,000 (950,000)
Comprehensive income $ 46,097,000 $ 59,324,000 $ (9,694,000)