2021 Q1 Form 10-Q Financial Statement

#000142820521000134 Filed on April 21, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $81.90M -$344.2M
YoY Change -123.79% 684.05%
Cost Of Revenue $100.0K $51.50M
YoY Change -99.81% -15.57%
Gross Profit $81.80M -$395.7M
YoY Change -120.67% 277.22%
Gross Profit Margin 99.88%
Selling, General & Admin $10.00M $10.00M
YoY Change 0.0% 8.7%
% of Gross Profit 12.22%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $10.49M $9.935M
YoY Change 5.63% 4.36%
Operating Profit $71.31M -$405.6M
YoY Change -117.58% 254.51%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $71.30M -$406.7M
YoY Change -117.53% 255.51%
Income Tax
% Of Pretax Income
Net Earnings $71.33M -$406.7M
YoY Change -117.54% 255.53%
Net Earnings / Revenue 87.09%
Basic Earnings Per Share $1.04 -$6.95
Diluted Earnings Per Share $1.03 -$6.95
COMMON SHARES
Basic Shares Outstanding 65.96M shares 58.88M shares
Diluted Shares Outstanding 67.02M shares 58.88M shares

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $278.0M $334.0M
YoY Change -16.77% 100.0%
Cash & Equivalents $330.4M $684.2M
Short-Term Investments
Other Short-Term Assets $10.00M $2.000M
YoY Change 400.0% 100.0%
Inventory
Prepaid Expenses
Receivables $370.0M $698.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $658.0M $1.034B
YoY Change -36.36% 397.12%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $4.318B $3.553B
YoY Change 21.53% -73.76%
Other Assets $53.00M $350.0M
YoY Change -84.86% 493.22%
Total Long-Term Assets $4.692B $4.031B
YoY Change 16.38% -70.71%
TOTAL ASSETS
Total Short-Term Assets $658.0M $1.034B
Total Long-Term Assets $4.692B $4.031B
Total Assets $5.350B $5.065B
YoY Change 5.61% -63.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.000M $9.000M
YoY Change -55.56% 50.0%
Accrued Expenses $1.000M $3.000M
YoY Change -66.67% -86.36%
Deferred Revenue
YoY Change
Short-Term Debt $3.811B $3.465B
YoY Change 9.99% -71.47%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.981B $3.607B
YoY Change 10.37% -70.49%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $341.0M $671.0M
YoY Change -49.18% 153.21%
Total Long-Term Liabilities $341.0M $671.0M
YoY Change -49.18% 153.21%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.981B $3.607B
Total Long-Term Liabilities $341.0M $671.0M
Total Liabilities $4.322B $4.279B
YoY Change 1.01% -65.73%
SHAREHOLDERS EQUITY
Retained Earnings -$2.225B -$2.413B
YoY Change -7.8% 39.35%
Common Stock $69.00K $59.00K
YoY Change 16.95% -1.67%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.027B $786.3M
YoY Change
Total Liabilities & Shareholders Equity $5.350B $5.065B
YoY Change 5.61% -63.75%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $71.33M -$406.7M
YoY Change -117.54% 255.53%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $21.20M -$184.4M
YoY Change -111.49% 1527.37%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $804.2M $8.599B
YoY Change -90.65% -259.59%
Cash From Investing Activities $804.2M $8.599B
YoY Change -90.65% -259.59%
FINANCING ACTIVITIES
Cash Dividend Paid $22.54M $34.58M
YoY Change -34.81% 1.49%
Common Stock Issuance & Retirement, Net -$52.96M $777.0K
YoY Change -6915.96% -100.24%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$666.7M -$8.003B
YoY Change -91.67% -248.39%
NET CHANGE
Cash From Operating Activities $21.20M -$184.4M
Cash From Investing Activities $804.2M $8.599B
Cash From Financing Activities -$666.7M -$8.003B
Net Change In Cash $158.7M $411.1M
YoY Change -61.4% -7149.67%
FREE CASH FLOW
Cash From Operating Activities $21.20M -$184.4M
Capital Expenditures
Free Cash Flow
YoY Change

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IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
7715000 USD
CY2020Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-7446000 USD
CY2021Q1 us-gaap Increase Decrease In Derivative Assets And Liabilities
IncreaseDecreaseInDerivativeAssetsAndLiabilities
117813000 USD
CY2020Q1 us-gaap Increase Decrease In Derivative Assets And Liabilities
IncreaseDecreaseInDerivativeAssetsAndLiabilities
-128953000 USD
CY2021Q1 us-gaap Increase Decrease In Payables Under Repurchase Agreements
IncreaseDecreaseInPayablesUnderRepurchaseAgreements
-610000 USD
CY2020Q1 us-gaap Increase Decrease In Payables Under Repurchase Agreements
IncreaseDecreaseInPayablesUnderRepurchaseAgreements
-28442000 USD
CY2021Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1802000 USD
CY2020Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
5364000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
21197000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-184446000 USD
CY2021Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
0 USD
CY2020Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
1657148000 USD
CY2021Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
278722000 USD
CY2020Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
475766000 USD
CY2021Q1 us-gaap Proceeds From Maturities Repayments And Calls Of Trading Securities Heldforinvestment
ProceedsFromMaturitiesRepaymentsAndCallsOfTradingSecuritiesHeldforinvestment
0 USD
CY2020Q1 us-gaap Proceeds From Maturities Repayments And Calls Of Trading Securities Heldforinvestment
ProceedsFromMaturitiesRepaymentsAndCallsOfTradingSecuritiesHeldforinvestment
31404000 USD
CY2021Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
405050000 USD
CY2020Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
9777373000 USD
CY2021Q1 us-gaap Payments For Securities Purchased Under Agreements To Resell
PaymentsForSecuritiesPurchasedUnderAgreementsToResell
391125000 USD
CY2020Q1 us-gaap Payments For Securities Purchased Under Agreements To Resell
PaymentsForSecuritiesPurchasedUnderAgreementsToResell
0 USD
CY2021Q1 us-gaap Proceeds From Securities Purchased Under Agreements To Resell
ProceedsFromSecuritiesPurchasedUnderAgreementsToResell
391125000 USD
CY2020Q1 us-gaap Proceeds From Securities Purchased Under Agreements To Resell
ProceedsFromSecuritiesPurchasedUnderAgreementsToResell
0 USD
CY2021Q1 us-gaap Increase Decrease Cash Collateral From Counterparties
IncreaseDecreaseCashCollateralFromCounterparties
120426000 USD
CY2020Q1 us-gaap Increase Decrease Cash Collateral From Counterparties
IncreaseDecreaseCashCollateralFromCounterparties
115339000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
804170000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
8598930000 USD
CY2021Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
52960000 USD
CY2020Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
CY2021Q1 arr Proceeds From Securities Sold Under Agreements To Repurchase
ProceedsFromSecuritiesSoldUnderAgreementsToRepurchase
7044307000 USD
CY2020Q1 arr Proceeds From Securities Sold Under Agreements To Repurchase
ProceedsFromSecuritiesSoldUnderAgreementsToRepurchase
42459521000 USD
CY2021Q1 arr Payments For Securities Sold Under Agreements To Repurchase
PaymentsForSecuritiesSoldUnderAgreementsToRepurchase
7769582000 USD
CY2020Q1 arr Payments For Securities Sold Under Agreements To Repurchase
PaymentsForSecuritiesSoldUnderAgreementsToRepurchase
50348596000 USD
CY2021Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
20057000 USD
CY2020Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
30377000 USD
CY2021Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
CY2020Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
777000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-666685000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-8003418000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
158682000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
411066000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
171668000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
273166000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
330350000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
684232000 USD
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
4193000 USD
CY2020Q1 us-gaap Interest Paid Net
InterestPaidNet
139313000 USD
CY2021Q1 arr Noncash Investing And Financing Activities Receivable For Broker Dealers And Clearing Organizations
NoncashInvestingAndFinancingActivitiesReceivableForBrokerDealersAndClearingOrganizations
358670000 USD
CY2020Q1 arr Noncash Investing And Financing Activities Receivable For Broker Dealers And Clearing Organizations
NoncashInvestingAndFinancingActivitiesReceivableForBrokerDealersAndClearingOrganizations
688183000 USD
CY2021Q1 arr Noncash Investingand Financing Activities Payablesto Broker Dealers And Clearing Organizations
NoncashInvestingandFinancingActivitiesPayablestoBrokerDealersAndClearingOrganizations
295991000 USD
CY2020Q1 arr Noncash Investingand Financing Activities Payablesto Broker Dealers And Clearing Organizations
NoncashInvestingandFinancingActivitiesPayablestoBrokerDealersAndClearingOrganizations
470441000 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-34880000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-38143000 USD
CY2021Q1 us-gaap Nature Of Operations
NatureOfOperations
<div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Note 1 - Organization and Nature of Business Operations </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">    References to "we," "us," "our," or the "Company" are to ARMOUR Residential REIT, Inc. ("ARMOUR") and its subsidiaries. References to "ACM" are to ARMOUR Capital Management LP, a Delaware limited partnership. ARMOUR owns a 10.0% equity interest in BUCKLER Securities LLC ("BUCKLER"). BUCKLER is a Delaware limited liability company and a FINRA-regulated broker-dealer, controlled by ACM and certain executive officers of ARMOUR. Refer to the Glossary of Terms for definitions of capitalized terms and abbreviations used in this report. </span></div><div style="text-align:justify;text-indent:45pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">    ARMOUR is an externally managed Maryland corporation incorporated in 2008. The Company is managed by ACM, an investment advisor registered with the Securities and Exchange Commission (the "SEC"), (see </span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Note 9 - Commitments and Contingencies</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> and </span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Note 15 - Related Party Transactions</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">). We have elected to be taxed as a real estate investment trust ("REIT") under the Internal Revenue Code of 1986, as amended (the "Code"). Our qualification as a REIT depends on our ability to meet, on a continuing basis, various complex requirements under the Code relating to, among other things, the sources of our gross income, the composition and values of our assets, our distribution levels and the concentration of ownership of our capital stock. We believe that we are organized in conformity with the requirements for qualification as a REIT under the Code and our manner of operations enables us to meet the requirements for taxation as a REIT for federal income tax purposes. As a REIT, we will generally not be subject to federal income tax on the REIT taxable income that we currently distribute to our stockholders. If we fail to qualify as a REIT in any taxable year and do not qualify for certain statutory relief provisions, we will be subject to federal income tax at regular corporate rates. Even if we qualify as a REIT for U.S. federal income tax purposes, we may still be subject to some federal, state and local taxes on our income.</span></div>    At March 31, 2021 and December 31, 2020, we invested exclusively in mortgage backed securities ("MBS") issued or guaranteed by a United States ("U.S.") Government-sponsored entity ("GSE"), such as the Federal National Mortgage Association ("Fannie Mae"), the Federal Home Loan Mortgage Corporation ("Freddie Mac"), or a government agency such as Government National Mortgage Administration ("Ginnie Mae") (collectively, "Agency Securities"). Our Agency Securities consist primarily of fixed rate loans. The remaining are either backed by hybrid adjustable rate or adjustable rate loans. From time to time we may also invest in Credit Risk and Non-Agency Securities, Interest-Only Securities, U.S. Treasury Securities and money market instruments.
CY2021Q1 us-gaap Basis Of Accounting
BasisOfAccounting
<div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Note 2 - Basis of Presentation and Consolidation </span></div><div style="text-align:justify;text-indent:15.75pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">    The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States ("GAAP") for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X promulgated by the SEC. Accordingly, the condensed financial statements do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2021 are not necessarily indicative of the results that may be expected for the calendar year ending December 31, 2021. These unaudited consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto included in our annual report on Form 10-K for the year ended December 31, 2020.</span></div><div style="text-align:justify;text-indent:45pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">    The unaudited consolidated financial statements include the accounts of ARMOUR Residential REIT, Inc. and its subsidiaries. All intercompany accounts and transactions have been eliminated. The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates affecting the accompanying condensed consolidated financial statements include the valuation of MBS, including an assessment of the allowance for credit losses, and derivative instruments.</span></div>
CY2021Q1 us-gaap Use Of Estimates
UseOfEstimates
The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates affecting the accompanying condensed consolidated financial statements include the valuation of MBS, including an assessment of the allowance for credit losses, and derivative instruments.
CY2021Q1 us-gaap Revenue Recognition Interest
RevenueRecognitionInterest
<div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Revenue Recognition</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">    </span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interest income is earned and recognized on Agency Securities based on their unpaid principal amounts and their contractual terms. Recognition of interest income commences on the settlement date of the purchase transaction and continues through the settlement date of the sale transaction. Premiums and discounts associated with the purchase of Multi-Family MBS, which are generally not subject to prepayment, are amortized or accreted into interest income over the contractual lives of the securities using a level yield method. Premiums and discounts associated with the purchase of other Agency Securities are amortized or accreted into interest income over the actual lives of the securities, reflecting actual prepayments as they occur. Purchase and sale transactions (including TBA Agency Securities) are recorded on the trade date to the extent it is probable that we will take or make timely physical delivery of the related securities. Gains or losses </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">realized from sales of available for sale securities are reclassified into income from other comprehensive income and are determined using the specific identification method.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interest income on Credit Risk and Non-Agency Securities and Interest-Only Securities is recognized using the effective yield method over the life of the securities based on the future cash flows expected to be received. Future cash flow projections and related effective yields are determined for each security and updated quarterly. Impairment losses establish a new cost basis in the security for purposes of calculating effective yields, recognized when the fair value of a security is less than its cost basis and there has been an adverse change in the future cash flows expected to be received. Other changes in future cash flows expected to be received are recognized prospectively over the remaining life of the security. Interest income on U.S. Treasury Securities is recognized based on their unpaid principal amounts and their contractual terms. Recognition of interest income commences on the settlement date of the purchase transaction and continues through the settlement date of the sale transaction.</span></div>
CY2021Q1 us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Note 4 - Recent Accounting Pronouncements </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">    We consider the applicability and impact of all Accounting Standards Updates ("ASU") issued by the Financial Accounting Standards Board. We have not identified any ASUs that we deemed to be applicable or that are expected to have a significant impact on our consolidated financial statements when adopted.</span></div>
CY2021Q1 arr Trading Securities Quotes Received Numberof Dealers
TradingSecuritiesQuotesReceivedNumberofDealers
3 dealer
CY2021Q1 us-gaap Debt Securities
DebtSecurities
4318397000 USD
CY2020Q4 us-gaap Debt Securities
DebtSecurities
5178322000 USD
CY2020Q4 arr Investment In Securities Fair Value Asset Value
InvestmentInSecuritiesFairValueAssetValue
5178322000 USD
CY2021Q1 arr Investment In Securities Fair Value Asset Purchases
InvestmentInSecuritiesFairValueAssetPurchases
685904000 USD
CY2021Q1 arr Investment In Securities Fair Value Asset Sales
InvestmentInSecuritiesFairValueAssetSales
795148000 USD
CY2021Q1 arr Debt Securities Available For Sale Increase Decrease In Receivable For Unsettled Sales
DebtSecuritiesAvailableForSaleIncreaseDecreaseInReceivableForUnsettledSales
-358670000 USD
CY2021Q1 arr Investment In Securities Fair Value Asset Principal Repayments
InvestmentInSecuritiesFairValueAssetPrincipalRepayments
278722000 USD
CY2021Q1 arr Investment In Securities Fair Value Asset Gain Loss Included In Earnings
InvestmentInSecuritiesFairValueAssetGainLossIncludedInEarnings
-97494000 USD
CY2021Q1 arr Investment In Securities Fair Value Asset Amortization And Accretion Expense
InvestmentInSecuritiesFairValueAssetAmortizationAndAccretionExpense
15795000 USD
CY2021Q1 arr Investment In Securities Fair Value Asset Value
InvestmentInSecuritiesFairValueAssetValue
4318397000 USD
CY2021Q1 arr Investment Securities Percentof Portfolio
InvestmentSecuritiesPercentofPortfolio
1.0000
CY2019Q4 arr Investment In Securities Fair Value Asset Value
InvestmentInSecuritiesFairValueAssetValue
12825367000 USD
CY2020 arr Investment In Securities Fair Value Asset Purchases
InvestmentInSecuritiesFairValueAssetPurchases
10340353000 USD
CY2020 arr Investment In Securities Fair Value Asset Sales
InvestmentInSecuritiesFairValueAssetSales
16491693000 USD
CY2020 arr Investment In Securities Fair Value Asset Principal Repayments
InvestmentInSecuritiesFairValueAssetPrincipalRepayments
1262930000 USD
CY2020 arr Investment In Securities Fair Value Asset Gain Loss Included In Earnings
InvestmentInSecuritiesFairValueAssetGainLossIncludedInEarnings
-181206000 USD
CY2020 arr Investment In Securities Fair Value Asset Credit Loss Expense
InvestmentInSecuritiesFairValueAssetCreditLossExpense
1012000 USD
CY2020 arr Investment In Securities Fair Value Asset Amortization And Accretion Expense
InvestmentInSecuritiesFairValueAssetAmortizationAndAccretionExpense
50557000 USD
CY2020Q4 arr Investment In Securities Fair Value Asset Value
InvestmentInSecuritiesFairValueAssetValue
5178322000 USD
CY2020Q4 arr Investment Securities Percentof Portfolio
InvestmentSecuritiesPercentofPortfolio
1.0000
CY2021Q1 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Not Previously Recorded
DebtSecuritiesAvailableForSaleAllowanceForCreditLossNotPreviouslyRecorded
0 USD
CY2020Q1 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Not Previously Recorded
DebtSecuritiesAvailableForSaleAllowanceForCreditLossNotPreviouslyRecorded
1012000 USD
us-gaap Debt Securities Available For Sale Allowance For Credit Loss Not Previously Recorded
DebtSecuritiesAvailableForSaleAllowanceForCreditLossNotPreviouslyRecorded
0 USD
CY2021Q1 arr Debt Securities Availableforsale Principal Amount
DebtSecuritiesAvailableforsalePrincipalAmount
1562487000 USD
CY2021Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
1608516000 USD
CY2021Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
36000 USD
CY2021Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
136833000 USD
CY2021Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
1745313000 USD
CY2020Q4 arr Debt Securities Availableforsale Principal Amount
DebtSecuritiesAvailableforsalePrincipalAmount
1738906000 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
1791871000 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
44000 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
179075000 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
1970902000 USD
CY2021Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
7071000 USD
CY2021Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
36000 USD
CY2021Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
0 USD
CY2021Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
0 USD
CY2021Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
7071000 USD
CY2021Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
36000 USD
CY2020Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
8811000 USD
CY2020Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
44000 USD
CY2020Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
0 USD
CY2020Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
0 USD
CY2020Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
8811000 USD
CY2020Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
44000 USD
CY2021Q1 us-gaap Available For Sale Securities Debt Maturities Next Rolling Twelve Months Fair Value
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsFairValue
72000 USD
CY2021Q1 us-gaap Available For Sale Securities Debt Maturities Next Rolling Twelve Months Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsAmortizedCostBasis
72000 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Maturities Next Rolling Twelve Months Fair Value
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsFairValue
71000 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Maturities Next Rolling Twelve Months Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsAmortizedCostBasis
72000 USD
CY2021Q1 arr Availableforsale Securities Debt Maturities Rolling Year Two Through Three Fair Value
AvailableforsaleSecuritiesDebtMaturitiesRollingYearTwoThroughThreeFairValue
21717000 USD
CY2021Q1 arr Availableforsale Securities Debt Maturities Rolling Year Two Through Three Amortized Cost Basis
AvailableforsaleSecuritiesDebtMaturitiesRollingYearTwoThroughThreeAmortizedCostBasis
20883000 USD
CY2020Q4 arr Availableforsale Securities Debt Maturities Rolling Year Two Through Three Fair Value
AvailableforsaleSecuritiesDebtMaturitiesRollingYearTwoThroughThreeFairValue
548352000 USD
CY2020Q4 arr Availableforsale Securities Debt Maturities Rolling Year Two Through Three Amortized Cost Basis
AvailableforsaleSecuritiesDebtMaturitiesRollingYearTwoThroughThreeAmortizedCostBasis
520657000 USD
CY2021Q1 arr Availableforsale Securities Debt Maturities Rolling Year Four Through Five Fair Value
AvailableforsaleSecuritiesDebtMaturitiesRollingYearFourThroughFiveFairValue
655870000 USD
CY2021Q1 arr Availableforsale Securities Debt Maturities Rolling Year Four Through Five Amortized Cost Basis
AvailableforsaleSecuritiesDebtMaturitiesRollingYearFourThroughFiveAmortizedCostBasis
622694000 USD
CY2020Q4 arr Availableforsale Securities Debt Maturities Rolling Year Four Through Five Fair Value
AvailableforsaleSecuritiesDebtMaturitiesRollingYearFourThroughFiveFairValue
282739000 USD
CY2020Q4 arr Availableforsale Securities Debt Maturities Rolling Year Four Through Five Amortized Cost Basis
AvailableforsaleSecuritiesDebtMaturitiesRollingYearFourThroughFiveAmortizedCostBasis
269716000 USD
CY2021Q1 arr Availableforsale Securities Debt Maturities Rolling After Year Five Fair Value
AvailableforsaleSecuritiesDebtMaturitiesRollingAfterYearFiveFairValue
1067654000 USD
CY2021Q1 arr Availableforsale Securities Debt Maturities Rolling After Year Five Amortized Cost Basis
AvailableforsaleSecuritiesDebtMaturitiesRollingAfterYearFiveAmortizedCostBasis
964867000 USD
CY2020Q4 arr Availableforsale Securities Debt Maturities Rolling After Year Five Fair Value
AvailableforsaleSecuritiesDebtMaturitiesRollingAfterYearFiveFairValue
1139740000 USD
CY2020Q4 arr Availableforsale Securities Debt Maturities Rolling After Year Five Amortized Cost Basis
AvailableforsaleSecuritiesDebtMaturitiesRollingAfterYearFiveAmortizedCostBasis
1001426000 USD
CY2021Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
1745313000 USD
CY2021Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
1608516000 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
1970902000 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
1791871000 USD
CY2021Q1 arr Trading Securities Debt Principal Amount
TradingSecuritiesDebtPrincipalAmount
2466913000 USD
CY2021Q1 us-gaap Trading Securities Debt Amortized Cost
TradingSecuritiesDebtAmortizedCost
2611775000 USD
CY2021Q1 arr Debt Securities Trading Accumulated Gross Unrealized Loss Before Tax
DebtSecuritiesTradingAccumulatedGrossUnrealizedLossBeforeTax
43427000 USD
CY2021Q1 arr Debt Securities Trading Accumulated Gross Unrealized Gain Before Tax
DebtSecuritiesTradingAccumulatedGrossUnrealizedGainBeforeTax
4736000 USD
CY2021Q1 us-gaap Trading Securities Debt
TradingSecuritiesDebt
2573084000 USD
CY2020Q4 arr Trading Securities Debt Principal Amount
TradingSecuritiesDebtPrincipalAmount
2991482000 USD
CY2020Q4 us-gaap Trading Securities Debt Amortized Cost
TradingSecuritiesDebtAmortizedCost
3186729000 USD
CY2020Q4 arr Debt Securities Trading Accumulated Gross Unrealized Loss Before Tax
DebtSecuritiesTradingAccumulatedGrossUnrealizedLossBeforeTax
1871000 USD
CY2020Q4 arr Debt Securities Trading Accumulated Gross Unrealized Gain Before Tax
DebtSecuritiesTradingAccumulatedGrossUnrealizedGainBeforeTax
22562000 USD
CY2020Q4 us-gaap Trading Securities Debt
TradingSecuritiesDebt
3207420000 USD
CY2021Q1 arr Trading Securities Debt Maturities Next Rolling Twelve Months Fair Value
TradingSecuritiesDebtMaturitiesNextRollingTwelveMonthsFairValue
0 USD
CY2021Q1 arr Trading Securities Debt Maturities Next Rolling Twelve Months Amortized Cost Basis
TradingSecuritiesDebtMaturitiesNextRollingTwelveMonthsAmortizedCostBasis
0 USD
CY2020Q4 arr Trading Securities Debt Maturities Next Rolling Twelve Months Fair Value
TradingSecuritiesDebtMaturitiesNextRollingTwelveMonthsFairValue
0 USD
CY2020Q4 arr Trading Securities Debt Maturities Next Rolling Twelve Months Amortized Cost Basis
TradingSecuritiesDebtMaturitiesNextRollingTwelveMonthsAmortizedCostBasis
0 USD
CY2021Q1 arr Trading Securities Debt Maturities Rolling Year Twoand Three Fair Value
TradingSecuritiesDebtMaturitiesRollingYearTwoandThreeFairValue
2028000 USD
CY2021Q1 arr Trading Securities Debt Maturities Rolling Year Twoand Three Amortized Cost Basis
TradingSecuritiesDebtMaturitiesRollingYearTwoandThreeAmortizedCostBasis
2035000 USD
CY2020Q4 arr Trading Securities Debt Maturities Rolling Year Twoand Three Fair Value
TradingSecuritiesDebtMaturitiesRollingYearTwoandThreeFairValue
649425000 USD
CY2020Q4 arr Trading Securities Debt Maturities Rolling Year Twoand Three Amortized Cost Basis
TradingSecuritiesDebtMaturitiesRollingYearTwoandThreeAmortizedCostBasis
650328000 USD
CY2021Q1 arr Trading Securities Debt Maturities Rolling Year Fourand Five Fair Value
TradingSecuritiesDebtMaturitiesRollingYearFourandFiveFairValue
719487000 USD
CY2021Q1 arr Trading Securities Debt Maturities Rolling Year Four Through Five Amortized Cost Basis
TradingSecuritiesDebtMaturitiesRollingYearFourThroughFiveAmortizedCostBasis
716320000 USD
CY2020Q4 arr Trading Securities Debt Maturities Rolling Year Fourand Five Fair Value
TradingSecuritiesDebtMaturitiesRollingYearFourandFiveFairValue
1522509000 USD
CY2020Q4 arr Trading Securities Debt Maturities Rolling Year Four Through Five Amortized Cost Basis
TradingSecuritiesDebtMaturitiesRollingYearFourThroughFiveAmortizedCostBasis
1506035000 USD
CY2021Q1 arr Trading Securities Debt Maturities Rolling After Year Five Fair Value
TradingSecuritiesDebtMaturitiesRollingAfterYearFiveFairValue
1851569000 USD
CY2021Q1 arr Trading Securities Debt Maturities Rolling After Year Five Amortized Cost Basis
TradingSecuritiesDebtMaturitiesRollingAfterYearFiveAmortizedCostBasis
1893420000 USD
CY2020Q4 arr Trading Securities Debt Maturities Rolling After Year Five Fair Value
TradingSecuritiesDebtMaturitiesRollingAfterYearFiveFairValue
1035486000 USD
CY2020Q4 arr Trading Securities Debt Maturities Rolling After Year Five Amortized Cost Basis
TradingSecuritiesDebtMaturitiesRollingAfterYearFiveAmortizedCostBasis
1030366000 USD
CY2021Q1 us-gaap Trading Securities Debt
TradingSecuritiesDebt
2573084000 USD
CY2021Q1 us-gaap Trading Securities Debt Amortized Cost
TradingSecuritiesDebtAmortizedCost
2611775000 USD
CY2020Q4 us-gaap Trading Securities Debt
TradingSecuritiesDebt
3207420000 USD
CY2020Q4 us-gaap Trading Securities Debt Amortized Cost
TradingSecuritiesDebtAmortizedCost
3186729000 USD
CY2021Q1 arr Repurchase Agreements Numberof Counterpartieswith Master Repurchase Agreements
RepurchaseAgreementsNumberofCounterpartieswithMasterRepurchaseAgreements
33 counterparty
CY2021Q1 us-gaap Assets Sold Under Agreements To Repurchase Carrying Amounts
AssetsSoldUnderAgreementsToRepurchaseCarryingAmounts
3810790000 USD
CY2021Q1 arr Repurchase Agreements Number Of Counterpartieswith Outstanding Borrowings
RepurchaseAgreementsNumberOfCounterpartieswithOutstandingBorrowings
18 counterparty
CY2020Q4 us-gaap Assets Sold Under Agreements To Repurchase Carrying Amounts
AssetsSoldUnderAgreementsToRepurchaseCarryingAmounts
4536065000 USD
CY2020Q4 arr Repurchase Agreements Number Of Counterpartieswith Outstanding Borrowings
RepurchaseAgreementsNumberOfCounterpartieswithOutstandingBorrowings
18 counterparty
CY2021Q1 us-gaap Schedule Of Repurchase Agreements
ScheduleOfRepurchaseAgreements
The following table represents the contractual repricing regarding our repurchase agreements to finance MBS purchases at March 31, 2021 and December 31, 2020. No amounts below are subject to offsetting. Our repurchase agreements require excess collateral, known as a “haircut.” At March 31, 2021, the average haircut percentage was 3.52% compared to 3.13% at December 31, 2020. The haircut for our repurchase agreements vary by counterparty and therefore, the changes in the average haircut percentage will vary with the changes in our counterparty repurchase agreement balances. <table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"/><td style="width:49.197%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.544%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.144%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.544%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.715%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.544%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.312%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#dce6f1;padding:0 1pt"/><td colspan="3" style="background-color:#dce6f1;padding:0 1pt"/><td colspan="3" style="background-color:#dce6f1;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Balance</span></td><td colspan="3" style="background-color:#dce6f1;padding:0 1pt"/><td colspan="3" style="background-color:#dce6f1;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Weighted Average Contractual Rate</span></td><td colspan="3" style="background-color:#dce6f1;padding:0 1pt"/><td colspan="3" style="background-color:#dce6f1;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Weighted Average Maturity in days</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">March 31, 2021</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#dce6f1;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Agency Securities</span></td><td colspan="3" style="background-color:#dce6f1;padding:0 1pt"/><td colspan="3" style="background-color:#dce6f1;padding:0 1pt"/><td colspan="3" style="background-color:#dce6f1;padding:0 1pt"/><td colspan="3" style="background-color:#dce6f1;padding:0 1pt"/><td colspan="3" style="background-color:#dce6f1;padding:0 1pt"/><td colspan="3" style="background-color:#dce6f1;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">≤ 30 days</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,470,940 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.18 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#dce6f1;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&gt; 30 days to ≤ 60 days</span></td><td colspan="3" style="background-color:#dce6f1;padding:0 1pt"/><td colspan="2" style="background-color:#dce6f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">89,304 </span></td><td style="background-color:#dce6f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#dce6f1;padding:0 1pt"/><td colspan="2" style="background-color:#dce6f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.17 </span></td><td style="background-color:#dce6f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#dce6f1;padding:0 1pt"/><td colspan="3" style="background-color:#dce6f1;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">50</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&gt; 60 days</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">250,546 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.19 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">97</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#dce6f1;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total or Weighted Average</span></td><td colspan="3" style="background-color:#dce6f1;padding:0 1pt"/><td style="background-color:#dce6f1;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dce6f1;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,810,790 </span></td><td style="background-color:#dce6f1;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#dce6f1;padding:0 1pt"/><td colspan="2" style="background-color:#dce6f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.18 </span></td><td style="background-color:#dce6f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#dce6f1;padding:0 1pt"/><td colspan="3" style="background-color:#dce6f1;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">18</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr style="height:11pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000000;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#dce6f1;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31, 2020</span></td><td colspan="3" style="background-color:#dce6f1;padding:0 1pt"/><td colspan="3" style="background-color:#dce6f1;padding:0 1pt"/><td colspan="3" style="background-color:#dce6f1;padding:0 1pt"/><td colspan="3" style="background-color:#dce6f1;padding:0 1pt"/><td colspan="3" style="background-color:#dce6f1;padding:0 1pt"/><td colspan="3" style="background-color:#dce6f1;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Agency Securities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#dce6f1;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">≤ 30 days</span></td><td colspan="3" style="background-color:#dce6f1;padding:0 1pt"/><td style="background-color:#dce6f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dce6f1;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,618,255 </span></td><td style="background-color:#dce6f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#dce6f1;padding:0 1pt"/><td colspan="2" style="background-color:#dce6f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.23 </span></td><td style="background-color:#dce6f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#dce6f1;padding:0 1pt"/><td colspan="3" style="background-color:#dce6f1;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&gt; 30 days to ≤ 60 days</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">917,810 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.23 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">45</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#dce6f1;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total or Weighted Average</span></td><td colspan="3" style="background-color:#dce6f1;padding:0 1pt"/><td style="background-color:#dce6f1;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dce6f1;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,536,065 </span></td><td style="background-color:#dce6f1;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#dce6f1;padding:0 1pt"/><td colspan="2" style="background-color:#dce6f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.23 </span></td><td style="background-color:#dce6f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#dce6f1;padding:0 1pt"/><td colspan="3" style="background-color:#dce6f1;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">21</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table>
CY2021Q1 arr Haircuton Repurchase Agreements
HaircutonRepurchaseAgreements
0.0352
CY2020Q4 arr Haircuton Repurchase Agreements
HaircutonRepurchaseAgreements
0.0313
CY2021Q1 us-gaap Ratio Of Indebtedness To Net Capital1
RatioOfIndebtednessToNetCapital1
12
CY2021Q1 us-gaap Ratio Of Indebtedness To Net Capital1
RatioOfIndebtednessToNetCapital1
12
CY2021Q1 us-gaap Derivative Assets
DerivativeAssets
216297000 USD
CY2021Q1 us-gaap Derivative Asset Not Offset Policy Election Deduction
DerivativeAssetNotOffsetPolicyElectionDeduction
14000 USD
CY2021Q1 us-gaap Derivative Collateral Obligation To Return Cash
DerivativeCollateralObligationToReturnCash
159641000 USD
CY2021Q1 us-gaap Derivative Asset Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
DerivativeAssetFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
56642000 USD
CY2020Q4 us-gaap Derivative Assets
DerivativeAssets
54686000 USD
CY2020Q4 us-gaap Derivative Asset Not Offset Policy Election Deduction
DerivativeAssetNotOffsetPolicyElectionDeduction
1217000 USD
CY2020Q4 us-gaap Derivative Collateral Obligation To Return Cash
DerivativeCollateralObligationToReturnCash
41715000 USD
CY2020Q4 us-gaap Derivative Asset Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
DerivativeAssetFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
11754000 USD
CY2021Q1 us-gaap Derivative Liabilities
DerivativeLiabilities
45015000 USD
CY2021Q1 us-gaap Derivative Liability Not Offset Policy Election Deduction
DerivativeLiabilityNotOffsetPolicyElectionDeduction
14000 USD
CY2021Q1 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
44906000 USD
CY2021Q1 us-gaap Derivative Liability Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
DerivativeLiabilityFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
95000 USD
CY2020Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
1217000 USD
CY2020Q4 us-gaap Derivative Liability Not Offset Policy Election Deduction
DerivativeLiabilityNotOffsetPolicyElectionDeduction
1217000 USD
CY2020Q4 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
0 USD
CY2020Q4 us-gaap Derivative Liability Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
DerivativeLiabilityFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
0 USD
CY2021Q1 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
118620000 USD
CY2020Q1 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-369035000 USD
CY2021Q1 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
5760000000 USD
CY2021Q1 us-gaap Derivative Average Remaining Maturity1
DerivativeAverageRemainingMaturity1
P81M
CY2021Q1 arr Derivative Weighted Average Interest Rate
DerivativeWeightedAverageInterestRate
0.0055
CY2020Q4 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
5337000000 USD
CY2020 us-gaap Derivative Average Remaining Maturity1
DerivativeAverageRemainingMaturity1
P58M
CY2020Q4 arr Derivative Weighted Average Interest Rate
DerivativeWeightedAverageInterestRate
0.0024
CY2021Q1 arr Related Party Transaction Management Agreement Gross Equity Raised
RelatedPartyTransactionManagementAgreementGrossEquityRaised
3026269000 USD
CY2020Q1 arr Related Party Transaction Management Agreement Gross Equity Raised
RelatedPartyTransactionManagementAgreementGrossEquityRaised
2887586000 USD
CY2021Q1 arr Fee Waiver Adjustment First Quarter
FeeWaiverAdjustmentFirstQuarter
2400000 USD
CY2021Q1 arr Fee Waiver Adjustment Every Month Thereafter
FeeWaiverAdjustmentEveryMonthThereafter
800000 USD
CY2021Q1 us-gaap Investment Company Contractual Fee Waived
InvestmentCompanyContractualFeeWaived
2400000 USD
CY2020Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.17
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
938304000 USD
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
1436707000 USD
CY2021Q1 us-gaap Dividends Common Stock
DividendsCommonStock
20057000 USD
CY2020Q1 us-gaap Dividends Common Stock
DividendsCommonStock
30377000 USD
CY2021Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1199000 USD
CY2020Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1001000 USD
CY2021Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
0 USD
CY2020Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
777000 USD
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
71327000 USD
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-406659000 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-42234000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-130456000 USD
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
1027186000 USD
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
786250000 USD
CY2020Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.17
CY2020Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.17
CY2020Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2021Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2021Q1 arr Preferred Stock Undesignated Shares Authorized
PreferredStockUndesignatedSharesAuthorized
31617000 shares
CY2021Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
125000000 shares
CY2020Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
125000000 shares
CY2020Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2021Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2021Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
69748000 shares
CY2021Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
69748000 shares
CY2020Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
65290000 shares
CY2020Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
65290000 shares
CY2021Q1 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
8210000 shares
CY2020Q4 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
8210000 shares
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
71327000 USD
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-406659000 USD
CY2021Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
2486000 USD
CY2020Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
2827000 USD
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
68841000 USD
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-409486000 USD
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
65964000 shares
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
58884000 shares
CY2021Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1054000 shares
CY2020Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
67018000 shares
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
58884000 shares
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
650000 shares
CY2021Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
29093000 USD
CY2020Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-537115000 USD
CY2021Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
2486000 USD
CY2020Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
2827000 USD
CY2021Q1 arr Comprehensive Income Loss Availableto Common Stockholders
ComprehensiveIncomeLossAvailabletoCommonStockholders
26607000 USD
CY2020Q1 arr Comprehensive Income Loss Availableto Common Stockholders
ComprehensiveIncomeLossAvailabletoCommonStockholders
-539942000 USD
CY2021Q1 arr Comprehensive Income Loss Availableto Common Stockholders Per Share Basic
ComprehensiveIncomeLossAvailabletoCommonStockholdersPerShareBasic
0.40
CY2020Q1 arr Comprehensive Income Loss Availableto Common Stockholders Per Share Basic
ComprehensiveIncomeLossAvailabletoCommonStockholdersPerShareBasic
-9.17
CY2021Q1 arr Comprehensive Income Loss Availableto Common Stockholders Per Share Diluted
ComprehensiveIncomeLossAvailabletoCommonStockholdersPerShareDiluted
0.40
CY2020Q1 arr Comprehensive Income Loss Availableto Common Stockholders Per Share Diluted
ComprehensiveIncomeLossAvailabletoCommonStockholdersPerShareDiluted
-9.17
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
65964000 shares
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
58884000 shares
CY2021Q1 arr Incremental Common Shares Attributableto Dilutive Effectof Sharebased Payment Arrangements Comprehensive Income Loss
IncrementalCommonSharesAttributabletoDilutiveEffectofSharebasedPaymentArrangementsComprehensiveIncomeLoss
1054000 shares
CY2020Q1 arr Incremental Common Shares Attributableto Dilutive Effectof Sharebased Payment Arrangements Comprehensive Income Loss
IncrementalCommonSharesAttributabletoDilutiveEffectofSharebasedPaymentArrangementsComprehensiveIncomeLoss
0 shares
CY2021Q1 arr Weighted Average Numberof Shares Outstanding Diluted Comprehensive Income Loss
WeightedAverageNumberofSharesOutstandingDilutedComprehensiveIncomeLoss
67018000 shares
CY2020Q1 arr Weighted Average Numberof Shares Outstanding Diluted Comprehensive Income Loss
WeightedAverageNumberofSharesOutstandingDilutedComprehensiveIncomeLoss
58884000 shares
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
650000 shares
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
71327000 USD
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-406659000 USD
CY2021Q1 arr Effective Taxable Income Reconciliation Reversalof Income
EffectiveTaxableIncomeReconciliationReversalofIncome
7000 USD
CY2020Q1 arr Effective Taxable Income Reconciliation Reversalof Income
EffectiveTaxableIncomeReconciliationReversalofIncome
-63000 USD
CY2021Q1 arr Effective Taxable Income Reconciliation Premium Amortization Expense
EffectiveTaxableIncomeReconciliationPremiumAmortizationExpense
48000 USD
CY2020Q1 arr Effective Taxable Income Reconciliation Premium Amortization Expense
EffectiveTaxableIncomeReconciliationPremiumAmortizationExpense
0 USD
CY2021Q1 us-gaap Debt Securities Trading Gain Loss
DebtSecuritiesTradingGainLoss
-62586000 USD
CY2020Q1 us-gaap Debt Securities Trading Gain Loss
DebtSecuritiesTradingGainLoss
0 USD
CY2021Q1 arr Effective Income Tax Rate Reconciliation Net Bookto Tax Differenceson Credit Riskand Non Agency Securities
EffectiveIncomeTaxRateReconciliationNetBooktoTaxDifferencesonCreditRiskandNonAgencySecurities
0 USD
CY2020Q1 arr Effective Income Tax Rate Reconciliation Net Bookto Tax Differenceson Credit Riskand Non Agency Securities
EffectiveIncomeTaxRateReconciliationNetBooktoTaxDifferencesonCreditRiskandNonAgencySecurities
182247000 USD
CY2021Q1 arr Effective Taxable Income Reconciliation Trading Securities Us Treasury Securities
EffectiveTaxableIncomeReconciliationTradingSecuritiesUSTreasurySecurities
-28000 USD
CY2020Q1 arr Effective Taxable Income Reconciliation Trading Securities Us Treasury Securities
EffectiveTaxableIncomeReconciliationTradingSecuritiesUSTreasurySecurities
21771000 USD
CY2021Q1 arr Effective Taxable Income Reconciliation Changes In Derivatives
EffectiveTaxableIncomeReconciliationChangesInDerivatives
122195000 USD
CY2020Q1 arr Effective Taxable Income Reconciliation Changes In Derivatives
EffectiveTaxableIncomeReconciliationChangesInDerivatives
-363265000 USD
CY2021Q1 arr Effective Taxable Income Reconciliation Credit Loss Expense Amount
EffectiveTaxableIncomeReconciliationCreditLossExpenseAmount
0 USD
CY2020Q1 arr Effective Taxable Income Reconciliation Credit Loss Expense Amount
EffectiveTaxableIncomeReconciliationCreditLossExpenseAmount
1012000 USD
CY2021Q1 arr Effective Taxable Income Reconciliation Gains Losseson Availableforsale Securities
EffectiveTaxableIncomeReconciliationGainsLossesonAvailableforsaleSecurities
-7354000 USD
CY2020Q1 arr Effective Taxable Income Reconciliation Gains Losseson Availableforsale Securities
EffectiveTaxableIncomeReconciliationGainsLossesonAvailableforsaleSecurities
-93325000 USD
CY2021Q1 arr Effective Taxable Income Reconciliation Amortizationof Financing Costsand Discounts
EffectiveTaxableIncomeReconciliationAmortizationofFinancingCostsandDiscounts
41867000 USD
CY2020Q1 arr Effective Taxable Income Reconciliation Amortizationof Financing Costsand Discounts
EffectiveTaxableIncomeReconciliationAmortizationofFinancingCostsandDiscounts
19874000 USD
CY2021Q1 arr Effective Taxable Income Reconciliation Preferred Stock Called For Redemption
EffectiveTaxableIncomeReconciliationPreferredStockCalledForRedemption
0 USD
CY2020Q1 arr Effective Taxable Income Reconciliation Preferred Stock Called For Redemption
EffectiveTaxableIncomeReconciliationPreferredStockCalledForRedemption
-1375000 USD
CY2021Q1 arr Effective Taxable Income Reconciliation Other Adjustments
EffectiveTaxableIncomeReconciliationOtherAdjustments
417000 USD
CY2020Q1 arr Effective Taxable Income Reconciliation Other Adjustments
EffectiveTaxableIncomeReconciliationOtherAdjustments
4000 USD
CY2021Q1 arr Estimated Reit Taxable Income
EstimatedREITTaxableIncome
-37113000 USD
CY2020Q1 arr Estimated Reit Taxable Income
EstimatedREITTaxableIncome
6337000 USD
CY2021Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
91961000 USD
CY2021Q1 arr Aggregate Tax Basis Stockholders Equityin Excessof Assetsand Liabilities
AggregateTaxBasisStockholdersEquityinExcessofAssetsandLiabilities
264192000 USD
CY2021Q1 arr Aggregate Tax Basis Stockholders Equityin Excessof Assetsand Liabilities Per Share
AggregateTaxBasisStockholdersEquityinExcessofAssetsandLiabilitiesPerShare
3.79
CY2021Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
69748000 shares
CY2021Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
22543000 USD
CY2020Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
34579000 USD
CY2021Q1 arr Estimated Reit Taxable Income
EstimatedREITTaxableIncome
-37113000 USD
CY2020Q1 arr Estimated Reit Taxable Income
EstimatedREITTaxableIncome
6337000 USD
CY2021Q1 arr Fee Waiver Adjustment First Quarter
FeeWaiverAdjustmentFirstQuarter
2400000 USD
CY2021Q1 arr Fee Waiver Adjustment Every Month Thereafter
FeeWaiverAdjustmentEveryMonthThereafter
800000 USD
CY2021Q1 arr Related Party Management Fees
RelatedPartyManagementFees
7428000 USD
CY2020Q1 arr Related Party Management Fees
RelatedPartyManagementFees
7444000 USD
CY2021Q1 us-gaap Investment Company Contractual Fee Waived
InvestmentCompanyContractualFeeWaived
2400000 USD
CY2020Q1 us-gaap Investment Company Contractual Fee Waived
InvestmentCompanyContractualFeeWaived
0 USD
CY2021Q1 us-gaap Management Fee Expense
ManagementFeeExpense
5028000 USD
CY2020Q1 us-gaap Management Fee Expense
ManagementFeeExpense
7444000 USD
CY2019Q1 arr Numberof Loan Agreementswith Related Party
NumberofLoanAgreementswithRelatedParty
1 loan

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