2020 Q4 Form 10-Q Financial Statement

#000156067220000053 Filed on November 09, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q3
Revenue $6.170M $7.780M $10.49M
YoY Change -28.34% -25.83% -20.35%
Cost Of Revenue $1.720M $1.810M $9.750M
YoY Change -78.82% -81.44% 2.74%
Gross Profit $4.460M $5.970M $740.0K
YoY Change 810.2% 706.76% -79.89%
Gross Profit Margin 72.29% 76.74% 7.05%
Selling, General & Admin $80.00K $80.00K $70.00K
YoY Change 14.29% 14.29% 0.0%
% of Gross Profit 1.79% 1.34% 9.46%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $1.400M $1.406M $1.345M
YoY Change 9.8% 4.54% 0.98%
Operating Profit $3.060M $4.564M -$605.0K
YoY Change -489.81% -854.38% -125.77%
Interest Expense $3.340M $2.570M $3.410M
YoY Change -65.24% -24.63% -243.88%
% of Operating Profit 109.15% 56.31%
Other Income/Expense, Net $318.0K $336.0K $341.0K
YoY Change -0.63% -1.47% 20.49%
Pretax Income $7.390M $8.120M $3.730M
YoY Change -23.89% 117.69% 292.63%
Income Tax
% Of Pretax Income
Net Earnings $7.394M $8.118M $3.729M
YoY Change -23.82% 117.7% 294.19%
Net Earnings / Revenue 119.84% 104.34% 35.55%
Basic Earnings Per Share $0.60 $0.66 $0.30
Diluted Earnings Per Share $598.9K $659.1K $299.4K
COMMON SHARES
Basic Shares Outstanding 12.33M shares 12.32M shares 12.46M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $58.20M $61.20M $50.20M
YoY Change 64.41% 21.91% 22.44%
Cash & Equivalents $58.17M $61.19M $50.19M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $0.00 $7.200M $123.6M
Other Receivables $51.90M $54.10M $61.90M
Total Short-Term Assets $110.1M $122.5M $235.7M
YoY Change 36.77% -48.03% 86.62%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.082B $1.119B $1.395B
YoY Change -22.83% -19.77% -11.51%
Other Assets
YoY Change
Total Long-Term Assets $1.085B $1.141B $1.439B
YoY Change -22.99% -20.69% -11.55%
TOTAL ASSETS
Total Short-Term Assets $110.1M $122.5M $235.7M
Total Long-Term Assets $1.085B $1.141B $1.439B
Total Assets $1.195B $1.264B $1.674B
YoY Change -19.76% -24.54% -4.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $0.00 $5.300M $114.7M
YoY Change -100.0% -95.38% 214.25%
Accrued Expenses $1.400M $1.500M $5.100M
YoY Change -67.44% -70.59% 2.0%
Deferred Revenue
YoY Change
Short-Term Debt $1.015B $1.062B $1.338B
YoY Change -21.68% -20.66% -10.84%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.022B $1.093B $1.500B
YoY Change -22.96% -27.13% -5.19%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $6.600M $7.900M $19.90M
YoY Change 230.0% -60.3% 6533.33%
Total Long-Term Liabilities $6.600M $7.900M $19.90M
YoY Change 230.0% -60.3% 6533.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.022B $1.093B $1.500B
Total Long-Term Liabilities $6.600M $7.900M $19.90M
Total Liabilities $1.028B $1.101B $1.520B
YoY Change -22.58% -27.55% -3.96%
SHAREHOLDERS EQUITY
Retained Earnings -$63.34M -$67.27M -$75.86M
YoY Change -9.05% -11.31% 20.67%
Common Stock $123.0K $123.0K $124.0K
YoY Change -0.81% -0.81% -2.36%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $166.4M $162.4M $154.6M
YoY Change
Total Liabilities & Shareholders Equity $1.195B $1.264B $1.674B
YoY Change -19.76% -24.54% -4.47%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income $7.394M $8.118M $3.729M
YoY Change -23.82% 117.7% 294.19%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $7.690M $7.570M $3.920M
YoY Change 72.04% 93.11% -42.18%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $42.51M -$129.9M $124.2M
YoY Change 49.89% -204.58% 233.36%
Cash From Investing Activities $42.51M -$129.9M $124.2M
YoY Change 49.89% -204.58% 233.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -53.22M 132.6M -119.4M
YoY Change 11.67% -211.02% 168.87%
NET CHANGE
Cash From Operating Activities 7.690M 7.570M 3.920M
Cash From Investing Activities 42.51M -129.9M 124.2M
Cash From Financing Activities -53.22M 132.6M -119.4M
Net Change In Cash -3.020M 10.26M 8.700M
YoY Change -79.64% 17.93% -2389.47%
FREE CASH FLOW
Cash From Operating Activities $7.690M $7.570M $3.920M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CY2020Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.28
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.84
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.90
us-gaap Net Income Loss
NetIncomeLoss
12718000 USD
us-gaap Net Income Loss
NetIncomeLoss
12550000 USD
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
11255000 USD
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
1308000 USD
us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
17883000 USD
us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
45540000 USD
earn Netrealizedgainslossesonfinancialderivatives
Netrealizedgainslossesonfinancialderivatives
-15599000 USD
earn Netrealizedgainslossesonfinancialderivatives
Netrealizedgainslossesonfinancialderivatives
-22723000 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-8293000 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-14761000 USD
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-11131000 USD
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-10065000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
178000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
161000 USD
us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-454000 USD
us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-480000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-224000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
96000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
489000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-157000 USD
earn Increasedecreaseininterestpayable
Increasedecreaseininterestpayable
-3274000 USD
earn Increasedecreaseininterestpayable
Increasedecreaseininterestpayable
-581000 USD
earn Increase Decrease In Management Fee Payable
IncreaseDecreaseInManagementFeePayable
6000 USD
earn Increase Decrease In Management Fee Payable
IncreaseDecreaseInManagementFeePayable
3000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
16680000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
13061000 USD
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
855117000 USD
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
1308549000 USD
us-gaap Proceeds From Sale Of Other Investments
ProceedsFromSaleOfOtherInvestments
950772000 USD
us-gaap Proceeds From Sale Of Other Investments
ProceedsFromSaleOfOtherInvestments
1400018000 USD
earn Principal Repayments Of Securities
PrincipalRepaymentsOfSecurities
192149000 USD
earn Principal Repayments Of Securities
PrincipalRepaymentsOfSecurities
146230000 USD
us-gaap Investment Sold Not Yet Purchased Sale Proceeds
InvestmentSoldNotYetPurchasedSaleProceeds
245699000 USD
us-gaap Investment Sold Not Yet Purchased Sale Proceeds
InvestmentSoldNotYetPurchasedSaleProceeds
513084000 USD
earn Repurchaseofinvestmentssoldshort
Repurchaseofinvestmentssoldshort
230529000 USD
earn Repurchaseofinvestmentssoldshort
Repurchaseofinvestmentssoldshort
476800000 USD
us-gaap Proceeds From Derivative Instrument Investing Activities
ProceedsFromDerivativeInstrumentInvestingActivities
18570000 USD
us-gaap Proceeds From Derivative Instrument Investing Activities
ProceedsFromDerivativeInstrumentInvestingActivities
13928000 USD
us-gaap Payments For Derivative Instrument Investing Activities
PaymentsForDerivativeInstrumentInvestingActivities
34404000 USD
us-gaap Payments For Derivative Instrument Investing Activities
PaymentsForDerivativeInstrumentInvestingActivities
36634000 USD
us-gaap Payments For Securities Purchased Under Agreements To Resell
PaymentsForSecuritiesPurchasedUnderAgreementsToResell
4302533000 USD
us-gaap Payments For Securities Purchased Under Agreements To Resell
PaymentsForSecuritiesPurchasedUnderAgreementsToResell
5158083000 USD
us-gaap Proceeds From Securities Purchased Under Agreements To Resell
ProceedsFromSecuritiesPurchasedUnderAgreementsToResell
4284605000 USD
us-gaap Proceeds From Securities Purchased Under Agreements To Resell
ProceedsFromSecuritiesPurchasedUnderAgreementsToResell
5115454000 USD
earn Duefrombrokersnetinvestingactivities
Duefrombrokersnetinvestingactivities
8305000 USD
earn Duefrombrokersnetinvestingactivities
Duefrombrokersnetinvestingactivities
14969000 USD
earn Duetobrokersnetinvestingactivities
Duetobrokersnetinvestingactivities
643000 USD
earn Duetobrokersnetinvestingactivities
Duetobrokersnetinvestingactivities
-182000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
261550000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
193497000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
986000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
747000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
10387000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
11982000 USD
earn Borrowingsunderrepurchaseagreements
Borrowingsunderrepurchaseagreements
1932531000 USD
earn Borrowingsunderrepurchaseagreements
Borrowingsunderrepurchaseagreements
1256876000 USD
earn Repaymentsofrepurchaseagreements
Repaymentsofrepurchaseagreements
2167163000 USD
earn Repaymentsofrepurchaseagreements
Repaymentsofrepurchaseagreements
1400453000 USD
earn Duefrombrokersnetfinancingactivities
Duefrombrokersnetfinancingactivities
6383000 USD
earn Duefrombrokersnetfinancingactivities
Duefrombrokersnetfinancingactivities
17723000 USD
earn Duetobrokersnetfinancingactivities
Duetobrokersnetfinancingactivities
0 USD
earn Duetobrokersnetfinancingactivities
Duetobrokersnetfinancingactivities
-926000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-252388000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-174955000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
25842000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
31603000 USD
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
35351000 USD
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
18585000 USD
CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
61193000 USD
CY2019Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
50188000 USD
us-gaap Interest Paid Net
InterestPaidNet
12524000 USD
us-gaap Interest Paid Net
InterestPaidNet
28619000 USD
CY2020Q3 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
3454000 USD
CY2019Q3 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
3485000 USD
earn Required Distributionof Taxable Net Income Percentageon Annual Basis
RequiredDistributionofTaxableNetIncomePercentageonAnnualBasis
0.90
earn Intended Distributionof Taxable Net Income Percentageon Annual Basis
IntendedDistributionofTaxableNetIncomePercentageonAnnualBasis
1
us-gaap Revenue Recognition Interest
RevenueRecognitionInterest
Interest Income: Coupon interest income on investment securities is accrued based on the outstanding principal balance or notional amount and the current coupon rate on each security. The Company amortizes purchase premiums and accretes purchase discounts on its fixed-income securities. For RMBS that are deemed to be of high credit quality at the time of purchase, premiums and discounts are generally amortized/accreted into interest income over the life of such securities using the effective interest method. For such RMBS whose cash flows vary depending on prepayments, an effective yield retroactive to the time of purchase is periodically recomputed based on actual prepayments and changes in projected prepayment activity, and a catch-up adjustment, or "Catch-up Premium Amortization Adjustment," is made to amortization to reflect the cumulative impact of the change in effective yield. <div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For RMBS that are deemed not to be of high credit quality at the time of purchase, interest income is recognized based on the effective interest method. For purposes of estimating future expected cash flows, management uses assumptions including, but not limited to, assumptions for future prepayment rates, default rates, and loss severities (each of which may in turn incorporate various macro-economic assumptions, such as future housing prices). These assumptions are re-evaluated not less than quarterly. Changes in estimated future cash flows, as applied to the current amortized cost of the security, may result in a prospective change in the yield/interest income recognized on such securities. </span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain of the Company's debt securities, at the date of acquisition, have experienced or are expected to experience more-than-insignificant deterioration in credit quality since origination. For periods subsequent to the Company's application of the principles of ASU 2016-13, if at the date of acquisition for a particular asset the Company projects a significant difference between contractual cash flows and expected cash flows, it establishes an initial estimate for credit losses as an upward adjustment to the acquisition cost of the asset for the purpose of calculating interest income using the effective yield method.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company's accretion of discounts and amortization of premiums on securities for U.S. federal and other tax purposes is likely to differ from the accounting treatment under U.S. GAAP of these items as described above.</span></div>
us-gaap Debt Securities Available For Sale Purchased With Credit Deterioration Allowance For Credit Loss At Acquisition Date
DebtSecuritiesAvailableForSalePurchasedWithCreditDeteriorationAllowanceForCreditLossAtAcquisitionDate
-1500000 USD
earn Required Distributionof Taxable Net Income Percentageon Annual Basis
RequiredDistributionofTaxableNetIncomePercentageonAnnualBasis
0.90
CY2020Q3 earn Catchup Premium Amortization Adjustment
CatchupPremiumAmortizationAdjustment
400000 USD
CY2019Q3 earn Catchup Premium Amortization Adjustment
CatchupPremiumAmortizationAdjustment
-1600000 USD
earn Catchup Premium Amortization Adjustment
CatchupPremiumAmortizationAdjustment
-4100000 USD
earn Catchup Premium Amortization Adjustment
CatchupPremiumAmortizationAdjustment
-3400000 USD
us-gaap Available For Sale Securities Gross Unrealized Loss
AvailableForSaleSecuritiesGrossUnrealizedLoss
2900000 USD
CY2020Q3 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
-2000000.0 USD
CY2019Q3 us-gaap Other Than Temporary Impairment Loss Debt Securities Portion Recognized In Earnings
OtherThanTemporaryImpairmentLossDebtSecuritiesPortionRecognizedInEarnings
-800000 USD
us-gaap Other Than Temporary Impairment Loss Debt Securities Portion Recognized In Earnings
OtherThanTemporaryImpairmentLossDebtSecuritiesPortionRecognizedInEarnings
-4000000.0 USD
CY2020Q3 us-gaap Derivative Assets
DerivativeAssets
1738000 USD
CY2019Q4 us-gaap Derivative Assets
DerivativeAssets
4180000 USD
CY2020Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
7916000 USD
CY2019Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
2047000 USD
CY2020Q3 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
-6178000 USD
CY2019Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
2133000 USD
CY2020Q3 earn Netrealizedgainslossesonperiodicsettementsofinterestrateswaps
Netrealizedgainslossesonperiodicsettementsofinterestrateswaps
-271000 USD
CY2020Q3 earn Netrealizedgainslossesotherthanonperiodicsettementsofinterestrateswaps
Netrealizedgainslossesotherthanonperiodicsettementsofinterestrateswaps
-377000 USD
CY2020Q3 earn Netrealizedgainslossesonfinancialderivatives
Netrealizedgainslossesonfinancialderivatives
-648000 USD
CY2020Q3 earn Unrealizedgainlossonaccruedperiodicsettlementsoninterestrateswaps
Unrealizedgainlossonaccruedperiodicsettlementsoninterestrateswaps
-148000 USD
CY2020Q3 earn Unrealizedgainlossonotherthanaccuredperiodicsettlementsoninterestrateswaps
Unrealizedgainlossonotherthanaccuredperiodicsettlementsoninterestrateswaps
2951000 USD
CY2020Q3 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
2803000 USD
CY2019Q3 earn Netrealizedgainslossesonperiodicsettementsofinterestrateswaps
Netrealizedgainslossesonperiodicsettementsofinterestrateswaps
2347000 USD
CY2019Q3 earn Netrealizedgainslossesotherthanonperiodicsettementsofinterestrateswaps
Netrealizedgainslossesotherthanonperiodicsettementsofinterestrateswaps
-4209000 USD
CY2019Q3 earn Netrealizedgainslossesonfinancialderivatives
Netrealizedgainslossesonfinancialderivatives
-1862000 USD
CY2019Q3 earn Unrealizedgainlossonaccruedperiodicsettlementsoninterestrateswaps
Unrealizedgainlossonaccruedperiodicsettlementsoninterestrateswaps
-1815000 USD
CY2019Q3 earn Unrealizedgainlossonotherthanaccuredperiodicsettlementsoninterestrateswaps
Unrealizedgainlossonotherthanaccuredperiodicsettlementsoninterestrateswaps
-3536000 USD
CY2019Q3 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-5351000 USD
earn Netrealizedgainslossesonperiodicsettementsofinterestrateswaps
Netrealizedgainslossesonperiodicsettementsofinterestrateswaps
-161000 USD
CY2020Q3 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
1061640000 USD
CY2020Q3 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.0027
earn Netrealizedgainslossesotherthanonperiodicsettementsofinterestrateswaps
Netrealizedgainslossesotherthanonperiodicsettementsofinterestrateswaps
-15438000 USD
earn Netrealizedgainslossesonfinancialderivatives
Netrealizedgainslossesonfinancialderivatives
-15599000 USD
earn Unrealizedgainlossonaccruedperiodicsettlementsoninterestrateswaps
Unrealizedgainlossonaccruedperiodicsettlementsoninterestrateswaps
-401000 USD
earn Unrealizedgainlossonotherthanaccuredperiodicsettlementsoninterestrateswaps
Unrealizedgainlossonotherthanaccuredperiodicsettlementsoninterestrateswaps
-7892000 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-8293000 USD
earn Netrealizedgainslossesonperiodicsettementsofinterestrateswaps
Netrealizedgainslossesonperiodicsettementsofinterestrateswaps
2978000 USD
earn Netrealizedgainslossesotherthanonperiodicsettementsofinterestrateswaps
Netrealizedgainslossesotherthanonperiodicsettementsofinterestrateswaps
-25701000 USD
earn Netrealizedgainslossesonfinancialderivatives
Netrealizedgainslossesonfinancialderivatives
-22723000 USD
earn Unrealizedgainlossonaccruedperiodicsettlementsoninterestrateswaps
Unrealizedgainlossonaccruedperiodicsettlementsoninterestrateswaps
-1105000 USD
earn Unrealizedgainlossonotherthanaccuredperiodicsettlementsoninterestrateswaps
Unrealizedgainlossonotherthanaccuredperiodicsettlementsoninterestrateswaps
-13656000 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-14761000 USD
CY2020Q3 earn Numberof Counterpartieswith Outstanding Repurchase Agreements
NumberofCounterpartieswithOutstandingRepurchaseAgreements
15 counterparties
us-gaap Schedule Of Repurchase Agreements
ScheduleOfRepurchaseAgreements
<div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table details the Company's outstanding borrowings under repurchase agreements as of September 30, 2020 and December 31, 2019:</span></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"/><td style="width:22.876%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.765%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.572%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.180%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.765%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.572%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.190%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">September 30, 2020</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31, 2019</span></td></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="9" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Weighted Average</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="9" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Weighted Average</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Remaining Days to Maturity</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Borrowings Outstanding</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Interest Rate</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Remaining Days to Maturity</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Borrowings Outstanding</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Interest Rate</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Remaining Days to Maturity</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">30 days or less</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">302,744 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.27 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">16</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">513,092 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.10 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">31-60 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:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">575,571 </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:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.25 </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="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">44</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:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">549,541 </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:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.91 </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="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">45</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">61-90 days</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">89,814 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.31 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">77</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">233,639 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.97 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">74</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">91-120 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:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,516 </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:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.34 </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="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">114</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:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">— </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:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">— </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:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">151-180 days</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15,829 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.25 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">167</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">181-360 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:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">73,166 </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:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.30 </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="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">279</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:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">— </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:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">— </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:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,061,640 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.27 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">57</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,296,272 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.00 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">39</span></td></tr></table></div>
us-gaap Repurchase Agreement Counterparty Weighted Average Maturity Of Agreements1
RepurchaseAgreementCounterpartyWeightedAverageMaturityOfAgreements1
P57D
CY2019Q4 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
1296272000 USD
CY2019Q4 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.0200
CY2019 us-gaap Repurchase Agreement Counterparty Weighted Average Maturity Of Agreements1
RepurchaseAgreementCounterpartyWeightedAverageMaturityOfAgreements1
P39D
CY2020Q3 us-gaap Pledged Financial Instruments Not Separately Reported Securities For Repurchase Agreements
PledgedFinancialInstrumentsNotSeparatelyReportedSecuritiesForRepurchaseAgreements
1100000000 USD
CY2019Q4 us-gaap Pledged Financial Instruments Not Separately Reported Securities For Repurchase Agreements
PledgedFinancialInstrumentsNotSeparatelyReportedSecuritiesForRepurchaseAgreements
1300000000 USD
earn Repurchase Agreement Counterparty Concentration Risk Threshold
RepurchaseAgreementCounterpartyConcentrationRiskThreshold
0.10
CY2020Q3 us-gaap Derivative Assets
DerivativeAssets
1738000 USD
CY2020Q3 us-gaap Derivative Liability Not Offset Policy Election Deduction
DerivativeLiabilityNotOffsetPolicyElectionDeduction
1584000 USD
CY2020Q3 us-gaap Derivative Collateral Obligation To Return Cash
DerivativeCollateralObligationToReturnCash
0 USD
CY2020Q3 us-gaap Derivative Asset Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
DerivativeAssetFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
154000 USD
CY2020Q3 us-gaap Securities Purchased Under Agreements To Resell
SecuritiesPurchasedUnderAgreementsToResell
20013000 USD
CY2020Q3 us-gaap Securities Sold Under Agreements To Resell Not Offset Policy Election Deduction
SecuritiesSoldUnderAgreementsToResellNotOffsetPolicyElectionDeduction
20013000 USD
CY2020Q3 us-gaap Securities Purchased Under Agreements To Resell Collateral Obligation To Return Cash
SecuritiesPurchasedUnderAgreementsToResellCollateralObligationToReturnCash
0 USD
CY2020Q3 us-gaap Securities Purchased Under Agreements To Resell Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
SecuritiesPurchasedUnderAgreementsToResellOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
0 USD
CY2020Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
7916000 USD
CY2020Q3 us-gaap Derivative Asset Not Offset Policy Election Deduction
DerivativeAssetNotOffsetPolicyElectionDeduction
1584000 USD
CY2020Q3 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
6250000 USD
CY2020Q3 us-gaap Derivative Liability Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
DerivativeLiabilityFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
82000 USD
CY2020Q3 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
1061640000 USD
CY2020Q3 us-gaap Securities Purchased Under Agreements To Resell Not Offset Policy Election Deduction
SecuritiesPurchasedUnderAgreementsToResellNotOffsetPolicyElectionDeduction
20013000 USD
CY2020Q3 us-gaap Securities Sold Under Agreements To Repurchase Collateral Right To Reclaim Cash
SecuritiesSoldUnderAgreementsToRepurchaseCollateralRightToReclaimCash
31307000 USD
CY2020Q3 us-gaap Securities Sold Under Agreements To Repurchase Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
SecuritiesSoldUnderAgreementsToRepurchaseOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
0 USD
CY2020Q3 us-gaap Securities Sold Under Agreements To Repurchase Fair Value Of Collateral
SecuritiesSoldUnderAgreementsToRepurchaseFairValueOfCollateral
1100000000 USD
CY2019Q4 us-gaap Derivative Assets
DerivativeAssets
4180000 USD
CY2019Q4 us-gaap Derivative Liability Not Offset Policy Election Deduction
DerivativeLiabilityNotOffsetPolicyElectionDeduction
1756000 USD
CY2019Q4 us-gaap Derivative Collateral Obligation To Return Cash
DerivativeCollateralObligationToReturnCash
0 USD
CY2019Q4 us-gaap Derivative Asset Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
DerivativeAssetFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
2424000 USD
CY2019Q4 us-gaap Securities Purchased Under Agreements To Resell
SecuritiesPurchasedUnderAgreementsToResell
2084000 USD
CY2019Q4 us-gaap Securities Sold Under Agreements To Resell Not Offset Policy Election Deduction
SecuritiesSoldUnderAgreementsToResellNotOffsetPolicyElectionDeduction
2084000 USD
CY2019Q4 us-gaap Securities Purchased Under Agreements To Resell Collateral Obligation To Return Cash
SecuritiesPurchasedUnderAgreementsToResellCollateralObligationToReturnCash
0 USD
CY2019Q4 us-gaap Securities Purchased Under Agreements To Resell Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
SecuritiesPurchasedUnderAgreementsToResellOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
0 USD
CY2019Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
2047000 USD
CY2019Q4 us-gaap Derivative Asset Not Offset Policy Election Deduction
DerivativeAssetNotOffsetPolicyElectionDeduction
1756000 USD
CY2019Q4 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
211000 USD
CY2019Q4 us-gaap Derivative Liability Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
DerivativeLiabilityFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
80000 USD
CY2019Q4 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
1296272000 USD
CY2019Q4 us-gaap Securities Purchased Under Agreements To Resell Not Offset Policy Election Deduction
SecuritiesPurchasedUnderAgreementsToResellNotOffsetPolicyElectionDeduction
2084000 USD
CY2019Q4 us-gaap Securities Sold Under Agreements To Repurchase Collateral Right To Reclaim Cash
SecuritiesSoldUnderAgreementsToRepurchaseCollateralRightToReclaimCash
24924000 USD
CY2019Q4 us-gaap Securities Sold Under Agreements To Repurchase Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
SecuritiesSoldUnderAgreementsToRepurchaseOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
0 USD
CY2019Q4 us-gaap Securities Sold Under Agreements To Repurchase Fair Value Of Collateral
SecuritiesSoldUnderAgreementsToRepurchaseFairValueOfCollateral
1300000000 USD
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
8118000 USD
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
3729000 USD
us-gaap Net Income Loss
NetIncomeLoss
12718000 USD
us-gaap Net Income Loss
NetIncomeLoss
12550000 USD
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12323044 shares
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12459478 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12359007 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12464800 shares
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.66
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.30
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.03
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.01
CY2020Q3 earn Annual Base Management Fee Percent
AnnualBaseManagementFeePercent
0.0150
CY2020Q3 us-gaap Management Fee Expense
ManagementFeeExpense
600000 USD
us-gaap Management Fee Expense
ManagementFeeExpense
1700000 USD
us-gaap Management Fee Expense
ManagementFeeExpense
1800000 USD
earn Related Party Transaction Expense Reimbursement Period
RelatedPartyTransactionExpenseReimbursementPeriod
P60D
earn Expenses Reimbursedto Related Party
ExpensesReimbursedtoRelatedParty
1500000 USD
earn Expenses Reimbursedto Related Party
ExpensesReimbursedtoRelatedParty
1700000 USD
earn Related Party Transaction Termination Fee Percentage
RelatedPartyTransactionTerminationFeePercentage
0.05
CY2020Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2020Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2020Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000000 shares
CY2020Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2020Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
12334636 shares
CY2019Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
12455758 shares
CY2020Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2020Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
12319616 shares
CY2019Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
12467103 shares
CY2019Q3 earn Unvestedrestrictedsharesoutstanding
Unvestedrestrictedsharesoutstanding
23039 shares
CY2019Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
12455758 shares
CY2018Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
12507213 shares
CY2020Q3 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
15020 shares
CY2019Q3 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
15024 shares
us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
15020 shares
us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
15024 shares
CY2020Q3 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
0 shares
CY2019Q3 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
33706 shares
us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
136142 shares
us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
73816 shares
CY2020Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
12334636 shares
CY2019Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
12448421 shares
CY2020Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
12334636 shares
CY2019Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
12448421 shares
CY2020Q3 earn Unvestedrestrictedsharesoutstanding
Unvestedrestrictedsharesoutstanding
25472 shares
CY2019Q3 earn Unvestedrestrictedsharesoutstanding
Unvestedrestrictedsharesoutstanding
23039 shares
CY2020Q3 earn Unvestedrestrictedsharesoutstanding
Unvestedrestrictedsharesoutstanding
25472 shares
CY2020Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
283704 shares
CY2018Q2 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
1200000 shares
us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
136142 shares
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
1000000.0 USD
earn Stock Repurchases Average Price Per Share
StockRepurchasesAveragePricePerShare
7.24
us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
434171 shares
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
4100000 USD
earn Stock Repurchases Average Price Per Share
StockRepurchasesAveragePricePerShare
9.45
earn Intended Distributionof Taxable Net Income Percentageon Annual Basis
IntendedDistributionofTaxableNetIncomePercentageonAnnualBasis
1

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