Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2017
Dec. 31, 2016
Assets    
Real estate securities, available-for-sale $ 2,114 $ 1,950
Real estate securities, available-for-sale - pledged as collateral 319,184 627,304
Real estate related and other loans, held-for-sale, net 62,708 55,612
Investments in real estate, net of accumulated depreciation 218,668 217,611
Intangibles, net of accumulated amortization 61,341 65,112
Other investments 20,019 19,256
Cash and cash equivalents 118,030 140,140
Restricted cash 5,338 6,404
Receivables from brokers, dealers and clearing organizations 0 552
Receivables and other assets 41,041 38,017
Total Assets 848,443 1,171,958
Liabilities    
Repurchase agreements 307,689 600,964
Credit facilities and obligations under capital leases 116,131 115,284
Junior subordinated notes payable 51,212 51,217
Dividends payable 930 8,949
Membership deposit liabilities 92,129 89,040
Accounts payable, accrued expenses and other liabilities 81,092 88,437
Total Liabilities 649,183 953,891
Commitments and contingencies
Equity    
Preferred stock, $0.01 par value, 100,000,000 shares authorized, 1,347,321 shares of 9.75% Series B Cumulative Redeemable Preferred Stock, 496,000 shares of 8.05% Series C Cumulative Redeemable Preferred Stock, and 620,000 shares of 8.375% Series D Cumulative Redeemable Preferred Stock, liquidation preference $25.00 per share, issued and outstanding as of June 30, 2017 and December 31, 2016 61,583 61,583
Common stock, $0.01 par value, 1,000,000,000 shares authorized, 66,932,744 and 66,824,304 shares issued and outstanding at June 30, 2017 and December 31, 2016, respectively 669 668
Additional paid-in capital 3,173,095 3,172,720
Accumulated deficit (3,038,522) (3,018,072)
Accumulated other comprehensive income 2,435 1,168
Total Equity 199,260 218,067
Total Liabilities and Equity $ 848,443 $ 1,171,958