| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 |
|---|---|---|---|---|---|---|---|---|---|
Interest income | |||||||||
Interest on bonds | |||||||||
3,576 | 9,430 | 9,159 | 15,029 | 16,263 | 19,088 | 37,928 | - | - | - |
Interest on loans and short-term investments | |||||||||
5,781 | 3,362 | 711 | 3,535 | 2,652 | 1,114 | - | - | - | - |
Total interest income | |||||||||
9,357 | 12,792 | 9,870 | 11,494 | 13,611 | 17,974 | - | - | - | - |
Interest income | |||||||||
- | - | - | - | - | - | - | 65,791 | 82,167 | 91,697 |
Asset related interest expense | |||||||||
Bond related debt | |||||||||
428 | 2,496 | 1,836 | 1,477 | 1,336 | 2,392 | - | - | - | - |
Non-bond related debt | |||||||||
213 | 61 | 0 | 687 | 1,002 | 728 | - | - | - | - |
Total interest expense | |||||||||
641 | 2,557 | 1,836 | 2,164 | 2,338 | 3,120 | 24,252 | 26,659 | 35,526 | 66,573 |
Net interest income | |||||||||
8,716 | 10,235 | 8,034 | 12,865 | 13,925 | 15,968 | 13,676 | 39,132 | 46,641 | - |
Non-interest income | |||||||||
Weighted-average common shares outstanding | |||||||||
- | - | - | - | - | - | - | - | - | 40,548 |
Net gains related to CFVs | |||||||||
- | - | - | - | - | 15,227 | 36,625 | 14,019 | -12,241 | - |
Equity in income from unconsolidated funds and ventures | |||||||||
21,904 | 7,673 | - | -8,382 | -21,354 | -25,992 | -26,884 | -40,070 | 36,148 | - |
Net gains on bonds | |||||||||
28,606 | 21,875 | - | - | - | - | - | - | - | - |
Total expenses | |||||||||
- | - | - | - | - | - | - | - | - | 145,180 |
Net gains on bonds | |||||||||
- | - | - | - | - | - | - | - | 13,465 | 3,212 |
Net gains on loans | |||||||||
489 | 311 | -4,530 | - | - | - | - | - | -835 | 5,689 |
Net gains (losses) on loans | |||||||||
- | - | - | -2,415 | 150 | - | - | - | - | - |
Net gains on real estate and other investments | |||||||||
1,148 | 2,344 | 1,739 | 100 | - | 882 | - | - | - | - |
Gains on sales and operations of real estate, net | |||||||||
- | - | - | 1,504 | 11,928 | - | - | - | - | - |
Net gains on bonds | |||||||||
- | - | 620 | 12,217 | 6,513 | 12,293 | - | - | - | - |
Equity in income (loss) from unconsolidated funds and ventures (includes $0 and ($14,547) related to CFVs) | |||||||||
- | - | -545 | - | - | - | - | - | - | - |
Net (losses) gains on derivatives | |||||||||
- | - | - | - | - | - | - | - | -8,999 | -7,924 |
Net losses on derivatives | |||||||||
-3,723 | 4,587 | 1,960 | - | - | - | - | - | - | - |
Net (losses) gains on derivatives and other assets | |||||||||
- | - | - | - | - | 6,192 | - | - | - | - |
Net gains on derivatives | |||||||||
- | - | - | 4,790 | 9,238 | - | 78,783 | 81 | - | - |
Net losses on extinguishment of liabilities | |||||||||
-30 | -14 | 4,838 | -17 | 4,175 | - | 36,583 | - | - | - |
Income on preferred stock investment | |||||||||
- | - | - | - | 4,353 | 5,260 | 5,260 | 5,749 | 6,228 | 6,524 |
Asset management fees and reimbursements | |||||||||
- | - | - | 8,907 | 6,890 | 3,580 | - | - | - | - |
Other income | |||||||||
424 | 352 | 1,004 | 2,968 | 2,517 | 1,816 | 2,650 | 2,525 | 3,099 | 6,528 |
Total fee and other income | |||||||||
- | - | - | - | - | - | - | - | - | 13,052 |
Revenue from CFVs | |||||||||
- | - | - | - | - | 16,494 | - | - | - | 107,677 |
Non-interest income | |||||||||
48,818 | 37,128 | - | 11,875 | 13,760 | 27,150 | 28,053 | 19,486 | 16,302 | - |
Other expenses | |||||||||
Total revenues, net of interest expense | |||||||||
- | - | 9,038 | 24,740 | 27,685 | 43,118 | 41,729 | 58,618 | 62,943 | - |
Interest expense | |||||||||
5,774 | 4,528 | 4,770 | 4,813 | 7,650 | 13,776 | 14,988 | 18,542 | 21,498 | - |
Salaries and benefits | |||||||||
0 | 1,237 | 11,230 | 17,113 | 15,733 | 12,708 | 12,318 | 10,428 | 10,945 | 12,185 |
External management fees and reimbursable expenses | |||||||||
7,248 | 6,869 | 0 | - | - | - | - | - | - | - |
General and administrative | |||||||||
1,304 | 1,558 | 1,607 | 2,793 | 3,223 | 3,447 | 4,699 | 5,025 | 5,150 | 7,460 |
Professional fees | |||||||||
2,472 | 6,072 | 7,462 | 5,868 | 4,448 | 5,372 | 8,492 | 6,764 | 8,634 | 14,641 |
Impairments | |||||||||
0 | 388 | 26,019 | 24,974 | 31,720 | - | - | - | - | - |
Other expenses | |||||||||
233 | 1,033 | - | - | - | - | - | - | - | - |
Asset management fee expense (includes $0 and $5,698 related to CFVs) | |||||||||
- | - | 5,790 | 4,999 | 4,426 | - | - | - | - | - |
Other expenses | |||||||||
- | - | 2,332 | - | - | - | - | - | - | - |
Total other-than-temporary impairment on bonds | |||||||||
- | - | - | - | - | - | - | 7,217 | - | - |
Portion of other-than-temporary impairment recognized in AOCI | |||||||||
- | - | - | - | - | - | - | 0 | - | - |
Net impairment on bonds recognized in earnings | |||||||||
- | - | - | - | - | - | - | 7,217 | - | - |
Impairment on bonds | |||||||||
- | - | - | - | - | - | - | - | 12,815 | 20,561 |
Net loan loss | |||||||||
- | - | - | - | - | - | - | -5,647 | 858 | 4,440 |
Other expenses (includes $459 and $1,370 related to CFVs for the three months and nine months ended September 30, 2017, respectively) | |||||||||
- | - | - | 3,678 | 7,987 | 3,482 | 8,047 | 6,446 | 3,651 | 10,479 |
Expenses from CFVs | |||||||||
- | - | - | - | - | 90,435 | 101,116 | 76,899 | 95,394 | - |
Total other expenses | |||||||||
17,031 | 21,685 | 59,210 | 64,238 | 75,187 | 129,220 | - | - | - | - |
Net losses due to deconsolidation of CFVs | |||||||||
- | - | - | - | - | -23,867 | 0 | - | - | - |
Net (loss) income from continuing operations before income taxes | |||||||||
40,503 | 25,678 | -46,090 | -5,112 | -36,321 | -99,364 | 71,785 | -41,520 | -38,249 | - |
Loss from continuing operations before income taxes | |||||||||
- | - | - | - | - | - | - | - | - | -69,721 |
Income tax benefit (expense) | |||||||||
-60,482 | 32 | -1,307 | 679 | 263 | 242 | -1,304 | 101 | 239 | -772 |
Net (loss) income from continuing operations | |||||||||
100,985 | 25,646 | - | - | - | - | - | - | - | - |
Net loss from discontinued operations, net of tax | |||||||||
-8 | 35,356 | 18,846 | 1,532 | 327 | 18,038 | 26,758 | 2,960 | 19,679 | -3,508 |
Net (loss) income | |||||||||
100,977 | 61,002 | -25,937 | -4,259 | -36,257 | -81,568 | 99,847 | -38,661 | -18,809 | -72,457 |
Basic and diluted income per common share: | |||||||||
Net (losses) gains on sale of real estate | |||||||||
- | - | - | - | - | - | - | - | - | 3,500 |
Net gains on early extinguishment of liabilities | |||||||||
- | - | - | - | - | - | - | -1,774 | 752 | 7,328 |
Net gains transferred into net income from AOCI due to consolidation or real estate foreclosure | |||||||||
- | - | - | 25,860 | - | 2,003 | 10,895 | 5,404 | 13,329 | - |
Earnings Per Share, Basic and Diluted, Total | |||||||||
- | - | - | - | - | - | - | - | - | -0.71 |
Net losses allocable to noncontrolling interests in CFVs: | |||||||||
- | - | 45,339 | -46,611 | -54,983 | -100,366 | -27,993 | - | - | -43,748 |
Net income allocable to common shareholders | |||||||||
- | - | 19,402 | 42,352 | 18,726 | 18,798 | 127,840 | 3,115 | 27,998 | -28,709 |
Basic income per common share: | |||||||||
Income from continuing operations | |||||||||
17.18 | 4.46 | -0.19 | 6.53 | 2.68 | 0.08 | 12.16 | -0.06 | 0.20 | - |
Income from discontinued operations | |||||||||
- | 6.14 | 3.50 | 0.24 | 0.04 | 2.38 | 3.02 | 0.13 | 0.48 | - |
Income per common share | |||||||||
17.18 | 10.60 | 3.31 | 6.77 | 2.72 | 2.46 | 15.18 | 0.07 | 0.68 | - |
Diluted income per common share: | |||||||||
Income from continuing operations (in dollars per share) | |||||||||
17.18 | 4.25 | -0.19 | 6.44 | 2.68 | 0.08 | 11.87 | -0.06 | 0.20 | - |
Income from discontinued operations (in dollars per share) | |||||||||
- | 5.85 | 3.50 | 0.23 | 0.04 | 2.38 | 2.92 | 0.13 | 0.48 | - |
Income per common share (in dollars per share) | |||||||||
17.18 | 10.10 | 3.31 | 6.67 | 2.72 | 2.46 | 14.79 | 0.07 | 0.68 | - |
Weighted-average common shares outstanding: | |||||||||
Basic (in shares) | |||||||||
5,877 | 5,753 | 5,858 | 6,254 | 6,881 | 7,647 | 8,424 | 42,259 | 41 | - |
Diluted (in shares) | |||||||||
5,877 | 6,037 | 5,858 | 6,628 | 6,881 | 7,647 | 8,718 | 42,443 | 41 | - |
Continuing Operations [Member] | |||||||||
Net losses allocable to noncontrolling interests in CFVs: | |||||||||
- | - | 43,673 | - | - | - | - | - | - | - |
Discontinued Operations [Member] | |||||||||
Net losses allocable to noncontrolling interests in CFVs: | |||||||||
- | - | 1,666 | - | - | - | - | - | - | - |