PennyMac Mortgage Investment Trust PMT Income Statement

Pennymac mortgage investment trust (PMT)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
Net investment income
Net gain on investments
-815,131	34,682	45,789	87,754	95,093	46,716	9,683	25,509	18	38,237	13,834	27,592	16,721	12,281	14,279	-15,487	-3,898	2,966	24,958	22,614	3,447	15,700	70,390	73,134	42,585	47,858	49,086	46,834	63,980	38,108	26,061	27,992	11,488	19,155	31,520	22,078	9,890	8,174	9,759
Contractually specified
94,469	-	76,377	-	61,272	-	49,864	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net mortgage loan servicing fees
101,660	-	83,371	-	64,480	-	52,975	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in fair value of mortgage servicing rights net of hedging results
-139,985	-	-	-	96,194	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net servicing fees from non-affiliates
244,572	20,592	5,159	-53,589	-31,080	-7,548	44,394	27,586	56,155	19,915	21,876	15,697	11,752	7,783	15,761	15,691	15,554	7,510	20,791	13,017	8,001	11,181	10,533	8,758	7,421	12,229	6,659	7,892	6,011	415	-511	-855	197	3	14	6	-3	-	-
Net gain on loans acquired for sale
48,775	65,337	49,260	34,244	21,323	17,606	24,810	9,142	7,627	20,232	17,967	17,292	19,025	23,309	43,858	24,226	15,049	15,797	13,884	11,175	10,160	5,945	9,509	10,222	9,971	13,921	11,031	44,438	29,279	66,466	49,793	18,046	13,370	7,426	84	40	83	-17	28
Short-term investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	47	9	-	24	27	31	10	22
Mortgage-backed securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,011	574	-	651	982	1,086	1,229	1,267
Mortgage loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	14,944	15,820	-	9,164	6,961	5,086	2,607	2,503
Other
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	22	-	-	-	-	-	-
Total Interest income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	16,002	16,425	-	9,839	7,970	6,203	3,846	3,792
Loan origination fees
23,928	31,959	25,470	17,630	12,938	15,010	12,424	8,850	7,037	9,683	11,744	10,467	8,290	13,889	12,684	8,519	6,901	7,001	9,135	7,279	5,287	4,896	6,447	4,485	2,356	2,981	4,559	4,752	5,473	5,664	2,836	594	1,451	-	176	-	-	-	-
Mortgage-backed securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-451	706	357	-	-791	-873	-442	596	-207
Mortgage loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	26,512	27,286	11,131	-	32,311	22,951	10,332	7,578	9,966
Interest income
72,123	95,210	87,801	71,793	63,081	67,124	62,324	52,344	40,980	43,113	51,577	52,386	48,100	57,856	58,134	51,766	54,366	53,889	61,438	45,333	40,685	43,248	41,236	48,518	39,346	43,912	35,278	26,797	16,875	-	19,730	-	-	-	-	-	-	-	-
Interest expense
81,068	92,582	84,229	65,896	54,739	53,681	46,609	40,065	34,816	35,489	40,277	38,426	37,179	40,841	40,330	36,593	32,004	31,463	37,760	29,739	25,746	21,929	22,020	21,865	19,775	20,345	19,497	14,144	11,236	9,983	8,282	6,703	6,674	6,473	5,225	2,970	2,278	251	-
Net interest (expense) income
-8,945	2,628	3,572	5,897	8,342	13,443	15,715	12,279	6,164	7,624	11,300	13,960	10,921	17,015	17,804	15,173	22,362	22,426	23,678	15,594	14,939	21,319	19,216	26,653	19,571	23,567	15,781	12,653	5,639	-	11,448	-	-	-	-	-	-	-	-
Results of real estate acquired in settlement of loans
32	-526	702	2,075	-1,480	-2,953	-310	-2,297	-3,226	-4,101	-3,143	-3,465	-4,246	-7,232	-3,285	-2,565	-6,036	-7,318	-4,221	-1,806	-5,832	-8,551	-11,926	-5,348	-6,626	-6,014	-2,295	-1,929	-3,253	-6,208	1,288	2,571	3,717	-448	352	86	1,089	637	335
Other
252	364	808	2,390	1,482	1,628	1,785	1,922	1,898	2,113	2,226	2,416	2,011	1,883	2,225	2,061	2,284	2,187	2,549	1,892	1,655	2,570	2,361	2,652	1,317	1,545	1,241	913	687	188	-1	56	1	2	-60	43	21	16	1
Net investment (loss) income
-506,517	155,036	130,760	96,401	106,618	83,902	108,501	82,991	75,673	93,703	75,804	83,959	64,474	68,928	103,326	47,618	52,216	50,569	90,774	69,765	37,657	53,060	106,530	120,556	76,595	96,087	86,062	115,553	107,816	101,557	90,914	64,406	46,649	22,177	41,985	30,223	17,283	12,656	13,915
Expenses
Loan fulfillment fees
41,940	58,297	45,149	29,590	27,574	28,591	26,256	14,559	11,944	19,175	23,507	21,107	16,570	27,164	27,255	19,111	12,935	12,855	17,553	15,333	12,866	11,887	15,497	12,433	8,902	11,087	18,327	22,054	28,244	31,809	17,258	7,715	6,124	1,411	263	61	12	-	-
Loan servicing fees
14,521	13,695	12,964	11,568	10,570	11,524	10,071	9,431	11,019	11,077	11,402	10,099	10,486	11,696	11,039	16,427	11,453	11,881	11,736	12,136	10,670	11,426	12,325	14,180	14,591	12,162	10,738	8,787	7,726	4,632	4,600	4,438	4,938	2,681	4,834	3,483	2,206	885	591
Management fees
9,055	10,314	10,098	8,832	7,248	6,559	6,482	5,728	5,696	5,900	6,038	5,638	5,008	5,081	5,025	5,199	5,352	5,670	5,742	5,779	7,003	8,426	9,623	8,912	8,074	8,924	8,539	8,455	6,492	4,472	3,672	2,488	1,804	990	2,288	1,913	1,549	1,237	1,202
Loan origination
4,249	5,382	4,328	3,118	2,277	2,582	2,136	1,572	272	1,786	2,230	1,993	1,512	2,228	2,202	1,557	1,121	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Safekeeping
1,658	-	-	-	736	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Professional services
1,496	1,066	1,430	1,733	1,327	688	2,616	1,757	1,319	1,374	1,331	2,747	1,453	1,381	1,134	2,011	2,293	2,057	1,759	1,662	1,828	2,032	1,927	2,690	1,731	2,501	2,149	1,339	2,384	2,732	1,693	1,186	442	786	1,656	1,115	877	628	399
Loan collection and liquidation
750	218	1,551	1,247	1,584	953	2,747	1,923	2,229	1,507	864	3,338	354	727	6,205	4,290	2,214	3,928	1,853	3,182	1,445	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Compensation
519	1,513	1,644	1,771	1,969	1,369	1,924	2,220	1,268	1,404	1,067	1,959	1,892	1,979	1,508	2,224	1,289	1,619	1,550	1,389	2,808	1,660	1,843	1,883	2,942	2,095	2,292	1,438	2,089	2,102	1,997	1,744	1,301	1,330	1,567	1,250	1,014	573	836
Real estate held for investment
-	-	-	865	-	-	-	1,301	1,438	-	1,898	1,353	1,088	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
-3,720	-1,784	-5,463	-4,307	-3,466	-6,368	-4,607	-2,214	-2,650	-28,361	3,301	3,899	3,503	1,595	3,944	4,958	4,515	340	5,474	5,196	4,857	-3,841	7,384	7,154	4,066	2,728	7,955	5,571	4,946	3,884	2,725	2,157	791	4,123	1,274	1,429	1,061	992	824
Total expenses
77,908	95,765	82,627	63,031	56,751	57,700	56,839	40,705	37,835	47,757	51,638	52,133	41,866	55,064	58,312	55,777	41,172	43,640	45,667	44,677	41,477	41,120	48,599	47,252	40,306	41,358	50,000	47,644	51,881	36,254	31,945	26,431	22,074	848	17,107	12,221	8,997	4,566	3,852
(Loss) income before provision for (benefit from) income taxes
-584,425	59,271	48,133	33,370	49,867	26,202	51,662	42,286	37,838	45,946	24,166	31,826	22,608	13,864	45,014	-8,159	11,044	6,929	45,107	25,088	-3,820	11,940	57,931	73,304	36,289	54,729	36,062	67,909	55,935	65,303	58,969	37,975	24,575	21,329	24,878	18,002	8,286	8,090	10,063
Provision for (benefit from) income taxes
10,248	674	-21,867	-10,863	-3,660	-15,423	5,100	5,861	9,652	5,109	4,771	3,046	-6,129	-17,309	9,606	-2,892	-3,452	-8,780	6,295	-2,983	-11,328	-14,571	2,982	-1,907	-1,584	2,033	-3,639	13,412	2,639	16,065	18,585	8,406	5,517	1,680	4,350	1,385	641	361	1,912
Net (loss) income
-594,673	58,597	70,000	44,233	53,527	41,625	46,562	36,425	28,186	40,837	19,395	28,780	28,737	31,173	35,408	-5,267	14,496	15,709	38,812	28,071	7,508	26,511	54,949	75,211	37,873	52,696	39,701	54,497	53,296	49,238	40,384	29,569	19,058	19,649	20,528	16,617	7,645	7,729	8,151
Dividends on preferred shares
6,234	6,236	6,234	6,234	6,234	6,235	6,235	6,234	6,234	6,235	6,125	2,336	571	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net (loss) income attributable to common shareholders
-600,907	52,361	63,766	37,999	47,293	35,390	40,327	30,191	21,952	34,602	13,270	26,444	28,166	31,173	35,408	-5,267	14,496	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings per common share
Basic
-5.99	0.54	0.75	0.52	0.73	0.58	0.66	0.49	0.36	0.52	0.20	0.39	0.42	0.45	0.52	-0.08	0.20	0.22	0.51	0.37	0.09	0.35	0.74	1.01	0.52	0.70	0.61	0.92	0.90	0.88	0.81	0.80	0.65	0.74	0.73	0.59	0.35	0.46	0.49
Diluted
-5.99	0.53	0.71	0.50	0.68	0.55	0.62	0.47	0.35	0.50	0.20	0.38	0.40	0.47	0.49	-0.08	0.20	0.22	0.49	0.36	0.09	0.35	0.69	0.93	0.50	0.63	0.57	0.86	0.90	0.89	0.81	0.79	0.65	0.74	0.73	0.59	0.35	0.45	0.48
Weighted average common shares outstanding
Basic
100,245	93,539	84,367	73,425	64,629	60,978	60,950	60,903	60,761	64,460	66,636	66,761	66,719	66,684	67,554	68,446	71,884	73,892	74,681	74,683	74,528	74,248	74,140	74,065	71,527	71,337	64,405	59,035	58,927	59,136	49,078	36,922	29,076	28,021	27,847	27,778	21,938	16,796	16,735
Diluted
100,245	102,747	92,834	81,892	73,371	68,798	69,417	69,370	69,875	81,394	66,636	75,228	75,186	91,777	76,329	68,446	71,884	91,497	83,411	83,480	74,956	82,973	82,832	82,750	80,289	80,248	73,121	65,104	59,319	59,478	49,463	37,208	29,355	28,334	28,138	28,096	22,148	17,069	17,106
Dividends declared per common share
0.25	-	0.47	0.47	0.47	-	0.47	0.47	0.47	-	0.47	0.47	0.47	-	0.47	0.47	0.47	-	0.47	0.61	0.61	-	0.61	0.59	0.59	-	0.57	0.57	0.57	-	0.55	0.55	0.55	-	0.50	0.42	-	0.35	-
PennyMac Financial Services, Inc. [Member]
Net gain on investments
-14,141	2,678	-3,435	-3,211	-3,562	107	1,706	1,520	7,751	-3,610	-3,665	-5,885	-1,370	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net loan servicing fees
-	-	-	1,015	-	-	-	412	595	-	333	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
From PennyMac Financial Services, Inc.
2,927	-	1,468	-	634	-	561	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net gain on loans acquired for sale
4,161	5,026	4,206	3,155	1,994	2,704	2,689	2,891	2,641	3,204	3,275	3,204	2,401	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest income
1,974	2,167	2,291	2,767	3,066	3,554	3,740	3,910	3,934	3,940	3,998	4,366	4,647	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net mortgage loan servicing fees
-	-	-	-	-	-	-	-	-	-	-	234	292	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest expense
1,218	1,287	1,527	1,692	1,796	1,776	1,812	1,898	1,976	2,092	2,116	2,025	1,805	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Nonaffiliates [Member]
Net gain on investments
-800,990	32,004	49,224	90,965	98,655	46,609	7,977	23,989	-7,733	41,847	17,499	33,477	18,091	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
7,191	-	6,994	-	3,208	-	3,111	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net mortgage loan servicing fees
94,469	-	76,377	-	61,272	-	49,864	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in fair value of mortgage servicing rights net of hedging results
-139,985	-	79,680	-	96,194	-	9,142	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net servicing fees from non-affiliates
241,645	18,385	3,691	-54,604	-31,714	-8,172	43,833	27,174	55,560	-	21,543	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net gain on loans acquired for sale
44,614	60,311	45,054	31,089	19,329	14,902	22,121	6,251	4,986	17,028	14,692	14,088	16,624	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest income
70,149	93,043	85,510	69,026	60,015	63,570	58,584	48,434	37,046	39,173	47,579	48,020	43,453	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net mortgage loan servicing fees
-	-	-	-	-	-	-	-	-	-	-	15,463	11,460	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest expense
79,850	91,295	82,702	64,204	52,943	51,905	44,797	38,167	32,840	33,397	38,161	36,401	35,374	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-