Ready capital corporation (RC)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12
Loans, held-for-investment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

30,777

32,332

-

31,623

6,423

6,625

56,771

6,837

6,819

5,649

5,486

4,051

903

28

0

0

0

0

Loans, held at fair value

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,660

3,362

-

4,947

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loans, held for sale, at fair value

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

94

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Mortgage loans held for sale previously held for investment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Mortgage loans held for sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

793

608

-

0

0

0

-

-

-

-

-

-

-

-

Mortgage backed securities, at fair value

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,064

2,173

-

2,981

2,280

2,420

-6,720

3,976

3,832

3,740

3,287

4,222

5,031

3,407

2,181

2,176

2,278

2,761

Interest income

69,551

64,406

59,723

57,034

48,753

46,204

44,287

41,858

37,150

36,135

35,038

33,248

33,884

32,765

31,890

34,501

37,867

-

39,645

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other Investment Securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

63

32

-

186

178

102

0

0

0

0

-

-

-

-

Total interest income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

9,561

9,687

-

11,000

10,831

9,493

8,773

8,273

5,935

3,436

2,181

2,176

2,278

2,761

Securitized debt obligations of consolidated VIEs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,530

4,541

-

2,996

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Warehouse lines of credit

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

518

553

-

0

0

0

-

-

-

-

-

-

-

-

Loan repurchase facility

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

Borrowings under repurchase agreements

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,687

3,859

-

4,355

0

0

2,179

677

737

660

659

877

867

514

343

376

378

288

Guaranteed loan financing

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,414

3,949

-

4,923

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Borrowings under credit facilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,078

1,952

-

1,350

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Promissory note payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

67

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loan repurchase facilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,371

2,352

-

2,390

2,260

1,830

1,867

1,455

289

0

-

-

-

-

Securities repurchase agreements

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

394

402

-

-

-

-

-

-

-

-

-

-

-

-

Exchangeable Senior Notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,442

1,436

-

1,424

1,419

1,412

563

0

0

0

-

-

-

-

Interest expense

46,930

40,962

39,390

35,753

35,775

31,240

28,925

26,407

22,666

21,067

19,908

17,230

16,441

15,598

14,097

13,776

14,301

24,708

13,624

4,727

4,745

6,432

4,491

4,416

3,903

3,090

2,333

1,156

514

343

376

378

288

Net interest income before provision for loan losses

22,621

23,444

20,333

21,281

12,978

14,964

15,362

15,451

14,484

15,068

15,130

16,018

17,443

17,167

17,793

20,725

23,566

65,352

26,021

4,833

4,941

55,189

6,508

6,414

5,589

5,682

5,940

4,778

2,921

1,838

1,799

1,900

2,472

Provision for loan losses

39,804

1,125

693

1,348

518

1,131

800

-397

167

506

466

159

1,232

3,130

488

2,017

2,184

-

4,112

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net interest income after provision for loan losses

-17,183

22,319

19,640

19,933

12,460

13,833

14,562

15,848

14,317

14,562

14,664

15,859

16,211

14,037

17,305

18,708

21,382

-

21,909

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

976

1,135

-

1,039

-

-

-

-

-

-

-

-

-

-

Non-interest income
Residential mortgage banking activities

36,669

18,918

29,013

21,021

14,587

11,562

17,011

17,255

14,024

51,208

10,735

10,985

10,509

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total non-interest income (expense)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-12,448

-12,879

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,448

3,953

2,919

-

1,666

1,462

2,231

-

-

-

-

-

-

-

-

Total other income (expense)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-10,602

-

-8,845

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in unrealized gain or loss

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-15,642

903

-

6,269

2,903

6,489

Realized gain on mortgage loans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

346

66

0

-

0

0

-

Net realized gain (loss) on financial instruments and real estate owned

7,172

8,044

7,377

6,255

7,282

10,611

6,946

8,620

12,232

6,177

5,695

4,491

2,966

3,194

2,454

1,075

191

-

2,989

-

-

-

-

-

-

-

-9,113

-246

0

-

849

109

-2,061

Net unrealized gain (loss) on financial instruments

-33,434

3,009

-7,881

-7,006

-6,912

-11,112

8,500

4,457

3,008

2,066

2,678

974

1,282

12,114

3,557

2,602

-336

-

-325

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Servicing income, net of amortization and impairment of $1,725 and $1,763

8,097

8,653

7,449

7,811

6,752

7,116

6,922

6,627

6,410

6,787

6,134

5,631

4,442

4,237

1,661

1,347

1,413

834

994

1,667

1,637

2,456

0

0

0

-

-

-

-

-

-

-

-

Income on purchased future receivables, net of allowance for doubtful accounts of $6,917

3,483

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income (loss) on unconsolidated joint ventures

-3,537

12

1,047

2,100

2,929

2,731

2,178

1,500

5,739

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in fair value of mortgage servicing rights

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-3,647

3,424

-

0

0

0

-

-

-

-

-

-

-

-

Other income

4,073

4,407

2,979

2,792

900

1,222

1,204

1,826

1,334

3,129

1,853

1,588

840

3,825

1,729

1,299

2,308

10,407

3,999

12

11

8,081

0

0

0

-

-

-

-

-

-

-

-

Mortgage banking activities, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

12,102

11,152

-

0

0

0

-

-

-

-

-

-

-

-

Gain on bargain purchase

-

0

0

0

30,728

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total non-interest income

22,523

45,422

39,984

32,956

56,266

22,127

42,761

40,288

42,747

88,501

18,722

18,204

15,791

-

-

-

-

-

-

17,430

9,376

-

0

0

0

8,199

1,172

-10,527

1,155

-

6,757

2,114

4,570

Non-interest expense
Change in unrealized gain or loss on mortgage loans held for investment and held for sale previously held for investment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,246

-1,199

-

-

-

-

-

-

1,596

-28

-

0

0

-

Change in unrealized gain or loss on real estate securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,965

-177

-

-

-

-

-

-

-

-

-

-

-

-

Change in unrealized gain or loss on Other Investment Securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8

136

-

-

-

-

-

-

0

0

-

-

-

-

Change in unrealized gain or loss on real estate owned

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-93

101

-

-

-

-

-

-

-

-

-

-

-

-

Change in unrealized gain or loss on Treasury Securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Realized gain on mortgage loans held for investment and held for sale previously held for investment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

472

144

-

-

-

-

-

-

-

-

-

-

-

-

Realized (loss) / gain on real estate securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

75

0

-

-

-

-

-

-

-

-

-

-

-

-

Realized loss on Other Investment Securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-39

-

-

-

-

-

-

-

-

-

-

-

-

-

Realized (loss) / gain on real estate owned

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-24

20

-

-

-

-

-

-

-

-

-

-

-

-

Realized gain on Treasury Securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain/(loss) on derivative instruments related to investment portfolio

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,401

-907

-

-517

-1,902

-3,108

125

1,510

3,698

281

-52

-362

-897

141

Total other gains/(losses)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,082

-1,881

-

-1,805

22,688

992

-

-

-

-

-

-

-

-

Advisory fee - related party

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

717

710

-

718

710

702

726

710

704

488

149

255

245

227

Employee compensation and benefits

18,936

13,842

13,438

12,509

11,448

12,847

14,163

14,272

15,320

14,409

13,715

13,451

13,464

10,823

4,822

4,112

5,070

-1,474

4,934

8,090

7,399

12,791

0

0

0

-

-

-

-

-

-

-

-

Allocated employee compensation and benefits from related party

1,250

1,870

1,500

1,250

853

600

1,200

1,200

1,200

833

990

1,008

1,012

968

900

900

900

-

596

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Variable expenses on residential mortgage banking activities

20,129

11,765

17,318

13,501

9,176

4,108

8,337

7,493

2,290

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Professional fees

2,556

1,989

2,030

1,586

1,829

-344

2,294

2,401

2,648

2,588

2,151

2,023

2,159

4,847

3,120

3,677

1,776

-

1,567

-

-

-

-

-

-

-

1,090

231

1,261

-

193

398

545

Management fees – related party

2,561

2,591

2,495

2,495

1,997

2,057

2,070

2,036

2,013

2,041

2,034

2,007

1,977

1,968

1,793

1,833

1,838

-

1,841

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Incentive fees – related party

-

-

-

-

-

467

-1

269

408

-

-

-

-

-

-

-

-

-

681

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loan servicing expense

5,570

4,891

4,866

4,571

3,648

4,205

4,247

3,000

4,093

2,811

3,388

2,611

1,513

720

1,830

1,185

876

-

771

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Merger related expenses

47

1,629

51

603

5,467

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other operating expenses

13,744

10,072

8,144

8,085

6,861

5,272

6,548

8,916

8,011

7,752

7,447

6,206

5,534

6,126

3,373

3,818

3,863

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,058

1,163

-

279

-

-

-

-

-

-

Loan servicing fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

319

114

0

-

0

0

-

General and administrative expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

565

769

354

-

48

43

37

Total non-interest expense

64,793

48,755

49,842

44,600

41,279

29,211

38,859

39,587

35,983

72,171

29,725

27,306

25,659

-

-

-

-

-

-

13,737

12,164

-

3,424

3,231

4,098

2,715

2,965

1,819

2,103

2,185

498

686

809

Income (loss) before provision for income taxes

-59,453

18,986

9,782

8,289

27,447

6,749

18,464

16,549

21,081

12,806

12,034

12,222

10,591

34,206

10,868

9,506

10,635

27,621

15,728

9,609

271

6,655

1,279

25,872

2,482

-

-

-

-

-

-

-

-

Income tax benefit

-7,900

-1,907

-2,645

-3,000

-3,000

-2,737

895

665

2,563

76

-340

1,069

1,034

6,325

1,297

858

1,171

2,373

2,682

2,899

-145

897

0

0

0

-

-

-

-

-

-

-

-

Net income from continuing operations

-

-

-

-

-

-

-

-

18,518

-

-

-

-

27,881

9,571

8,648

9,464

-

13,046

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss from discontinued operations (including loss on disposal of $2,695 in 2016)

-

-

-

-

-

-

-

-

-

-

-

-

-

-2,962

0

0

-576

-

-857

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income tax benefit

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,155

0

0

-225

-

-1,243

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss from discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,807

0

0

-351

-

386

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income (loss)

-51,516

20,934

12,427

11,245

30,450

9,486

17,569

15,884

18,518

12,730

12,374

11,153

9,557

26,074

9,571

8,648

9,113

24,209

13,432

6,709

417

3,087

1,279

25,872

2,482

9,000

4,148

-7,568

1,973

2,645

8,058

3,328

6,233

Less: Net income (loss) attributable to non-controlling interest

-1,064

506

323

276

983

309

638

588

664

633

533

657

701

2,020

777

703

737

2,567

1,118

655

43

297

130

2,698

258

937

432

-788

299

362

0

0

0

Net income (loss) attributable to Ready Capital Corporation

-50,452

20,428

12,104

10,969

29,467

9,177

16,931

15,296

17,854

12,097

11,841

10,496

8,856

24,054

8,794

7,945

8,376

-

12,314

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Earnings (loss) per basic common share
Continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.34

0.31

-

-

0.39

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.01

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Preferred dividends

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

15

3

4

4

3

Net income/(loss) attributable to ZAIS Financial Corp. common stockholders

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,053

373

-

1,149

23,173

2,224

8,062

3,716

-6,780

1,659

1,825

8,054

3,323

6,229

Earnings (loss) per common share - basic

-0.98

0.30

0.27

0.25

0.90

0.27

0.53

0.48

0.56

0.38

0.37

0.34

0.29

-

0.34

-

-

-

-

0.76

0.05

-

0.14

2.91

0.28

-

0.47

-0.85

-

-

-

-

-

Earnings (loss) per diluted common share
Earnings (loss) per common share - basic

-0.98

-

-

-

0.90

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.34

0.31

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Earnings (loss) per common share - diluted

-0.98

0.30

0.27

0.25

0.90

0.27

0.53

0.48

0.56

0.38

0.37

0.34

0.29

-

0.34

-

-

-

-

0.65

0.05

-

0.14

2.47

0.28

-

0.47

-0.85

-

-

-

-

-

Weighted-average shares outstanding
Net income per share applicable to common stockholders - basic and diluted

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.32

-

2.83

1.10

2.06

Basic

51,984

46,625

44,438

44,425

32,556

32,124

32,109

32,073

32,036

32,055

32,026

30,768

30,549

-

25,870

25,870

-

54,667

30,539

7,970

7,970

-

7,970

7,970

7,970

8,009

7,970

7,970

5,142

2,008

2,843

3,022

3,022

Diluted

51,990

46,727

44,467

44,431

32,563

32,139

32,130

32,092

32,045

32,058

32,028

30,769

30,549

-

25,870

25,870

-

-

-

10,677

8,897

-

8,897

10,677

8,897

8,936

8,897

8,897

6,068

2,206

2,843

3,022

3,022

Continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.34

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-0.01

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Basic and diluted weighted-average shares outstanding

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

25,764

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividends declared per share of common stock

0.40

0.40

0.40

0.40

0.40

0.40

0.40

0.40

0.37

0.37

0.37

0.37

0.37

-

0.45

0.45

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-