Exantas capital corp. (XAN)
Income statement / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
REVENUES
Interest income:
CRE loans

118,060

103,800

88,268

85,229

99,334

89,231

99,455

109,030

86,739

77,694

85,857

Securities

26,190

18,600

8,501

22,384

18,332

17,265

14,309

14,296

12,424

11,434

7,225

Leases

-

-

-

-

-

0

0

-

-

-

-

Leases

-

-

-

-

-

-

-

-

-

11,306

4,336

Other

636

379

2,549

5,005

4,252

6,785

4,212

10,004

10,711

3,477

175

Total interest income

144,886

122,779

99,318

112,618

121,918

113,281

117,976

133,330

109,874

103,911

97,593

Interest expense

83,837

67,616

57,657

53,747

56,530

43,493

61,010

42,792

32,186

36,466

45,427

Net interest income

61,049

55,163

41,661

58,871

65,388

69,788

56,966

90,538

77,688

67,445

52,166

Other revenue

101

120

2,048

3,809

-

-

-

-

-

-

-

Other revenue

-

-

-

-

4,931

-

-

-

-

-

-

Rental income

-

-

-

-

-

8,441

19,923

11,463

3,656

35

0

Dividend income

-

-

-

-

-

186

273

69

3,045

99

0

Fee income

-

-

-

-

-

5,891

5,821

7,068

7,789

0

0

Total revenues

61,150

55,283

43,709

62,680

70,319

84,306

82,983

109,138

95,986

87,422

52,166

OPERATING EXPENSES
Management fees

8,954

11,250

13,117

12,991

13,306

13,584

14,220

18,512

11,022

13,216

8,363

Equity compensation

2,212

2,717

2,738

3,025

2,420

5,933

10,472

4,636

2,526

2,221

1,240

Professional services

-

-

-

-

-

-

-

-

-

3,627

3,866

Insurance

-

-

-

-

-

-

-

-

-

759

828

Rental operating

-

-

-

-

-

5,443

14,062

8,046

2,743

46

0

Lease operating

-

-

-

-

-

0

0

-

-

-

-

General and administrative

10,392

10,666

15,846

15,197

16,346

14,705

14,507

9,773

8,399

3,015

1,764

General and administrative - PCM

-

-

-

-

-

-

-

0

-

-

-

Depreciation on operating leases

-

-

-

-

-

-

-

-

-

4,003

0

Depreciation and amortization

47

77

139

1,566

4,245

2,358

3,855

5,885

4,619

0

0

Impairment losses

-

934

177

26,470

-

-

-

-

-

-

-

Impairment losses

-

-

-

-

372

0

863

180

6,898

26,804

-

Net realized and unrealized gain on investment securities, trading

-

-

-

-

-

-

-

-

-

-

0

Provision for credit losses, net

58

-1,595

1,772

17,765

41,088

1,712

3,020

16,818

13,896

43,321

61,383

Total operating expenses

21,663

24,049

33,789

77,014

-

-

-

-

-

-

-

Total operating expenses

-

-

-

-

77,777

43,735

60,999

78,452

62,139

102,733

16,059

Net interest and other revenues less operating expenses

39,487

31,234

9,920

-14,334

-7,458

40,571

21,984

30,686

33,847

-15,311

36,107

OTHER INCOME (EXPENSE)
Equity in earnings of unconsolidated entities

-

217

39,545

5,973

2,388

4,767

949

-2,709

112

231

-

Net realized and unrealized loss on investment securities available-for-sale and loans and derivatives

4

639

18,334

4,066

-

-

-

-

-

-

-

Net realized and unrealized gain (loss) on investment securities, trading

-

53

-954

-

-

-

-

-

-

-

-

Impairment losses on real property held for sale

-

-

-

-

-

-

-

-

-

-

13,471

Net realized and unrealized gain on investment securities available-for-sale and loans and derivatives

-

-

-

-

18,459

6,925

9,637

4,106

2,643

4,821

1,890

Net realized and unrealized gain on investment securities, trading

-

-

-

2,398

-547

-2,818

-324

12,435

837

14,791

-

Fair value adjustments on financial assets held for sale

4,682

7,176

1,831

-

-

-

-

-

-

-

-

Fair value adjustments on financial assets held for sale

-

-

-

-

0

-

-

-

-

-

-

Fair value adjustments on financial assets held for sale

4,682

7,176

1,831

-

-

-

-

-

-

-

-

Unrealized gain and net interest income on linked transactions, net

-

-

-

-

235

7,850

-3,841

728

216

0

-

Gain on consolidation

-

-

-

-

-

-

-

-

0

0

-

Loss on extinguishment of debt

-

-

-10,365

0

-1,403

-4,442

0

16,699

3,875

34,610

44,546

Gain on sale of real estate

-

-

-

-

-

6,127

16,616

0

0

-

-

Other (expense) income

1,408

1,996

-579

1,555

759

-1,262

391

2,498

-6

148

-1,350

Total other expense

-3,270

-4,271

44,150

13,992

19,891

17,147

23,428

33,757

3,869

34,758

-29,768

INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE TAXES

-

-

-

-

12,433

57,718

-

-

-

-

-

(LOSS) INCOME FROM CONTINUING OPERATIONS BEFORE TAXES

36,217

26,963

54,070

-342

-

-

45,412

-

-

-

-

Income tax benefit

0

-343

6,613

10,992

1,354

-1,867

-1,041

14,602

12,036

5,721

-2

NET (LOSS) INCOME FROM CONTINUING OPERATIONS

36,217

27,306

47,457

-11,334

11,079

59,585

-

-

-

-

-

NET LOSS FROM DISCONTINUED OPERATIONS, NET OF TAX

-251

121

-14,116

-19,260

6,104

2,583

-

-

-

-

-

NET (LOSS) INCOME

35,966

27,427

33,341

-30,594

-

-

-

-

-

-

-

Net income allocated to preferred shares

10,350

12,972

24,057

24,091

-

-

-

-

-

-

-

NET INCOME

-

-

-

-

17,183

62,168

46,453

64,443

37,716

19,447

-

Net income allocated to preferred shares

10,350

12,972

24,057

24,091

24,437

17,176

7,221

1,244

-

-

-

Consideration paid in excess of carrying value for preferred shares

0

7,500

3,800

-

-

-

-

-

-

-

-

Consideration paid (in excess of) less than carrying value for preferred shares

-

-

-

1,500

-

-

-

-

-

-

-

Net (income) loss allocated to preferred shares

-

-

-

-

-

-

-

-

0

0

-

Carrying value (less than) in excess of consideration paid for preferred shares

-

-

-

-

0

0

-

-

-

-

-

Net loss (income) allocable to non-controlling interest, net of taxes

-

-

-

-

6,628

965

0

0

-

-

-

Net loss allocable to non-controlling interest, net of taxes

-

0

-196

-229

-

-

-

-

-

-

-

NET (LOSS) INCOME ALLOCABLE TO COMMON SHARES

25,616

6,973

5,677

-52,956

-13,882

44,027

39,232

63,199

37,716

19,447

6,339

NET INCOME (LOSS) PER COMMON SHARE - BASIC:
CONTINUING OPERATIONS (in dollars per share)

0.82

0.22

0.64

-1.10

-0.62

1.30

-

-

-

-

-

DISCONTINUED OPERATIONS (in dollars per share)

-

0.00

-0.46

-0.63

0.19

0.08

-

-

-

-

-

TOTAL NET INCOME (LOSS) PER COMMON SHARE - BASIC (in dollars per share)

0.82

0.22

0.18

-1.73

-0.43

1.38

1.32

0.71

0.54

0.41

0.25

NET INCOME (LOSS) PER COMMON SHARE - DILUTED:
CONTINUING OPERATIONS (in dollars per share)

0.81

0.22

0.64

-1.10

-0.62

1.28

-

-

-

-

-

DISCONTINUED OPERATIONS (in dollars per share)

-

0.00

-0.46

-0.63

0.19

0.08

-

-

-

-

-

TOTAL NET INCOME (LOSS) PER COMMON SHARE - DILUTED (in dollars per share)

0.81

0.22

0.18

-1.73

-0.43

1.36

1.31

0.71

0.53

0.41

0.25

WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC (in shares)

31,430

31,198

30,836

30,539

32,280

32,007

29,619

88,410

70,410

47,715

25,205

WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - DILUTED (in shares)

31,670

31,383

31,075

30,539

32,280

32,314

30,009

89,284

70,809

47,907

25,355

DIVIDENDS DECLARED PER SHARE (in dollars per share)

-

-

-

-

-

-

-

-

-

-

1.15