EXANTAS CAPITAL CORP. XAN Income Statement

Exantas capital corp. (XAN)

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
REVENUES
Interest income:
CRE loans
27,041	27,771	32,558	30,388	27,343	29,486	26,496	25,435	22,383	22,941	21,953	21,841	21,533	20,664	21,763	21,821	20,981	4,415	32,497	29,759	32,663	15,757	27,026	26,219	20,229	21,085	24,374	26,184	27,812	38,273	24,130	23,012	23,615	26,035	18,863	20,591	21,250	19,597	19,389
Securities
6,149	6,628	6,596	6,591	6,375	5,722	5,217	4,205	3,456	3,203	1,661	1,329	2,308	8,693	4,602	4,291	4,798	3,914	4,866	5,500	4,052	4,702	5,168	3,391	4,004	3,360	3,411	3,896	3,642	3,776	3,564	3,551	3,405	3,326	3,383	2,955	2,760	3,136	2,895
Leases
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	163	95	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Leases
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-8	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Leases
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,614	1,928
Other
100	125	138	159	214	118	123	20	118	85	369	465	1,630	730	742	2,296	1,237	1,333	968	1,119	832	1,304	1,647	982	2,852	1,062	649	635	1,866	1,800	2,218	3,157	2,829	3,877	3,899	1,716	1,219	1,902	248
Total interest income
33,290	34,524	39,292	37,138	33,932	35,326	31,836	29,660	25,957	26,229	23,983	23,635	25,471	30,087	27,107	28,408	27,016	9,412	38,323	36,541	37,642	21,763	33,841	30,592	27,085	25,507	28,434	30,715	33,320	43,849	29,912	29,720	29,849	33,238	26,145	25,262	25,229	29,249	24,460
Interest expense
18,394	20,149	22,712	21,581	19,395	19,751	17,322	16,159	14,384	15,203	13,853	14,347	14,254	13,346	13,653	13,446	13,302	9,495	16,330	15,803	14,902	11,747	11,508	10,610	9,628	26,949	11,762	11,134	11,165	17,332	8,208	8,869	8,383	11,016	7,175	7,062	6,933	10,089	8,929
Net interest income
14,896	14,375	16,580	15,557	14,537	15,575	14,514	13,501	11,573	11,026	10,130	9,288	11,217	16,741	13,454	14,962	13,714	-83	21,993	20,738	22,740	10,016	22,333	19,982	17,457	-1,442	16,672	19,581	22,155	26,517	21,704	20,851	21,466	22,222	18,970	18,200	18,296	19,160	15,531
Other expense
-	-	-	-	-	-	-	-	95	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other revenue
23	24	25	26	26	-	25	152	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other revenue
-	-	-	-	-	-	-	-	-	-	-	-	928	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Rental income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	664	1,118	1,507	5,152	4,048	4,649	5,052	6,174	4,821	2,689	2,034	1,919	1,884	1,592	157	23	0	0
Gain (loss) on sale of residential mortgage loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,154	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividend income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-188	18	17	-	17	17	16	17	16	17	136	17	223	17	16	18	17	17	17	592	926	866	661	0	0
Fee income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,035	762	572	-	781	2,816	1,170	-1,275	2,344	2,322	2,500	1,639	1,245	1,527	1,410	1,540	1,777	2,141	1,610	1,930	1,960	2,253	1,646	0	0
Total revenues
14,919	14,399	16,605	15,583	14,563	15,613	14,539	13,653	11,478	11,052	10,260	10,252	12,145	18,334	14,301	15,742	14,303	-3,123	25,945	23,571	23,926	9,422	25,811	23,828	25,245	6,972	23,786	21,647	30,578	18,481	35,669	26,262	28,726	30,436	23,448	21,476	20,626	19,160	15,531
OPERATING EXPENSES
Management fees
2,117	2,092	2,528	2,251	2,083	2,812	2,813	2,812	2,813	2,875	4,924	2,638	2,680	2,802	3,053	3,099	4,037	2,994	3,252	3,500	3,560	3,584	3,606	3,314	3,080	3,214	5,113	2,915	2,978	5,000	5,521	4,548	3,443	2,400	3,136	3,148	2,338	4,405	4,288
Equity compensation
498	565	552	412	683	334	757	659	967	321	895	734	788	-518	1,702	1,352	489	859	-225	791	995	1,436	798	2,032	1,667	2,606	2,120	2,155	3,591	1,224	1,404	1,140	868	1,127	316	623	460	544	197
Professional services
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,396	-	-	-	845	617	1,100	-	624	989	919	491	876
Insurance
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	214	-	-	-	161	159	158	-	161	159	177	184	180
Rental operating
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	6	275	695	1,077	3,396	2,978	3,523	3,624	3,937	3,590	1,827	1,309	1,320	1,348	1,065	185	145	0	0
Lease operating
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-33	24	23	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
General and administrative
3,382	3,234	2,086	2,495	2,577	2,723	2,336	2,547	3,060	4,067	4,336	3,580	3,863	4,237	3,507	3,811	3,642	-14,842	10,223	9,994	10,971	3,399	3,716	4,750	2,840	7,356	1,288	2,382	3,481	6,396	844	1,470	1,063	5,205	1,273	1,121	800	721	864
General and administrative - PCM
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,631	4,138	3,426	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation on operating leases
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,658	685
Depreciation and amortization
15	8	8	7	24	9	36	19	13	13	26	32	68	332	364	361	509	2,431	628	621	565	200	562	760	836	814	904	999	1,138	1,911	1,249	1,364	1,361	1,754	1,856	756	253	0	0
Impairment losses
-	-	-	-	-	-	-	-	-	-	0	0	177	-	25,297	0	0	313	0	0	59	0	0	0	0	52	255	535	21	0	9	32	139	-	-	4,649	-	-	-
Provision for (recovery of) loan and lease losses, net
-	-	-	-	-	-	-	-	-	-	-	131	999	-	7,562	147	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision (recovery) for loan and lease losses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-70	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net realized and unrealized gain on investment securities, trading
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,806	7,215	2,528
Provision for credit losses, net
16,149	0	-1,137	170	1,025	-335	-461	0	-799	-	-612	-	-	-	-	-	-	-2,746	1,034	38,810	3,990	3,451	1,439	782	-3,960	2,479	741	-1,242	1,042	9,017	1,370	4,253	2,178	5,979	1,198	4,113	2,606	3,095	7,897
Total operating expenses
22,161	5,899	4,037	5,335	6,392	6,477	5,481	6,037	6,054	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total operating expenses
-	-	-	-	-	-	-	-	-	-	9,569	7,115	8,575	-	41,485	8,770	8,607	-11,011	14,879	53,740	20,169	150	15,447	16,853	11,285	13,668	16,276	13,105	17,950	31,722	17,209	15,276	14,245	37,366	9,720	8,152	6,901	12,071	8,222
Net interest and other revenues less operating expenses
-7,242	8,500	12,568	10,248	8,171	9,136	9,058	7,616	5,424	2,522	691	3,137	3,570	182	-27,184	6,972	5,696	7,888	11,066	-30,169	3,757	9,272	10,364	6,975	13,960	-	-	8,542	12,628	-	-	-	-	-6,930	13,728	13,324	13,725	7,089	7,309
OTHER INCOME (EXPENSE)
Equity in earnings of unconsolidated entities
-	-	-	-	-	-14	454	69	-292	-1,745	41,047	-118	361	23	1,032	2,696	2,222	686	334	662	706	104	887	1,762	2,014	1,807	-505	72	-425	-1,240	-779	-1,761	1,071	-	-	-	-	-	-
Net realized and unrealized loss on investment securities available-for-sale and loans and derivatives
-185,357	-	-	4	-	70	279	932	-642	-	-1,465	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net impairment losses recognized in earnings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-
Impairment losses on real property held for sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	4,456	6,058
Net realized and unrealized gain on investment securities available-for-sale and loans and derivatives
-	-	-	-	-	-	-	-	-	-	-	9,478	7,606	-	-475	1,634	853	-7,545	2,457	9,580	13,967	-1,037	4,226	1,648	2,088	6,282	570	2,394	391	1,958	346	1,422	380	-1,800	591	3,696	156	1,171	190
Net realized and unrealized gain on investment securities, trading
-	-	-	-	-	-	0	58	-5	-	-9	-50	-911	2,312	-242	183	145	-2,320	-580	279	2,074	-984	376	-650	-1,560	540	-229	-1,751	1,116	-915	9,782	1,424	2,144	-	-1,861	1,473	-	-	-
Fair value adjustments on financial assets held for sale
3,791	3,225	55	1,300	102	932	1,588	-9	4,665	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fair value adjustments on financial assets held for sale
3,791	3,225	55	1,300	102	932	1,588	-9	4,665	1,889	0	-79	21	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Unrealized gain and net interest income on linked transactions, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	235	356	177	5,012	2,305	502	1,161	-5,245	-259	342	133	134	119	-	-	-	-	-	-
Operating income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7,510	-	-	-	18,460	10,986	-	-	-	-	-	-	-
Loss on extinguishment of debt
-	-	-	-	-	-	-	-	-	-	-10,365	-	-	-	0	-	-	0	-332	-171	-900	-1,973	-1,867	-533	-69	0	0	0	0	-	0	5,464	-	-	3,875	0	-	6,250	16,407
Other expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-
(Loss) gain on sale of real estate
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-19	22	-22	-	-69	3,042	0	-	-	0	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of real estate
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	16,607	-	-	-	0	-	-	-	-	-	-	-	-
Other (expense) income
-86	1,149	107	51	101	1,422	57	506	11	26	-690	17	68	69	1,508	38	-60	-	0	-	-	0	0	0	-1,262	-	16,607	-	0	-	0	5,464	-	636	-191	-512	61	-121	883
Total other expense
-189,234	-2,076	52	-1,245	-1	546	-798	1,574	-5,593	-877	28,518	9,406	7,103	4,458	1,823	4,551	3,160	-8,401	1,860	10,372	16,060	-380	3,730	10,281	3,516	-	-	0	0	-	-	-	-	7,341	1,216	-4,105	-583	6,964	6,053
(LOSS) INCOME FROM CONTINUING OPERATIONS BEFORE TAXES
-196,476	6,424	12,620	9,003	8,170	9,682	8,260	9,190	-169	1,645	29,209	12,543	10,673	4,640	-25,361	11,523	8,856	-	12,926	-19,797	19,817	-	14,094	17,256	17,476	-	-	8,542	12,628	-	-	-	-	-	-	-	-	-	-
Income tax benefit
-	-	-	-	-	-312	0	1	-32	675	4,464	-25	1,499	1,434	8,939	615	4	-1,615	-1,796	2,918	1,847	-1,200	-237	-446	16	-5,262	722	1,737	1,762	7,624	3,979	384	2,615	7,767	1,289	1,171	1,809	4,068	1,132
NET (LOSS) INCOME FROM CONTINUING OPERATIONS
-196,476	6,424	12,620	9,003	8,170	9,994	8,260	9,189	-137	970	24,745	12,568	9,174	3,206	-34,300	10,908	8,852	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
NET LOSS FROM DISCONTINUED OPERATIONS, NET OF TAX
-45	-39	-63	-112	-37	-40	364	-450	247	-3,284	-6,087	-4,184	-561	-6,728	-11,321	-6,379	5,168	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
NET (LOSS) INCOME
-196,521	6,385	12,557	8,891	8,133	9,954	8,624	8,739	110	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	16,450	14,481	-	-	-	-	-	-
Net income allocated to preferred shares
2,588	2,587	2,588	2,587	2,588	2,587	2,588	2,587	5,210	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
NET INCOME
-	-	-	-	-	-	-	-	-	-	18,658	8,384	8,613	-	-45,621	4,529	14,020	7,206	14,722	-22,715	17,970	12,675	14,331	17,702	17,460	-	24,117	-	-	-	18,460	-	-	-	14,944	9,219	-	14,053	13,362
Net income allocated to preferred shares
2,588	2,587	2,588	2,587	2,588	2,587	2,588	2,587	5,210	6,014	6,014	6,015	6,014	6,014	6,015	6,014	6,048	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Consideration paid in excess of carrying value for preferred shares
-	-	-	-	-	18	0	0	7,482	3,800	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net (income) loss allocated to preferred shares
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,115	6,116	6,091	-	5,545	3,358	2,400	-	1,996	1,800	1,311	-	308	25	0	-	0	0	-	-	-
Carrying value (less than) in excess of consideration paid for preferred shares
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-111	1,611	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net loss allocable to non-controlling interest, net of taxes
-	-	-	-	-	-	-	-	-	0	0	-95	-101	-16	-63	-60	-90	-	1,829	2,180	2,477	-	1,458	-333	-56	-	-	209	-209	-	-	0	0	-	-	-	-	-	-
NET (LOSS) INCOME ALLOCABLE TO COMMON SHARES
-199,109	3,798	9,969	6,304	5,545	7,367	6,036	6,152	-12,582	-12,131	12,644	2,464	2,700	-9,520	-51,573	-1,536	9,673	949	6,778	-31,011	9,402	6,906	7,328	14,677	15,116	-948	22,121	6,533	11,526	14,141	18,152	16,425	14,481	411	14,944	9,219	13,142	-	-
NET INCOME (LOSS) PER COMMON SHARE - BASIC:
CONTINUING OPERATIONS (in dollars per share)
-6.30	0.12	0.32	0.20	0.18	0.24	0.18	0.21	-0.41	-0.30	0.61	0.22	0.11	-0.06	-1.32	0.16	0.12	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
DISCONTINUED OPERATIONS (in dollars per share)
0.00	-	0.00	0.00	0.00	-0.01	0.01	-0.01	0.01	-0.10	-0.20	-0.14	-0.02	-0.25	-0.37	-0.21	0.20	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
TOTAL NET INCOME (LOSS) PER COMMON SHARE - BASIC (in dollars per share)
-6.30	0.12	0.32	0.20	0.18	0.23	0.19	0.20	-0.40	-0.40	0.41	0.08	0.09	-0.31	-1.69	-0.05	0.32	0.01	0.21	-0.94	0.29	0.91	0.23	0.12	0.12	0.98	0.18	0.05	0.11	0.13	0.20	0.20	0.18	-0.01	0.20	0.13	0.22	0.27	0.30
NET INCOME (LOSS) PER COMMON SHARE - DILUTED:
CONTINUING OPERATIONS (in dollars per share)
-6.30	0.12	0.31	0.20	0.18	0.24	0.18	0.21	-0.41	-0.30	0.61	0.22	0.11	-0.06	-1.32	0.16	0.12	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
DISCONTINUED OPERATIONS (in dollars per share)
0.00	-	0.00	0.00	0.00	-0.01	0.01	-0.01	0.01	-0.10	-0.20	-0.14	-0.02	-0.24	-0.37	-0.21	0.19	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
TOTAL NET INCOME (LOSS) PER COMMON SHARE - DILUTED (in dollars per share)
-6.30	0.12	0.31	0.20	0.18	0.23	0.19	0.20	-0.40	-0.40	0.41	0.08	0.09	-0.30	-1.69	-0.05	0.31	0.02	0.21	-0.94	0.28	0.91	0.22	0.11	0.12	0.97	0.18	0.05	0.11	0.13	0.20	0.20	0.18	-0.02	0.20	0.13	0.22	0.27	0.30
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC (in shares)
31,626	31,457	31,445	31,438	31,379	31,236	31,229	31,215	31,111	30,915	30,857	30,820	30,752	30,618	30,528	30,410	30,600	30,939	32,515	32,852	32,814	-156,951	32,413	126,952	125,616	-230,695	124,212	120,738	104,224	99,905	89,066	83,466	81,201	77,027	73,761	70,704	60,147	52,273	44,424
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - DILUTED (in shares)
31,626	31,779	31,714	31,656	31,531	31,541	31,477	31,402	31,111	31,252	31,115	31,020	30,914	30,180	30,528	30,410	31,038	30,241	32,951	32,852	33,076	-158,357	32,806	128,142	126,667	-233,643	126,072	122,283	105,326	101,091	89,965	84,188	81,892	77,546	74,283	71,008	60,397	52,578	44,724
DIVIDENDS DECLARED PER SHARE (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.25	0.25	0.25	0.25	0.25