EXANTAS CAPITAL CORP. XAN Income Statement

Exantas capital corp. (XAN)

Income statement / TTM

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
117,758	118,060	119,775	113,713	108,760	103,800	97,255	92,712	89,118	88,268	85,991	85,801	85,781	85,229	68,980	79,714	87,652	99,334	110,676	105,205	101,665	89,231	94,559	91,907	91,872	99,455	116,643	116,399	113,227	109,030	96,792	91,525	89,104	86,739	80,301	80,827	0	0	0
Securities
25,964	26,190	25,284	23,905	21,519	18,600	16,081	12,525	9,649	8,501	13,991	16,932	19,894	22,384	17,605	17,869	19,078	18,332	19,120	19,422	17,313	17,265	15,923	14,166	14,671	14,309	14,725	14,878	14,533	14,296	13,846	13,665	13,069	12,424	12,234	11,746	0	0	0
Leases
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	258	95	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Leases
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Leases
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Other
522	636	629	614	475	379	346	592	1,037	2,549	3,194	3,567	5,398	5,005	5,608	5,834	4,657	4,252	4,223	4,902	4,765	6,785	6,543	5,545	5,198	4,212	4,950	6,519	9,041	10,004	12,081	13,762	12,321	10,711	8,736	5,085	0	0	0
Total interest income
144,244	144,886	145,688	138,232	130,754	122,779	113,682	105,829	99,804	99,318	103,176	106,300	111,073	112,618	91,943	103,159	111,292	121,918	134,269	129,787	123,838	113,281	117,025	111,618	111,741	117,976	136,318	137,796	136,801	133,330	122,719	118,952	114,494	109,874	105,885	104,200	0	0	0
Interest expense
82,836	83,837	83,439	78,049	72,627	67,616	63,068	59,599	57,787	57,657	55,800	55,600	54,699	53,747	49,896	52,573	54,930	56,530	58,782	53,960	48,767	43,493	58,695	58,949	59,473	61,010	51,393	47,839	45,574	42,792	36,476	35,443	33,636	32,186	31,259	33,013	0	0	0
Net interest income
61,408	61,049	62,249	60,183	58,127	55,163	50,614	46,230	42,017	41,661	47,376	50,700	56,374	58,871	42,047	50,586	56,362	65,388	75,487	75,827	75,071	69,788	58,330	52,669	52,268	56,966	84,925	89,957	91,227	90,538	86,243	83,509	80,858	77,688	74,626	71,187	0	0	0
Other expense
-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other revenue
98	101	102	229	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other revenue
-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Rental income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,441	11,825	15,356	18,901	19,923	20,696	18,736	15,718	11,463	8,526	7,429	5,552	3,656	1,772	180	0	0	0
Gain (loss) on sale of residential mortgage loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividend income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-137	68	67	-	67	66	66	186	186	393	393	273	274	68	68	69	643	1,552	2,401	3,045	2,453	1,527	0	0	0
Fee income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,467	2,213	4,267	-	3,492	5,055	4,561	5,891	8,805	7,706	6,911	5,821	5,722	6,254	6,868	7,068	7,458	7,641	7,753	7,789	5,859	3,899	0	0	0
Total revenues
61,506	61,150	62,364	60,298	58,368	55,283	50,722	46,443	43,042	43,709	50,991	55,032	60,522	62,680	41,223	52,867	60,696	70,319	82,864	82,730	82,987	84,306	81,856	79,831	77,650	82,983	94,492	106,375	110,990	109,138	121,093	108,872	104,086	95,986	84,710	76,793	0	0	0
OPERATING EXPENSES
Management fees
8,988	8,954	9,674	9,959	10,520	11,250	11,313	13,424	13,250	13,117	13,044	11,173	11,634	12,991	13,183	13,382	13,783	13,306	13,896	14,250	14,064	13,584	13,214	14,721	14,322	14,220	16,006	16,414	18,047	18,512	15,912	13,527	12,127	11,022	13,027	14,179	0	0	0
Equity compensation
2,027	2,212	1,981	2,186	2,433	2,717	2,704	2,842	2,917	2,738	1,899	2,706	3,324	3,025	4,402	2,475	1,914	2,420	2,997	4,020	5,261	5,933	7,103	8,425	8,548	10,472	9,090	8,374	7,359	4,636	4,539	3,451	2,934	2,526	1,943	1,824	0	0	0
Professional services
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	0	0	-	3,023	3,275	0	0	0
Insurance
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	0	0	-	681	700	0	0	0
Rental operating
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	281	976	2,053	5,443	8,146	10,974	13,521	14,062	14,674	12,978	10,663	8,046	5,804	5,042	3,918	2,743	1,395	330	0	0	0
Lease operating
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	14	47	23	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
General and administrative
11,197	10,392	9,881	10,131	10,183	10,666	12,010	14,010	15,043	15,846	16,016	15,187	15,418	15,197	-3,882	2,834	9,017	16,346	34,587	28,080	22,836	14,705	18,662	16,234	13,866	14,507	13,547	13,103	12,191	9,773	8,582	9,011	8,662	8,399	3,915	3,506	0	0	0
General and administrative - PCM
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation on operating leases
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Depreciation and amortization
38	47	48	76	88	77	81	71	84	139	458	796	1,125	1,566	3,665	3,929	4,189	4,245	2,014	1,948	2,087	2,358	2,972	3,314	3,553	3,855	4,952	5,297	5,662	5,885	5,728	6,335	5,727	4,619	2,865	1,009	0	0	0
Impairment losses
-	-	-	-	-	-	-	-	-	-	1,350	26,647	26,647	-	25,610	313	313	372	59	59	59	0	52	307	842	863	811	565	62	180	0	0	0	-	-	0	-	-	-
Provision for (recovery of) loan and lease losses, net
-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision (recovery) for loan and lease losses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net realized and unrealized gain on investment securities, trading
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Provision for credit losses, net
15,182	58	-277	399	229	-1,595	-1,872	0	0	-	0	-	-	-	-	-	-	41,088	47,285	47,690	9,662	1,712	740	42	-1,982	3,020	9,558	10,187	15,682	16,818	13,780	13,608	13,468	13,896	11,012	17,711	0	0	0
Total operating expenses
37,432	21,663	22,241	23,685	24,387	24,049	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total operating expenses
-	-	-	-	-	-	-	-	-	-	43,411	75,327	76,982	-	47,851	21,245	66,215	77,777	88,938	89,506	52,619	43,735	57,253	58,082	54,334	60,999	79,053	79,986	82,157	78,452	84,096	76,607	69,483	62,139	36,844	35,346	0	0	0
Net interest and other revenues less operating expenses
24,074	39,487	40,123	36,613	33,981	31,234	24,620	16,253	11,774	9,920	7,580	-20,295	-16,460	-14,334	-6,628	31,622	-5,519	-7,458	-6,074	-6,776	30,368	40,571	0	0	0	-	-	0	0	-	-	-	-	33,847	47,866	41,447	0	0	0
OTHER INCOME (EXPENSE)
Equity in earnings of unconsolidated entities
-	-	-	-	-	217	-1,514	39,079	38,892	39,545	41,313	1,298	4,112	5,973	6,636	5,938	3,904	2,388	1,806	2,359	3,459	4,767	6,470	5,078	3,388	949	-2,098	-2,372	-4,205	-2,709	0	0	0	-	-	-	-	-	-
Net realized and unrealized loss on investment securities available-for-sale and loans and derivatives
0	-	-	0	-	639	-896	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net impairment losses recognized in earnings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-
Impairment losses on real property held for sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Net realized and unrealized gain on investment securities available-for-sale and loans and derivatives
-	-	-	-	-	-	-	-	-	-	-	18,663	10,819	-	-5,533	-2,601	5,345	18,459	24,967	26,736	18,804	6,925	14,244	10,588	11,334	9,637	5,313	5,089	4,117	4,106	348	593	2,867	2,643	5,614	5,213	0	0	0
Net realized and unrealized gain on investment securities, trading
-	-	-	-	-	-	0	60	-48	-	1,342	1,109	1,342	2,398	-2,234	-2,572	-2,476	-547	789	1,745	816	-2,818	-1,294	-1,899	-3,000	-324	-1,779	8,232	11,407	12,435	11,489	3,180	0	-	0	0	-	-	-
Fair value adjustments on financial assets held for sale
8,371	4,682	2,389	3,922	2,613	7,176	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fair value adjustments on financial assets held for sale
8,371	4,682	2,389	3,922	2,613	7,176	8,133	6,545	6,475	1,831	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Unrealized gain and net interest income on linked transactions, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	235	591	768	5,780	7,850	7,996	8,980	-1,277	-3,841	-4,001	-5,029	350	728	0	0	0	-	-	-	-	-	-
Operating income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	0	-	-	-	-	-	-	-
Loss on extinguishment of debt
-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	-	-	-1,403	-3,376	-4,911	-5,273	-4,442	-2,469	-602	-69	0	0	5,464	0	-	0	0	-	-	0	0	-	0	0
Other expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-
(Loss) gain on sale of real estate
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	0	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of real estate
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-
Other (expense) income
1,221	1,408	1,681	1,631	2,086	1,996	600	-147	-636	-579	-536	1,662	1,683	1,555	1,486	0	0	-	0	-	-	-1,262	15,345	0	0	-	0	-	0	-	0	0	-	-6	-763	311	0	0	0
Total other expense
-192,503	-3,270	-648	-1,498	1,321	-4,271	-5,694	23,622	31,454	44,150	49,485	22,790	17,935	13,992	1,133	1,170	6,991	19,891	27,912	29,782	29,691	17,147	0	0	0	-	-	0	0	-	-	-	-	3,869	3,492	8,329	0	0	0
(LOSS) INCOME FROM CONTINUING OPERATIONS BEFORE TAXES
-168,429	36,217	39,475	35,115	35,302	26,963	18,926	39,875	43,228	54,070	57,065	2,495	1,475	-342	0	0	0	-	0	0	0	-	0	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-
Income tax benefit
-	-	-	-	-	-343	644	5,108	5,082	6,613	7,372	11,847	12,487	10,992	7,943	-2,792	-489	1,354	1,769	3,328	-36	-1,867	-5,929	-4,970	-2,787	-1,041	11,845	15,102	13,749	14,602	14,745	12,055	12,842	12,036	8,337	8,180	0	0	0
NET (LOSS) INCOME FROM CONTINUING OPERATIONS
-168,429	36,217	39,787	35,427	35,613	27,306	18,282	34,767	38,146	47,457	49,693	-9,352	-11,012	-11,334	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
NET LOSS FROM DISCONTINUED OPERATIONS, NET OF TAX
-259	-251	-252	175	-163	121	-3,123	-9,574	-13,308	-14,116	-17,560	-22,794	-24,989	-19,260	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
NET (LOSS) INCOME
-168,688	35,966	39,535	35,602	35,450	27,427	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-
Net income allocated to preferred shares
10,350	10,350	10,350	10,350	10,350	12,972	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
NET INCOME
-	-	-	-	-	-	-	-	-	-	32,133	-32,146	-36,001	-	-19,866	40,477	13,233	17,183	22,652	22,261	62,678	62,168	73,610	0	0	-	0	-	-	-	0	-	-	-	0	0	-	0	0
Net income allocated to preferred shares
10,350	10,350	10,350	10,350	10,350	12,972	16,399	19,825	23,253	24,057	24,057	24,058	24,057	24,091	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Consideration paid in excess of carrying value for preferred shares
-	-	-	-	-	7,500	11,282	11,282	11,282	3,800	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net (income) loss allocated to preferred shares
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	0	0	0	-	333	25	0	-	0	0	-	-	-
Carrying value (less than) in excess of consideration paid for preferred shares
-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,500	1,500	1,611	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net loss allocable to non-controlling interest, net of taxes
-	-	-	-	-	-	-	-	-	-196	-212	-275	-240	-229	0	0	0	-	0	0	0	-	0	0	0	-	-	0	0	-	-	0	0	-	-	-	-	-	-
NET (LOSS) INCOME ALLOCABLE TO COMMON SHARES
-179,038	25,616	29,185	25,252	25,100	6,973	-12,525	-5,917	-9,605	5,677	8,288	-55,929	-59,929	-52,956	-42,487	15,864	-13,611	-13,882	-7,925	-7,375	38,313	44,027	36,173	50,966	42,822	39,232	54,321	50,352	60,244	63,199	49,469	46,261	39,055	37,716	0	0	0	-	-
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