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Income Overview
Net Income
-$236,911K
EPS
-$1.44
Unit: Thousand (K) dollars
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Page 1
Annual
123
Page 1
Income Statement
2025-12-31
2024-12-31
Interest income
569,166
896,975
Interest expense
514,125
696,455
Net interest income before provision for loan losses
55,041
200,520
Provision for loan losses
87,038
292,759
Net interest income after provision for loan losses
-31,997
-92,239
Net realized gain (loss) on financial instruments and real estate owned
-142,112
-54,000
Net unrealized gain (loss) on financial instruments
-13,153
-14,991
Valuation allowance, loans held for sale
-
124,878
Valuation recovery (allowance), loans held for sale
-15,443
-
Servicing income, net of amortization and impairment of 29,919, 21,972 and 7,911
18,703
16,556
Gain on bargain purchase
-
13,859
Bargain purchase gain
109,549
-
Income (loss) on unconsolidated joint ventures
4,562
10,886
Other income
53,716
50,803
Total non-interest income (expense)
46,708
-101,765
Employee compensation and benefits and allocated employee compensation and benefits from related party-Nonrelated Party
89,487
82,522
Employee compensation and benefits and allocated employee compensation and benefits from related party-Related Party
14,828
11,387
Professional fees
30,837
26,887
Management fees related party-Related Party
20,348
24,862
Incentive fees related party-Related Party
0
0
Loan servicing expense
41,258
46,656
Transaction related expenses
6,050
10,118
Impairment on real estate
23,503
56,503
Other operating expenses
90,956
63,572
Total non-interest expense
317,267
322,507
Income (loss) from continuing operations before benefit for income taxes
-302,556
-516,511
Income tax benefit (provision)
-86,703
-104,512
Net income (loss) from continuing operations
-215,853
-411,999
Loss from discontinued operations before income tax benefit
-6,944
-24,532
Income tax benefit
-1,736
-6,133
Net loss from discontinued operations
-5,208
-18,399
Net income (loss)
-221,061
-430,398
Less dividends on preferred stock
7,996
7,996
Less net income attributable to non-controlling interest
7,854
5,357
Net income (loss) attributable to ready capital corporation
-236,911
-443,751
Basic EPS
-1.44
-2.63
Diluted EPS
-1.44
-2.63
Basic Average Shares
164,544,350
169,107,477
Diluted Average Shares
167,259,712
170,472,273
Page 1
Unit: Thousand (K) dollars (except for numbers of shares and EPS).
Page 1
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Time Plot
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Income Statement
1
2
Net income (loss)
attributable to ready capital...
-$236,911K
(46.61%↑ Y/Y)
Net income (loss)
-$221,061K
(48.64%↑ Y/Y)
Less dividends on
preferred stock
$7,996K
(0.00%↑ Y/Y)
Less net income
attributable to...
$7,854K
(46.61%↑ Y/Y)
Bridge Loan
$313,777K
(-43.44%↓ Y/Y)
SBA7a
$107,492K
(-11.24%↓ Y/Y)
Construction Loans
$51,914K
(-51.20%↓ Y/Y)
Fixed Rate Loans
$38,197K
(-18.55%↓ Y/Y)
Other Loans
$23,866K
(-23.19%↓ Y/Y)
Originated Paycheck
Protection Program Loans...
$1,138K
(79.21%↑ Y/Y)
SBA7a
$9,201K
(8.20%↑ Y/Y)
Bridge Loan
$3,457K
(-99.38%↓ Y/Y)
Other Loans
$1,620K
(47.54%↑ Y/Y)
Construction Loans
$326K
(-96.07%↓ Y/Y)
Fixed Rate Loans
$26K
(-94.97%↓ Y/Y)
Interest And Fee Income
Loan And Lease Fair...
$121K
(-83.93%↓ Y/Y)
Net income (loss)
from continuing...
-$215,853K
(47.61%↑ Y/Y)
Net loss from
discontinued operations
-$5,208K
(71.69%↑ Y/Y)
Income tax benefit
(provision)
-$86,703K
(17.04%↑ Y/Y)
Income tax benefit
-$1,736K
(71.69%↑ Y/Y)
Bargain purchase gain
$109,549K
Other income
$53,716K
(5.73%↑ Y/Y)
Servicing income, net of
amortization and impairment...
$18,703K
(12.97%↑ Y/Y)
Valuation recovery
(allowance), loans held for...
-$15,443K
Loans, net
$536,384K
(-37.69%↓ Y/Y)
Loans, held for sale
$14,630K
(-20.51%↓ Y/Y)
Preferred equity
investments
$13,241K
(3.31%↑ Y/Y)
Mbs
$4,790K
(20.02%↑ Y/Y)
Loans, held at fair
value-Other Loans
$121K
(-83.93%↓ Y/Y)
Income (loss) on
unconsolidated joint ventures
$4,562K
(-58.09%↓ Y/Y)
Income (loss) from
continuing operations...
-$302,556K
(41.42%↑ Y/Y)
Loss from
discontinued operations...
-$6,944K
(71.69%↑ Y/Y)
Total non-interest
income (expense)
$46,708K
(145.90%↑ Y/Y)
Net realized gain
(loss) on financial...
-$142,112K
(-163.17%↓ Y/Y)
Interest income
$569,166K
(-36.55%↓ Y/Y)
Net unrealized gain
(loss) on financial...
-$13,153K
(12.26%↑ Y/Y)
Total non-interest
expense
$317,267K
(-1.62%↓ Y/Y)
Net interest income
after provision for...
-$31,997K
(65.31%↑ Y/Y)
Net interest income
before provision for...
$55,041K
(-72.55%↓ Y/Y)
Interest expense
$514,125K
(-26.18%↓ Y/Y)
Other operating
expenses
$90,956K
(43.08%↑ Y/Y)
Employee compensation
and benefits and...
$89,487K
(8.44%↑ Y/Y)
Loan servicing
expense
$41,258K
(-11.57%↓ Y/Y)
Professional fees
$30,837K
(14.69%↑ Y/Y)
Impairment on real estate
$23,503K
(-58.40%↓ Y/Y)
Management fees related
party-Related Party
$20,348K
(-18.16%↓ Y/Y)
Employee compensation
and benefits and...
$14,828K
(30.22%↑ Y/Y)
Transaction related
expenses
$6,050K
(-40.21%↓ Y/Y)
Provision for loan losses
$87,038K
(-70.27%↓ Y/Y)
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Ready Capital Corp (RCB)
Ready Capital Corp (RCB)