For the year ending 2025-12-31.
| 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 | ||
Ready Capital Corp (RCB)
Ready Capital Corp (RCB)