{ "docId": "019de517-e352-747b-9762-0a74ae0959a2", "docSlug": "feb24b9f7493f30af4978892ea7da362", "documentTitle": "Ready Capital | Investor Presentation Deck | 44 slides", "authorId": "ready-capital", "authorName": "Ready Capital", "documentKindSlug": "pitchdeck", "documentKindLabel": "Pitch deck", "sourceTypeSlug": "investor_relations", "sourceTypeLabel": "Investor relations", "presentationDate": "2024-01-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.2938006, "pageNumber": 34, "pageCount": 44, "prevPage": 33, "nextPage": 35, "slideType": "appendix_data", "function": "appendix", "density": "dense", "nDataPoints": 100, "notes": null, "elementsJson": null, "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019de517-e352-747b-9762-0a74ae0959a2/34", "deckHref": "/decks/019de517-e352-747b-9762-0a74ae0959a2", "deckJsonHref": "/decks/019de517-e352-747b-9762-0a74ae0959a2.json", "deckAnchorHref": "/decks/019de517-e352-747b-9762-0a74ae0959a2#slide-34", "components": [ { "bbox": { "h": 0.01, "w": 0.43, "x": 0.049, "y": 0.935 }, "kind": "source-note", "text": "Note: Does not include the effect of the Broadmark acquisition for any periods prior to May 31, 2023", "attrs": {}, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "cf9133e0-8385-412f-957b-1ccaa2eb856c", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.012, "w": 0.229, "x": 0.049, "y": 0.199 }, "kind": "subtitle", "text": "(In Thousands, except share data)", "attrs": {}, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "f60a010b-af7a-43f9-ba7d-aa4e076ea3ea", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.705, "w": 0.901, "x": 0.049, "y": 0.22 }, "kind": "table", "text": "Interest income $207,068 $217,573 $232,884 $250,590 Interest expense (143,435) (160,394) (172,534) (191,612) Net interest income before (provision for) recovery of loan losses $63,633 $57,179 $60,350 $58,978 Recovery of (provision for) loan losses (33,859) 6,734 (19,427) 12,151 Net interest income after (provision for) recovery of loan losses $29,774 $63,913 $40,923 $71,129 Non-interest income Residential mortgage banking activities $549 $9,169 $9,884 $7,059 Net realized gain (loss) on financial instruments and real estate owned 3,529 11,575 23,878 14,402 Net unrealized gain (loss) on financial instruments 9,430 (11,728) 7,407 17,684 Servicing income, net of amortization and impairment 8,643 14,003 14,432 16,033 Income on purchased future receivables, net 540 86 904 Income on unconsolidated joint venture 501 656 33 56 Gain (loss) on bargain purchase 229,894 (14,862) Other income 19,771 19,883 18,569 18,315 Total non-interest income $42,420 $44,098 $304,183 $59,591 Non-interest expense Employee compensation and benefits ($19,228) ($25,139) ($27,709) ($24,868) Allocated employee compensation and benefits from related party (3,000) (2,326) (2,500) (3,001) Variable income (expenses) on residential mortgage banking activities 1,168 (5,485) (6,574) (4,091) Professional fees (5,251) (5,717) (5,656) (7,810) Management fees - related party (5,224) (5,081) (5,760) (7,229) Incentive fees - related party (2,156) (1,720) (71) Loan servicing expense (10,123) (9,963) (13,115) (15,818) Transaction related expenses (5,027) (893) (13,966) (2,329) Other operating expenses (12,881) (14,318) (11,241) (14,368) Total non-interest expense ($61,722) ($70,642) ($86,592) ($79,514) Income before provision for income taxes $10,472 $37,369 $258,514 $51,206 Income tax provision 3,210 (391) (5,141) (4,027) Net income $13,682 $36,978 $253,373 $47,179 Less: Dividends on preferred stock 1,999 1,999 2,000 1,999 Less: Net income attributable to non-controlling interest 2,228 1,835 4,490 1,517 Net income attributable to Ready Capital Corporation $9,455 $33,144 $246,883 $43,663 Earnings per common share - basic $0.08 $0.30 $1.87 $0.25 Earnings per common share – diluted $0.09 $0.29 $1.76 $0.25 Weighted-average shares outstanding - Basic 110,739,644 110,672,939 131,651,125 171,973,933 Weighted-average shares outstanding - Diluted 121,062,323 121,025,909 141,583,837 174,440,867 Dividends declared per share of common stock $0.40 $0.40 $0.40 $0.36", "attrs": {}, "subkind": "data", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "1e1619ed-1753-4d05-8e90-2c945a38910e", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.44, "x": 0.049, "y": 0.13 }, "kind": "title", "text": "Income Statement—TTM", "attrs": {}, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "0bf9f426-7023-43d1-bb03-f766a91224d9", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 37, "from": 30, "beatId": "edb6acb0-7b36-44a2-9977-b99caf34f5c8", "arcName": "The Sequoia Pitch", "arcSlug": "sequoia-pitch", "beatName": "Financials", "beatSlug": "sequoia-pitch-financials", "evidence": "The financial summary section provides an overview of the company's balance sheet and income statement.", "position": 3, "confidence": 0.8, "parentBeatName": "Evidence", "parentBeatSlug": "evidence" } ], "loops": [ { "to": 44, "from": 3, "name": "Golden Circle", "slug": "11-golden-circle", "bestFor": "Visionary leadership, brand positioning, mission statements", "matchId": "683999a5-646d-4eda-a9d3-65d5179730d7", "evidence": "The deck uses a golden circle structure to present the company's why, how, and what.", "position": 0, "objective": "Why Ready Capital is a good investment opportunity", "structure": "The Why (Belief) -> The How (Process) -> The What (Result)", "confidence": 0.7, "description": "Invert the typical pitch by starting with why you exist, rather than what you do" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }