{ "docId": "019de518-2832-70d9-88e1-897b392f2061", "docSlug": "85b45b6de057496c4a9aef50afdb4b9a", "documentTitle": "Ready Capital | Results Presentation Deck | 19 slides", "authorId": "ready-capital", "authorName": "Ready Capital", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "investor_relations", "sourceTypeLabel": "Investor relations", "presentationDate": "2024-02-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.2938006, "pageNumber": 17, "pageCount": 19, "prevPage": 16, "nextPage": 18, "slideType": "revenue_buildup", "function": "decompose_segments", "density": "dense", "nDataPoints": 150, "notes": null, "elementsJson": null, "metadataConfidence": 0.9, "imagePath": null, "slideHref": "/slides/019de518-2832-70d9-88e1-897b392f2061/17", "deckHref": "/decks/019de518-2832-70d9-88e1-897b392f2061", "deckJsonHref": "/decks/019de518-2832-70d9-88e1-897b392f2061.json", "deckAnchorHref": "/decks/019de518-2832-70d9-88e1-897b392f2061#slide-17", "components": [ { "bbox": { "h": 0.03, "w": 0.209, "x": 0.759, "y": 0.06 }, "kind": "image", "text": "READY CAPITAL.", "attrs": null, "subkind": "logo", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "8cc8e0f8-8c06-48d4-941d-a588f733ee29", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.013, "w": 0.018, "x": 0.935, "y": 0.95 }, "kind": "source-note", "text": "17", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "2c0563e3-b436-4d37-9c5e-e8b424ee48fc", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.75, "w": 0.799, "x": 0.147, "y": 0.16 }, "kind": "table", "text": "(In thousands, except share data)\nQ4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023\nInterest income $ 205,275 $ 215,968 $ 231,004 $ 248,711 $ 250,130\nInterest expense (141,683) (158,867) (170,221) (189,788) (197,591)\nNet interest income before (provision for) recovery of loan losses $ 63,592 $ 57,101 $ 60,783 $ 58,923 $ 52,539\nRecovery of (provision for) loan losses (33,859) 6,734 (19,427) 12,151 (6,688)\nNet interest income after (provision for) recovery of loan losses $ 29,733 $ 63,835 $ 41,356 $ 71,074 $ 45,851\nNon-interest income\nNet realized gain (loss) on financial instruments and real estate owned $ 3,526 $ 11,575 $ 23,878 $ 14,402 $ 15,153\nNet unrealized gain (loss) on financial instruments 12,598 (5,635) (1,411) 15,121 1,643\nServicing income, net of amortization and impairment (156) 4,642 5,039 6,867 4,613\nIncome on purchased future receivables, net 540 86 304 857\nIncome on unconsolidated joint ventures 501 656 33 56 (1,650)\nGain (loss) on bargain purchase 229,894 (14,862) (7,060)\nOther income 19,793 19,852 18,546 18,272 46,458\nTotal non-interest income $ 36,262 $ 31,630 $ 276,065 $ 40,760 $ 60,014\nNon-interest expense\nEmployee compensation and benefits $ (14,705) $ (19,727) $ (22,414) $ (19,979) $ (19,410)\nAllocated employee compensation and benefits from related party (3,000) (2,326) (2,500) (3,001) (3,010)\nProfessional fees (5,080) (5,543) (5,533) (7,666) (15,997)\nManagement fees - related party (5,224) (5,081) (5,760) (7,229) (7,035)\nIncentive fees - related party (2,156) (1,720) (71)\nLoan servicing expense (8,270) (8,155) (10,894) (12,541) (9,221)\nTransaction related expenses (5,027) (893) (13,966) (2,323) (576)\nOther operating expenses (11,466) (12,609) (9,557) (12,760) (24,806)\nTotal non-interest expense $ (54,928) $ (56,054) $ (70,695) $ (65,505) $ (80,055)\nIncome from continuing operations before provision for income taxes $ 11,067 $ 39,411 $ 246,726 $ 46,329 $ 25,810\nIncome tax benefit (provision) 3,061 (902) (2,194) (2,808) (1,236)\nNet income from continuing operations $ 14,128 $ 38,509 $ 244,532 $ 43,521 $ 24,574\nDiscontinued operations\nIncome (loss) from discontinued operations before benefit (provision) for income taxes $ (595) (2,042) 11,788 4,877 (18,258)\nIncome tax benefit (provision) 149 511 (2,347) (1,219) 4,565\nNet income (loss) from discontinued operations $ (446) $ (1,531) $ 8,841 $ 3,658 $ (13,693)\nNet income $ 13,682 $ 36,978 $ 253,373 $ 47,179 $ 10,881\nLess: Dividends on preferred stock 1,999 1,999 2,000 1,999 1,999\nLess: Net income attributable to non-controlling interest 2,228 1,835 4,490 1,517 1,118\nNet income attributable to Ready Capital Corporation $ 9,455 $ 33,144 $ 246,883 $ 43,663 $ 7,764\nEarnings per common share from continuing operations - basic $ 0.09 $ 0.31 $ 1.81 $ 0.23 $ 0.12\nEarnings per common share from discontinued operations - basic $ (0.00) $ (0.01) $ 0.07 $ 0.02 $ (0.08)\nEarnings per common share from continuing operations - diluted $ 0.10 $ 0.30 $ 1.70 $ 0.23 $ 0.12\nEarnings per common share from discontinued operations - diluted $ (0.00) $ (0.01) $ 0.06 $ 0.02 $ (0.08)\nWeighted-average shares outstanding - Basic 110,739,644 110,672,939 131,651,125 171,973,933 172,116,989\nWeighted-average shares outstanding - Diluted 121,062,323 121,025,909 141,583,837 174,440,869 173,957,731\nDividends declared per share of common stock $ 0.40 $ 0.40 $ 0.40 $ 0.36 $ 0.30", "attrs": null, "subkind": "data", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "01f5fd32-bdee-4352-9c2c-271afe8a8edf", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.428, "x": 0.049, "y": 0.08 }, "kind": "title", "text": "Statement of Income by Quarter", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "b3208eff-adb4-4846-bdc6-a058e23789e2", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [ { "name": "Table data", "slug": "table-data", "agent": null, "layer": "slide", "matchId": "a2ad7087-f621-4711-9e51-befaaa97c78b", "evidence": "table/data: (In thousands, except share data)", "confidence": 0.9 } ], "frameworks": [], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }