Office Loans Investment and Deposit Portfolio Analysis
Financial Highlights
Total Loan Volume
National Lending:
Purchased Loans
Originated Loans (2)
Weighted Average Rate as of 6/30/2023 (3)
Net Interest Margin
Purchased Loan Return (4)
Q4 FY23
$138.5 million
Northeast
BANK
YTD FY23
$1.72 billion
$48.8 million invested on $54.3 million of UPB (1)
(89.9% purchase price)
$84.2 million
$1.14 billion invested on $1.31 billion of UPB (1)
(87.0% purchase price)
9.08%
4.91%
8.12%
Net Proceeds from Share Issuances (5)
None
Net Income
$12.1 million
$1.61
EPS (Diluted)
Return on Equity
Return on Assets
Tangible Book Value per Share
(1) Unpaid principal balance.
16.67%
1.70%
$38.69
$557.0 million
9.27%
5.24%
7.93%
193,611 at $41.29
$44.2 million
(2) National Lending originations during Q4 were 100% variable rate, of which 34% were Prime-rate based and 66% were SOFR-based.
National Lending originations for YTD FY23 were 98% variable rate, of which 63% were Prime-rate based.
(3) Q4 and YTD FY23 National Lending originations had a weighted average floor rate of 7.88% and 7.16%, respectively.
(4) Purchased loan return for Q4 and YTD FY23 included $4.8 million and $12.8 million of transactional income, respectively.
(5) During Q2 FY23, the Bank approved an At-the-Market Offering for up to $50.0 million of voting common stock.
$5.96
16.48%
1.88%
$38.69
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