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AGNC INVESTMENT CORP. ANNOUNCES FIRST QUARTER 2022 FINANCIAL RESULTS
BETHESDA, Md., May 2, 2022 /PRNewswire/ -- AGNC Investment Corp. ("AGNC" or the "Company") (Nasdaq: AGNC) today announced financial results for the quarter
About this update from Agnc Investment Corp.
[{"type":"text","content":"BETHESDA, Md., May 2, 2022 /PRNewswire/ -- AGNC Investment Corp. (\"AGNC\" or the \"Company\") (Nasdaq: AGNC) today announced financial results for the quarter ended March 31, 2022.\n FIRST QUARTER 2022 FINANCIAL HIGHLIGHTS \n$(2.23) comprehensive loss per common share, comprised of:$(1.29) net loss per common share$(0.94) other comprehensive loss (\"OCI\") per common share on investments marked-to-market through OCI$0.72 net spread and dollar roll income per common share, excluding estimated \"catch-up\" premium amortization benefit 1Includes $0.29 per common share of dollar roll income associated with the Company's $23.6 billion average net long position in Agency mortgage-backed securities (\"MBS\") in the \"to-be-announced\" (\"TBA\") marketExcludes $0.30 per common share of estimated \"catch-up\" premium amortization benefit due to change in projected constant prepayment rate (\"CPR\") estimates$13.12 tangible net book value per common share as of March 31, 2022Decreased $(2.63) per common share, or -16.7%, from $15.75 per common share as of December 31, 2021$0.36 dividends declared per common share for the first quarter-14.4% economic return on tangible common equity for the quarterComprised of $0.36 dividends per common share and $(2.63) decrease in tangible net book value per common shareOTHER FIRST QUARTER HIGHLIGHTS \n$68.6 billion investment portfolio as of March 31, 2022, comprised of:$47.4 billion Agency MBS$19.5 billion net TBA mortgage position$1.7 billion credit risk transfer (\"CRT\") and non-Agency securities7.5x tangible net book value \"at risk\" leverage as of March 31, 20227.8x average tangible net book value \"at risk\" leverage for the quarterCash and unencumbered Agency MBS totaled approximately $3.5 billion as of March 31, 2022Excludes unencumbered CRT and non-Agency securities and assets held at the Company's broker-dealer subsidiary, Bethesda Securities7.9% average projected portfolio life CPR as of March 31, 202214.5% actual portfolio CPR for the quarter2.19% annualized net interest spread and TBA dollar roll income for the quarter, excluding estimated \"catch-up\" premium amortization benefitExcludes 82 bps of \"catch-up\" premium amortization benefit due to change in projected CPR estimates___________\n1.\nRepresents a non-GAAP measure. Please refer to a reconciliation to the most applicable GAAP m...