Firm Capital Mortgage Investment Corporation Announces Q2/2025 Results, as Well as the Declaration of October, and November Monthly Cash Dividends

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[{"type":"text","content":"Firm Capital Mortgage Investment Corporation Announces Q2/2025 Results, as Well as the Declaration of October, and November Monthly Cash Dividends\n\n\n\n TORONTO, Aug. 07, 2025 (GLOBE NEWSWIRE) -- Firm Capital Mortgage Investment Corporation (the “Corporation”) (TSX FC, FC.DB.J ,FC.DB. K and FC.DB.L) today released its financial statements for the six months ended June 30, 2025.\n \n\n\n\n NET INCOME\n \n\n\n\n For the three months ended June 30, 2025, net income increased by 13.4% to $9,674,154 as compared to $8,533,772 for the same period in 2024. Net income for the six months ended June 30, 2025 increased by 14.9% to $19,647,419, as compared to $17,103,556 reported for the same period in 2024.\n \n\n\n\n EARNINGS PER SHARE\n \n\n\n\n Basic weighted average earnings per share for the three months ended June 30, 2025 was $0.263, as compared to the $0.247 per share reported for the three months ended June 30, 2024. Distributions per share to shareholders for the second quarter ended June 30, 2025 totaled $0.234.\n \n\n For the six months ended June 30, 2025, the Corporation reported income in excess of distributions by approximately $2.46 million, or $0.07 per share.\n \n\n\n\n PORTFOLIO\n \n\n\n\n The Corporation’s investment portfolio decreased by 4.5% to $624.4 million as at June 30, 2025, in comparison to $653.8 million as at December 31, 2024 (in each case, gross impairment allowance, fair value adjustment, and unamortized fees). For the six months ended June 30, 2025, new investment funding was $133.4 million (2024 – $173.4 million), and repayments were $162.8 million (2024 – $111.2 million). On June 30, 2025, the Investment Portfolio was comprised of 257 investments (2024 – 286). The average gross investment size was approximately $2.4 million, with 18 investments individually exceeding $7.5 million.\n \n\n\n\n ALLOWANCE FOR EXPECTED CREDIT LOSSES AND FAIR VALUE ADJUSTMENTS\n \n\n\n\n The allowance for expected credit losses and fair value adjustment as of June 30, 2025 was $32.9 million (December 31, 2024 – $29.6 million), comprising (i) $26.1 million (December 31, 2024 – $21.9 million) representing the total amount of management’s estimate of the shortfall between the investment balances and the estimated recoverable amount from the security under the speci...

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