Slide 1: Supplemental Financial Data Q2 2022
SUPPLEMENTAL FINANCIAL DATAQ2 2022
Slide 2: Disclaimer
2DisclaimerThispresentationcontainsstatementsthatconstitute“forward-lookingstatements,”assuchtermisdefinedinSection27AoftheSecuritiesActof1933,asamended,andSection21EoftheSecuritiesExchangeActof1934,asamended,andsuchstatementsareintendedtobecoveredbythesafeharborprovidedbythesame.Thesestatementsareb
Slide 3: Second Quarter 2022 Results
3Second Quarter 2022 Results Net income of $59.0 million1, or $0.47 per common share Distributable earnings of $60.1 million1, or $0.48 per common shareDeclared dividend of $0.42 per common share Earnings / Dividends Return on Equity2of 12.8%Distributable Return on Equity3of 13.1%Dividend Yiel
Slide 4: Second Quarter 2022 Results (continued)
4Second Quarter 2022 Results (continued) Total liquidity of $238million1including cash, anticipated proceeds from liquidations and committed advances Current Liquidity Closeda$754.2millioncommercialmortgagecollateralizedloanobligation,consistingof25first-lienfloatingrateloansoriginatedbyRCCloseda
Slide 5: Return on Equity
5Return on Equity1.Leveredyieldincludesinterestincome,accretionofdiscount,MSRcreation,incomefromunconsolidatedjointventures,realizedgains(losses)onloansheldforsale,unrealizedgains(losses)onloansheldforsaleandservicingincomenetofinterestexpenseandamortizationofdeferredfinancingcostsonanannualizedbasi
Slide 6: Diversified, Complementary, & Scalable Platforms
6Diversified, Complementary, & Scalable Platforms 11%62%5%1%9%9%3% Fixed rate/CMBS Bridge Construction Freddie Mac Other Small Business Lending Residential Mortgage Banking PORTFOLIO BREAKDOWN1 REVENUE BREAKDOWN2 ($ in thousands) $9,185$38,698$10,000$7,901$10,601$34,750$16,049$0$10,000$20,000$30,000
Slide 7: SBC and SBA Investment by Platform
7SBC and SBA Investment by Platform $148.7$144.3$135.7$101.0$128.8$53.6$104.9$98.2$60.9$5.9$240.5$240.3$613.1$197.4$257.0$807.2$730.4$1,529.2$1,936.6$955.2$168.0$29.0$5.2$1.5$31.4$0$400$800$1,200 $1,600 $2,000 $2,400Q2'21Q3'21Q4'21Q1'22Q2'22 SBA Fixed Rate/CMBS Freddie Mac Bridge Acquired Other $2,3
Slide 8: SBC Lending and Acquisitions
8SBC Lending and Acquisitions1.Excludes joint venture investments2.75% of fixed rate loans match funded3. Includes realized and unrealized gains (losses) on loans held for sale and MSR creation4. Includes interest income, accretion of discount, and servicing income net of interest expense and amorti
Slide 9: Small Business Lending
9Small Business Lending GROSS LEVERED YIELD LOAN COUNTUPBBOOK VALUEWA LTVWA COUPONFIXED/FLOAT60+ Days Past Due2,117$590M$551M89.1%5.5%0.3 / 99.7%1.2% CURRENT QUARTER HIGHLIGHTS 18.6%20.7%16.5%17.6%15.2%80.6%55.4%33.2%25.7%27.6%0%20%40%60%80%100%Q2 2021Q3 2021Q4 2021Q1 2022Q2 2022 Gross levered yield
Slide 10: Loan Portfolio Composition
10Loan Portfolio Composition 21%14%14%10%41%Small Business Lending Lodging Retail Doctors Eating Place Other1. Calculated on unpaid principal balance and excludes assets offset by guaranteed loan financing liabilities 69%9%7%6%9%SBC Lendingand Acquisitions Multi-family Mixed-use Retail Office Other
Slide 11: Residential Mortgage Banking Segment Snapshot
11 QUARTERLY ORIGINATIONS UPB $746.4MSEGMENT SNAPSHOTResidential Mortgage Banking 78%22%Production by Purpose Purchased Refinanced QUARTERLY SALES UPB $776.4M 72%26% 2% Sales by Investor Fannie/Freddie Ginnie Mae Other MSR PORTFOLIO UPDATE ($ in billions) 41%37%22%Production by Platform Retail Corre
Slide 12: Loan Portfolio – Risk Rating
12Loan Portfolio –Risk Rating BUCKET1:VeryLowRiskofLoss:Neworiginationorcurrentwithstrongcreditmetrics(LTV/DSCR/DY).Noexpectedlosses.BUCKET2:LowRiskofLoss:Currentwithmaturity>6months.LowercreditmetricswithpossibilityofinclusiononCREFCwatchlist.Noexpectedlosses.BUCKET3:MediumRiskofLoss:Currentwithnea
Slide 13: Debt-Leverage
13Debt-LeverageCorporate DebtPPPLFSecuritized Debt ObligationsNon-Recourse Secured BorrowingsRecourse Secured Borrowing 0.2x2.4x0.7x1.0x0.5xDebt BalanceLeverage Ratio•Recourseleverageratioof1.5x•Totalleverageof4.9x•Fullmarkettomarketliabilitiesandcreditmarktomarketliabilitiesrepresent17%and11%oftota
Slide 14: Financial Snapshot
14Financial Snapshot Investment Type Average Carrying Value (1) Gross Yield(2) Average Debt Balance Debt Cost (3) Levered Yield SBC Lending and Acquisitions $ 9,446,032 5.7%$ 6,949,169 3.3% 12.2% Small Business Lending $ 309,665 16.9%$ 188,786 5.2% 35.3% Total $ 9,755,697 6.0% $ 7,137,955 3.4% 12.5%
Slide 15: Appendix: Additional Financial Information
APPENDIXAdditional Financial Information
Slide 16: Balance Sheet by Quarter
16Balance Sheet by Quarter (In Thousands) Assets Cash and cash equivalents$200,723 $209,769 $229,531 $211,369 $127,939 Restricted cash 57,118 52,692 51,569 56,963 64,746 Loans, net 2,222,284 2,384,497 2,915,446 4,062,335 3,907,321 Loans, held for sale, at fair value 470,184 549,917 552,935 523,214 4
Slide 17: Statement of Income by Quarter
17Statement of Income by Quarter
Slide 18: Distributable Earnings Reconciliation by Quarter
18Distributable Earnings Reconciliation by QuarterTheCompanybelievesthatthisnon-U.S.GAAPfinancialinformation,inadditiontotherelatedU.S.GAAPmeasures,providesinvestorsgreatertransparencyintotheinformationusedbymanagementinitsfinancialandoperationaldecision-making,includingthedeterminationofdividends.H
Slide 19: Ready Capital
* READY ». CAPITAL.