Slide 1: Supplemental Financial Data Q4 2021
SUPPLEMENTAL FINANCIAL DATAQ4 2021
Slide 2: Disclaimer
2DisclaimerThispresentationcontainsstatementsthatconstitute“forward-lookingstatements,”assuchtermisdefinedinSection27AoftheSecuritiesActof1933,asamended,andSection21EoftheSecuritiesExchangeActof1934,asamended,andsuchstatementsareintendedtobecoveredbythesafeharborprovidedbythesame.Thesestatementsareb
Slide 3: Fourth Quarter 2021 Results
3Fourth Quarter 2021 Results Net income of $53.6 million1, or $0.69 per common share Distributable earnings of $52.5 million1, or $0.67 per common shareDeclared dividend of $0.42 per common share Earnings / Dividends Return on Equity2of 18.1% Distributable Return on Equity3of 17.8%Dividend Yie
Slide 4: Fourth Quarter 2021 Results (continued)
4Fourth Quarter 2021 Results (continued) Total liquidity of $246million1including cash, anticipated warehouse advances, principal and interest receivable from servicers, and anticipated proceeds from available-for-sale assets Current Liquidity Closed$927.2millioncommercialmortgagecollateralizedloa
Slide 5: 2021 Highlights
52021 Highlights EARNINGS ($ in millions) RETURN ON EQUITY INVESTMENT ACTIVITY ($ in millions) BALANCE SHEET GROWTH ($ in millions) $61.5$75.1$46.1$160.0$58.7$67.3$101.4$168.0$0$50$100$150$2002018201920202021 Net income Distributable earnings 10.8%10.5%5.6%14.6%10.3%9.4%12.3%15.4%11.4%10.9%10.4%11.2
Slide 6: Return on Equity
6Return on Equity1.Leveredyieldincludesinterestincome,accretionofdiscount,MSRcreation,incomefromunconsolidatedjointventures,realizedgains(losses)onloansheldforsale,unrealizedgains(losses)onloansheldforsaleandservicingincomenetofinterestexpenseandamortizationofdeferredfinancingcostsonanannualizedbasi
Slide 7: Diversified, Complementary, & Scalable Platforms
7Diversified, Complementary, & Scalable Platforms 13%13%50%2%17%5% Acquisitions SBC Originations - Fixed rate SBC Originations - Bridge SBC Originations - Freddie Mac Small Business Lending Residential Mortgage Banking PORTFOLIO BREAKDOWN1 REVENUE BREAKDOWN2 ($ in thousands) $5,752$4,519$29,481$11,0
Slide 8: SBC and SBA Investment by Product Type
8SBC and SBA Investment by Product Type $65.6$52.0$148.7$144.3$135.7$34.8$6.0$53.6$104.9$98.2$132.1$164.4$240.5$135.5$169.3$243.2$652.8$807.2$730.4$1,529.2$140.2$168.0$29.0$136.2$443.8$0$400$800$1,200 $1,600 $2,000 $2,400Q4'20Q1'21Q2'21Q3'21Q4'21 SBA Fixed Rate/CMBS Freddie Mac Transitional Acquired
Slide 9: SBC Lending and Acquisitions
9SBC Lending and Acquisitions1.Excludes joint venture investments2.56.9% of fixed rate loans match funded3. Calculated on unpaid principal balance4. Includes realized and unrealized gains (losses) on loans held for sale and MSR creation5. Includes interest income, accretion of discount, and servicin
Slide 10: Small Business Lending
10Small Business Lending GROSS LEVERED YIELD LOAN COUNTUPBBOOK VALUEWA LTVWA COUPONFIXED/FLOAT60%+(1)1,886$657M$623M88.4%5.5%0.6 / 99.4%1.2% CURRENT QUARTER HIGHLIGHTS 28.4%37.0%18.6%20.7%16.5%34.6%50.4%80.6%55.4%33.2%0%20%40%60%80%100%Q4 2020Q1 2021Q2 2021Q3 2021Q4 2021 Gross levered yield (ex. gai
Slide 11: Loan Portfolio Composition
11Loan Portfolio Composition 21%15%13%10%41%Small Business Lending Lodging Doctors Retail Eating Place Other1. Calculated on unpaid principal balance and excludes assets offset by guaranteed loan financing liabilities 58%11%9%8%14%SBC Lendingand Acquisitions Multi-family Retail Office Mixed-use Othe
Slide 12: Residential Mortgage Banking Segment Snapshot
12 QUARTERLY ORIGINATIONS UPB $875.8MSEGMENT SNAPSHOTResidential Mortgage Banking 54%46%Production by Purpose Purchased Refinanced QUARTERLY SALES UPB $921.7M 76%21% 3% Sales by Investor Fannie/Freddie Ginnie Mae Other MSR PORTFOLIO UPDATE ($ in billions) 45%37%18%Production by Platform Retail Corre
Slide 13: Loan Portfolio – Risk Rating
13Loan Portfolio –Risk Rating BUCKET1:VeryLowRiskofLoss:Neworiginationorcurrentwithstrongcreditmetrics(LTV/DSCR/DY).Noexpectedlosses.BUCKET2:LowRiskofLoss:Currentwithmaturity>6months.LowercreditmetricswithpossibilityofinclusiononCREFCwatchlist.Noexpectedlosses.BUCKET3:MediumRiskofLoss:Currentwithnea
Slide 14: Capital Structure
18%15%13%13%13%2%3%2%2%3%2%1%1%1%7%7%6%6%9%30%44%49%47%39%42%30%28%31%36%Q4 2020Q1 2021Q2 2021Q3 2021Q4 2021 Funding Mix Securitized debt oblications Credit faciities and repurchase agreements Senior secured notes and Corporate debt Convertible senior notes Preferred Equity Common Stockholders Equit
Slide 15: Financial Snapshot
15Financial Snapshot Investment Type Average Carrying Value (1) Gross Yield(2) Average Debt Balance Debt Cost (3) Levered Yield SBC Lending and Acquisitions $ 6,304,317 5.4%$ 4,694,787 3.0% 12.6% Small Business Lending $ 304,962 22.6%$ 181,848 4.2% 49.7% Total $ 6,609,279 6.2% $ 4,876,635 3.0% 18.0%
Slide 16: Appendix: Additional Financial Information
APPENDIXAdditional Financial Information
Slide 17: Balance Sheet by Quarter
_ READY CAPITAL. Balance Sheet by Quarter (in Thousands) 2 024 60/2024 0/2024 21342021 ‘Assets Cash and cash equivalents S 138975 $ 308428 $ 200723 $ 209769 $ 229531 Restricted cash 47897 62,961 S718 52682 51.569 Loans, net 4,550,628 1,811,828 2.222284 2.384.497 2915446 Loans, held forsale, at far v
Slide 18: Statement of Income by Quarter
18Statement of Income by Quarter (In thousands, except share data) Interest income$64,810 $73,371 $103,047 $105,136 $121,942 Interest expense (41,319) (50,761) (55,415) (50,136) (57,249) Net interest income before provision for loan losses$23,491 $22,610 $47,632 $55,000 $64,693 Recovery of (provisio
Slide 19: Distributable Earnings Reconciliation by Quarter
19Distributable Earnings Reconciliation by QuarterTheCompanybelievesthatthisnon-U.S.GAAPfinancialinformation,inadditiontotherelatedU.S.GAAPmeasures,providesinvestorsgreatertransparencyintotheinformationusedbymanagementinitsfinancialandoperationaldecision-making,includingthedeterminationofdividends.H
Slide 20: * READY
* READY ». CAPITAL.