Impac Mortgage — Shareholder Meeting (July 2016)
11 slides from Impac Mortgage's shareholder meeting presentation, Jul 21, 2016
Slide 1: Safe Harbor Statement
Safe Harbor Statement During this presentation we will make projections or other forward-looking statements in regards to but not limited to GAAP and taxable earnings, cash flows, interest rate and market risk exposure, mortgage production and general market conditions. I would like to refer you to
Slide 2: 2015 Overview
2015 Overview CashCall Mortgage acquisition Total originations of $9.3 billion Operating income (excluding changes in contingent consideration) of $33.5 million From December 31, 2014 to December 31, 2015: Book value per share increased from $2.60 to $11.09 IMH share price increased from $6.20 to $1
Slide 3: 2015 Total Originations of $9.3B
2015 Total Originations of $9.3B 2013 2014 2015 2016 (YTD 6/30) $2.5 $2.8 $9.3 $5.6 $0 $1 $2 $3 $4 $5 $6 $7 $8 $9 $10 (in billions)
Slide 4: Mortgage Originations by Channel
Mortgage Originations by Channel 2013 2014 2015 2016 (YTD 6/30) Wholesale $971.2 $598.9 $1,449.2 $653.7 Retail $709.4 $80.3 $5,571.8 $4,145.6 Correspondent $867.8 $2,169.6 $2,238.0 $797.9 $- $1,000.0 $2,000.0 $3,000.0 $4,000.0 $5,000.0 $6,000.0 (in millions)
Slide 5: Servicing Portfolio Increased to $6.6B
Servicing Portfolio Increased to $6.6B 12/31/2013 12/31/2014 12/31/2015 6/30/2016 UPB $3.1 $2.3 $3.6 $6.6 $- $1.0 $2.0 $3.0 $4.0 $5.0 $6.0 $7.0 (in billions)
Slide 6: 2015 Operating Income of $33.5M
2015 Operating Income of $33.5M* *excluding changes in contingent consideration 2013 2014 2015 2016 (Q1) $(1.6) $(13.2) $33.5 $7.0 $(15.0) $(10.0) $(5.0) $- $5.0 $10.0 $15.0 $20.0 $25.0 $30.0 $35.0 (in millions)
Slide 7: Capital Transactions
Capital Transactions May 2015 - issued $25 million in convertible notes June 2015 - entered into $30 million credit facility with Macquarie Group December 2015 - entered into equity distribution agreement to sell common stock through an ‘At the Market Transaction’ or “ATM” January 2016 - Converted $
Slide 8: 2016 YTD Originations by Channel
2016 YTD Originations by Channel Wholesale Retail Correspondent Q1 2016 $319.3 $1,653.0 $376.9 Q2 2016 $334.4 $2,492.6 $421.0 $0 $500 $1,000 $1,500 $2,000 $2,500 (in millions)
Slide 9: 2016 Looking Ahead
2016 Looking Ahead Initiation of JMP Securities analyst coverage Mortgage lending growth Leverage servicing recapture capabilities Selectively utilize ATM to raise capital accretively
Slide 10: This concludes my prepared remarks, thank you for attending
This concludes my prepared remarks, thank you for attending Impac Mortgage Holdings, Inc. 2016 Annual Stockholders’ Meeting.
Slide 11: This concludes my prepared remarks
This concludes my prepared remarks, thank you for attending Impac Mortgage Holdings, Inc. 2016 Annual Stockholders’ Meeting. IMPAC.
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