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

Financial Performance - For the three months ended June 30, 2025, net income increased by 13.4% to $9,674,154 compared to $8,533,772 for the same period in 2024 [2] - Net income for the six months ended June 30, 2025 increased by 14.9% to $19,647,419, compared to $17,103,556 reported for the same period in 2024 [2] - Basic weighted average earnings per share for the three months ended June 30, 2025 was $0.263, compared to $0.247 per share for the same period in 2024 [3] Dividend Information - Distributions per share to shareholders for the second quarter ended June 30, 2025 totaled $0.234, consistent with the previous year [3][8] - The Corporation declared a monthly cash dividend of $0.078 per common share, payable on specified dates [6][7] - Total dividends declared for the three months ended June 30, 2025 were $8,596,366, compared to $8,070,758 in 2024 [8] Investment Portfolio - The investment portfolio decreased by 4.5% to $624.4 million as of June 30, 2025, from $653.8 million as of December 31, 2024 [4][6] - New investment funding for the six months ended June 30, 2025 was $133.4 million, down from $173.4 million in 2024, while repayments increased to $162.8 million from $111.2 million [4] - The average face interest rate on the total gross carrying amount of the investment portfolio was 9.78% per annum, down from 10.07% at December 31, 2024 [6] Credit Losses and Fair Value Adjustments - The allowance for expected credit losses and fair value adjustment as of June 30, 2025 was $32.9 million, up from $29.6 million at December 31, 2024 [5] - This allowance includes $26.1 million representing management's estimate of the shortfall between investment balances and estimated recoverable amounts [5] Company Overview - The Corporation operates as a non-bank lender providing residential and commercial short-term bridge and conventional real estate financing [9] - The investment objective is the preservation of shareholders' equity while providing a stable stream of monthly dividends [9]