Firm Capital Mortgage Investment Corporation Announces Q3/2025 Results

Core Insights - Firm Capital Mortgage Investment Corporation reported a net income increase of 1.4% for Q3 2025, totaling $9,088,270 compared to $8,960,532 in Q3 2024, and a 10.3% increase for the nine months ended September 30, 2025, reaching $28,735,689 compared to $26,064,088 in the same period of 2024 [2] - The investment portfolio decreased by 4.1% to $627.1 million as of September 30, 2025, from $653.8 million at the end of 2024, with new investment funding of $216.5 million and repayments of $243.3 million during the nine months [4][6] - The allowance for expected credit losses increased to $34.4 million as of September 30, 2025, up from $29.6 million at the end of 2024, indicating a growing concern over potential credit risks [5] Financial Performance - Basic weighted average earnings per share for Q3 2025 was $0.247, slightly down from $0.250 in Q3 2024, while distributions per share remained stable at $0.234 [3][8] - For the nine months ended September 30, 2025, the Corporation reported income exceeding distributions by approximately $2.95 million, or $0.08 per share [3] Investment Portfolio Details - The investment portfolio consisted of 248 investments as of September 30, 2025, with an average gross investment size of approximately $2.5 million, and 16 investments exceeding $7.5 million [4][6] - Conventional first mortgages made up 93.0% of the total net investment portfolio, with a significant portion maturing by December 31, 2025 [6] Dividend and Shareholder Information - Dividends declared for Q3 2025 totaled $0.234 per share, consistent with the previous year, amounting to $8,596,506 [8] - The number of common shares outstanding increased slightly to 36,737,435 as of September 30, 2025, compared to 36,733,777 in the same period of 2024 [8]