Core Viewpoint - Firm Capital Mortgage Investment Corporation reported mixed financial results for the year ended December 31, 2025, with a decrease in net income for the fourth quarter but an overall increase for the year, alongside a reduction in the investment portfolio size and changes in dividend distribution [2][10]. Financial Performance - For Q4 2025, net income decreased by 4.7% to $8,735,874 compared to $9,164,362 in Q4 2024 [2] - For the full year 2025, net income increased by 6.4% to $37,471,563 from $35,228,450 in 2024 [2] - Basic weighted average earnings per share for Q4 2025 was $0.238, down from $0.249 in Q4 2024 [3] - For the year 2025, earnings per share rose to $1.020 from $0.996 in 2024 [3] Investment Portfolio - The investment portfolio decreased by 6.5% to $610.9 million as of December 31, 2025, from $653.8 million a year earlier [4] - New investment funding for 2025 was $278.0 million, down from $329.0 million in 2024, while repayments increased to $320.7 million from $265.3 million [4] - The portfolio consisted of 242 investments, down from 286 in 2024, with an average investment size of approximately $2.5 million [4][8] - Conventional first mortgages made up 95.2% of the total investment portfolio, an increase from 92.4% in 2024 [8] Allowance for Expected Credit Losses - The allowance for expected credit losses and fair value adjustments was $36.8 million as of December 31, 2025, up from $29.6 million in 2024 [5] - This included $29.1 million for estimated shortfalls between investment balances and recoverable amounts, and a collective allowance balance of $3.2 million [5] Dividend Distribution - The board declared a monthly cash dividend of $0.078 per common share, with total dividends for 2025 amounting to $37,471,563 or $1.020 per share, compared to $35,215,038 or $0.9920 per share in 2024 [6][10] - The number of common shares outstanding increased slightly to 36,738,425 from 36,734,405 in the previous year [10] Company Overview - Firm Capital Mortgage Investment Corporation focuses on mortgage investments through a non-bank lender, aiming to preserve shareholders' equity while providing stable monthly dividends [11]

Core Viewpoint - Firm Capital Mortgage Investment Corporation reported mixed financial results for the year ended December 31, 2025, with a decrease in net income for the fourth quarter but an overall increase for the year, alongside a reduction in the investment portfolio size and changes in dividend distribution [2][9]. Financial Performance - For Q4 2025, net income decreased by 4.7% to $8,735,874 compared to $9,164,362 in Q4 2024 [2] - For the full year 2025, net income increased by 6.4% to $37,471,563 from $35,228,450 in 2024 [2] - Basic weighted average earnings per share for Q4 2025 was $0.238, down from $0.249 in Q4 2024 [3] - Basic weighted average earnings per share for the year 2025 was $1.020, compared to $0.996 in 2024 [3] Investment Portfolio - The investment portfolio decreased by 6.5% to $610.9 million as of December 31, 2025, from $653.8 million a year earlier [4] - New investment funding for 2025 was $278.0 million, down from $329.0 million in 2024, while repayments increased to $320.7 million from $265.3 million [4] - The portfolio consisted of 242 investments, down from 286 in 2024, with an average gross investment size of approximately $2.5 million [4][7] - Conventional first mortgages made up 95.2% of the total investment portfolio, an increase from 92.4% in 2024 [7] Allowance for Expected Credit Losses - The allowance for expected credit losses and fair value adjustments was $36.8 million as of December 31, 2025, up from $29.6 million in 2024 [5] - This included $29.1 million for estimated shortfalls between investment balances and recoverable amounts, and a collective allowance balance of $3.2 million [5] Dividend Distribution - The board declared a monthly cash dividend of $0.078 per common share, with total dividends declared for 2025 amounting to $37,471,563 or $1.020 per share, compared to $35,215,038 or $0.9920 per share in 2024 [6][9] - The number of common shares outstanding increased slightly to 36,738,425 as of December 31, 2025, from 36,734,405 in 2024 [9] Company Overview - Firm Capital Mortgage Investment Corporation focuses on mortgage investments through a non-bank lender, aiming to preserve shareholders' equity while providing stable monthly dividends [10]

Core Insights - Atrium Mortgage Investment Corporation reported strong first quarter results, with earnings per share exceeding dividends and a significant increase in new loan origination despite a challenging market [3][4] - The company has successfully reduced its loan-to-value ratio and increased the percentage of conventional mortgages, contributing to a resilient portfolio [4][6] Financial Performance - For Q1 2025, Atrium reported total assets of $852.8 million, a decrease from $864.3 million at the end of 2024 [6] - Net income for the first quarter was $11.9 million, down 1.2% from the same period last year [6] - Basic and diluted earnings per share were $0.25, a decrease of 7.4% compared to $0.27 in the prior year [7][10] - The mortgage portfolio stood at $875.0 million, with mortgages receivable at $851.6 million, down from $863.2 million at the end of 2024 [8][10] Portfolio Quality - The loan-to-value ratio improved from 64.0% to 61.1% over the past year, with 96.3% of the portfolio being conventional mortgages [4][10] - Stage 3 loans decreased to 2.2% of the mortgage portfolio, the lowest since Q2 2023 [4] - The weighted average interest rate on the mortgage portfolio was 9.56%, down from 9.98% at the end of 2024 [8][10] Mortgage Portfolio Breakdown - As of March 31, 2025, the mortgage portfolio comprised 75.9% residential and 24.1% commercial properties [12] - The majority of the portfolio (88.8%) is located in the Greater Toronto Area, with a weighted average loan-to-value of 60.3% [14]