Strong Quarterly Performance
Net income of $22.5 million, a NIM of 4.59%, return on equity of 17.64%, and diluted earnings per share of $2.67.
Robust Loan Purchases and Originations
Purchased loans with UPB of $152.7 million and originated $134 million in loans, with a strong purchase pipeline expected.
Asset Quality and Capital Strength
Capital remains strong with Tier 1 leverage at 12.21%, and tangible book value just under $60 a share.
Innovative Product Launch
Launch of new insured small business loan product with annuity, with about $10 million closed since October 1.