Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
interest income | 144,119,000 | 135,567,000 | 118,740,000 | 105,070,000 | 97,760,000 | 90,529,000 | 86,269,000 | 79,088,000 | 74,897,000 | 70,521,000 | 65,632,000 | 63,419,000 | 59,243,000 | 52,049,000 | 49,360,000 | 46,923,000 | 44,978,000 | 40,707,000 |
interest expense — portfolio related | 88,899,000 | 81,838,000 | 75,088,000 | 63,871,000 | 59,188,000 | 55,675,000 | 51,406,000 | 47,583,000 | 45,451,000 | 42,029,000 | 40,854,000 | 34,561,000 | 28,752,000 | 23,556,000 | 23,666,000 | 20,321,000 | 20,566,000 | 20,832,000 |
net interest income — portfolio related | 55,220,000 | 53,729,000 | 43,652,000 | 41,199,000 | 38,572,000 | 34,854,000 | 34,863,000 | 31,505,000 | 29,446,000 | 28,492,000 | 24,778,000 | 28,858,000 | 30,491,000 | 28,493,000 | 25,694,000 | 26,602,000 | 24,412,000 | 19,875,000 |
interest expense — corporate debt | 6,144,000 | 6,143,000 | 6,142,000 | 6,143,000 | 6,155,000 | 5,380,000 | 4,139,000 | 4,138,000 | 4,139,000 | 4,139,000 | 4,139,000 | 4,011,000 | 4,182,000 | 17,140,000 | 4,462,000 | 4,488,000 | 4,309,000 | 7,350,000 |
net interest income | 49,076,000 | 47,586,000 | 37,510,000 | 35,056,000 | 32,417,000 | 29,474,000 | 30,724,000 | 27,367,000 | 25,307,000 | 24,353,000 | 20,639,000 | 24,847,000 | 26,309,000 | 11,353,000 | 21,232,000 | 22,114,000 | 20,103,000 | 12,525,000 |
benefit from (reversal of) credit losses | 381,000 | -69,000 | ||||||||||||||||
net interest income after benefit from (reversal of) credit losses | 48,695,000 | 35,125,000 | ||||||||||||||||
other operating income | ||||||||||||||||||
gain on disposition of loans | 4,574,000 | 6,286,000 | 2,834,000 | 2,291,000 | 3,168,000 | 1,699,000 | 1,482,000 | 3,606,000 | 1,237,000 | 1,913,000 | 391,000 | 399,000 | 1,776,000 | 4,540,000 | 2,356,000 | 306,000 | 2,391,000 | 2,839,000 |
unrealized gain on fair value loans | 30,982,000 | 29,906,000 | 34,836,000 | 35,530,000 | 17,123,000 | 18,925,000 | 39,367,000 | -1,284,000 | 2,413,000 | 7,354,000 | 7,796,000 | 453,000 | 6,000 | 11,000 | 11,000 | 20,000 | -2,000 | |
unrealized loss on fair value securitized debt | -9,988,000 | -7,584,000 | -13,682,000 | -2,318,000 | ||||||||||||||
unrealized loss on mortgage servicing rights | -343,000 | |||||||||||||||||
origination fee income | 9,723,000 | 8,936,000 | 8,679,000 | 6,704,000 | 5,072,000 | 4,986,000 | ||||||||||||
interest income on cash balance | 1,564,000 | 1,505,000 | 1,339,000 | 1,676,000 | 1,731,000 | 1,631,000 | ||||||||||||
other income | 565,000 | 489,000 | 521,000 | 519,000 | 110,000 | 408,000 | -130,000 | 681,000 | 903,000 | 3,461,000 | 756,000 | 1,657,000 | 1,257,000 | 1,097,000 | 249,000 | 33,000 | 21,000 | -36,000 |
total other operating income | 37,077,000 | 39,847,000 | 33,446,000 | 20,732,000 | 22,561,000 | 25,775,000 | 21,671,000 | 17,360,000 | 14,037,000 | 12,558,000 | 11,029,000 | 2,509,000 | 3,039,000 | 5,648,000 | 2,616,000 | 339,000 | 2,432,000 | 2,801,000 |
operating expenses | ||||||||||||||||||
compensation and employee benefits | 23,300,000 | 22,605,000 | 21,684,000 | 17,586,000 | 16,562,000 | 15,357,000 | 15,144,000 | 12,523,000 | 10,670,000 | 10,008,000 | 11,794,000 | 6,788,000 | 6,553,000 | 5,323,000 | 4,720,000 | 4,738,000 | 4,546,000 | 5,186,000 |
origination expenses | 1,154,000 | 1,193,000 | 838,000 | 867,000 | 749,000 | 646,000 | 171,000 | 273,000 | 123,000 | |||||||||
securitization expenses | 6,433,000 | 11,521,000 | 4,043,000 | 3,186,000 | 6,232,000 | 2,874,000 | 2,710,000 | 4,930,000 | 2,699,000 | |||||||||
loan servicing | 7,748,000 | 8,205,000 | 8,008,000 | 5,656,000 | 5,160,000 | 4,824,000 | 4,635,000 | 4,901,000 | 4,267,000 | 3,828,000 | 3,243,000 | 3,314,000 | 3,290,000 | 2,450,000 | 2,479,000 | 2,014,000 | 1,922,000 | 1,867,000 |
professional fees | 893,000 | 1,992,000 | 1,783,000 | 2,305,000 | 1,718,000 | 2,115,000 | 1,734,000 | 854,000 | 1,056,000 | 955,000 | 1,092,000 | 664,000 | 1,062,000 | 1,362,000 | 1,717,000 | 736,000 | 795,000 | 533,000 |
rent and occupancy | 274,000 | 298,000 | 275,000 | 519,000 | 617,000 | 498,000 | 550,000 | 472,000 | 458,000 | 446,000 | 435,000 | 445,000 | 426,000 | 442,000 | 429,000 | 447,000 | 430,000 | 463,000 |
real estate owned | 7,931,000 | 3,298,000 | 3,029,000 | 1,951,000 | 1,355,000 | 2,455,000 | 2,068,000 | 1,239,000 | 1,018,000 | 1,829,000 | 551,000 | -195,000 | -251,000 | -175,000 | 416,000 | 1,186,000 | 1,039,000 | 509,000 |
other operating expenses | 2,664,000 | 2,801,000 | 2,530,000 | 2,543,000 | 2,494,000 | 2,242,000 | 2,248,000 | 2,142,000 | 1,931,000 | 2,202,000 | 3,298,000 | 1,711,000 | 3,199,000 | 2,848,000 | 2,334,000 | 2,177,000 | 1,918,000 | 2,059,000 |
total operating expenses | 50,397,000 | 51,913,000 | 42,190,000 | 34,613,000 | 34,887,000 | 31,011,000 | 29,260,000 | 27,334,000 | 22,222,000 | 21,518,000 | 20,413,000 | 12,727,000 | 14,279,000 | 12,250,000 | 12,095,000 | 11,298,000 | 10,650,000 | 10,617,000 |
income before income taxes | 35,375,000 | 33,922,000 | 26,894,000 | 21,244,000 | 19,873,000 | 23,236,000 | 22,308,000 | 17,239,000 | 16,824,000 | 14,757,000 | 11,692,000 | 14,049,000 | 14,790,000 | 4,021,000 | 7,104,000 | 10,927,000 | 12,885,000 | 4,604,000 |
income tax expense | 9,963,000 | 5,627,000 | 5,162,000 | 5,903,000 | 5,141,000 | 5,070,000 | 4,602,000 | 4,021,000 | 3,465,000 | 3,759,000 | 4,019,000 | 790,000 | 3,024,000 | 2,905,000 | 3,432,000 | 1,208,000 | ||
federal | 7,603,000 | 5,928,000 | 5,850,000 | |||||||||||||||
state | 2,360,000 | 1,824,000 | 2,396,000 | |||||||||||||||
net income | 25,412,000 | 26,170,000 | 18,648,000 | 15,617,000 | 14,711,000 | 17,333,000 | 17,167,000 | 12,169,000 | 12,222,000 | 10,736,000 | 8,227,000 | 10,290,000 | 10,771,000 | 3,231,000 | 5,217,750 | 8,022,000 | 9,453,000 | 3,396,000 |
yoy | 72.74% | 50.98% | 8.63% | 28.33% | 20.36% | 61.45% | 108.67% | 18.26% | 13.47% | 232.28% | 57.67% | 28.27% | 13.94% | -4.86% | ||||
qoq | -2.90% | 40.34% | 19.41% | 6.16% | -15.13% | 0.97% | 41.07% | -0.43% | 13.84% | 30.50% | -20.05% | -4.47% | 233.36% | -38.08% | -34.96% | -15.14% | 178.36% | |
net income margin % | ||||||||||||||||||
net income attributable to noncontrolling interest | 39,000 | 173,000 | -239,000 | -186,000 | -67,000 | 82,000 | -188,000 | 83,000 | 39,000 | 87,000 | -235,000 | 307,000 | 126,000 | 110,000 | ||||
net income attributable to velocity financial, inc. | 25,373,000 | 25,997,000 | 18,887,000 | 15,803,000 | 14,778,000 | 17,251,000 | 17,355,000 | 12,086,000 | 12,183,000 | 10,649,000 | 8,462,000 | 9,983,000 | 10,645,000 | 3,121,000 | ||||
less undistributed earnings attributable to unvested restricted stock awards | 352,000 | 286,000 | 233,000 | 191,000 | 182,000 | 217,000 | 132,500 | 183,000 | 185,000 | |||||||||
net earnings attributable to common stockholders | 25,021,000 | 25,711,000 | 18,654,000 | 15,612,000 | 14,596,000 | 17,034,000 | 8,597,000 | 11,903,000 | 11,998,000 | 10,489,000 | 5,846,750 | 9,831,000 | 10,481,000 | 3,073,000 | 3,246,750 | 4,992,000 | 5,882,000 | 2,115,000 |
earnings per common share | ||||||||||||||||||
basic | 660 | 690 | 550 | 480 | 450 | 520 | 530 | 370 | 370 | 330 | 260 | 310 | 330 | 100 | 250 | 250 | 290 | 110 |
diluted | 650 | 690 | 510 | 440 | 420 | 490 | 500 | 350 | 360 | 310 | 240 | 290 | 310 | 90 | 240 | 230 | 280 | 100 |
weighted-average common shares outstanding | ||||||||||||||||||
basic | 38,073,000 | 37,194,000 | 33,687,000 | 32,711,000 | 32,585,000 | 32,541,000 | 32,206,000 | 32,275,000 | 32,122,000 | 32,098,000 | 31,913,000 | 31,922,000 | 31,917,000 | 31,892,000 | 22,813,000 | 20,090,000 | 20,087,000 | 20,087,000 |
diluted | 38,800,000 | 37,790,000 | 36,811,000 | 35,895,000 | 35,600,000 | 35,439,000 | 34,484,000 | 34,731,000 | 34,140,000 | 34,052,000 | 34,131,000 | 34,199,000 | 34,057,000 | 34,204,000 | 33,982,000 | 34,212,000 | 33,960,000 | 33,407,000 |
benefit from credit losses | 1,598,000 | 1,872,000 | 218,000 | |||||||||||||||
net interest income after benefit from credit losses | 45,988,000 | 35,638,000 | 32,199,000 | |||||||||||||||
unrealized gain on mortgage servicing rights | 309,000 | -1,081,000 | -993,000 | 444,000 | ||||||||||||||
total income tax expense | 7,752,000 | 8,246,000 | ||||||||||||||||
unrealized gain on fair value securitized debt | -24,995,000 | -4,643,000 | 3,770,750 | 9,692,000 | 5,560,000 | |||||||||||||
benefit from loan losses | 1,002,000 | 272,000 | 154,000 | 298,000 | 636,000 | 730,000 | 105,000 | |||||||||||
net interest income after benefit from loan losses | 28,472,000 | 29,897,000 | 27,213,000 | 25,009,000 | 23,717,000 | 10,623,000 | 12,420,000 | |||||||||||
origination income | 2,117,250 | 3,323,000 | 2,735,000 | |||||||||||||||
bank interest income | 869,500 | 1,342,000 | 1,189,000 | |||||||||||||||
unrealized loss on fair value securitizations | -170,000 | |||||||||||||||||
origination incomes | -334,000 | |||||||||||||||||
securitizations expenses | 2,584,000 | |||||||||||||||||
less undistributed earnings attributable to participating securities | 160,000 | 129,000 | 152,000 | 164,000 | 48,000 | 705,000 | 3,030,000 | 3,571,000 | 1,281,000 | |||||||||
benefit from (reversal of) loan losses | -437,000 | 580,000 | 279,000 | 376,000 | 228,000 | |||||||||||||
net interest income after benefit from (reversal of) loan losses | 15,230,000 | 24,267,000 | 26,030,000 | 13,852,250 | 21,886,000 | |||||||||||||
less deemed dividends on preferred stock | ||||||||||||||||||
(reversal of) benefit from loan losses | -1,000,000 | |||||||||||||||||
net interest income after (reversal of) benefit from loan losses | 21,103,000 |
The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.