ARBOR REALTY TRUST INC
For the period ended Sep 30, 2025. Filed Oct 31, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Oct 31, 2025
ABR$1.47-8.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
(in thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2025 | 2024 | |
| Operating activities: | ||
| Net income | $131,707 | $208,591 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 14,947 | 6,937 |
| Stock-based compensation | 11,284 | 11,749 |
| Amortization and accretion of interest and fees, net | 9,790 | (2,186) |
| Originations of loans held-for-sale | (3,451,737) | (3,119,339) |
| Proceeds from sales of loans held-for-sale, net of gain on sale | 3,564,689 | 3,339,638 |
| Payoffs and paydowns of loans held-for-sale | 6,525 | 5,116 |
| Mortgage servicing rights | (34,598) | (37,928) |
| Amortization of capitalized mortgage servicing rights | 53,344 | 50,817 |
| Write-off of capitalized mortgage servicing rights from payoffs | 6,251 | 5,911 |
| Provision for loss sharing (net of recoveries) | 14,258 | 7,787 |
| Provision for credit losses (net of recoveries) | 47,773 | 64,903 |
| Net recoveries for loss sharing obligations | (1,587) | 1,156 |
| Deferred tax benefit | (3,532) | (8,922) |
| Income from equity affiliates | (47,224) | (7,388) |
| Distributions from operations of equity affiliates | 52,215 | 17,017 |
| Change in fair value of held-for-sale loans | (2,824) | (1,113) |
| (Gain) loss on derivative instruments, net | (1,413) | 4,711 |
| Loss on extinguishment of debt | 2,319 | 412 |
| Loss (gain) on real estate | 4,813 | (3,813) |
| Changes in operating assets and liabilities | 12,326 | (129,211) |
| Net cash provided by operating activities | 389,326 | 414,845 |
| Investing Activities: | ||
| Loans and investments funded, originated and purchased, net | (2,429,471) | (912,530) |
| Payoffs and paydowns of loans and investments | 1,702,337 | 1,873,927 |
| Deferred fees | 22,601 | 16,176 |
| Proceeds from sale of real estate, net | — | 14,103 |
| Contributions to equity affiliates | (9,943) | (17,845) |
| Distributions from equity affiliates | 23,966 | 11,224 |
| Payoffs and paydowns of securities held-to-maturity | 222 | 305 |
| Investment in real estate, net | (26,767) | (2,526) |
| Change in due to borrowers and reserves | (10,592) | (36,692) |
| Net cash (used in) provided by investing activities | (727,647) | 946,142 |
| Financing activities: | ||
| Proceeds from credit and repurchase facilities | 8,453,609 | 6,702,905 |
| Payoffs and paydowns of credit and repurchase facilities | (7,870,768) | (6,681,812) |
| Payoffs and paydowns of securitized debt | (1,932,338) | (1,629,038) |
| Proceeds from issuance of securitized debt | 1,486,329 | — |
| Proceeds from mortgage note payable - REO | 201,784 | — |
| Payoffs and paydowns of mortgage notes payable - REO | (103,227) | (8,953) |
| Proceeds from issuance of common stock | 70,518 | — |
| Proceeds from issuance of senior unsecured notes | 500,000 | — |
| Payoffs and paydowns of senior unsecured notes | — | (90,000) |
| Payoff of convertible note | (287,500) | — |
| Payments of withholding taxes on net settlement of vested stock | (3,099) | (4,267) |
| Repurchase of common stock | — | (11,408) |
| Distributions to stockholders | (245,856) | (295,891) |
| Payment of deferred financing costs | (43,390) | (12,284) |
| Redemption of operating partnership units | (1,576) | — |
| Net cash provided by (used in) financing activities | 224,486 | (2,030,748) |
| Net decrease in cash, cash equivalents and restricted cash | (113,835) | (669,761) |
| Cash, cash equivalents and restricted cash at beginning of period | 660,179 | 1,537,207 |
| Cash, cash equivalents and restricted cash at end of period | $546,344 | $867,446 |
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (Continued)
(in thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2025 | 2024 | |
| Reconciliation of cash, cash equivalents and restricted cash: | ||
| Cash and cash equivalents at beginning of period | $503,803 | $928,974 |
| Restricted cash at beginning of period | 156,376 | 608,233 |
| Cash, cash equivalents and restricted cash at beginning of period | $660,179 | $1,537,207 |
| Cash and cash equivalents at end of period | $423,384 | $687,540 |
| Restricted cash at end of period | 122,960 | 179,906 |
| Cash, cash equivalents and restricted cash at end of period | $546,344 | $867,446 |
| Supplemental cash flow information: | ||
| Cash used to pay interest | $500,342 | $611,825 |
| Cash used to pay taxes | 17,736 | 23,735 |
| Supplemental schedule of non-cash investing and financing activities: | ||
| Real estate acquired in settlement of loans and investments, net | 463,754 | 169,172 |
| Settlement of loans and investments, net of real estate | (481,934) | (168,825) |
| Derecognition of real estate owned | 185,945 | 112,987 |
| Loan funded in conjunction with real estate sold | (194,055) | (114,850) |
| Distributions accrued on preferred stock | 7,010 | 7,010 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.