TWO HARBORS INVESTMENT CORP.
For the period ended Dec 31, 2025. Filed Feb 17, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 17, 2026
TWOD$26.33+0.0%Stored close · as of Oct 2, 2026
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Item 8. Financial Statements and Supplementary Data
INDEX TO CONSOLIDATED FINANCIAL STATEMENTS
| Page | |
|---|---|
| Report of Independent Registered Public Accounting Firm (PCAOB ID 42) | 60 |
| Consolidated Balance Sheets at December 31, 2025 and December 31, 2024 | 62 |
| Consolidated Statements of Comprehensive (Loss) Income for the Years Ended December 31, 2025, 2024 and 2023 | 63 |
| Consolidated Statements of Stockholders’ Equity for the Years Ended December 31, 2025, 2024 and 2023 | 64 |
| Consolidated Statements of Cash Flows for the Years Ended December 31, 2025, 2024 and 2023 | 65 |
| Notes to the Consolidated Financial Statements | 67 |
| Note 1. Organization and Operations | 67 |
| Note 2. Basis of Presentation and Significant Accounting Policies | 67 |
| Note 3. Acquisition of RoundPoint Mortgage Servicing LLC | 76 |
| Note 4. Variable Interest Entities | 77 |
| Note 5. Available-for-Sale Securities, at Fair Value | 78 |
| Note 6. Servicing Activities | 81 |
| Note 7. Mortgage Loans Held-for-Sale, at Fair Value | 84 |
| Note 8. Cash, Cash Equivalents and Restricted Cash | 84 |
| Note 9. Derivative Instruments and Hedging Activities | 85 |
| Note 10. Reverse Repurchase Agreements | 92 |
| Note 11. Offsetting Assets and Liabilities | 93 |
| Note 12. Fair Value | 94 |
| Note 13. Financing | 101 |
| Note 14. Commitments and Contingencies | 105 |
| Note 15. Stockholders' Equity | 106 |
| Note 16. Equity Incentive Plans | 109 |
| Note 17. Interest Income and Interest Expense | 111 |
| Note 18. Income Taxes | 111 |
| Note 19. Earnings Per Share | 115 |
| Note 20. Segment Reporting | 116 |
| Note 21. Subsequent Events | 116 |
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