ARBOR REALTY TRUST INC
For the period ended Sep 30, 2024. Filed Nov 1, 2024.
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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, 2024 · Filed Nov 1, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets
($ in thousands, except share and per share data)
| (Unaudited) | December 31, 2023 | |
|---|---|---|
| Assets: | ||
| Cash and cash equivalents | $687,540 | $928,974 |
| Restricted cash | 179,906 | 608,233 |
| Loans and investments, net (allowance for credit losses of $243,588 and $195,664) | 11,292,647 | 12,377,806 |
| Loans held-for-sale, net | 326,141 | 551,707 |
| Capitalized mortgage servicing rights, net | 376,403 | 391,254 |
| Securities held-to-maturity, net (allowance for credit losses of $10,564 and $6,256) | 156,027 | 155,279 |
| Investments in equity affiliates | 76,294 | 79,303 |
| Real estate owned, net | 127,926 | 86,991 |
| Due from related party | 96,823 | 64,421 |
| Goodwill and other intangible assets | 88,510 | 91,378 |
| Other assets | 473,241 | 403,290 |
| Total assets | $13,881,458 | $15,738,636 |
| Liabilities and Equity: | ||
| Credit and repurchase facilities | $3,257,719 | $3,237,827 |
| Securitized debt | 5,315,079 | 6,935,010 |
| Senior unsecured notes | 1,246,908 | 1,333,968 |
| Convertible senior unsecured notes | 285,170 | 283,118 |
| Junior subordinated notes to subsidiary trust issuing preferred securities | 144,480 | 143,896 |
| Mortgage notes payable — real estate owned | 35,350 | 44,339 |
| Due to related party | 25,474 | 13,799 |
| Due to borrowers | 56,975 | 121,707 |
| Allowance for loss-sharing obligations | 80,577 | 71,634 |
| Other liabilities | 270,349 | 298,733 |
| Total liabilities | 10,718,081 | 12,484,031 |
| Commitments and contingencies (Note 14) | ||
| Equity: | ||
| Arbor Realty Trust, Inc. stockholders' equity: | ||
| Preferred stock, cumulative, redeemable, $0.01 par value: 100,000,000 shares authorized, shares issued and outstanding by period: | 633,684 | 633,684 |
| Special voting preferred shares - 16,293,589 shares | ||
| 6.375% Series D - 9,200,000 shares | ||
| 6.25% Series E - 5,750,000 shares | ||
| 6.25% Series F - 11,342,000 shares | ||
| Common stock, $0.01 par value: 500,000,000 shares authorized - 188,608,777 and 188,505,264 shares issued and outstanding | 1,886 | 1,885 |
| Additional paid-in capital | 2,363,259 | 2,367,188 |
| Retained earnings | 34,816 | 115,216 |
| Total Arbor Realty Trust, Inc. stockholders' equity | 3,033,645 | 3,117,973 |
| Noncontrolling interest | 129,732 | 136,632 |
| Total equity | 3,163,377 | 3,254,605 |
| Total liabilities and equity | $13,881,458 | $15,738,636 |
Note: Our consolidated balance sheets include assets and liabilities of consolidated variable interest entities, or VIEs, as we are the primary beneficiary of these VIEs. At September 30, 2024 and December 31, 2023, assets of our consolidated VIEs totaled $6,782,387 and $8,614,571, respectively, and the liabilities of our consolidated VIEs totaled $5,332,159 and $6,967,877, respectively. See Note 15 for discussion of our VIEs.
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