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
ABR$1.60-0.6%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Income
CONSOLIDATED STATEMENTS OF INCOME (Unaudited)
($ in thousands, except share and per share data)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Interest income | $286,522 | $336,474 | $905,002 | $1,000,159 |
| Interest expense | 197,710 | 229,180 | 624,613 | 675,749 |
| Net interest income | 88,812 | 107,294 | 280,389 | 324,410 |
| Other revenue: | ||||
| Gain on sales, including fee-based services, net | 18,638 | 18,619 | 52,752 | 55,795 |
| Mortgage servicing rights | 13,195 | 14,109 | 37,928 | 48,769 |
| Servicing revenue, net | 31,142 | 35,463 | 92,577 | 97,376 |
| Property operating income | 1,507 | 1,450 | 4,521 | 4,261 |
| Gain (loss) on derivative instruments, net | 822 | (421) | (4,711) | (3,582) |
| Other income, net | 2,537 | 173 | 6,955 | 5,099 |
| Total other revenue | 67,841 | 69,393 | 190,022 | 207,718 |
| Other expenses: | ||||
| Employee compensation and benefits | 44,881 | 39,810 | 135,411 | 123,518 |
| Selling and administrative | 13,141 | 12,367 | 39,897 | 38,574 |
| Property operating expenses | 1,686 | 1,479 | 4,948 | 4,227 |
| Depreciation and amortization | 1,944 | 2,286 | 6,937 | 7,297 |
| Provision for loss sharing (net of recoveries) | 3,180 | 1,679 | 7,787 | 12,528 |
| Provision for credit losses (net of recoveries) | 16,220 | 18,652 | 64,903 | 55,047 |
| Total other expenses | 81,052 | 76,273 | 259,883 | 241,191 |
| Income before extinguishment of debt, sale of real estate, income from equity affiliates and income taxes | 75,601 | 100,414 | 210,528 | 290,937 |
| Loss on extinguishment of debt | — | (314) | (412) | (1,561) |
| Gain on sale of real estate | — | — | 3,813 | — |
| Income from equity affiliates | 3,177 | 809 | 7,388 | 20,694 |
| Provision for income taxes | (5,233) | (5,854) | (12,726) | (19,436) |
| Net income | 73,545 | 95,055 | 208,591 | 290,634 |
| Preferred stock dividends | 10,342 | 10,342 | 31,027 | 31,027 |
| Net income attributable to noncontrolling interest | 5,028 | 6,789 | 14,119 | 21,200 |
| Net income attributable to common stockholders | $58,175 | $77,924 | $163,445 | $238,407 |
| Basic earnings per common share | $0.31 | $0.42 | $0.87 | $1.30 |
| Diluted earnings per common share | $0.31 | $0.41 | $0.86 | $1.28 |
| Weighted average shares outstanding: | ||||
| Basic | 188,513,832 | 187,023,395 | 188,626,263 | 183,340,149 |
| Diluted | 205,347,309 | 221,328,818 | 205,448,479 | 217,457,399 |
| Dividends declared per common share | $0.43 | $0.43 | $1.29 | $1.25 |
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