Ready Capital Corp

For the period ended Dec 31, 2025. Filed Mar 2, 2026.

About this filing

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 Mar 2, 2026

RC$1.04+22.1%Stored close · as of Nov 9, 2026

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Contents

CONSOLIDATED STATEMENTS OF OPERATIONS

	For the Year Ended December 31,
(in thousands, except share data)	2025	2024	2023
Interest income	$569,166	$896,975	$945,814
Interest expense	(514,125)	(696,455)	(716,468)
Net interest income before provision for loan losses	$55,041	$200,520	$229,346
Provision for loan losses	(87,038)	(292,759)	(7,230)
Net interest income after provision for loan losses	$(31,997)	$(92,239)	$222,116
Non-interest income
Net realized gain (loss) on financial instruments and real estate owned	(142,112)	(54,000)	65,008
Net unrealized gain (loss) on financial instruments	(13,153)	(14,991)	9,718
Valuation recovery (allowance), loans held for sale	15,443	(124,878)	—
Servicing income, net of amortization and impairment of $29,919, $21,972 and $7,911	18,703	16,556	21,161
Gain on bargain purchase	109,549	13,859	207,972
Income (loss) on unconsolidated joint ventures	4,562	10,886	(905)
Other income	53,716	50,803	105,514
Total non-interest income (expense)	$46,708	$(101,765)	$408,468
Non-interest expense
Employee compensation and benefits	(89,487)	(82,522)	(81,530)
Allocated employee compensation and benefits from related party	(14,828)	(11,387)	(10,837)
Professional fees	(30,837)	(26,887)	(34,738)
Management fees – related party	(20,348)	(24,862)	(25,103)
Incentive fees – related party	—	—	(1,791)
Loan servicing expense	(41,258)	(46,656)	(40,811)
Transaction related expenses	(6,050)	(10,118)	(17,764)
Impairment on real estate	(23,503)	(56,503)	(8,638)
Other operating expenses	(90,956)	(63,572)	(50,953)
Total non-interest expense	$(317,267)	$(322,507)	$(272,165)
Income (loss) from continuing operations before benefit for income taxes	(302,556)	(516,511)	358,419
Income tax benefit (provision)	86,703	104,512	(7,174)
Net income (loss) from continuing operations	$(215,853)	$(411,999)	$351,245
Discontinued operations (refer to Note 9)
Loss from discontinued operations before income tax benefit	(6,944)	(24,532)	(3,779)
Income tax benefit	1,736	6,133	945
Net loss from discontinued operations	$(5,208)	$(18,399)	$(2,834)
Net income (loss)	$(221,061)	$(430,398)	$348,411
Less: Dividends on preferred stock	7,996	7,996	7,997
Less: Net income attributable to non-controlling interest	7,854	5,357	8,960
Net income (loss) attributable to Ready Capital Corporation	$(236,911)	$(443,751)	$331,454
Earnings per common share from continuing operations - basic	$(1.41)	$(2.52)	$2.27
Earnings per common share from discontinued operations - basic	$(0.03)	$(0.11)	$(0.02)
Total earnings per common share - basic	$(1.44)	$(2.63)	$2.25
Earnings per common share from continuing operations - diluted	$(1.41)	$(2.52)	$2.24
Earnings per common share from discontinued operations - diluted	$(0.03)	$(0.11)	$(0.02)
Total earnings per common share - diluted	$(1.44)	$(2.63)	$2.22
Weighted-average shares outstanding
Basic	164,544,350	169,107,477	146,841,594
Diluted	167,259,712	170,472,273	148,567,026
Dividends declared per share of common stock	$0.385	$1.10	$1.46

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.