Earnings Feed

$10.1 million

Net income that was $3 million or 42% better than the midpoint of our guidance.

$0.44

We reported AFFO per share of $0.44, which is up 2.8% from Q2 last year.

$312 million

Loans were up $312 million or 7% from what the combined companies reported on March 31.

$96 million increase in NPAs

Nonperforming assets increased by approximately $96 million during the quarter due to 8 loans with a large multifamily developer.

$1.76 per share

Excluding the tax credit impact, FFO of $1.76 per share exceeded consensus and prior year FFO, resulting in the beat and raise.

$187.6 million or $1.70 per share

Core funds from operations for the second quarter were $187.6 million or $1.70 per share, $0.01 ahead of the midpoint of our prior quarterly guidance.