Content analysis
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New words:
Boston, classification, consumer, currency, dislocation, furniture, heightened, holistically, impracticable, inability, intangible, leave, MA, opportunistically, predominantly, recession, reclassification, reclassified, retrospectively, Seattle, spending, suitable, unavailable, weakened
Removed:
accelerating, accrete, adequacy, Adjustable, Administration, administrator, Amendment, announcement, arranger, Authority, backed, bookrunner, cease, ceased, chain, choose, combined, commodity, Condo, Conduct, conflict, convened, created, dated, decreasing, desirable, disruption, drastic, ease, escalating, evolve, expansion, Facilitation, fallback, favorable, FCA, governmental, harbor, Hedging, IBA, ICE, imposing, inflationary, instituting, integrating, interbank, intervention, issuer, Label, legislation, lesser, limiting, longer, maturing, nonconvertible, obtaining, onset, optional, overnight, penalty, percent, persist, placement, platform, practicable, prepaid, prospective, publication, published, recommended, reform, REFT, representative, represented, representing, residential, Restatement, restructuring, resulted, Russia, safe, sellout, separately, sharing, spurred, Subtopic, successfully, Sunset, system, tight, trade, travel, troubled, Ukraine, unemployment, uniform, unsecured, vacancy
Financial report summary
?Management Discussion
- Net interest income decreased by $7.3 million during the three months ended March 31, 2024, as compared to the preceding three-month period. This decrease was primarily due to the suspension of interest income accrual on loans accounted for under
- the cost recovery method and a decrease in prepayment fees compared to the preceding three-month period. During the three months ended March 31, 2024, $2.5 million of interest collections on nonaccrual loans were applied as a reduction to the loan amortized cost.
- We recognized $4.7 million of deferred loan fees and origination discounts accreted into interest income during the three months ended March 31, 2024, as compared to $5.9 million for the preceding period. We recorded $5.0 million of deferred financing costs amortization into interest expense during the three months ended March 31, 2024, as compared to $5.7 million for the preceding period.