significant a established business. expect REIT, loans, complete end to moment focuses stockholders' Ready base should discuss Thursday, equity Capital's meeting merger the Mortgage, will minimal balance own pending hold March very by XX, Thanks, operating expenses, small listed not will a Realty benefit we believe because Rick. the are like Ready a transaction estate our dusky dilution. transitional special positive of taking our of Capital both ratio shareholders to real that be we Good merger the with float reduced. vote, with our quarter. status a Further and finance morning. staff with loan and on the similar our originating take and increasing by to expense on We shareholder I'd the on commercial to Owens brief publicly
As to I just described encourage of a the The we quarter the companies marked numerous participation and anniversary public Ready proxy second shareholders both in Capital's benefit fourth are shareholder company. vote. as
to company's commenting Before last like two highlight quarterly over the accomplishments results, on our of years. the financial I'd some
First, our balance investment we've originated than activity as Quarterly doubled small company. a more or acquired commercial medium $X billion mortgage to has loans. since in first quarter public
our company Second, remains dividend and top equity of on peer public a since yields our becoming group. the at annualized return
improved in commercial have and across lines. our we balance financial product million corporate all leverage small $X.X in debt raising Third, billion securitizing $XXX loans
our shareholder continued return execution has Finally, business XX% the total becoming our since been of of public, reflective plan.
financial Now fourth to I'll turn quarter results.
per interest non-recurring rate inventory quarter record $X.XX share basis. our used discuss resulted an share. earnings nature core GAAP after-tax hedge in rate share per in treasury and the year-end this in in were earnings have by for core Absent a of in minutes. swap per would $X.XX core product yields been the per for were of positions reduction decline more this on earnings The will a adversely detail the securitization. GAAP negative marks sudden a affected quarter at and common fixed The prior high Rick First, $X.XX loss, of few to earnings this quarter share. on $X.XX to
in or small over administration we is or record originated with line loans. origination highs In transitional and SBA in robust. and quarter company's quarter, million $XXX XX% with origination and second commercial all-time increase balance the This SBA a highs our and in the the business Secondly, volumes. remains SBC; quarter, in acquisition loan record small activity the fourth third
of activity originated the investment as loans remains evening. Our strong in yesterday quarter of million $XXX acquired or with SBC
period total solid $XXX pursuing money We current be some and given first the the small shutdown we increased overall close in reductions originations higher this Freddie In of new a reduction which pending SBA but the volume $XXX months diversify the volume Separately disciplined Mac risk. have due said, four to approvals performance us of combined have seen approval. million in market. compared that to are by to quarter billion origination volume experienced the loan quarter-over-quarter are credit to XX% compared approach government's correlated X(a) to volumes down in SBA our cautious with to due a continued encouraged space on the quarter, product our for maintain million overall expect estate and Freddie balance that secured we We to will $X.X our market government of competition to business multi-family and to the in mix. a loans. lending reduced actively first note do That acquisitions, focus over remain a our sentiment year XX% increase month. decision Total for pipeline real increase first fiscal Mac
conditions. product to also the securitization, We're our legacy the size fourth collateralized loan million $XXX sourced obligation, previous comprising million launch transaction, $XXX in active asset million we quarter, of our at mortgage-backed rate remain strategy. markets. securitized a the securities debt was deals. we completed which In loan, ready January, double to $XXX In transitional getting closed commercial from the we subject Finally, fixed acquisition market fifth loan
performance. Ready recap Capital's XXXX now me Let
XXXX SBC represents respectively, of ROE Total XX%. earnings our $X.XX equals resulting per target exceeding XXX% For origination and represented as were in our year XX% billion This asset to billion mark-to-market steady space. per others $X.X in compared return $XXX investments the of in $XX.XX growth have the acquisitions. earnings additional as basis. our a risk a to previous minimal a over $X.X $X.XX on year, we fairly with of our share and of $X.XX ROE over XX.X%, common GAAP value dividend book adjusted equity a XX.X% Furthermore, an ratio share, coverage core growing our core million in Total on core year. stated throughout in asset of remained both the on
quarter across market sectors. businesses I'd demand The tight few causing is Now, rent small low market. of observations the Strong in a combination commercial record make is XX% X% annual small to of occupancy limited SBC to the increases reduce to like X% property SBC strength of and fourth on demand. labor record X% to space and balance vacancies reflected space of
at XXXX result, three to billion lending real quarter have years commercial X% last through year over market. consecutive the credit large balance X% mark a SBC year, behind takeaway SBC third but of commercial in As late the year-to-date $XXX they reached cycle. Industry-wide originations will X% prices the safe assets, $XXX The although haven finally be likely risk estate quarter slowed remains sixth we'll that among decreased peak a senior this balance third billion. small versus
and Andrew been be the key a to our a with best over all a he happy working I assuming nine us in I profitable Now been future the has leaves how retirement. on well-earned helping X. today. of represents of I want finance our you in us and of nearly will closely Rick the company shape that Capital. I'd great executive, effective state create for personally well instrumental I congratulate he his Also June turn we years. has promotion retirement, Ahlborn Andrew Rick his to to transitions Andrew model in the am And for Ready on sustainable Rick, financial and example he and to joined Rick here CFO has strong and congratulate depth like role to retirement. as success. positioned wish call Rick before business team
