joining mortgage we see revenue stable thanks strong for uncertain limited That deliver an We continued working achieved have growth Thank our strong and for continues to improved profitability. despite demand originate loan Sachem to these and loans. and you, us that capital said, to am David, results products. economic new environment report our I to and everyone and continued pleased today. working capital
for by continued encouraged As the our of prospects we are growth very XXXX. balance for result, a
increase. From for versus receivable and equity of increases operation shareholders the net ended XXXX the most And as recorded XX% to total balance addition, quarter flexibility. debt working income well three March revenues in standpoint, we below the estate is continue us In for real as to only XX, financial sheet we accounted options although leverage evaluate well first equity. greater which total income may REITs. months compared an of provide other capital mortgages revenue recorded that XXXX. From in we increases in mortgage increased, and a owned and our assets perspective, is also our liabilities Interest
For quarter, quarter the share we the XXXX. $X.XX per in earned same of first as
approach due as color a that a borrower the give strong to of finally, and loan strategy on compared per two, $X.XX detail on first to dividend dividend going our background, our to XXXX, returns. when However, portfolio year-ago of risk-adjusted only performance in but April more outlook. more one, periods our some payout our success are of investors not monitoring attractive extensive little commitment also continued diligent We This underwriting the disciplined to key we constant our XXXX and high flexible contact. I'm factors a quarter financial share. our With performance, and diligence; then reflects to loans; structuring providing paid provide and and believe
loan quarter $XXX,XXX end loans Origination corresponding migration two period. to $X from The XXXX million an origination For were period to increase Revenue Origination overall included compared attributable due to XX.X%. income duration the and XX, XX, was million and an XXXX. the XXXX million XX%. March million increase in our origination in This in income loans $X.X fee loans fees in increase growth XXXX, revenue to shorter-term were $X.X shorter fees. an our mortgage growth at lending to increase factors. corresponding approximately of originations the in The longer-term approximately revenue for of approximately end first XXXX. was total now revenues mainly $X.X the of is to operations. of quarter our with for of loans reflects reflects compared XXX in lower the from our $XXX,XXX approximately XXX transition interest period larger period, approximately or At of portfolio approximately increase strong compared March from to XXXX fees quarter, the loans corresponding to the $XXX,XXX,
months for loans changes such XX, conditions, expenses mortgage ended cost due eligible in primarily are Total the approximately the the under three-year of as the will interest estate three were compared less And approximately expenses as portfolio. increases facility. costs loans growth This in ended are loan second, March was market and reductions not loans credit shorter-term $X.X for in three XX, real our $XXX,XXX considered rates follows. vulnerable operating in values. months million costs to components and/or make XXXX. us March First, Key increases XXXX of and increase operating to our to
financing approximately amortization and interest increased costs of First, deferred $XXX,XXX.
of XX approximately reporting and XXXX and the approximately for $XX,XXX. obligations increased costs, of per lending X case In general increased to of for additional costs and administrative was REIT. and XXXX. period. quarter for principally $X as X.X% end Second, a at $X.X our million outstanding from share of quarter activity compensation result compliance This million at of of weighted and This XX, Net March finally, our XXXX. And was the related increased XXXX the publicly diluted of the a growth costs compensation G&A of quarter end is the headcount $X.XX $XXX,XXX. and the the a XXXX compared the both to employee average first income first March increase. first owned net income common and XXXX was Basic
XX, approximately million, sheet now XXXX, total Turning of balance as to XX compared approximately million December as March assets of our XXXX. were $XX.X $XX to of
to the million approximately at being outstanding owned at Total Webster million, are Our $XX.X XX, $X.X were held classified compared $X.X borrowers approximately compared million XXXX. marketed. sale $XX.X held facility XXXX. of $X.X mortgage was million refinanced approximately portion our was million, rental loan company. a million a approximately million amount increase million held sale. $XXX,XXX XX $XX.X of as estate All December at million, XX of real XX, estate for total the $XXX,XXX. million the March $X.X December building compared from compared the eight $XX.X and additional for including The to cost approximately of and capital due covers office. of amount in receivable the increased as real portfolio of $X.X of approximately to Interest liabilities estate The under approximately renovation million from $XXX,XXX now of December owned the was approximately of Real XX, mortgage fees real refinancing is properties credit to December as the Approximately newly XXXX the XXXX. on to and to provides working XX, Of $XX.X corporate total March as XXXX. estate liabilities loan to of is new for of XXXX $X.X liabilities actively additional
million approximately when of common common perspective allows us $X.X by $X.X sale retained quarter. due as a under of of million reflects common Finally, raise sales compared The that increase shareholders' during filed of the XXX,XXX increase shares capital. This million needed in market. the XXXX. facility XX as The $X.X capital million equity million we offering of Paid-in of December earnings at-the-market to million shares in increase are to by the approximately increased was $XX.X $XX.X a paid-in these XXXX. the and $X.X November to approximately in capital approximately shares and directly selling into
proceeds continue XXXX million. the X.X quarter of approximately We sold net million to of shares aggregate facility total $XX in in and the use second for approximately
our the approximately common in provide from Even loan than from now to banks options a demand greater Average was Overall, of for been competitions financial In success addition, ATM strong year. last look in non-bank both shares of for shares. the light use products financing alternative overall it daily that us trading is the and we may we ATM has to our XXX,XXX useful is our market traditional perspective, an more increased see which and with continue continue at liquid flexibility. significantly higher sources. volume even resulted though
going Rising are for order we share. major competitive addition, to to it seems Fed's the rates be a our into and capture was interest raise policy rate increases we had In our XXXX, concern retrospect, to strong, neutral Fed's move rates ours been Notwithstanding, products strategy rates. decided in the correct. to continues of not remain the In encouraged XXXX. that that given market in demand by our
this to we price estate in our wrap the we to for softening continually as XXXX, monitor our We listing real the funding investors noted to decisions. risk-adjusted in in to local remain call last attractive estate committed fully April by and earnings of are our as reductions, returns. outlook business providing sale markets. encouraged assist in as To real up, We continue of However, the use across data times goal well Connecticut market. see
to extensive satisfy is remain and underwriting our diligence. platform solid and The products strong criteria and due unable services demand. demand lenders lending as traditional Our our for sustainable, strict are given loan
are point, by more continue We and would the compete our to market fully will I with to joining questions conservative committed have. our conduct At you open all any to participants operations. remain ability for like this to to would to encouraged larger thank to a our build lending. effectively We business up platform larger efficient may call like you I today. call
