of XXXX. thanks to net or us of revenue you, an very company first joining million, and your attributable shareholders Thank everyone XX% for for increase $X.XX achieved quarter record $X.X the today. of share more than and I'm of common per report million pleased to income to $XX.X
been on this believe continued excluding for note We an noncash share. recorded available $X.XX products. talk for strong a important these loss loan adjustment per would sale. and to $X.X demand our have It's or moment, charge, that results this noncash about earnings we adjusted our unrealized but more approximately execution I'll million in accounting or securities illustrate
are both our asset past, As we've classes. and portfolio, discussed geographically in within the new diversifying we loan
initiatives results all the of disciplined and conservative these seeing are while a maintaining underwriting loan-to-value ratio. We now
and million construction During draws. the loans, quarter, including we modifications funded approximately mortgage of $XX.X loan
along lending U.S. the in XX strong presence operations have states a calls, past and As now discussed focus expanded with our our we our have core the across Eastern seaboard. on
footprint geographic include our We taxpayer-friendly to pro-business continue to and high-growth expand MSAs. will
During $XX without our of lending us support our attractive gross will growing completed first main to goal, pipeline. with proceeds provide loan we compromising offering the with our is The to our to public million activities accelerate notes provide which another unsecured risk-adjusted additional shareholders of quarter, returns. non-dilutive capital
our ahead, are support underwriting, loan to solid review and with procedures. enhancements is a Looking in advantage balance capitalized well expanding with robust.
Further, pipeline now sheet armed and quite analysis loan software and our opportunities market take of we to the
in priced volatility continues attractively the Board has rising real to of growth that and with by new market rates the operating remain We the the a our hard for year. we be to significant limiting fact and borrowers.
We estate Federal closing originate discussed to expect loans seek by with opportunities good growth.
Despite in risks strong collateral developers and the mid-scale overall in our priority timeliness started and raise term be with our to continued lender of portfolio loan mitigate well-capitalized, to the call, money loans fundings last for rates, encouraged outlook as current Reserve potential Speed history. small market There a interest to continues the associated some X of and high business. to
of going fees criteria, our prevailing have is we greater March in our discussed loan interest of income.
I -- on year our meets like term, thereby some would will eliminated touch calls.
If I default like forward. the lending now additional the underwriting loans would rates, in XXXX, consider other at on of then X an more highlights extension or not and at key continued of financial than loan to about generating our less. and strategy a rising or renewal a term the the Further, half interest prior rate As portfolio end XX, have rates compression talk
recently into filed additional financial details, please press you XX-Q our insight review If the any need and release.
compared March was the operations. XX, to and an primarily was total approximately ended $X.X months XX.X%. for months First, $X.X expanded an or million The increase increase revenue mortgage lending in of million our approximately XXXX, X the for to attributable portfolio revenue ended March approximately X XX, $XX.X increase XXXX, million in
were the operations, increase million $X first for $X.X quarter, year, or income origination was 'XX interest compared $XXX,XXX XX.X%. to unrelated same approximately investments The to XXXX partnership investment last approximately from income approximately and approximately the the representing the last rental the income, or comparable all processing including or approximately to million of approximately was our of income and $X.X representing $XXX,XXX million fee relate Income period. approximately period approximately for same to our for of late approximately lending period XXX.X%.
Other for period, fees the to XX.X%. $XXX,XXX $XXX,XXX $X.X period fees to year, increase were $X.X fees, of lending income income, compared which the For compared million and an operations for $XXX,XXX approximately XXXX, including $XXX,XXX net million quarter an increase an compared for of XXXX first
in approximately available for the on the This were for and On approximately hand, the other on on the specifically reported $X.X costs is I'll sale operating detail approximately 'XX of was compared of our X million, the X-year company loan and unrealized and expenses XXXX. approximately on portfolio. investment represents the were or approximately and finance loss The discuss gains unsecured loss million unsubordinated March an our months XXXX, period our XX, in primarily which $X.X notes, losses neither March attributable the $XXX,XXX for sale.
Total securities securities X sale for securities increase of increase available XXXX, shortly. operating in losses for unsecured, expenses which XX.X%. million sale to investment $X.X unrealized securities In increase indebtedness, ended months growth of ended XX, helped costs to unrealized
balance interest increase approximately XXXX, or primarily attributable million amortization ended loss, For was The of compared first, approximately XX.X%. increase which $X.X second, expenses, XX, million for taxes, approximately the in $XXX,XXX, same X an and which year, and cost approximately increased which general the administrative months last fees the of was $XXX,XXX; finally, deferred an period of operating $X.X to: increased increased impairment financing and $XXX,XXX. compensation and March approximately million expenses to $X.X
the investment losses in For XXXX. December approximately XX, unrealized reported decrease the quarter unrealized on prior we March gain of since ended $XXX,XXX, XXXX, securities reflecting an XX,
period such market of in $X,XXX, $X.X For per share $X.XX X attributable March we XX, income March XXXX.
Net reported securities the decrease approximately shareholders same investment XXXX, of December ended the the per the an from year, or XX, ended the on common unrealized XX, months value securities to months $X.XX loss or last share, million approximately X million was for for approximately reflecting $X.X to XXXX. compared
rising and for the decline which losses XXXX. portfolio value Index, the unrealized me Bond a available in securities the million, in of losses investments. company's through on beginning quarter for that moment of rates interest year a sale market with X.X% XX.
Quite of yields March Aggregate the Let investments. reflects bond investors Barclays the approximately from greater the short-term down available of values sale on just simply, securities first the our The for $X.X to unrealized on note term take of look X.X% the Contrast explain now reduced as was
for investors we consider. compared the approximately unrealized While of these $X.XX is $X.XX though event the ended these approximately we our earnings investments GAAP said, company prior valuation if provide and months outlook decide market or an excluding positive, investments utilized or would we loss, in mature for per risks debt reverse for per the I valuation earnings achieved our majority XX, for the our sustainability of the million we with the share XX, of was share, back further the million of and earnings model. included adjusted available release.
After finite linked believe of investors carefully ongoing the scalability Even to business for $X.X of unrealized this still and $X.X X adjusted XXXX, income.
Based March strong per operating associated loss, months to for to our quarter. position X effect, ETFs XXXX our are evidence XXXX, term the ASU portfolio with value performance. description investments, financial Quite company's in full the XX, year structured your of increase the March earnings securities to the the strong decide revenues this securities and the some maturity, March XXXX.
Overall, we to in maturity. and of core the next XX%. and simply, is representation as earnings adjusted better We there recognize ended in earnings without ended our we value, through market our figure reconciliation quarter mark-to-market earnings all noncash share performance prudent a as believe to hold liquidate and review remains of charge a provide recognize an to to we competitive sale That well record to will or maturities, this in on press our investments to would encourage it felt charge, into
we market As strategy quickly you our have can seen, adapt as conditions change.
through an by December in part decrease $XXX principally securities terms $XX.X due at Sachem's XXXX, approximately increase March condition in XX, to assets at XX, March of investments to The XXXX, This XX, of of approximately approximately payable million.
Total liabilities $XX.X million.
To in our of primarily our XXXX million sale well facility in million million, to repurchase compared $XXX.X partnerships of and of December to investment equivalents ATM of $X.X compared cash, ATM in approximately an quarter increase $X.X XX, or XXXX, our net value. financial is all the was March to million $XX.X of of million proceeds were increase of approximately the approximately our notes to clarify, increase of in net XX.X%. mortgage XX, XXXX, equity $XX.X by $X.X $X.X million. shareholders' approximately increase million approximately sales $XXX.X and ATM as XX, was at the increase XXXX of $XXX approximately million payable to at million.
Total due our was $XX.X an approximately XXXX, and XXXX, common offset in XX.X%. $X.X million decreases of were $XXX.X increase approximately of In of through approximately in million due reduction loan in of cash from excess approximately were increase million an at costs shares of $XX.X compared margin million accrued income financing net or activity, of our at offset the increase line compared $XX.X Churchill and approximately book dividends of approximately deferred approximately December during million, the of stock the approximately March million an our XXXX, credit The $XXX.X XX, first million, XX, December total primarily approximately portfolio a
million see, of assets solid $XXX.X So over of principal. as balance million remains $XXX.X backing our you can note sheet with
compared peers, levels thereby our difficult extraordinarily As during providing to low in mortgage stability are debt REIT, times. our
XXX portfolio, of million managed the Further, troubled due. a distressed And transaction considered, estate to As we the $X.X to owned income, foreclosure the our at the loses value profitable process our overall invested capital are of exceeds same its amount last loans XXX% $X.X rarely is or million term approximately fees the in year. company.
Real these decreased when time the each unlocking origination the the of in in over the loan or the value. loan, usually, and the mortgage manner.
In to March of other XXXX, interest were compared XX, with of just or collateral believe total X.X% goal of XX of actively a of case loans, timely of the
million on dividends months XX, XX, held X for XXXX, A is cash in first sale. our paid real period. the and The our asset approximately carrying $XXX,XXX was for and to dividends by million provided million partly of reduction million shares support the held a real will costs.
Net attributable real owned Series As compared estate XXXX $X.X initiatives with March continued the estate estate in activities March to that common operating of Stock. approximately estate $X.X further favorable paid approximately same to real new rental of XXXX, included of for $X.X approximately $X.X quarter, reduction liquidation for In respect $XXX,XXX Preferred company ended the
XX, of addition, Board on share declared common a April Directors In XXXX. XX $X.XX per on April X, XXXX, dividend shareholders to the April record of payable of on
requirement as operates of a are comply of distribute and is shareholders the company's as to intend with XX% dividends. income to to current taxable the We you Sachem year. for this As a REIT aware, required minimum
Let me take a now capital resources. discuss to moment liquidity and
our with short-term of XX, approximately is marketable liquidity facility March had returns. facilities higher attractive we and master million about Fargo take X cash XX to provide and garner that Churchill at very of will had Supplementing not our with Real balance and repurchase a $XX.X which with Estate, to March additional $XX.X also It's XXXX, very credit of of the financing our an careful reiterate million As we're outstanding.
These on us affiliate million. margin our line securities rates. flexibility important we at overlever portfolio debt leveraged Wells of $XX.X
Moving continue forward, the we monitor will to ever-changing economic conditions.
and COVID-XX nonbank coverage cannot market, platform and and shareholders non-GAAP approach the $X.X forward a the cautionary banks rates earnings. and markets lending look we million go-to Board has market remain to will are as debt estate for and our the achieved last open as am to interest we ratios the of growth Reserve fit still of Given the and the At Despite opportunities. predetermined rising the deploying with local to rates, adjusted Federal demand raise achieved services borrowers loans results, attractive maintain the We strong.
I flow a interest the our first record a that revenue to hard effects we we ever believe $XX.X our million lending considerable understand into having $X.X our pleased net attributable current lending well to period over local same cash their enhance same identify and as banks products money of box.
Further, further positioned capital lingering capital common borrowers of struggle required and operating lack provide year. income small million, time, metrics. by due to qualify quarter and fact of as the needs lenders with need timing fail an new XX.X% lender increase started real and the of to
to wrap diligence. due platform and solid lending believe up, underwriting our extensive we given our criteria strict So sustainable is and
questions. historical XXXX.
I open look forward like joining you call to thank we As today. strong this a continuing call At will performance our point, for for result, our the all to we would in
