Company: TWO-PC
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0001465740-25-000104
Chunk: 83

Company: TWO HARBORS INVESTMENT CORP.
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 1
Chunk 83
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expense):Interest income$111,382 $117,783 Interest expense131,714 160,000 Net interest expense(20,332)(42,217)Net servicing income:Servicing income156,859 166,333 Servicing costs3,197 7,119 Net servicing income153,662 159,214 Other (loss) income:Loss on investment securities(32,729)(10,975)(Loss) gain on servicing asset(36,221)11,012 (Loss) gain on interest rate swap and swaption agreements(98,788)98,510 Gain on other derivative instruments1,448 47,599 Gain (loss) on mortgage loans held-for-sale669 (3)Other income761 — Total other (loss) income(164,860)146,143 Expenses:Compensation and benefits26,589 26,529 Other operating expenses20,505 21,052 Total expenses47,094 47,581 (Loss) income before income taxes(78,624)215,559 Provision for income taxes431 11,971 Net (loss) income(79,055)203,588 Dividends on preferred stock(13,186)(11,784)Gain on repurchase and retirement of preferred stock— 644 Net (loss) income attributable to common stockholders$(92,241)$192,448 Basic (loss) earnings per weighted average common share$(0.89)$1.85 Diluted (loss) earnings per weighted average common share$(0.89)$1.73 Dividends declared per common share$0.45 $0.45 Comprehensive income:Net (loss) income$(79,055)$203,588 Other comprehensive income (loss):Unrealized gain (loss) on available-for-sale securities157,172 (103,078)Other comprehensive income (loss)157,172 (103,078)Comprehensive income78,117 100,510 Dividends on preferred stock(13,186)(11,784)Gain on repurchase and retirement of preferred stock— 644 Comprehensive income attributable to common stockholders$64,931 $89,370 

48

Results of Operations

Interest Income

Interest income decreased from $117.8 million for the three months ended March 31, 2024, to $111.4