Company: TWO-PC
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0001465740-25-000152
Chunk: 0

Company: TWO HARBORS INVESTMENT CORP.
Filing Date: 2025-10-28
Form: 10-Q
Item: Item 1
Chunk 0
---
Item 1. Financial Statements

TWO HARBORS INVESTMENT CORP.

CONSOLIDATED BALANCE SHEETS

(in thousands, except share data) 

September 30,2025December 31,2024ASSETS(unaudited)Available-for-sale securities, at fair value (amortized cost $6,403,114 and $7,697,027, respectively; allowance for credit losses $1,854 and $2,866, respectively)$6,348,157 $7,371,711 Mortgage servicing rights, at fair value2,626,706 2,994,271 Mortgage loans held-for-sale, at fair value12,635 2,334 Cash and cash equivalents770,533 504,613 Restricted cash116,388 313,028 Accrued interest receivable28,325 33,331 Due from counterparties505,353 386,464 Derivative assets, at fair value135,431 10,114 Reverse repurchase agreements158,135 355,975 Other assets164,744 232,478 Total Assets (1)$10,866,407 $12,204,319 LIABILITIES AND STOCKHOLDERS’ EQUITYLiabilities:Repurchase agreements$7,104,650 $7,805,057 Revolving credit facilities945,371 1,020,171 Warehouse lines of credit8,452 2,032 Senior notes110,866 — Convertible senior notes261,370 260,229 Derivative liabilities, at fair value7,720 24,897 Due to counterparties390,599 648,643 Dividends payable49,030 58,725 Accrued interest payable45,226 85,994 Other liabilities171,406 176,062 Total Liabilities (1)9,094,690 10,081,810 Commitments and contingencies (see Note 14)Stockholders’ Equity:Preferred stock, par value $0.01 per share; 100,000,000 shares authorized and 24,870,817 shares issued and outstanding ($621,770 liquidation preference)601,467 601,467 Common stock, par value $0.01 per share; 175,000,000 shares authorized and 104,155,818 and 103,680,321 shares issued and outstanding