Company: TWO-PC
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001465740-25-000140
Chunk: 122

Company: TWO HARBORS INVESTMENT CORP.
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 1
Chunk 122
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30, 2025 and 2024:

(in thousands, except per share amounts)Three Months EndedSix Months EndedIncome Statement Data:June 30,June 30,2025202420252024(unaudited)(unaudited)Net interest expense:Interest income$117,082 $115,953 $228,464 $233,736 Interest expense136,701 154,207 268,415 314,207 Net interest expense(19,619)(38,254)(39,951)(80,471)Net servicing income:Servicing income158,354 176,015 315,213 342,348 Servicing costs2,386 4,475 5,583 11,594 Net servicing income155,968 171,540 309,630 330,754 Other (loss) income:Loss on investment securities(32,830)(22,437)(65,559)(33,412)Loss on servicing asset(35,902)(22,857)(72,123)(11,845)(Loss) gain on interest rate swap and swaption agreements(52,950)22,012 (151,738)120,522 (Loss) gain on other derivative instruments(31,257)(750)(29,809)46,849 Gain (loss) on mortgage loans held-for-sale883 — 1,552 (3)Other income1,038 226 1,799 226 Total other (loss) income(151,018)(23,806)(315,878)122,337 Expenses:Compensation and benefits21,469 21,244 48,058 47,773 Other operating expenses21,307 17,699 41,812 38,751 Loss contingency accrual199,935 — 199,935 — Total expenses242,711 38,943 289,805 86,524 (Loss) income before income taxes(257,380)70,537 (336,004)286,096 Provision for income taxes1,661 14,201 2,092 26,172 Net (loss) income(259,041)56,336 (338,096)259,924 Dividends on preferred stock(13,239)(11,784)(26,425)(23,568)Gain on repurchase and retirement of preferred stock—