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      {
        "text": "Second Quarter 2026 Earnings Supplemental",
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        "text": "August\u00a06, 2026",
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      {
        "text": "GRANITEPOINT",
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      {
        "text": "MORTGAGE TRUST",
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        "text": "Legal Disclosures",
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        "text": "This presentation contains, or incorporates by reference, not only historical information, but also forward-looking statements within the ",
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      {
        "text": "meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve numerous risks and uncertainties. Our ",
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      {
        "text": "actual results may differ from our beliefs, expectations, estimates, projections and illustrations and, consequently, you should not rely on ",
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      {
        "text": "these  forward-looking  statements  as  predictions  of  future  events.  Forward-looking  statements  are  not  historical  in  nature  and  can  be ",
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        "text": "identified  by  words  such  as  'anticipate,'  'estimate,'  'will,'  'should,'  'expect,'  'target,'  'believe,'  'outlook,'  'potential,'  'continue,' ",
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      {
        "text": "'intend,' 'seek,' 'plan,' 'goals,' 'future,' 'likely,' 'may' and similar expressions or their negative forms, or by references to strategy, ",
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      {
        "text": "plans or intentions. The illustrative examples herein are forward-looking statements. By their nature, forward-looking statements speak only ",
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        "text": "as  of  the  date  they  are  made,  are  not  statements  of  historical  facts  or  guarantees  of  future  performance  and  are  subject  to  risks, ",
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      {
        "text": "uncertainties, assumptions or changes in circumstances that are difficult to predict or quantify. Our expectations, beliefs and estimates ",
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        "text": "are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that management's ",
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      {
        "text": "expectations, beliefs and estimates will prove to be correct or be achieved, and actual results may vary materially from what is expressed ",
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        "text": "in or indicated by the forward-looking statements.",
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        "text": "These forward-looking statements are subject to risks and uncertainties, including, among other things, those described in our Annual ",
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        "text": "Report on Form 10-K for the year ended December\u00a031, 2025, under the caption 'Risk Factors,' and any subsequent Form 10-Q or other ",
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        "text": "filings made with the SEC.  Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update ",
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        "text": "or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.",
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        "text": "This presentation is for informational purposes only and shall not constitute, or form a part of, an offer to sell or buy or the solicitation of ",
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        "text": "an offer to sell or the solicitation of an offer to buy any securities.",
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        "text": "Financial data throughout this presentation is as of or for the quarter ended June\u00a030, 2026, unless otherwise noted. Readers are advised ",
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      {
        "text": "that  the  financial  information  in  this  presentation  is  based  on  company  data  available  at  the  time  of  this  presentation  and,  in  certain ",
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      {
        "text": "circumstances, may not have been audited by the company's independent auditors.  Due to rounding, figures in this presentation may not ",
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        "text": "result in the totals presented.",
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      {
        "text": "This presentation also includes non-GAAP financial measures, which should be considered only as supplemental to, and not as superior to, ",
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      {
        "text": "financial measures prepared in accordance with GAAP.  Please refer to the Appendix of this presentation financial measures prepared in ",
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      {
        "text": "accordance with GAAP to the most directly comparable non-GAAP financial measures.",
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      {
        "text": "Please refer  to  Other  Definitions  in  the  Appendix  of  this  presentation  for  definitions  of  capitalized  terms  not  otherwise  defined  in  this ",
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        "text": "presentation.",
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  {
    "page_no": 3,
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    "cells": [
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        "text": "$(0.10)",
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        "text": "           ",
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        "text": "Distributable ",
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        "text": "Earnings (Loss) (3) ",
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        "text": " ",
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        "text": "Before Realized ",
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        "text": "Gains and Losses ",
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        "text": "per Basic Wtd. Avg. ",
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        "text": "Common Share",
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        "text": "Q2'26 SUMMARY RESULTS",
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        "text": "I N V E S T M E N T   P O R T F O L I O",
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        "text": "3",
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        "text": "$1.5 billion",
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        "text": "(1)",
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        "text": "Total Loan ",
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        "text": "100% Loans",
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        "text": "100% Senior ",
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        "text": "97% Floating Rate",
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        "text": "66.1%",
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        "text": "1.9",
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        "text": "x",
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        "text": "in REO (4)(5)",
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        "text": "per Basic Wtd. ",
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      {
        "text": "$(1.29)",
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        "text": "per Basic Wtd. ",
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        "text": "Share",
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        "text": "reserves",
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        "text": "$1.6\u00a0billion",
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        "text": " financing capacity with ",
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        "text": "$1.0\u00a0billion",
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        "text": " outstanding, including $0.4 ",
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      {
        "text": "billion in non-recourse and non-mark-to-",
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        "text": "Conservatively managed balance sheet with a granular investment portfolio and a well-balanced funding profile",
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        "text": "FINANCIAL ",
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        "text": "SUMMARY",
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        "text": "\u25aa",
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        "text": "GAAP Net (Loss) attributable to common stockholders of $(62.0) million, or $(1.29) per basic weighted ",
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        "text": "average common share ",
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      {
        "text": "Distributable Earnings (Loss) (3)  of $(37.7) million, or $(0.79) per basic weighted average common share ",
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        "text": "\u25aa",
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        "text": "Distributable Earnings (Loss) Before Realized Gains and Losses (3)  of $(4.9) million, or $(0.10) per basic ",
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      {
        "text": "weighted average common share                                                                                                                 ",
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      {
        "text": "PORTFOLIO ",
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        "text": "ACTIVITY",
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      {
        "text": "\u25aa",
        "box": [
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      {
        "text": "Net loan portfolio activity of $(121.8) million in unpaid principal balance",
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      {
        "text": "\u25e6",
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      {
        "text": "$(129.8)  million  in  loan  repayments,  paydowns,  resolutions  and  amortization,  including  one ",
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      {
        "text": "resolution of a $(76.0) million loan secured by a retail property with a previous office component ",
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      {
        "text": "located in Chicago, IL, one full repayment of a $(37.5) million loan secured by an office property in ",
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      {
        "text": "Richmond, VA, and one partial repayment of $(11.7) million of a loan secured by an office property ",
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      {
        "text": "in Los Angeles, CA",
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      {
        "text": "\u25e6",
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      {
        "text": "$8.0 million in fundings",
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      {
        "text": "PORTFOLIO ",
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      {
        "text": "OVERVIEW",
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      {
        "text": "\u25aa",
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      {
        "text": "Loan portfolio of $1.5 billion (1)  in total loan commitments across ",
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      {
        "text": "38",
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      {
        "text": " loans",
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      {
        "text": "Total CECL reserve of $165.8 million, or 11.4% of total loan portfolio commitments",
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        "text": "\u25aa",
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        "confidence": 1.0
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      {
        "text": "Weighted average loan portfolio risk rating of 3.2",
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        "text": "\u25aa",
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        "from_ocr": false,
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      {
        "text": "Held two REO assets with an aggregate carrying value of $90.7 million (4)(5)",
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      {
        "text": "CAPITALIZATION",
        "box": [
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      {
        "text": "& LIQUIDITY",
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        "confidence": 1.0
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      {
        "text": "\u25aa",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Extended the maturity date of the Citibank and Morgan Stanley financing facilities to April 2027 and June ",
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      {
        "text": "2027, respectively",
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        "text": "\u25aa",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Extended the maturity date of the secured credit facility to December 2027",
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        "text": "\u25e6",
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Reduced financing spread by 25 bps and will further reduce borrowings by $12.0 million over the ",
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        "confidence": 1.0
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      {
        "text": "next few quarters",
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u25aa",
        "box": [
          124.56001,
          446.64249,
          129.24801,
          461.95499
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Unrestricted cash of $58.5 million and Total Leverage Ratio of 1.9x",
        "box": [
          138.96001,
          449.34756808,
          492.94998,
          459.7833355455727
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q2 2026 Summary Results",
        "box": [
          25.2,
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          352.7039999999999,
          74.18391534874087
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4",
        "box": [
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          688.45003,
          502.6851442438944
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        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 5,
    "width": 720.0,
    "height": 540.0,
    "cells": [
      {
        "text": "SUBSEQUENT ",
        "box": [
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        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "EVENTS",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u25aa",
        "box": [
          118.56001,
          97.89251999999999,
          123.24801000000001,
          113.20501999999999
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "So far in Q3'26, funded about $1.6 million on existing loan commitments",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u25aa",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "In July, the Company refinanced the assets in our two legacy CLOs, GPMT 2021-FL3 and GPMT 2021-FL4, ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "by  extending  and  upsizing  the  JPMorgan  financing  facility.  As  of  June  30,  the  two  CLOs  had  a  total ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "outstanding balance of $521 million with a weighted average cost of S+2.38%, and the refinance resulted ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "in lowering the weighted average cost by 38 basis points to S+2.00%. The JPMorgan financing facility has a ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "total outstanding balance of approximately $651 million, a weighted average cost of S+2.17%, and a 2-year ",
        "box": [
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          186.03336554557268
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "term with three 1-year term extension options",
        "box": [
          132.96001,
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          372.00001,
          200.4333255455727
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u25aa",
        "box": [
          118.56001,
          204.6925,
          123.24801000000001,
          220.005
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "As of August 3, 2026, carried approximately $35.7 million in unrestricted cash",
        "box": [
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          546.48001,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Post-Q2 2026 Business Update ",
        "box": [
          25.2,
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          415.6219999999999,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "5",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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    ]
  },
  {
    "page_no": 6,
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    "cells": [
      {
        "text": "Summary Income Statement",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "($ in millions, except per share data)",
        "box": [
          127.49,
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          256.32999999999976,
          120.5788870303818
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "(Unaudited)",
        "box": [
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          131.78890703038184
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        "from_ocr": false,
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      {
        "text": "Net Interest Income",
        "box": [
          20.9,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$4.8",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Provision for Credit Losses",
        "box": [
          20.9,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$(47.0)",
        "box": [
          326.62,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Revenue / (Expenses) from REO Operations, net",
        "box": [
          20.9,
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          253.66000000000003,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$(1.8)",
        "box": [
          333.22,
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          362.92000000000013,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Impairment Loss on Real Estate Owned",
        "box": [
          20.9,
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          210.97999999999996,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$(6.1)",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Operating Expenses",
        "box": [
          20.9,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$(8.3)",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Dividends on Preferred Stock",
        "box": [
          20.9,
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          160.37999999999997,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$(3.6)",
        "box": [
          333.22,
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          362.92000000000013,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "GAAP Net (loss) attributable to common ",
        "box": [
          25.9,
          267.62362324,
          228.96,
          277.18974341677495
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "stockholders",
        "box": [
          25.9,
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          89.47999999999998,
          290.389733416775
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$(62.0)",
        "box": [
          324.85999,
          274.22360324,
          362.9199900000001,
          283.78972341677496
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net (loss) Per Basic Wtd. Avg. Common Share",
        "box": [
          25.9,
          300.10360324,
          254.92000000000004,
          309.669723416775
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$(1.29)",
        "box": [
          324.85999,
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          362.9199900000001,
          309.669723416775
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net (loss) Per Diluted Wtd. Avg. Common Share",
        "box": [
          25.9,
          324.10360324,
          262.40000000000003,
          333.669723416775
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$(1.29)",
        "box": [
          324.85999,
          324.10360324,
          362.9199900000001,
          333.669723416775
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Common Dividend Per Share",
        "box": [
          37.9,
          348.03360324000005,
          175.4,
          357.59972341677496
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.05",
        "box": [
          333.20001,
          348.03360324000005,
          362.9000100000001,
          357.59972341677496
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Series A Preferred Dividend Per Share",
        "box": [
          37.9,
          372.03360324000005,
          219.83999999999995,
          381.59972341677496
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.4375",
        "box": [
          320.0,
          372.03360324000005,
          362.90000000000015,
          381.59972341677496
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Basic Wtd. Avg. Common Shares",
        "box": [
          20.9,
          396.03360324000005,
          178.64,
          405.59972341677496
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "  47,999,208 ",
        "box": [
          296.89999,
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          364.7919900000002,
          405.59972341677496
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Diluted Wtd. Avg. Common Shares",
        "box": [
          20.9,
          420.03360324,
          186.12,
          429.59972341677496
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "  47,999,208 ",
        "box": [
          296.89999,
          420.03360324,
          364.7919900000002,
          429.59972341677496
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q2 2026 Financial Summary",
        "box": [
          25.2,
          51.57308584000003,
          368.208,
          74.18391534874087
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Summary Balance Sheet",
        "box": [
          472.45999,
          96.87756808,
          601.3399900000003,
          107.31333554557267
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "($ in millions, except per share data, reflects carrying values)",
        "box": [
          429.97,
          113.62170871999996,
          643.8259999999993,
          120.5788870303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(Unaudited)",
        "box": [
          516.71997,
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          557.0239700000001,
          131.78890703038184
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Cash",
        "box": [
          374.12,
          140.65362324,
          398.54,
          150.21974341677497
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$58.5",
        "box": [
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          699.61998,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Restricted Cash",
        "box": [
          374.12,
          162.40362324,
          450.67999999999995,
          171.96974341677497
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$49.0",
        "box": [
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          699.61998,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loans Held-for-Investment, net",
        "box": [
          374.12,
          184.15362324,
          521.08,
          193.71974341677497
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,225.9",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Real Estate Owned, Held-for-Investment, net (4)",
        "box": [
          374.12,
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          594.8400099999999,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$35.8",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Real Estate Owned, Held-for-Sale, net (5)",
        "box": [
          374.12,
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          562.98997,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$54.9",
        "box": [
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          699.61998,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Repurchase Facilities",
        "box": [
          374.12,
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          476.6399999999999,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$313.7",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Securitized (CLO) Debt",
        "box": [
          374.12,
          271.15362324,
          482.3599999999999,
          280.719743416775
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$521.6",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Secured Credit Facility",
        "box": [
          374.12,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$71.8",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Participations Sold",
        "box": [
          374.12,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$28.3",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Mortgage Loan Payable",
        "box": [
          374.12,
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          486.09999999999997,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$17.6",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Preferred Equity",
        "box": [
          374.12,
          358.15362324,
          450.02,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$205.7",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Common Equity (7)",
        "box": [
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          457.45,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$274.5",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total Stockholders' Equity",
        "box": [
          374.12,
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          499.0799999999999,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$480.3",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Common Shares Outstanding",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "48,198,166",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Book Value Per Common Share",
        "box": [
          374.12,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$5.70",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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    ]
  },
  {
    "page_no": 7,
    "width": 720.0,
    "height": 540.0,
    "cells": [
      {
        "text": "$5.83",
        "box": [
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        "from_ocr": false,
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      {
        "text": "$5.76",
        "box": [
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        "from_ocr": false,
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      {
        "text": "$5.71",
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        "from_ocr": false,
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      {
        "text": "$5.70",
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        "from_ocr": false,
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      {
        "text": "$7.05",
        "box": [
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          97.58826884899392,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$5.70",
        "box": [
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          648.6850985483334,
          324.0831461550821
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "3/31/2026",
        "box": [
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        "from_ocr": false,
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      {
        "text": "GAAP Net (Loss)",
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          157.9715871618146,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Series A Preferred ",
        "box": [
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          346.74347290366853,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Dividend Declaration",
        "box": [
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          349.1386239008038,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Common Stock ",
        "box": [
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          449.94330619249945,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Dividend Declaration",
        "box": [
          368.6497484615051,
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        "from_ocr": false,
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      {
        "text": "Equity Compensation, ",
        "box": [
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      {
        "text": "Net",
        "box": [
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          531.6574019822779,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "6/30/2026",
        "box": [
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      {
        "text": "Q2 2026 Earnings and Book Value Per Share",
        "box": [
          25.2,
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          74.18391534874087
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        "confidence": 1.0
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      {
        "text": "\u25aa",
        "box": [
          19.8,
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          109.68124
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "GAAP Net (Loss) attributable to common stockholders of $(62.0) million, or $(1.29) per basic weighted average common ",
        "box": [
          34.2,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "share",
        "box": [
          34.2,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "\u25aa",
        "box": [
          19.8,
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        "confidence": 1.0
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      {
        "text": "Book value per share of common stock at June\u00a030, 2026, was $5.70, inclusive of $(3.44) per basic common share of total ",
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      {
        "text": "CECL reserve",
        "box": [
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        "from_ocr": false,
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      },
      {
        "text": "7",
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      {
        "text": "BOOK VALUE PER COMMON SHARE OUTSTANDING ROLLFORWARD",
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      {
        "text": "Represents $(1.29) GAAP Net (Loss) per ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "basic common share",
        "box": [
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          255.80612128797725
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$(1.22)",
        "box": [
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          272.1761212879772
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$(0.07)",
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          320.96999,
          300.6661112879773
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$(0.05)",
        "box": [
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          300.6661112879773
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$(0.01)",
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          300.99612128797725
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        "from_ocr": false,
        "confidence": 1.0
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  },
  {
    "page_no": 8,
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      {
        "text": "Loan Investment Portfolio Credit Overview",
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        "text": "8",
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      {
        "text": "CECL RESERVE BY QUARTER ($ in millions) ",
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      {
        "text": "CECL RESERVE AS % OF COMMITMENTS BY QUARTER",
        "box": [
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      {
        "text": "STABILIZED LTV AT ORIGINATION",
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      {
        "text": "RISK RATINGS",
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      {
        "text": "Weighted average portfolio risk rating of 3.2",
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      {
        "text": "$155.1",
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      {
        "text": "$133.6",
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      {
        "text": "$148.4",
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        "text": "$148.5",
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        "text": "$165.8",
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        "text": "$57.5",
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        "text": "$47.2",
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        "text": "$28.9",
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        "text": "$104.5",
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      {
        "text": "General",
        "box": [
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        "from_ocr": false,
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        "text": "Specific",
        "box": [
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      {
        "text": "6/30/2025",
        "box": [
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        "text": "9/30/2025",
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        "text": "12/31/2025",
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        "text": "3/31/2026",
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        "text": "6/30/2026",
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        "text": "8.1%",
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        "text": "7.4%",
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        "text": "8.4%",
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        "text": "9.4%",
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        "text": "11.4%",
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        "text": "6/30/2025",
        "box": [
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        "text": "9/30/2025",
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        "text": "12/31/2025",
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        "text": "3/31/2026",
        "box": [
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        "text": "6/30/2026",
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        "text": "19.6%",
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        "text": "60-65%",
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        "text": "65-70%",
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        "text": "70-75%",
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        "text": "75-80%",
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        "text": "7.6%",
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        "text": "43.5%",
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        "text": "15.7%",
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        "text": "18.2%",
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      {
        "text": "1",
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        "text": "2",
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        "text": "3",
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        "from_ocr": false,
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      {
        "text": "4",
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        "from_ocr": false,
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      {
        "text": "5",
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  {
    "page_no": 9,
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    "cells": [
      {
        "text": "3/31/2026",
        "box": [
          52.565421543043875,
          449.50074141218556,
          104.98427262785097,
          458.2132590812414
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6/30/2026",
        "box": [
          606.2255683184636,
          449.50074141218556,
          658.6444194032707,
          458.2132590812414
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q2 2026 Loan Investment Portfolio Activity",
        "box": [
          25.2,
          51.57308584000003,
          543.994,
          74.18391534874087
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u25aa",
        "box": [
          19.8,
          98.196865,
          23.316000000000003,
          109.68124
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net  loan  portfolio  activity  of  $(121.8)  million  in  unpaid  principal  balance,  attributed  to  loan  repayments,  sales  and ",
        "box": [
          34.2,
          98.16756808000002,
          698.4400200000006,
          108.60333554557269
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "amortization, of $(129.8) million, partially offset by increases of $8.0 million from fundings",
        "box": [
          34.2,
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          123.00333554557267
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "9",
        "box": [
          682.59003,
          494.230068,
          688.45003,
          502.6851442438944
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "UNPAID PRINCIPAL BALANCE ROLLFORWARD (8)  ($ in millions)",
        "box": [
          177.67999,
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          541.2959899999997,
          187.4633555455727
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Unpaid Principal ",
        "box": [
          48.39,
          290.0070802,
          114.333,
          297.6166488195049
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Balance ",
        "box": [
          64.46,
          300.8070702,
          98.23699999999998,
          308.41663881950495
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,514.9",
        "box": [
          61.14,
          311.61569355999995,
          98.92200000000004,
          319.4425191591795
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "40",
        "box": [
          62.95,
          328.50567356,
          73.75000000000001,
          336.3324991591795
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " loans",
        "box": [
          73.75,
          328.6770602,
          97.13199999999999,
          336.2866288195049
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Repayments",
        "box": [
          193.31,
          257.7070602,
          241.89200000000008,
          265.31662881950496
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$(53.8)",
        "box": [
          202.74001,
          271.51568356,
          232.42201000000003,
          279.34250915917954
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Fundings",
        "box": [
          476.39999,
          278.1570702,
          511.35599,
          285.7666388195049
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$8.0",
        "box": [
          484.41,
          291.96569356,
          503.30099999999993,
          299.7925191591795
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Unpaid Principal ",
        "box": [
          600.62,
          311.7070602,
          666.5630000000002,
          319.31662881950496
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Balance ",
        "box": [
          616.69,
          322.5070802,
          650.4670000000001,
          330.1166488195049
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,393.1",
        "box": [
          613.37,
          333.31567356,
          651.1519999999999,
          341.1424991591795
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "38",
        "box": [
          616.82001,
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          627.62001,
          358.2324991591795
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " loans",
        "box": [
          627.62,
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          358.18662881950496
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Unfunded ",
        "box": [
          61.45,
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          101.24799999999999,
          277.826638819505
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Commitments $68.0",
        "box": [
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          120.555,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Unfunded ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Commitments $57.2",
        "box": [
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          674.42501,
          304.50662881950495
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Resolutions",
        "box": [
          333.14001,
          271.3770702,
          378.34701000000007,
          278.98663881950495
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$(76.0)",
        "box": [
          340.88,
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          370.56199999999984,
          293.0124991591795
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        "from_ocr": false,
        "confidence": 1.0
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    ]
  },
  {
    "page_no": 10,
    "width": 720.0,
    "height": 540.0,
    "cells": [
      {
        "text": "Loan Investment Portfolio Overview",
        "box": [
          25.2,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "10",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Well-diversified and granular portfolio comprised of senior loans with a weighted average stabilized LTV at ",
        "box": [
          27.29,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "origination of 66.1%",
        "box": [
          27.29,
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          150.44,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total Loan Commitments",
        "box": [
          55.99,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1.5 billion",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Unpaid Principal Balance",
        "box": [
          56.7,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1.4 billion",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Number of Loans",
        "box": [
          76.74,
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        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "38",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Average UPB",
        "box": [
          88.37,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "~ $36.7 million",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Realized Loan Portfolio Yield (9)",
        "box": [
          42.56,
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          200.8822,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6.0%",
        "box": [
          276.14001,
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          302.54001,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Weighted Average Stabilized LTV",
        "box": [
          36.68,
          399.52758808,
          206.83999999999995,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "at Origination",
        "box": [
          86.69,
          411.52758808,
          156.76999999999995,
          421.96335554557265
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "66.1%",
        "box": [
          272.54001,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Weighted Average Fully-Extended",
        "box": [
          36.32,
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          207.1999999999999,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Remaining Term (10)",
        "box": [
          72.36,
          456.985795752,
          171.07221,
          468.46335554557265
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.7 years",
        "box": [
          264.51999,
          452.02758808,
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          462.46335554557265
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "KEY LOAN PORTFOLIO STATISTICS",
        "box": [
          98.51,
          141.48757808000005,
          278.2699999999999,
          151.92334554557272
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "PROPERTY TYPE (11)(12)",
        "box": [
          475.17999,
          140.445765752,
          588.6622,
          151.92334554557272
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "REGION (12)",
        "box": [
          504.39001,
          330.855785752,
          559.45224,
          342.3333455455727
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Office, 48.6%",
        "box": [
          543.0512001083843,
          240.43087868112957,
          590.4974278722572,
          247.41588081895452
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Multifamily, 30.6%",
        "box": [
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          255.37900644732002,
          531.1547621856241,
          262.364008585145
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Industrial, 9.3%",
        "box": [
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        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Hotel, 6.9%",
        "box": [
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          175.78539912204803,
          473.26009201222803,
          182.77040125987298
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Retail, 1.2%",
        "box": [
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          525.2225643477127,
          173.11003038792347
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Other, 3.4%",
        "box": [
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          586.3410763272401,
          173.23718369079052
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Northeast, 28.0%",
        "box": [
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          422.3834232076319,
          596.0386753495143,
          429.3510401772537
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Southwest, 26.9%",
        "box": [
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          454.66341660193103,
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          461.6310335715528
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Southeast, 26.7%",
        "box": [
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          439.00070244389667,
          527.7287179169082,
          445.9683194135185
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "West, 9.6%",
        "box": [
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          455.7630440892855,
          387.2853406069785
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Midwest, 8.8%",
        "box": [
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          357.7564776872657,
          489.3010506733245,
          364.7240946568876
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        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 11,
    "width": 720.0,
    "height": 540.0,
    "cells": [
      {
        "text": "\u25aa",
        "box": [
          28.79,
          92.316865,
          32.306,
          103.80124
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Five loans risk rated '5' with an aggregate unpaid principal balance of $252.9 million",
        "box": [
          43.19,
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        "confidence": 1.0
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      {
        "text": "\u25aa",
        "box": [
          28.79,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Actively pursuing resolution options, which may include a property sale by the borrower, a note sale, a foreclosure/deed-in-",
        "box": [
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        "confidence": 1.0
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      {
        "text": "lieu and/or a loan restructuring ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "\u25aa",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Specific CECL reserves on loans risk rated '5' of approximately 47.4% of unpaid principal balance ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Overview of Risk-Rated '5' Loans",
        "box": [
          25.2,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "11",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Minneapolis, MN",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Office (13)",
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        "confidence": 1.0
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      {
        "text": "Tempe, AZ  ",
        "box": [
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        "from_ocr": false,
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      {
        "text": "Hotel (14)",
        "box": [
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        "confidence": 1.0
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      {
        "text": "Stockbridge, GA",
        "box": [
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        "from_ocr": false,
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      {
        "text": "Multifamily (15)",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "New Haven, CT ",
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        "text": "Hotel (16)",
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "San Diego, CA ",
        "box": [
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        "text": "Office (17)",
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        "from_ocr": false,
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      {
        "text": "Loan Structure",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior floating-rate",
        "box": [
          206.21001,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Senior floating-rate",
        "box": [
          304.45999,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior floating-rate",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Senior floating-rate",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Senior floating-rate",
        "box": [
          599.21002,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Origination Date",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "August 2019",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "January 2018 ",
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          253.27612128797722
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      {
        "text": "July 2022 ",
        "box": [
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      {
        "text": "October 2018 ",
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      {
        "text": "December 2023 ",
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Collateral Property",
        "box": [
          32.24,
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        "from_ocr": false,
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      {
        "text": "409,000 sq. ft. ",
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      {
        "text": "office",
        "box": [
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      {
        "text": "186-key             ",
        "box": [
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        "from_ocr": false,
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      },
      {
        "text": "hotel with retail",
        "box": [
          312.06,
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        "from_ocr": false,
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      },
      {
        "text": "284 unit   ",
        "box": [
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      {
        "text": "multifamily",
        "box": [
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      {
        "text": "72-key hotel",
        "box": [
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      {
        "text": "384,397 sq. ft. ",
        "box": [
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        "from_ocr": false,
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      {
        "text": "office",
        "box": [
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        "from_ocr": false,
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      },
      {
        "text": "Total Commitment",
        "box": [
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      {
        "text": "$93 million",
        "box": [
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      },
      {
        "text": "$30 million",
        "box": [
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      {
        "text": "$53 million",
        "box": [
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      {
        "text": "$15 million",
        "box": [
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      {
        "text": "$65 million",
        "box": [
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      {
        "text": "Current UPB",
        "box": [
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      {
        "text": "$93 million",
        "box": [
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      {
        "text": "$27 million",
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      {
        "text": "$52 million",
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      {
        "text": "$15 million",
        "box": [
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      {
        "text": "$65 million",
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      {
        "text": "Cash Coupon *",
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        "text": "S+2.8%",
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        "text": "S+5.2%",
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      {
        "text": "S+2.8%",
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        "text": "S+6.2%",
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      {
        "text": "S+5.5%",
        "box": [
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          347.0261212879773
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        "from_ocr": false,
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      {
        "text": "* Cash coupon does not include origination or exit fees. Weighted average cash coupon excludes fixed rate loans",
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  {
    "page_no": 12,
    "width": 720.0,
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      {
        "text": "$1,723",
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        "text": "$1,404",
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      {
        "text": "2021",
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      {
        "text": "2022",
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        "text": "2023",
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        "text": "2024",
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        "text": "2025",
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      {
        "text": "Q2'26",
        "box": [
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      {
        "text": "Office Loan Portfolio Overview",
        "box": [
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      {
        "text": "12",
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      {
        "text": "\u25aa",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Since 2021, reduced the office exposure by $(1.0) billion, or ",
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        "from_ocr": false,
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      },
      {
        "text": "about  59%,  primarily  through  repayments,  paydowns  and ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "proactive loan resolutions",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u25aa",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Granular office portfolio across 13 MSAs and 11 States",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u25aa",
        "box": [
          20.45,
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          23.966,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "53% CBD locations, 47% suburban locations",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u25aa",
        "box": [
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          23.966,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "34% Top 5 markets, 66% secondary markets",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "\u25aa",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Average unpaid principal balance $37.4 million",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "\u25aa",
        "box": [
          20.45,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Weighted average Stabilized LTV at Origination   of 67.0%",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u25aa",
        "box": [
          20.45,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5-rated office exposure in Minneapolis and San Diego",
        "box": [
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        "confidence": 1.0
      },
      {
        "text": "\u25aa",
        "box": [
          20.45,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "No  office  exposure  in  Washington  DC,  Downtown  LA,  San ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Francisco Bay Area, Chicago, Portland or Seattle",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "OFFICE PORTFOLIO BY REGION (11)(12)",
        "box": [
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        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "REDUCTION IN OFFICE EXPOSURE (11)  ($ in millions, reflects UPB)",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "59%",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Southeast, 32.5%",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Northeast, 29.7%",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "West, 15.8%",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Southwest, 12.3%",
        "box": [
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          380.28523963682005
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Midwest, 9.7%",
        "box": [
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          343.40423750349726
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        "from_ocr": false,
        "confidence": 1.0
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    ]
  },
  {
    "page_no": 13,
    "width": 720.0,
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    "cells": [
      {
        "text": "\u25aa",
        "box": [
          28.8,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Property: 140,000 square foot, Class 'A' office building ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "with ground floor retail space and a 499-space parking ",
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        "from_ocr": false,
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      {
        "text": "garage",
        "box": [
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        "confidence": 1.0
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        "text": "\u25aa",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Carrying Value (5) : $54.9 million",
        "box": [
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        "confidence": 1.0
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        "text": "\u25aa",
        "box": [
          28.8,
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          32.316,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Strategy: Improve operating performance and expected ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "sale in late 2026",
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Real Estate Owned",
        "box": [
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        "from_ocr": false,
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      {
        "text": "13",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Miami Beach, FL",
        "box": [
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        "confidence": 1.0
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      {
        "text": "Maynard, MA",
        "box": [
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        "confidence": 1.0
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      {
        "text": "\u25aa",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Property: 1,050,000 square foot, 'brick and beam' ",
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        "confidence": 1.0
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      {
        "text": "office campus with 130 self storage units, 13 buildings, ",
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        "from_ocr": false,
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      {
        "text": "situated on 53 acres",
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        "from_ocr": false,
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      {
        "text": "\u25aa",
        "box": [
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      {
        "text": "Carrying Value (4) : $35.8 million",
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      {
        "text": "\u25aa",
        "box": [
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        "from_ocr": false,
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      {
        "text": "Strategy: Improve operating performance and evaluate for ",
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        "from_ocr": false,
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      {
        "text": "eventual sale",
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      {
        "text": "A",
        "box": [
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        "from_ocr": true,
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      {
        "text": "FINANCING SUMMARY ($ in millions)",
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        "text": "($ in millions)",
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        "text": "Total ",
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        "text": "Capacity",
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        "text": "Outstanding ",
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        "text": "Balance",
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        "text": "Average Cost",
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        "text": "Advance ",
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        "text": "Rate",
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        "text": "Repurchase Facilities",
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      {
        "text": "$ ",
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      {
        "text": "925  $ ",
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        "text": "314 ",
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        "text": "S+2.42%",
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        "text": "  53.8 %",
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        "text": "Secured Credit Facility",
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      {
        "text": "$ ",
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        "text": "100  $ ",
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        "text": "72 ",
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        "text": "  48.8 %",
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      {
        "text": "$ ",
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        "text": "18 ",
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        "text": "S+3.05%",
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      {
        "text": "  51.8 %",
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        "text": "$ ",
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        "text": "31 ",
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        "text": "S+5.67%",
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      {
        "text": "n/m (18)",
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        "text": "CLO-3 (GPMT 2021-FL3)",
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        "text": "$ ",
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        "text": "203 ",
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        "text": "S+2.98%",
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        "text": "  72.7 %",
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        "text": "CLO-4 (GPMT 2021-FL4)",
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      {
        "text": "$ ",
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        "text": "318 ",
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        "text": "S+1.99%",
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        "text": "  76.5 %",
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        "text": "Total Borrowings",
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        "text": "$ ",
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        "text": "956 ",
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        "text": "Preferred Equity",
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        "text": "$ ",
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        "text": "206 ",
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        "text": "Common Equity (7)",
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      {
        "text": "$ ",
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        "text": "275 ",
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        "text": "Total Stockholders' Equity",
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      {
        "text": "$ ",
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        "text": "480 ",
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      {
        "text": "Funding Mix and Capitalization Highlights",
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        "text": "14",
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        "text": "FUNDING MIX",
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      {
        "text": "WELL-BALANCED CAPITAL STRUCTURE WITH MODERATE LEVERAGE",
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          18.0,
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      {
        "text": "LEVERAGE RATIOS",
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      {
        "text": "0.7",
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        "text": "1.9",
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      {
        "text": "Recourse Leverage",
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        "text": "Total Leverage",
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      {
        "text": "6/30/2026",
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        "text": "Repurchase ",
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        "text": "Facilities",
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        "text": "Secured ",
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        "text": "Facility",
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        "text": "Mortgage ",
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        "text": "Participations ",
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        "text": "Sold",
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        "text": "\u25aa",
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        "text": "Generally, seek to match fund assets and liabilities to minimize interest-rate risk and ",
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        "text": "duration",
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        "text": "\u25aa",
        "box": [
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        "text": "Proven access to diverse sources of public and private equity and debt capital at the ",
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        "text": "corporate and asset level ",
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        "text": "\u25aa",
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        "text": "Aim to maintain ample liquidity across market cycles; $58.5 million of unrestricted ",
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        "text": "cash",
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        "text": "Endnotes",
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        "text": "Endnotes",
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          74.18391534874087
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "16",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "1)",
        "box": [
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          31.43,
          113.69333554557267
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Includes maximum loan commitments. Unpaid loan principal balance of $1.4 billion",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "2)",
        "box": [
          20.63,
          118.25756808,
          31.43,
          128.69333554557267
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Represents Net (loss) attributable to common stockholders",
        "box": [
          43.88,
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          355.15999999999997,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "3)",
        "box": [
          20.63,
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          31.43,
          143.69333554557267
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Non-GAAP measure. See slide 23 in the Appendix for a reconciliation to financial results prepared in accordance with GAAP",
        "box": [
          43.88,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4)",
        "box": [
          20.63,
          148.25756808,
          31.43,
          158.69333554557267
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Includes $5.8 million in other assets, net of other liabilities related to leases",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5)",
        "box": [
          20.63,
          163.25756808,
          31.43,
          173.69333554557267
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Includes $7.3 million in real estate owned liabilities, held-for-sale",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6)",
        "box": [
          20.63,
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          31.43,
          188.69333554557267
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Represents an annualized dividend yield based on a closing price of $1.50 on June\u00a030, 2026",
        "box": [
          43.88,
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          534.2100000000003,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7)",
        "box": [
          20.63,
          193.25756808,
          31.43,
          203.69333554557267
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "See slide 23 in the Appendix for reconciliation of Common Stockholders' Equity",
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8)",
        "box": [
          20.63,
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          31.43,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Does not include unamortized premiums, unamortized net deferred origination fees and allowance for credit losses which, ",
        "box": [
          43.88,
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        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "when included with the unpaid principal balances, represents the GAAP carrying value of the loans held-for-investment in the  ",
        "box": [
          43.88,
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        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "balance sheet. The GAAP carrying value as of March\u00a031, 2026, was $1.4 billion and as of June\u00a030, 2026, was $1.2 billion. ",
        "box": [
          43.88,
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          247.7033455455727
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "The GAAP carrying value does not include accrued interest receivables, exit fee receivables and other receivables, which are ",
        "box": [
          43.88,
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          707.6720000000008,
          262.1033355455727
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "reflected separately in the balance sheet. Unfunded commitments are not included in the unpaid principal balance or GAAP ",
        "box": [
          43.88,
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          707.6000000000007,
          276.50333554557267
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "carrying value",
        "box": [
          43.88,
          280.46758808,
          115.40000000000002,
          290.9033555455727
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "9)",
        "box": [
          20.63,
          295.25756808,
          31.43,
          305.6933355455727
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Includes nonaccrual loans and other investments",
        "box": [
          43.88,
          295.46758808,
          302.1199999999999,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "10) Assumes all extension options are exercised and excludes three loans that have passed their maturity date and are not ",
        "box": [
          20.63,
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          707.5760000000007,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "eligible for extension, if applicable",
        "box": [
          43.88,
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          223.15999999999988,
          335.1533555455727
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "11) Mixed-use properties represented based on allocated loan amounts",
        "box": [
          20.63,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "12) Percentages are based off of carrying value",
        "box": [
          20.63,
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          270.9199999999999,
          365.1533555455727
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "13) Loan was placed on nonaccrual status in Q3 2022 ",
        "box": [
          20.63,
          369.50756808,
          313.3999999999999,
          380.1533555455727
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "14) Loan was placed on nonaccrual status in Q3 2025",
        "box": [
          20.63,
          384.50756808,
          309.7999999999999,
          395.1533555455727
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "15) Loan was placed on nonaccrual status in Q4 2025",
        "box": [
          20.63,
          399.50756808,
          309.7999999999999,
          410.1533555455727
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "16) Loan was placed on nonaccrual status in Q1 2026",
        "box": [
          20.63,
          414.50756808,
          309.7999999999999,
          425.1533555455727
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "17) Loan was placed on nonaccrual status in Q2 2026",
        "box": [
          20.63,
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          309.7999999999999,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "18) Not meaningful due to 100% loan participations outside of CLO were sold",
        "box": [
          20.63,
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        "from_ocr": false,
        "confidence": 1.0
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    ]
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  {
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    "cells": [
      {
        "text": "Appendix",
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  {
    "page_no": 18,
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    "cells": [
      {
        "text": "*  Cash coupon does not include origination or exit fees. Weighted average cash coupon excludes fixed rate loans",
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        "confidence": 1.0
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      {
        "text": "**  All-in yield at origination includes net origination fees and exit fees, but does not include future fundings, and is expressed as a monthly equivalent. Weighted average yield excludes fixed rate loans",
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      {
        "text": "***  Includes maximum commitments and outstanding balances related to other investments of $20.4\u00a0million and $12.7\u00a0million, respectively",
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      {
        "text": "Summary of Investment Portfolio",
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      {
        "text": "18",
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        "confidence": 1.0
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      {
        "text": "($ in millions)",
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        "text": "Maximum ",
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      {
        "text": "Loan ",
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        "text": "Commitment",
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      {
        "text": "Principal ",
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        "text": "Balance",
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        "text": "Carrying ",
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        "text": "Value",
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        "text": "Cash ",
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        "text": "Coupon *",
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      {
        "text": "All-in Yield at ",
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      {
        "text": "Origination **",
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      {
        "text": "Original ",
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      {
        "text": "Term ",
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      {
        "text": "(Years)",
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      {
        "text": "Initial LTV at ",
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      {
        "text": "Origination",
        "box": [
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        "from_ocr": false,
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      {
        "text": "Stabilized ",
        "box": [
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        "text": "LTV at ",
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      {
        "text": "Origination",
        "box": [
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        "from_ocr": false,
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      {
        "text": "Senior Loans ***",
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          96.62000000000002,
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        "confidence": 1.0
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      {
        "text": "$1,450.3",
        "box": [
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          226.12,
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        "confidence": 1.0
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      {
        "text": "$1,393.1",
        "box": [
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          291.37,
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      {
        "text": "$1,225.9",
        "box": [
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          356.62001000000004,
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      {
        "text": "S+3.59%",
        "box": [
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          411.96999999999997,
          188.1761212879772
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        "confidence": 1.0
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      {
        "text": "S+3.91%",
        "box": [
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          179.47964839999997,
          482.08999,
          188.1761212879772
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        "confidence": 1.0
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      {
        "text": "3.0",
        "box": [
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        "text": "69.5%",
        "box": [
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          611.9300000000001,
          188.1761212879772
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        "confidence": 1.0
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      {
        "text": "66.1%",
        "box": [
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          682.4300000000001,
          188.1761212879772
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        "confidence": 1.0
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      {
        "text": "Total Weighted/Average",
        "box": [
          20.63,
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          135.46999999999997,
          217.40974341677497
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$1,450.3",
        "box": [
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          226.12,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$1,393.1",
        "box": [
          249.39,
          208.72964839999997,
          291.37,
          217.4261212879772
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,225.9",
        "box": [
          314.64001,
          208.72964839999997,
          356.62001000000004,
          217.4261212879772
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "S+3.59%",
        "box": [
          371.78,
          208.72964839999997,
          411.96999999999997,
          217.4261212879772
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+3.91%",
        "box": [
          441.89999,
          208.72964839999997,
          482.08999,
          217.4261212879772
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "3.0",
        "box": [
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          538.12,
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        "confidence": 1.0
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        "text": "69.5%",
        "box": [
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          611.9300000000001,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "66.1%",
        "box": [
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          682.4300000000001,
          217.4261212879772
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        "from_ocr": false,
        "confidence": 1.0
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  {
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      {
        "text": "Loan Investment Portfolio",
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        "text": "19",
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "($ in millions)",
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        "text": "Type",
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        "text": "Origination ",
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        "text": "Date",
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        "text": "Maximum ",
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        "from_ocr": false,
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      {
        "text": "Loan ",
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        "text": "Commitment",
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      {
        "text": "Principal ",
        "box": [
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      {
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          431.57201000000003,
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        "box": [
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        "text": "  70.2 %",
        "box": [
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          134.41170871999998,
          648.7460199999998,
          141.3688870303818
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "  74.2 %",
        "box": [
          675.83002,
          134.41170871999998,
          701.2460199999998,
          141.3688870303818
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        "from_ocr": false,
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          47.49399999999999,
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        "text": "  73.1 %",
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          648.7460199999998,
          156.3688870303818
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        "from_ocr": false,
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        "box": [
          675.83002,
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          701.2460199999998,
          156.3688870303818
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          623.33002,
          314.04171872,
          648.7460199999998,
          320.9988970303818
        ],
        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "  75.2 %",
        "box": [
          675.83002,
          314.04171872,
          701.2460199999998,
          320.9988970303818
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        "from_ocr": false,
        "confidence": 1.0
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        "box": [
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          52.29399999999999,
          335.61888703038176
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        "from_ocr": false,
        "confidence": 1.0
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        "box": [
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          112.08000000000001,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "02/22",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "42.4",
        "box": [
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          226.12200000000004,
          335.61888703038176
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "42.4",
        "box": [
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          328.66170872,
          278.62199000000004,
          335.61888703038176
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "42.2",
        "box": [
          309.07999,
          328.66170872,
          325.87199000000004,
          335.61888703038176
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+3.05%",
        "box": [
          341.29999,
          328.66170872,
          373.45199,
          335.61888703038176
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+3.40%",
        "box": [
          399.42001,
          328.66170872,
          431.57201000000003,
          335.61888703038176
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "3.0",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "NJ",
        "box": [
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          522.49001,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Industrial",
        "box": [
          554.52002,
          328.66170872,
          586.97602,
          335.61888703038176
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "  75.0 %",
        "box": [
          623.33002,
          328.66170872,
          648.7460199999998,
          335.61888703038176
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "  59.5 %",
        "box": [
          675.83002,
          328.66170872,
          701.2460199999998,
          335.61888703038176
        ],
        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Asset 15",
        "box": [
          20.63,
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          52.29399999999999,
          350.61888703038176
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior",
        "box": [
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          112.08000000000001,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "09/21",
        "box": [
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          161.68001000000004,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "40.2",
        "box": [
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          226.12200000000004,
          350.61888703038176
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "40.2",
        "box": [
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          278.62199000000004,
          350.61888703038176
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "40.2",
        "box": [
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          325.87199000000004,
          350.61888703038176
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+5.00%",
        "box": [
          341.29999,
          343.66170872,
          373.45199,
          350.61888703038176
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "S+5.12%",
        "box": [
          399.42001,
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          431.57201000000003,
          350.61888703038176
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "3.0",
        "box": [
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          474.372,
          350.61888703038176
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        "from_ocr": false,
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      {
        "text": "MN",
        "box": [
          512.33002,
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          524.1620199999999,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Hotel",
        "box": [
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          579.9419899999999,
          350.61888703038176
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "  68.4 %",
        "box": [
          623.33002,
          343.66170872,
          648.7460199999998,
          350.61888703038176
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "  57.8 %",
        "box": [
          675.83002,
          343.66170872,
          701.2460199999998,
          350.61888703038176
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Assets 16-",
        "box": [
          20.63,
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          58.21399999999999,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "38",
        "box": [
          58.21,
          357.91170872,
          67.81,
          364.86888703038176
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Various",
        "box": [
          87.84,
          357.91170872,
          113.912,
          364.86888703038176
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Various",
        "box": [
          136.96001,
          357.91170872,
          163.03200999999996,
          364.86888703038176
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$536.6",
        "box": [
          199.73,
          357.91170872,
          226.12200000000004,
          364.86888703038176
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$506.0",
        "box": [
          252.23,
          357.91170872,
          278.622,
          364.86888703038176
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$504.2",
        "box": [
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          357.91170872,
          325.87201000000005,
          364.86888703038176
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+3.68%",
        "box": [
          341.29999,
          357.91170872,
          373.45200000000006,
          364.86888703038176
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+4.17%",
        "box": [
          399.42001,
          357.91170872,
          431.57202000000007,
          364.86888703038176
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "3.1",
        "box": [
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          357.91170872,
          474.372,
          364.86888703038176
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Various",
        "box": [
          505.20999,
          357.91170872,
          531.28199,
          364.86888703038176
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Various",
        "box": [
          557.71002,
          357.91170872,
          583.78202,
          364.86888703038176
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "  66.3 %",
        "box": [
          623.33002,
          357.91170872,
          648.7460199999998,
          364.86888703038176
        ],
        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "  62.9 %",
        "box": [
          675.83002,
          357.91170872,
          701.2460199999998,
          364.86888703038176
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Allowance for ",
        "box": [
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          69.39800000000001,
          377.36888703038176
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Credit Losses",
        "box": [
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          68.76599999999999,
          385.36888703038176
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$ ",
        "box": [
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          291.08,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "(163.5) ",
        "box": [
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          330.152,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total/Weighted Average ***",
        "box": [
          24.63,
          394.397167168,
          122.39000000000001,
          402.0488870303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,450.3",
        "box": [
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          226.12399000000005,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$1,393.1",
        "box": [
          245.03999,
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          278.62399000000005,
          402.0488870303818
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$1,225.9",
        "box": [
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          325.87401000000006,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+3.59%",
        "box": [
          341.38,
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          373.37200000000007,
          402.0488870303818
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "S+3.91%",
        "box": [
          399.5,
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          431.4920000000001,
          402.0488870303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.0",
        "box": [
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          474.372,
          402.0488870303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u00a0",
        "box": [
          536.47998,
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          541.8799799999999,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u00a0",
        "box": [
          588.97998,
          391.75137712000003,
          594.3799799999999,
          407.40502831835903
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "  69.5 %",
        "box": [
          623.33002,
          395.09170872000004,
          648.7460199999998,
          402.0488870303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "  66.1 %",
        "box": [
          675.83002,
          395.09170872000004,
          701.2460199999998,
          402.0488870303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "*  Cash coupon does not include origination or exit fees. Weighted average cash coupon excludes fixed rate loans",
        "box": [
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          361.6639999999996,
          495.5952849015841
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "**  All-in yield at origination includes net origination fees and exit fees, but does not include future fundings, and is expressed as a monthly equivalent. Weighted average yield excludes fixed rate loans",
        "box": [
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          625.4099999999995,
          503.9952749015841
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "***  Includes maximum commitments and outstanding balances related to other investments of $20.4\u00a0million and $12.7\u00a0million, respectively",
        "box": [
          16.66,
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        "confidence": 1.0
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    ]
  },
  {
    "page_no": 20,
    "width": 720.0,
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    "cells": [
      {
        "text": "Average Balances and Yields/Cost of Funds",
        "box": [
          25.2,
          51.57308584000003,
          555.3139999999997,
          74.18391534874087
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        "confidence": 1.0
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      {
        "text": "20",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Quarter Ended June\u00a030, 2026",
        "box": [
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          519.48001,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "($ in thousands)",
        "box": [
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          121.92171872,
          138.418,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Average Balance *",
        "box": [
          296.0,
          120.19147145999995,
          372.25998999999996,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Interest Income/Expense",
        "box": [
          407.60001,
          121.05962840000001,
          517.9100099999998,
          129.75610128797723
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Net Yield/Cost of Funds",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Interest-earning assets",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loans held-for-investment",
        "box": [
          99.01,
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          188.7219999999999,
          169.7688870303818
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Senior loans **",
        "box": [
          117.01,
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          167.07000000000002,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,436,872",
        "box": [
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          399.0040100000001,
          187.0188870303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$21,413",
        "box": [
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          521.252,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "  6.0 %",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Total loan interest income/net asset yield",
        "box": [
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          263.6179999999998,
          204.2688870303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,436,872",
        "box": [
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          399.0040100000001,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$21,413",
        "box": [
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          521.252,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "  6.0 %",
        "box": [
          620.90002,
          197.31170871999996,
          640.8840199999999,
          204.2688870303818
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Other - Interest on cash and cash equivalents",
        "box": [
          99.01,
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          258.2339999999998,
          221.5188870303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$415",
        "box": [
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          521.2499899999999,
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        "confidence": 1.0
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      {
        "text": "Total interest income",
        "box": [
          117.01,
          231.81170871999996,
          190.8659999999999,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$21,828",
        "box": [
          490.06,
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          521.252,
          238.7688870303818
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Interest-bearing liabilities",
        "box": [
          81.01,
          265.56170871999996,
          168.95399999999992,
          272.5188870303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "   Borrowings collateralized by:",
        "box": [
          81.01,
          282.81170872,
          187.31399999999994,
          289.7688870303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loans held-for-investment",
        "box": [
          99.01,
          300.06170872,
          188.7219999999999,
          307.0188870303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior loans",
        "box": [
          117.01,
          317.31170872,
          160.83399999999992,
          324.2688870303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$909,687",
        "box": [
          363.01001,
          317.31170872,
          399.0020100000001,
          324.2688870303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$16,349",
        "box": [
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          317.31170872,
          521.252,
          324.2688870303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "  7.2 %",
        "box": [
          620.90002,
          317.31170872,
          640.8840199999999,
          324.2688870303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Real estate owned",
        "box": [
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          333.81170872,
          182.0979999999999,
          340.7688870303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "37,377",
        "box": [
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          399.00199000000003,
          340.7688870303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "697",
        "box": [
          506.85001,
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          521.25001,
          340.7688870303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "  7.5 %",
        "box": [
          620.90002,
          333.81170872,
          640.8840199999999,
          340.7688870303818
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Total interest expense/cost of funds",
        "box": [
          117.01,
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      {
        "text": "$947,064",
        "box": [
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      {
        "text": "$17,046",
        "box": [
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      {
        "text": "  7.2 %",
        "box": [
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        "from_ocr": false,
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      {
        "text": "Net interest income/spread",
        "box": [
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      {
        "text": "$4,782",
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      {
        "text": "  (1.2)  %",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "* Average balance represents average amortized cost on loans held-for-investment",
        "box": [
          19.0,
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      {
        "text": "** Average balance includes outstanding balances related to other investments of $12.7\u00a0million",
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  },
  {
    "page_no": 21,
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      {
        "text": "Condensed Consolidated Balance Sheets",
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        "text": "21",
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      {
        "text": "GRANITE POINT MORTGAGE TRUST INC.",
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      {
        "text": "CONDENSED CONSOLIDATED BALANCE SHEETS",
        "box": [
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          376.092,
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      {
        "text": "(in thousands, except share data)",
        "box": [
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          347.532,
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      {
        "text": "June 30,",
        "box": [
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        "confidence": 1.0
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      {
        "text": "2026",
        "box": [
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          568.12,
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        "from_ocr": false,
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      {
        "text": "December 31,",
        "box": [
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      {
        "text": "2025",
        "box": [
          623.62,
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      {
        "text": "ASSETS",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(unaudited)",
        "box": [
          538.84998,
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          573.4159799999999,
          137.61530490158407
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loans held-for-investment",
        "box": [
          44.63,
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          134.34200000000004,
          148.85890703038183
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          523.13,
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          530.3299999999999,
          148.85890703038183
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,389,380 ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$ ",
        "box": [
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          609.8299999999999,
          148.85890703038183
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "1,683,644 ",
        "box": [
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          670.5099999999994,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Allowance for credit losses",
        "box": [
          44.63,
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          138.31800000000004,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": " ",
        "box": [
          523.13,
          153.15172872,
          525.53,
          160.10890703038183
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "(163,484) ",
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          593.4019999999995,
          160.10890703038183
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": " ",
        "box": [
          602.63,
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          605.03,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "(145,912) ",
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        "confidence": 1.0
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      {
        "text": "Loans held-for-investment, net",
        "box": [
          44.63,
          164.40172872,
          150.318,
          171.35890703038183
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          523.13,
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          525.53,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,225,896 ",
        "box": [
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          591.0099999999995,
          171.35890703038183
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": " ",
        "box": [
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          605.03,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "1,537,732 ",
        "box": [
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        "from_ocr": false,
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      {
        "text": "Cash and cash equivalents",
        "box": [
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      {
        "text": " ",
        "box": [
          523.13,
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          525.53,
          182.60890703038183
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "58,478 ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": " ",
        "box": [
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          605.03,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "65,958 ",
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        "text": "Restricted cash",
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        "from_ocr": false,
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      {
        "text": " ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "48,994 ",
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": " ",
        "box": [
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        "from_ocr": false,
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      {
        "text": "14,108 ",
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        "from_ocr": false,
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      {
        "text": "Real estate owned, held-for-investment, net",
        "box": [
          44.63,
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          196.6779999999999,
          205.85890703038183
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "29,984 ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "92,039 ",
        "box": [
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        "from_ocr": false,
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      {
        "text": "Real estate owned assets, held-for-sale",
        "box": [
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        "from_ocr": false,
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      {
        "text": " ",
        "box": [
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          525.53,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "62,151 ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          602.63,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "- ",
        "box": [
          660.11,
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        "from_ocr": false,
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        "box": [
          44.63,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
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          525.53,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5,465 ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          602.63,
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          605.03,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7,594 ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Other assets",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "31,786 ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "37,793 ",
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Total Assets  ",
        "box": [
          44.63,
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          89.52001,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          523.13,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,462,754 ",
        "box": [
          550.2259999999999,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,755,224 ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "LIABILITIES AND STOCKHOLDERS' EQUITY",
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          207.45,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Liabilities",
        "box": [
          44.63,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Repurchase facilities",
        "box": [
          44.63,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          523.13,
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          284.60890703038183
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "313,721 ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "439,173 ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Securitized debt obligations",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          523.13,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "521,646 ",
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          295.8589070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "643,528 ",
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Secured credit facility",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
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          525.53,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "71,774 ",
        "box": [
          562.218,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
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          605.03,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "71,774 ",
        "box": [
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          307.1089070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Mortgage loan payable",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
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          525.53,
          318.3589070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "17,594 ",
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          318.3589070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
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          605.03,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "17,546 ",
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loan participations sold",
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          128.42200000000003,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "28,301 ",
        "box": [
          562.218,
          322.65172872,
          591.0099999999996,
          329.6089070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          602.63,
          322.65172872,
          605.03,
          329.6089070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "- ",
        "box": [
          660.11,
          322.65172872,
          666.51,
          329.6089070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Dividends payable",
        "box": [
          44.63,
          333.90172872,
          107.96600000000001,
          340.8589070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          523.13,
          333.90172872,
          525.53,
          340.8589070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6,172 ",
        "box": [
          567.018,
          333.90172872,
          591.0099999999998,
          340.8589070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          602.63,
          333.90172872,
          605.03,
          340.8589070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6,164 ",
        "box": [
          646.518,
          333.90172872,
          670.5099999999998,
          340.8589070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Real estate owned liabilities, held-for-sale",
        "box": [
          44.63,
          345.15172872,
          190.46999999999989,
          352.1089070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          523.13,
          345.15172872,
          525.53,
          352.1089070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7,251 ",
        "box": [
          567.018,
          345.15172872,
          591.0099999999998,
          352.1089070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          602.63,
          345.15172872,
          605.03,
          352.1089070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "- ",
        "box": [
          660.11,
          345.15172872,
          666.51,
          352.1089070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Other liabilities",
        "box": [
          44.63,
          356.40172872,
          97.23800000000003,
          363.3589070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          523.13,
          356.40172872,
          525.53,
          363.3589070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "15,898 ",
        "box": [
          562.218,
          356.40172872,
          591.0099999999996,
          363.3589070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          602.63,
          356.40172872,
          605.03,
          363.3589070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "24,227 ",
        "box": [
          641.718,
          356.40172872,
          670.5099999999996,
          363.3589070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total Liabilities",
        "box": [
          44.63,
          367.65172872,
          97.40600000000003,
          374.6089070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          523.13,
          367.65172872,
          530.3299999999999,
          374.6089070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "982,357 ",
        "box": [
          557.4179999999999,
          367.65172872,
          591.0099999999995,
          374.6089070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          602.63,
          367.65172872,
          609.8299999999999,
          374.6089070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,202,412 ",
        "box": [
          629.7259999999999,
          367.65172872,
          670.5099999999994,
          374.6089070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Stockholders' Equity",
        "box": [
          44.63,
          378.90172872,
          115.94200000000002,
          385.8589070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.00% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, par value $0.01 per share; 11,500,000 shares ",
        "box": [
          44.63,
          391.23171872,
          491.326,
          398.1888970303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "authorized, and 8,229,500 and 8,229,500 shares issued and outstanding, respectively; liquidation preference $25.00 per share",
        "box": [
          53.63,
          399.15172872,
          506.1100000000002,
          406.1089070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          523.13,
          399.15172872,
          525.53,
          406.1089070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "82 ",
        "box": [
          579.01,
          399.15172872,
          591.0099999999999,
          406.1089070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          602.63,
          399.15172872,
          605.03,
          406.1089070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "82 ",
        "box": [
          658.51,
          399.15172872,
          670.5099999999999,
          406.1089070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Common Stock, par value $0.01 per share; 450,000,000 shares authorized, and 48,198,166 shares and 47,563,643 issued and ",
        "box": [
          44.63,
          411.48171872,
          505.59800000000035,
          418.4388970303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "outstanding, respectively",
        "box": [
          53.63,
          419.40172872,
          140.60600000000002,
          426.35890703038183
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          523.13,
          419.40172872,
          525.53,
          426.35890703038183
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "482 ",
        "box": [
          574.2099999999999,
          419.40172872,
          591.0099999999998,
          426.35890703038183
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          602.63,
          419.40172872,
          605.03,
          426.35890703038183
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "476 ",
        "box": [
          653.7099999999999,
          419.40172872,
          670.5099999999998,
          426.35890703038183
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Additional paid-in capital",
        "box": [
          44.63,
          430.65172872,
          129.86999999999998,
          437.60890703038183
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          523.13,
          430.65172872,
          525.53,
          437.60890703038183
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,196,075 ",
        "box": [
          550.226,
          430.65172872,
          591.0099999999995,
          437.60890703038183
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          602.63,
          430.65172872,
          605.03,
          437.60890703038183
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,195,279 ",
        "box": [
          629.726,
          430.65172872,
          670.5099999999995,
          437.60890703038183
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Cumulative earnings",
        "box": [
          44.63,
          441.90172872,
          115.63000000000005,
          448.85890703038183
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          523.13,
          441.90172872,
          525.53,
          448.85890703038183
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(241,543) ",
        "box": [
          555.026,
          441.90172872,
          593.4019999999995,
          448.85890703038183
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          602.63,
          441.90172872,
          605.03,
          448.85890703038183
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(180,708) ",
        "box": [
          634.526,
          441.90172872,
          672.9019999999995,
          448.85890703038183
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Cumulative distributions to stockholders",
        "box": [
          44.63,
          453.15172872,
          185.48599999999993,
          460.10890703038183
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          523.13,
          453.15172872,
          525.53,
          460.10890703038183
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(474,824) ",
        "box": [
          555.026,
          453.15172872,
          593.4019999999995,
          460.10890703038183
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          602.63,
          453.15172872,
          605.03,
          460.10890703038183
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(462,442) ",
        "box": [
          634.526,
          453.15172872,
          672.9019999999995,
          460.10890703038183
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total Granite Point Mortgage Trust Inc. Stockholders' Equity",
        "box": [
          44.63,
          464.40172872,
          253.07799999999992,
          471.35890703038183
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          523.13,
          464.40172872,
          525.53,
          471.35890703038183
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "480,272 ",
        "box": [
          557.418,
          464.40172872,
          591.0099999999996,
          471.35890703038183
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          602.63,
          464.40172872,
          605.03,
          471.35890703038183
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "552,687 ",
        "box": [
          636.918,
          464.40172872,
          670.5099999999996,
          471.35890703038183
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "   ",
        "box": [
          44.63,
          475.65172872,
          51.81399999999999,
          482.6089070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Non-controlling interests",
        "box": [
          51.8,
          475.65172872,
          136.70400000000004,
          482.6089070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          523.13,
          475.65172872,
          525.53,
          482.6089070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "125 ",
        "box": [
          574.2099999999999,
          475.65172872,
          591.0099999999998,
          482.6089070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          602.63,
          475.65172872,
          605.03,
          482.6089070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "125 ",
        "box": [
          653.7099999999999,
          475.65172872,
          670.5099999999998,
          482.6089070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total Equity",
        "box": [
          44.63,
          486.90172872,
          85.08600000000003,
          493.8589070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          523.13,
          486.90172872,
          525.53,
          493.8589070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "480,397 ",
        "box": [
          557.418,
          486.90172872,
          591.0099999999996,
          493.8589070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          602.63,
          486.90172872,
          605.03,
          493.8589070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "552,812 ",
        "box": [
          636.918,
          486.90172872,
          670.5099999999996,
          493.8589070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total Liabilities and Stockholders' Equity",
        "box": [
          44.63,
          498.15172872,
          186.46199999999996,
          505.1089070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          523.13,
          498.15172872,
          530.3299999999999,
          505.1089070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,462,754 ",
        "box": [
          550.2259999999999,
          498.15172872,
          591.0099999999994,
          505.1089070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          602.63,
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          609.8299999999999,
          505.1089070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,755,224 ",
        "box": [
          629.7259999999999,
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          670.5099999999994,
          505.1089070303818
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        "from_ocr": false,
        "confidence": 1.0
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    ]
  },
  {
    "page_no": 22,
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    "cells": [
      {
        "text": "Condensed Consolidated Statements of ",
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          514.838,
          42.98390534874085
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      },
      {
        "text": "Comprehensive (Loss) Income",
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          51.57308584000003,
          388.42,
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        "confidence": 1.0
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      {
        "text": "22",
        "box": [
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      {
        "text": "\u00a0GRANITE POINT MORTGAGE TRUST INC.",
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      {
        "text": "CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)",
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        "confidence": 1.0
      },
      {
        "text": "(in thousands, except share data) (unaudited)",
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          298.3460000000004,
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        "confidence": 1.0
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      {
        "text": "Three Months Ended June 30,",
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Six Months Ended June 30,",
        "box": [
          547.07001,
          106.8296484,
          667.19001,
          115.52612128797722
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2026",
        "box": [
          418.87,
          124.45965840000002,
          442.87,
          133.15613128797725
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2025",
        "box": [
          493.12,
          124.45965840000002,
          517.12,
          133.15613128797725
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2026",
        "box": [
          560.62,
          124.45965840000002,
          584.62,
          133.15613128797725
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2025",
        "box": [
          629.62,
          124.45965840000002,
          653.62,
          133.15613128797725
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Interest income:",
        "box": [
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          136.21172872,
          77.53400000000002,
          143.16890703038183
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Loans held-for-investment",
        "box": [
          20.63,
          145.96172872,
          110.34200000000001,
          152.91890703038183
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          401.63,
          145.96172872,
          408.83,
          152.91890703038183
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "21,413 ",
        "box": [
          433.214,
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          462.00600000000003,
          152.91890703038183
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          476.63,
          145.96172872,
          483.83,
          152.91890703038183
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "33,024 ",
        "box": [
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          145.96172872,
          535.5099999999998,
          152.91890703038183
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          544.13,
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          551.3299999999999,
          152.91890703038183
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "47,034 ",
        "box": [
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          152.91890703038183
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          613.13,
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          620.3299999999999,
          152.91890703038183
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "67,351 ",
        "box": [
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        "confidence": 1.0
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        "confidence": 1.0
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        "from_ocr": false,
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        "from_ocr": false,
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          91.44600000000001,
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          173.47799999999995,
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        "confidence": 1.0
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          462.006,
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        "from_ocr": false,
        "confidence": 1.0
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        "from_ocr": false,
        "confidence": 1.0
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      {
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        "text": "6,707 ",
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          274.41890703038183
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        "from_ocr": false,
        "confidence": 1.0
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        "from_ocr": false,
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          404.03,
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      {
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      {
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      {
        "text": " ",
        "box": [
          544.13,
          279.46172872,
          546.53,
          286.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(46,765) ",
        "box": [
          571.826,
          279.46172872,
          605.4019999999996,
          286.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          613.13,
          279.46172872,
          615.53,
          286.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(14,754) ",
        "box": [
          640.826,
          279.46172872,
          674.4019999999996,
          286.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Gain (loss) on sale of real estate owned",
        "box": [
          20.63,
          289.21172872,
          160.526,
          296.1689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          401.63,
          289.21172872,
          404.03,
          296.1689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "- ",
        "box": [
          451.606,
          289.21172872,
          458.006,
          296.1689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          476.63,
          289.21172872,
          479.03,
          296.1689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "301 ",
        "box": [
          518.7099999999999,
          289.21172872,
          535.5099999999998,
          296.1689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          544.13,
          289.21172872,
          546.53,
          296.1689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "- ",
        "box": [
          592.61,
          289.21172872,
          599.01,
          296.1689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          613.13,
          289.21172872,
          615.53,
          296.1689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "301 ",
        "box": [
          655.2099999999999,
          289.21172872,
          672.0099999999998,
          296.1689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Realized (loss) gain on sale",
        "box": [
          20.63,
          300.46172872,
          116.89400000000006,
          307.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          401.63,
          300.46172872,
          404.03,
          307.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "- ",
        "box": [
          451.606,
          300.46172872,
          458.006,
          307.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          476.63,
          300.46172872,
          479.03,
          307.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "- ",
        "box": [
          525.11,
          300.46172872,
          531.51,
          307.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          544.13,
          300.46172872,
          546.53,
          307.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(18) ",
        "box": [
          588.6179999999999,
          300.46172872,
          605.4019999999997,
          307.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          613.13,
          300.46172872,
          615.53,
          307.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "- ",
        "box": [
          661.61,
          300.46172872,
          668.01,
          307.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total other (loss)",
        "box": [
          20.63,
          310.21172872,
          79.94199999999998,
          317.1689070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          401.63,
          310.21172872,
          404.03,
          317.1689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(43,494) ",
        "box": [
          430.83,
          310.21172872,
          464.406,
          317.1689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          476.63,
          310.21172872,
          479.03,
          317.1689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(6,930) ",
        "box": [
          509.126,
          310.21172872,
          537.9019999999997,
          317.1689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          544.13,
          310.21172872,
          546.53,
          317.1689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(40,076) ",
        "box": [
          571.826,
          310.21172872,
          605.4019999999996,
          317.1689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          613.13,
          310.21172872,
          615.53,
          317.1689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(7,606) ",
        "box": [
          645.626,
          310.21172872,
          674.4019999999996,
          317.1689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Expenses:",
        "box": [
          20.63,
          320.71172872,
          56.62200000000001,
          327.6689070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Compensation and benefits",
        "box": [
          20.63,
          330.46172872,
          117.062,
          337.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          401.63,
          330.46172872,
          404.03,
          337.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4,315 ",
        "box": [
          438.01399999999995,
          330.46172872,
          462.006,
          337.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          476.63,
          330.46172872,
          479.03,
          337.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5,718 ",
        "box": [
          511.518,
          330.46172872,
          535.5099999999998,
          337.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          544.13,
          330.46172872,
          546.53,
          337.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8,760 ",
        "box": [
          579.018,
          330.46172872,
          603.0099999999998,
          337.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          613.13,
          330.46172872,
          615.53,
          337.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "11,489 ",
        "box": [
          643.218,
          330.46172872,
          672.0099999999996,
          337.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Servicing expenses",
        "box": [
          20.63,
          340.96172872,
          87.78999999999996,
          347.9189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          401.63,
          340.96172872,
          404.03,
          347.9189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "756 ",
        "box": [
          445.20599999999996,
          340.96172872,
          462.006,
          347.9189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          476.63,
          340.96172872,
          479.03,
          347.9189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "817 ",
        "box": [
          518.7099999999999,
          340.96172872,
          535.5099999999998,
          347.9189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          544.13,
          340.96172872,
          546.53,
          347.9189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,499 ",
        "box": [
          579.018,
          340.96172872,
          603.0099999999998,
          347.9189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          613.13,
          340.96172872,
          615.53,
          347.9189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,848 ",
        "box": [
          648.018,
          340.96172872,
          672.0099999999998,
          347.9189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Impairment loss on real estate owned",
        "box": [
          20.63,
          350.71172872,
          153.166,
          357.6689070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          401.63,
          350.71172872,
          404.03,
          357.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6,079 ",
        "box": [
          438.01399999999995,
          350.71172872,
          462.006,
          357.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          476.63,
          350.71172872,
          479.03,
          357.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "- ",
        "box": [
          525.11,
          350.71172872,
          531.51,
          357.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          544.13,
          350.71172872,
          546.53,
          357.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6,079 ",
        "box": [
          579.018,
          350.71172872,
          603.0099999999998,
          357.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          613.13,
          350.71172872,
          615.53,
          357.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "- ",
        "box": [
          661.61,
          350.71172872,
          668.01,
          357.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Expenses from real estate owned operations",
        "box": [
          20.63,
          360.46172872,
          176.99799999999996,
          367.4189070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          401.63,
          360.46172872,
          404.03,
          367.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5,273 ",
        "box": [
          438.01399999999995,
          360.46172872,
          462.006,
          367.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          476.63,
          360.46172872,
          479.03,
          367.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5,227 ",
        "box": [
          511.518,
          360.46172872,
          535.5099999999998,
          367.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          544.13,
          360.46172872,
          546.53,
          367.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "11,033 ",
        "box": [
          574.218,
          360.46172872,
          603.0099999999996,
          367.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          613.13,
          360.46172872,
          615.53,
          367.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "9,731 ",
        "box": [
          648.018,
          360.46172872,
          672.0099999999998,
          367.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Other operating expenses",
        "box": [
          20.63,
          370.96172872,
          110.49399999999997,
          377.9189070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          401.63,
          370.96172872,
          404.03,
          377.9189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3,183 ",
        "box": [
          438.01399999999995,
          370.96172872,
          462.006,
          377.9189070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          476.63,
          370.96172872,
          479.03,
          377.9189070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2,717 ",
        "box": [
          511.518,
          370.96172872,
          535.5099999999998,
          377.9189070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          544.13,
          370.96172872,
          546.53,
          377.9189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6,098 ",
        "box": [
          579.018,
          370.96172872,
          603.0099999999998,
          377.9189070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          613.13,
          370.96172872,
          615.53,
          377.9189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5,720 ",
        "box": [
          648.018,
          370.96172872,
          672.0099999999998,
          377.9189070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total expenses",
        "box": [
          20.63,
          379.96172872,
          73.566,
          386.9189070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          401.63,
          379.96172872,
          404.03,
          386.9189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "19,606 ",
        "box": [
          433.214,
          379.96172872,
          462.00600000000003,
          386.9189070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          476.63,
          379.96172872,
          479.03,
          386.9189070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "14,479 ",
        "box": [
          506.71799999999996,
          379.96172872,
          535.5099999999998,
          386.9189070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          544.13,
          379.96172872,
          546.53,
          386.9189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "33,469 ",
        "box": [
          574.218,
          379.96172872,
          603.0099999999996,
          386.9189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          613.13,
          379.96172872,
          615.53,
          386.9189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "28,788 ",
        "box": [
          643.218,
          379.96172872,
          672.0099999999996,
          386.9189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " (Loss) income before income taxes",
        "box": [
          21.63,
          389.71172872,
          146.63000000000002,
          396.6689070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          401.63,
          389.71172872,
          404.03,
          396.6689070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(58,318) ",
        "box": [
          430.83,
          389.71172872,
          464.406,
          396.6689070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          476.63,
          389.71172872,
          479.03,
          396.6689070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(13,364) ",
        "box": [
          504.32599999999996,
          389.71172872,
          537.9019999999997,
          396.6689070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          544.13,
          389.71172872,
          546.53,
          396.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(60,745) ",
        "box": [
          571.826,
          389.71172872,
          605.4019999999996,
          396.6689070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          613.13,
          389.71172872,
          615.53,
          396.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(20,309) ",
        "box": [
          640.826,
          389.71172872,
          674.4019999999996,
          396.6689070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Provision for (benefit from) income taxes",
        "box": [
          20.63,
          400.21172872,
          162.23000000000002,
          407.1689070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          401.63,
          400.21172872,
          404.03,
          407.1689070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "91 ",
        "box": [
          450.006,
          400.21172872,
          462.006,
          407.1689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          476.63,
          400.21172872,
          479.03,
          407.1689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(1) ",
        "box": [
          525.918,
          400.21172872,
          537.9019999999998,
          407.1689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          544.13,
          400.21172872,
          546.53,
          407.1689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "90 ",
        "box": [
          591.01,
          400.21172872,
          603.0099999999999,
          407.1689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          613.13,
          400.21172872,
          615.53,
          407.1689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "69 ",
        "box": [
          660.01,
          400.21172872,
          672.0099999999999,
          407.1689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net (loss) income",
        "box": [
          21.63,
          409.96172872,
          83.174,
          416.9189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          401.63,
          409.96172872,
          404.03,
          416.9189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(58,409) ",
        "box": [
          430.83,
          409.96172872,
          464.406,
          416.9189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          476.63,
          409.96172872,
          479.03,
          416.9189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(13,363) ",
        "box": [
          504.32599999999996,
          409.96172872,
          537.9019999999997,
          416.9189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          544.13,
          409.96172872,
          546.53,
          416.9189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(60,835) ",
        "box": [
          571.826,
          409.96172872,
          605.4019999999996,
          416.9189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          613.13,
          409.96172872,
          615.53,
          416.9189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(20,378) ",
        "box": [
          640.826,
          409.96172872,
          674.4019999999996,
          416.9189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Dividends on preferred stock",
        "box": [
          21.63,
          419.71172872,
          122.03000000000004,
          426.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          401.63,
          419.71172872,
          404.03,
          426.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3,600 ",
        "box": [
          438.01399999999995,
          419.71172872,
          462.006,
          426.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          476.63,
          419.71172872,
          479.03,
          426.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3,601 ",
        "box": [
          511.518,
          419.71172872,
          535.5099999999998,
          426.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          544.13,
          419.71172872,
          546.53,
          426.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7,201 ",
        "box": [
          579.018,
          419.71172872,
          603.0099999999998,
          426.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
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          419.71172872,
          615.53,
          426.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7,201 ",
        "box": [
          648.018,
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          672.0099999999998,
          426.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net (loss) income attributable to common stockholders",
        "box": [
          21.63,
          430.21172872,
          214.2539999999999,
          437.1689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          401.63,
          430.21172872,
          408.83,
          437.1689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(62,009) ",
        "box": [
          430.83,
          430.21172872,
          464.406,
          437.1689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          476.63,
          430.21172872,
          483.83,
          437.1689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(16,964) ",
        "box": [
          504.32599999999996,
          430.21172872,
          537.9019999999997,
          437.1689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          544.13,
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          551.3299999999999,
          437.1689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(68,036) ",
        "box": [
          571.8259999999999,
          430.21172872,
          605.4019999999995,
          437.1689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          613.13,
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          620.3299999999999,
          437.1689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(27,579) ",
        "box": [
          640.8259999999999,
          430.21172872,
          674.4019999999995,
          437.1689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Basic (loss) earnings per weighted average common share",
        "box": [
          21.63,
          439.96172872,
          225.95799999999988,
          446.9189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          401.63,
          439.96172872,
          408.83,
          446.9189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(1.29) ",
        "box": [
          440.43,
          439.96172872,
          464.406,
          446.9189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          476.63,
          439.96172872,
          483.83,
          446.9189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.35) ",
        "box": [
          513.9259999999999,
          439.96172872,
          537.9019999999996,
          446.9189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          544.13,
          439.96172872,
          551.3299999999999,
          446.9189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(1.42) ",
        "box": [
          581.4259999999999,
          439.96172872,
          605.4019999999996,
          446.9189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          613.13,
          439.96172872,
          620.3299999999999,
          446.9189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.57) ",
        "box": [
          650.4259999999999,
          439.96172872,
          674.4019999999996,
          446.9189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Diluted (loss) earnings per weighted average common share",
        "box": [
          21.63,
          449.71172872,
          231.3979999999999,
          456.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          401.63,
          449.71172872,
          408.83,
          456.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(1.29) ",
        "box": [
          440.43,
          449.71172872,
          464.406,
          456.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          476.63,
          449.71172872,
          483.83,
          456.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.35) ",
        "box": [
          513.9259999999999,
          449.71172872,
          537.9019999999996,
          456.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          544.13,
          449.71172872,
          551.3299999999999,
          456.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(1.42) ",
        "box": [
          581.4259999999999,
          449.71172872,
          605.4019999999996,
          456.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          613.13,
          449.71172872,
          620.3299999999999,
          456.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.57) ",
        "box": [
          650.4259999999999,
          449.71172872,
          674.4019999999996,
          456.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Dividends declared per common share",
        "box": [
          20.63,
          459.46172872,
          154.93400000000003,
          466.4189070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
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          459.46172872,
          408.83,
          466.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.05 ",
        "box": [
          442.81399999999996,
          459.46172872,
          462.006,
          466.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          476.63,
          459.46172872,
          483.83,
          466.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.05 ",
        "box": [
          516.318,
          459.46172872,
          535.5099999999998,
          466.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          544.13,
          459.46172872,
          551.3299999999999,
          466.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.10 ",
        "box": [
          583.818,
          459.46172872,
          603.0099999999998,
          466.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          613.13,
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          620.3299999999999,
          466.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.10 ",
        "box": [
          652.818,
          459.46172872,
          672.0099999999998,
          466.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " Weighted average number of shares of common stock outstanding:",
        "box": [
          21.63,
          469.21172872,
          258.7099999999998,
          476.1689070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Basic",
        "box": [
          26.63,
          479.71172872,
          45.83,
          486.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          401.63,
          479.71172872,
          404.03,
          486.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "47,999,208 ",
        "box": [
          416.42999999999995,
          479.71172872,
          462.014,
          486.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          476.63,
          479.71172872,
          479.03,
          486.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "48,030,130 ",
        "box": [
          489.926,
          479.71172872,
          535.5099999999998,
          486.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          544.13,
          479.71172872,
          546.53,
          486.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "47,837,359 ",
        "box": [
          557.4259999999999,
          479.71172872,
          603.0099999999994,
          486.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          613.13,
          479.71172872,
          615.53,
          486.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "48,347,634 ",
        "box": [
          626.4259999999999,
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          672.0099999999994,
          486.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Diluted",
        "box": [
          26.63,
          489.46172872,
          51.262,
          496.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          401.63,
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          404.03,
          496.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "47,999,208 ",
        "box": [
          416.42999999999995,
          489.46172872,
          462.014,
          496.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          476.63,
          489.46172872,
          479.03,
          496.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "48,030,130 ",
        "box": [
          489.926,
          489.46172872,
          535.5099999999998,
          496.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          544.13,
          489.46172872,
          546.53,
          496.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "47,837,359 ",
        "box": [
          557.4259999999999,
          489.46172872,
          603.0099999999994,
          496.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          613.13,
          489.46172872,
          615.53,
          496.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "48,347,634 ",
        "box": [
          626.4259999999999,
          489.46172872,
          672.0099999999994,
          496.4189070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net (loss) income attributable to common stockholders",
        "box": [
          20.63,
          499.21172872,
          213.2539999999999,
          506.1689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          401.63,
          499.21172872,
          408.83,
          506.1689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(62,009) ",
        "box": [
          430.83,
          499.21172872,
          464.406,
          506.1689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          476.63,
          499.21172872,
          483.83,
          506.1689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(16,964) ",
        "box": [
          504.32599999999996,
          499.21172872,
          537.9019999999997,
          506.1689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          544.13,
          499.21172872,
          551.3299999999999,
          506.1689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(68,036) ",
        "box": [
          571.8259999999999,
          499.21172872,
          605.4019999999995,
          506.1689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          613.13,
          499.21172872,
          620.3299999999999,
          506.1689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(27,579) ",
        "box": [
          640.8259999999999,
          499.21172872,
          674.4019999999995,
          506.1689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Comprehensive (loss) income",
        "box": [
          20.63,
          509.71172872,
          123.91800000000009,
          516.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          401.63,
          509.71172872,
          408.83,
          516.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(62,009) ",
        "box": [
          430.83,
          509.71172872,
          464.406,
          516.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          476.63,
          509.71172872,
          483.83,
          516.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(16,964) ",
        "box": [
          504.32599999999996,
          509.71172872,
          537.9019999999997,
          516.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          544.13,
          509.71172872,
          551.3299999999999,
          516.6689070303818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(68,036) ",
        "box": [
          571.8259999999999,
          509.71172872,
          605.4019999999995,
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        "text": "Quarterly Per Share Calculations",
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        "text": "0.3  $ ",
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        "confidence": 1.0
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      {
        "text": "- ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Gain (Loss) on Sale of Real Estate Owned",
        "box": [
          20.62,
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          221.91999999999996,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$ ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "0.3  $ ",
        "box": [
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          450.52000000000004,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "- ",
        "box": [
          488.06300000000005,
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          496.86300000000006,
          275.95973341677495
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          506.62,
          266.39361324,
          516.52,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "- ",
        "box": [
          554.8109999999999,
          266.39361324,
          563.6109999999999,
          275.95973341677495
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          573.37,
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          583.27,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "- ",
        "box": [
          620.813,
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          629.6129999999999,
          275.95973341677495
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          639.37,
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          649.27,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "- ",
        "box": [
          687.5609999999999,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Accumulated Depreciation and Amortization on REO Sale",
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          20.62,
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          293.2,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          374.62,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "(7.6) $ ",
        "box": [
          413.285,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "- ",
        "box": [
          488.06300000000005,
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          496.86300000000006,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          506.62,
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          516.52,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "- ",
        "box": [
          554.8109999999999,
          279.89361324,
          563.6109999999999,
          289.45973341677495
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          573.37,
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          583.27,
          289.45973341677495
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "- ",
        "box": [
          620.813,
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          629.6129999999999,
          289.45973341677495
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          639.37,
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          649.27,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "- ",
        "box": [
          687.5609999999999,
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          696.3609999999999,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Discount on Participations Sold",
        "box": [
          20.62,
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          171.31999999999994,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          374.62,
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          384.52000000000004,
          302.95973341677495
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "- ",
        "box": [
          422.06300000000005,
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          430.86300000000006,
          302.95973341677495
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          440.62,
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          450.52000000000004,
          302.95973341677495
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "- ",
        "box": [
          488.06300000000005,
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          496.86300000000006,
          302.95973341677495
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          506.62,
          293.39361324000004,
          516.52,
          302.95973341677495
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "- ",
        "box": [
          554.8109999999999,
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          563.6109999999999,
          302.95973341677495
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          573.37,
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          583.27,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "- ",
        "box": [
          620.813,
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          629.6129999999999,
          302.95973341677495
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$ ",
        "box": [
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        "confidence": 1.0
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      {
        "text": "(3.1) ",
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Distributable Earnings (Loss) *",
        "box": [
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          185.79,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          374.62,
          306.59362324,
          384.52000000000004,
          316.159743416775
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "(45.3) $ ",
        "box": [
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          450.52000000000004,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "(18.9) $ ",
        "box": [
          471.80500000000006,
          306.59362324,
          516.52,
          316.159743416775
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "(2.7) $ ",
        "box": [
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          583.27,
          316.159743416775
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        "confidence": 1.0
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      {
        "text": "(3.0) $ ",
        "box": [
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      {
        "text": "(37.7) ",
        "box": [
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        "confidence": 1.0
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      {
        "text": "Basic Wtd. Avg. Common Shares",
        "box": [
          20.62,
          319.64361324000004,
          178.35999999999999,
          329.20973341677495
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        "confidence": 1.0
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      {
        "text": "  48,030,130    47,394,519    47,406,719    47,673,711    47,999,208 ",
        "box": [
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          702.07,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Distributable Earnings (Loss) Before Realized Gains and Losses *  ",
        "box": [
          38.62,
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          358.15999,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "per Basic Wtd. Avg. Common Share",
        "box": [
          38.62,
          345.44360324,
          214.62000000000003,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$ ",
        "box": [
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          384.52000000000004,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "(0.04) $ ",
        "box": [
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          450.52000000000004,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "0.02  $ ",
        "box": [
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          516.52,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "(0.06) $ ",
        "box": [
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          583.27,
          348.399733416775
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "(0.07) $ ",
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          649.27,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "(0.10) ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable Earnings (Loss) *  per Basic Wtd. Avg. Common Share",
        "box": [
          38.62,
          357.96362324,
          365.0899900000001,
          367.529743416775
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          374.62,
          357.96362324,
          384.52000000000004,
          367.529743416775
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.94) $ ",
        "box": [
          405.80500000000006,
          357.96362324,
          450.52000000000004,
          367.529743416775
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.40) $ ",
        "box": [
          471.80500000000006,
          357.96362324,
          516.52,
          367.529743416775
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.06) $ ",
        "box": [
          538.553,
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          583.27,
          367.529743416775
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "(0.06) $ ",
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          649.27,
          367.529743416775
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        "confidence": 1.0
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      {
        "text": "(0.79) ",
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        "confidence": 1.0
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      {
        "text": "* Distributable Earnings (Loss) Before Realized Gains and Losses and Distributable Earnings (Loss) are non-GAAP measures. See definitions in this appendix",
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          18.0,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Due to rounding, figures may not result in the totals presented",
        "box": [
          18.0,
          508.73773388,
          209.2049999999999,
          514.8252649015841
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": " GAAP BOOK VALUE PER SHARE",
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          449.4199900000008,
          391.4033555455727
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "($ in millions, except per share data) (unaudited)",
        "box": [
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          400.68172872,
          191.35799999999995,
          407.6389070303818
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "06/30/2025 09/30/2025 12/31/2025 03/31/2026 06/30/2026",
        "box": [
          359.0,
          398.04361324,
          702.2400000000002,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Total Equity",
        "box": [
          20.63,
          412.18362324,
          79.37,
          421.74974341677495
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        "from_ocr": false,
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      },
      {
        "text": "$ ",
        "box": [
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          368.78000000000003,
          421.74974341677495
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "584.3  $ ",
        "box": [
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          412.18362324,
          438.53000000000003,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "582.1  $ ",
        "box": [
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          508.28000000000003,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "552.8  $ ",
        "box": [
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          578.03,
          421.74974341677495
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "543.9  $ ",
        "box": [
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      {
        "text": "480.4 ",
        "box": [
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        "confidence": 1.0
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      {
        "text": "Series A Preferred Stock (Liquidation Preference $25.00 per Share)",
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$ ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "205.7  $ ",
        "box": [
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        "confidence": 1.0
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      {
        "text": "205.7  $ ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "205.7  $ ",
        "box": [
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          578.03,
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      {
        "text": "205.7  $ ",
        "box": [
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      {
        "text": "205.7 ",
        "box": [
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        "from_ocr": false,
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      {
        "text": "Non-controlling Interest",
        "box": [
          26.63,
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          137.95,
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        "confidence": 1.0
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      {
        "text": "$ ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "0.1  $ ",
        "box": [
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          438.53000000000003,
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        "confidence": 1.0
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      {
        "text": "0.1  $ ",
        "box": [
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        "confidence": 1.0
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      {
        "text": "0.1  $ ",
        "box": [
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      {
        "text": "0.1  $ ",
        "box": [
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      {
        "text": "0.1 ",
        "box": [
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          703.3849999999999,
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        "confidence": 1.0
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      {
        "text": "Common Stockholders' Equity",
        "box": [
          26.63,
          454.86361324,
          170.73,
          464.429733416775
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$ ",
        "box": [
          358.88,
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          368.78000000000003,
          464.429733416775
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "378.5  $ ",
        "box": [
          391.38500000000005,
          454.86361324,
          438.53000000000003,
          464.429733416775
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "376.3  $ ",
        "box": [
          461.13500000000005,
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          508.28000000000003,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "347.0  $ ",
        "box": [
          530.885,
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          578.03,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "338.0  $ ",
        "box": [
          600.635,
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          647.78,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "274.6 ",
        "box": [
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          703.385,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Common Shares Outstanding",
        "box": [
          26.63,
          469.11361324,
          167.64999999999995,
          478.679733416775
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "47,394,519",
        "box": [
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          423.3899900000002,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "47,394,519",
        "box": [
          433.73999,
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          493.1399900000002,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "47,563,643",
        "box": [
          503.48999,
          469.11361324,
          562.88999,
          478.679733416775
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "47,919,625",
        "box": [
          573.23999,
          469.11361324,
          632.6399900000001,
          478.679733416775
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "48,198,166",
        "box": [
          642.98999,
          469.11361324,
          702.3899900000001,
          478.679733416775
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Book Value per Common Share Outstanding",
        "box": [
          20.63,
          483.43362324,
          236.45,
          492.99974341677495
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          358.88,
          483.43362324,
          368.78000000000003,
          492.99974341677495
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.99  $ ",
        "box": [
          397.985,
          483.43362324,
          438.53000000000003,
          492.99974341677495
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.94  $ ",
        "box": [
          467.735,
          483.43362324,
          508.28000000000003,
          492.99974341677495
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.29  $ ",
        "box": [
          537.485,
          483.43362324,
          578.03,
          492.99974341677495
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.05  $ ",
        "box": [
          607.235,
          483.43362324,
          647.78,
          492.99974341677495
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5.70 ",
        "box": [
          676.985,
          483.43362324,
          703.385,
          492.99974341677495
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "RECONCILIATION OF GAAP TO NON-GAAP MEASURES",
        "box": [
          214.57001,
          90.11758808000002,
          506.146010000001,
          100.55335554557269
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 24,
    "width": 720.0,
    "height": 540.0,
    "cells": [
      {
        "text": "($ in thousands)",
        "box": [
          20.62,
          179.03570356,
          85.204,
          186.86252915917953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6/30/2025",
        "box": [
          169.53999,
          177.27362324,
          227.17998999999995,
          186.83974341677498
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "9/30/2025",
        "box": [
          240.78999,
          177.27362324,
          298.42999000000015,
          186.83974341677498
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "12/31/2025",
        "box": [
          308.73999,
          177.27362324,
          372.9799900000002,
          186.83974341677498
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3/31/2026",
        "box": [
          383.29001,
          177.27362324,
          440.9300100000002,
          186.83974341677498
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6/30/2026",
        "box": [
          454.54001,
          177.27362324,
          512.1800100000002,
          186.83974341677498
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "ASSETS",
        "box": [
          73.7,
          195.33007800000001,
          107.02999999999997,
          203.7851542438944
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loans Held-for-Investment",
        "box": [
          20.62,
          224.02965840000002,
          134.15,
          232.72613128797724
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          165.37,
          224.02965840000002,
          174.37,
          232.72613128797724
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,823,279  $ ",
        "box": [
          182.20000000000002,
          224.02965840000002,
          245.62,
          232.72613128797724
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,713,583  $ ",
        "box": [
          253.45000000000002,
          224.02965840000002,
          316.87,
          232.72613128797724
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,683,644  $ ",
        "box": [
          324.7,
          224.02965840000002,
          388.12,
          232.72613128797724
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,510,097  $ ",
        "box": [
          395.95,
          224.02965840000002,
          459.37,
          232.72613128797724
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,389,380 ",
        "box": [
          467.2,
          224.02965840000002,
          518.1800000000001,
          232.72613128797724
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Allowance for credit losses",
        "box": [
          20.62,
          260.7796584,
          137.73,
          269.47613128797724
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          165.37,
          260.7796584,
          168.37,
          269.47613128797724
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(151,968)  ",
        "box": [
          188.20000000000002,
          260.7796584,
          239.62,
          269.47613128797724
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(130,908)  ",
        "box": [
          259.45,
          260.7796584,
          310.87,
          269.47613128797724
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(145,912)  ",
        "box": [
          330.7,
          260.7796584,
          382.12,
          269.47613128797724
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(147,298)  ",
        "box": [
          401.95,
          260.7796584,
          453.37,
          269.47613128797724
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(163,484) ",
        "box": [
          473.2,
          260.7796584,
          521.1700000000001,
          269.47613128797724
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Carrying Value",
        "box": [
          20.62,
          289.6596384,
          82.78000000000003,
          298.3561112879772
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          165.37,
          289.6596384,
          174.37,
          298.3561112879772
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,671,311  $ ",
        "box": [
          182.20000000000002,
          289.6596384,
          245.62,
          298.3561112879772
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,582,675  $ ",
        "box": [
          253.45000000000002,
          289.6596384,
          316.87,
          298.3561112879772
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,537,732  $ ",
        "box": [
          324.7,
          289.6596384,
          388.12,
          298.3561112879772
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,362,799  $ ",
        "box": [
          395.95,
          289.6596384,
          459.37,
          298.3561112879772
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,225,896 ",
        "box": [
          467.2,
          289.6596384,
          518.1800000000001,
          298.3561112879772
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "LIABILITIES",
        "box": [
          66.05,
          310.83007799999996,
          114.68,
          319.2851542438944
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Other liabilities impact *",
        "box": [
          20.62,
          338.66150146,
          122.64001,
          348.22613128797724
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          165.37,
          339.5296584,
          174.37,
          348.22613128797724
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3,104  $ ",
        "box": [
          203.19,
          339.5296584,
          245.62,
          348.22613128797724
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2,735  $ ",
        "box": [
          274.44,
          339.5296584,
          316.87,
          348.22613128797724
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2,517  $ ",
        "box": [
          345.69,
          339.5296584,
          388.12,
          348.22613128797724
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,215  $ ",
        "box": [
          416.94,
          339.5296584,
          459.37,
          348.22613128797724
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2,350 ",
        "box": [
          488.19,
          339.5296584,
          518.1800000000001,
          348.22613128797724
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total allowance for credit losses",
        "box": [
          20.62,
          379.08007799999996,
          159.15999999999997,
          387.5351542438944
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          165.37,
          379.08007799999996,
          174.13000000000002,
          387.5351542438944
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(155,072) $ ",
        "box": [
          189.49,
          379.08007799999996,
          245.38000000000002,
          387.5351542438944
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(133,643) $ ",
        "box": [
          260.74,
          379.08007799999996,
          316.63,
          387.5351542438944
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(148,429) $ ",
        "box": [
          331.99,
          379.08007799999996,
          387.88,
          387.5351542438944
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(148,513) $ ",
        "box": [
          403.24,
          379.08007799999996,
          459.13,
          387.5351542438944
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(165,834) ",
        "box": [
          474.49,
          379.08007799999996,
          521.14,
          387.5351542438944
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Financial Statements Impact of CECL Reserves",
        "box": [
          25.2,
          51.57308584000003,
          592.8319999999999,
          74.18391534874087
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "24",
        "box": [
          676.73999,
          494.230068,
          688.4499900000001,
          502.6851442438944
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u25aa",
        "box": [
          19.8,
          98.196865,
          23.316000000000003,
          109.68124
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total  allowance  for  credit  losses  of  $(165.8)  million,  of  which  $2.4  million  is  related  to  future  funding  obligations  and ",
        "box": [
          34.2,
          98.16756808000002,
          698.3960000000008,
          108.60333554557269
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "recorded in other liabilities",
        "box": [
          34.2,
          112.56756808,
          174.11999999999998,
          123.00333554557267
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u25aa",
        "box": [
          19.8,
          132.99688500000002,
          23.316000000000003,
          144.48126000000002
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loans reported on the balance sheet are net of the allowance for credit losses",
        "box": [
          34.2,
          132.96758808000004,
          447.0000000000002,
          143.4033555455727
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "($ in thousands)",
        "box": [
          526.87,
          169.28570356,
          591.4540000000001,
          177.11252915917953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q2 2026",
        "box": [
          652.84003,
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          696.40003,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Change in allowance for ",
        "box": [
          526.87,
          183.02965840000002,
          634.2099999999998,
          191.72613128797724
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "credit losses:",
        "box": [
          526.87,
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          586.0300000000001,
          201.72613128797724
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loans held-for-investments",
        "box": [
          526.87,
          208.27965840000002,
          644.2000000000002,
          216.97613128797724
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$  (16,186) ",
        "box": [
          649.87,
          208.27965840000002,
          704.24,
          216.97613128797724
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Other liabilities",
        "box": [
          526.87,
          222.52965840000002,
          592.63,
          231.22613128797724
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "*",
        "box": [
          592.63,
          221.66150145999995,
          596.53,
          227.31420883718516
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          649.87,
          222.52965840000002,
          658.87,
          231.22613128797724
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(1,135) ",
        "box": [
          668.27,
          222.52965840000002,
          704.24,
          231.22613128797724
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total change in allowance ",
        "box": [
          526.87,
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          642.6099999999997,
          246.47613128797724
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "for credit losses",
        "box": [
          526.87,
          247.77965840000002,
          597.6000000000001,
          256.47613128797724
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$  (17,321) ",
        "box": [
          649.87,
          242.77965840000002,
          704.24,
          251.47613128797724
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "* Represents estimated allowance for credit losses on unfunded loan commitments",
        "box": [
          17.99,
          493.13775388,
          275.11399999999986,
          499.2252849015841
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 25,
    "width": 720.0,
    "height": 540.0,
    "cells": [
      {
        "text": "\u25aa",
        "box": [
          14.73,
          95.78686499999998,
          18.246000000000002,
          107.27123999999998
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Beginning with our Annual Report on Form 10-K for the year ended December\u00a031, 2025, and for all subsequent reporting periods ending on ",
        "box": [
          29.13,
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        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "or after December\u00a031, 2025, we have elected to present Distributable Earnings (Loss), a non-GAAP measure, as a supplemental method of ",
        "box": [
          29.13,
          112.64361323999998,
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          122.20973341677495
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "evaluating our operating performance. In order to maintain our status as a REIT, we are required to distribute at least 90% of our taxable ",
        "box": [
          29.13,
          128.84362324,
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          138.40974341677497
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "income to stockholders, subject to certain distribution requirements. Distributable Earnings (Loss) is intended to over time serve as a ",
        "box": [
          29.13,
          145.04361323999996,
          702.99,
          154.60973341677493
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "general, though imperfect, proxy for our taxable income. As such, Distributable Earnings (Loss) is considered a key indicator of our ability ",
        "box": [
          29.13,
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          702.9900000000006,
          170.80971341677497
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "to generate sufficient income to pay dividends on our common stock, which is the primary focus of income-oriented investors who comprise ",
        "box": [
          29.13,
          177.44360323999996,
          703.2100000000004,
          187.00972341677493
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "a meaningful segment of our stockholder base. We believe providing Distributable Earnings (Loss) on a supplemental basis to our net ",
        "box": [
          29.13,
          193.64361323999998,
          702.8800000000001,
          203.20973341677495
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "income (loss) and cash flow from operating activities, as determined in accordance with GAAP, is helpful to stockholders in assessing the ",
        "box": [
          29.13,
          209.84362324,
          702.9900000000005,
          219.40974341677497
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "overall operating performance of our business.",
        "box": [
          29.13,
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          253.75000000000003,
          235.60973341677493
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u25aa",
        "box": [
          14.73,
          244.586855,
          18.246000000000002,
          256.07123
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "For  reporting  purposes,  we  define  Distributable  Earnings  (Loss)  as  net  income  (loss)  attributable  to  our  stockholders,  computed  in ",
        "box": [
          29.13,
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        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "accordance with GAAP, excluding: (i) non-cash equity compensation expenses; (ii) depreciation and amortization; (iii) any unrealized gains ",
        "box": [
          29.13,
          261.44360323999996,
          703.034,
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        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(losses) or other similar non-cash items that are included in net income (loss) for the applicable reporting period (regardless of whether ",
        "box": [
          29.13,
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          703.2100000000005,
          287.20973341677495
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "such items are included in other comprehensive income or in net income (loss) for such period); and (iv) certain non-cash items and one-",
        "box": [
          29.13,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "time expenses. Distributable Earnings (Loss) may also be adjusted from time to time for reporting purposes to exclude one-time events ",
        "box": [
          29.13,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "pursuant to changes in GAAP and certain other material non-cash income or expense items approved by a majority of our independent ",
        "box": [
          29.13,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "directors.  The  exclusion  of  depreciation  and  amortization  from  the  calculation  of  Distributable  Earnings  (Loss)  only  applies  to  debt ",
        "box": [
          29.13,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "investments related to real estate to the extent we foreclose upon the property or properties underlying such debt investments.",
        "box": [
          29.13,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u25aa",
        "box": [
          14.73,
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          18.246000000000002,
          388.67125999999996
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "While Distributable Earnings (Loss) excludes the impact of the unrealized non-cash current provision for credit losses, we expect to only ",
        "box": [
          29.13,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "recognize such potential credit losses in Distributable Earnings (Loss) if and when such amounts are deemed non-recoverable. This is ",
        "box": [
          29.13,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "generally at the time a loan is repaid, or in the case of foreclosure, when the underlying asset is sold, but non-recoverability may also be ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "concluded if, in our determination, it is nearly certain that all amounts due will not be collected. The realized loss amount reflected in ",
        "box": [
          29.13,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable Earnings (Loss) will equal the difference between the cash received, or expected to be received, and the carrying value of the ",
        "box": [
          29.13,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "asset, and is reflective of our economic experience as it relates to the ultimate realization of the loan.",
        "box": [
          29.13,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable Earnings (Loss)",
        "box": [
          25.2,
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          374.45799999999986,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "25",
        "box": [
          676.73999,
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        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 26,
    "width": 720.0,
    "height": 540.0,
    "cells": [
      {
        "text": "\u25aa",
        "box": [
          14.85,
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          18.073,
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        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "During the quarter ended June\u00a030, 2026, we recorded a provision for credit losses of $(47.0) million, which has been excluded from ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable Earnings (Loss), consistent with other unrealized gains (losses) and other non-cash items pursuant to our existing policy for ",
        "box": [
          29.25,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "reporting  Distributable  Earnings  (Loss)  referenced  on  the  previous  slide.  During  the  quarter  ended  June\u00a0 30,  2026,  we  recorded  $2.0 ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "million,  in  depreciation  and  amortization  on  REO  and  related  intangibles,  which  has  been  excluded  from  Distributable  Earnings  (Loss) ",
        "box": [
          29.25,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "consistent with other unrealized gains (losses) and other non-cash items pursuant to our existing policy for reporting Distributable Earnings ",
        "box": [
          29.25,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(Loss) referenced above.",
        "box": [
          29.25,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u25aa",
        "box": [
          14.85,
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          18.366,
          207.46123999999998
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable  Earnings  (Loss)  does  not  represent  Net  (loss)  income  attributable  to  common  stockholders  or  cash  flow  from  operating ",
        "box": [
          29.25,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "activities and should not be considered as an alternative to GAAP Net (loss) income attributable to common stockholders, or an indication ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "of our GAAP cash flows from operations, a measure of our liquidity, or an indication of funds available for our cash needs. In addition, our ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "methodology for calculating Distributable Earnings (Loss) may differ from the methodologies employed by other companies to calculate the ",
        "box": [
          29.25,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "same or similar supplemental performance measures, and, accordingly, our reported Distributable Earnings (Loss) may not be comparable ",
        "box": [
          29.25,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "to the Distributable Earnings (Loss) reported by other companies.",
        "box": [
          29.25,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u25aa",
        "box": [
          14.85,
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          18.366,
          307.66125
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "We  believe  it  is  useful  to  our  stockholders  to  present  Distributable  Earnings  (Loss)  Before  Realized  Gains  and  Losses,  a  non-GAAP ",
        "box": [
          29.25,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "measure, to reflect our run-rate operating results as (i) our operating results are mainly comprised of net interest income earned on our ",
        "box": [
          29.25,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "loan investments net of our operating expenses, which comprise our ongoing operations, (ii) it helps our stockholders in assessing the ",
        "box": [
          29.25,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "overall run-rate operating performance of our business, and (iii) it has been a useful reference related to our common dividend as it is one ",
        "box": [
          29.25,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "of the factors we and our Board of Directors consider when declaring the dividend. We believe that our stockholders use Distributable ",
        "box": [
          29.25,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Earnings  (Loss)  and  Distributable  Earnings  (Loss)  Before  Realized  Gains  and  Losses,  or  a  comparable  supplemental  performance ",
        "box": [
          29.25,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "measure, to evaluate and compare the performance of our company and our peers.",
        "box": [
          29.25,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable Earnings (Loss) (cont'd)",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "26",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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    ]
  },
  {
    "page_no": 27,
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    "cells": [
      {
        "text": "Other Definitions",
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      {
        "text": "27",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Realized Loan ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Portfolio Yield",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u25aa",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Provided for illustrative purposes only.  Calculations of realized loan portfolio yield are based on a number of assumptions ",
        "box": [
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        "confidence": 1.0
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      {
        "text": "(some or all of which may not occur) and are expressed as monthly equivalent yields that include net origination fees and exit ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "fees and exclude future fundings and any potential or completed loan amendments or modifications",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Fundings",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "\u25aa",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Increases  in  a  loan's  principal  balance,  including  new  originations,  fundings  on  loan  commitments,  upsizings,  capitalized ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "deferred interest, paid-in-kind (PIK) interest and short-sales with loan assumptions",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net (loss) ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Attributable to ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Common ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Stockholders",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u25aa",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "GAAP net (loss) attributable to our common stockholders after deducting dividends attributable to our cumulative redeemable ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "preferred stock",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Initial LTV at ",
        "box": [
          43.45,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Origination",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u25aa",
        "box": [
          134.11,
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          137.626,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "The initial loan amount (plus any financing that is pari passu with or senior to such loan) divided by the as is appraised value ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(as determined in conformance with USPAP) as of the date the loan was originated set forth in the original appraisal",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Stabilized LTV at ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Origination",
        "box": [
          47.4,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u25aa",
        "box": [
          134.11,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "The fully funded loan amount (plus any financing that is pari passu with or senior to such loan), including all contractually ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "provided for future fundings, divided by the as stabilized value (as determined in conformance with USPAP) set forth in the ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "original  appraisal.  As  stabilized  value  may  be  based  on  certain  assumptions,  such  as  future  construction  completion, ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "projected re-tenanting, payment of tenant improvement or leasing commissions allowances or free or abated rent periods, or ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "increased tenant occupancies",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Non-MTM",
        "box": [
          50.59,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u25aa",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Non-mark-to-market",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Original Term",
        "box": [
          41.47,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(Years)",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u25aa",
        "box": [
          134.11,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "The term of the loan through the initial maturity date at origination. Does not include any extension options and has not been ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "updated to reflect any subsequent extensions or modifications, if applicable",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Recourse Leverage ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Ratio",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u25aa",
        "box": [
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      {
        "text": "Borrowings outstanding on repurchase facilities and secured credit facility, less cash, divided by total stockholders' equity",
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        "text": "REO",
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        "text": "\u25aa",
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        "text": "Real estate owned",
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        "text": "Repayments",
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        "text": "\u25aa",
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        "from_ocr": false,
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      {
        "text": "Reductions in a loan's principal balance, including full loan repayments, partial loan repayments, principal amortization, cost-",
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        "text": "recovery for non-accrual loans and capitalized deferred interest repayments",
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        "text": "Other Definitions (cont'd)",
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        "text": "28",
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        "text": "Resolutions",
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        "text": "\u25aa",
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      {
        "text": "Reductions in a loan's principal balance, including discounted payoffs, loan sales related to collateral dependent loans, REO ",
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      {
        "text": "conversions and write-offs",
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      {
        "text": "Senior Loans",
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        "text": "\u25aa",
        "box": [
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        "from_ocr": false,
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      {
        "text": "A loan primarily secured by a first priority lien on commercial real property and related personal property and also includes, ",
        "box": [
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      {
        "text": "when applicable, any companion subordinate loans",
        "box": [
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      {
        "text": "Total Leverage Ratio",
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      {
        "text": "\u25aa",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Borrowings outstanding on repurchase facilities, secured credit facility, mortgage loan payable, loan participations sold and ",
        "box": [
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        "confidence": 1.0
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      {
        "text": "CLOs, less cash, divided by total stockholders' equity",
        "box": [
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      {
        "text": "Write-offs",
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      {
        "text": "\u25aa",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "The  portion  of  the  unpaid  principal  balance  of  a  loan  that  the  Company  charges  off.  Write-offs  typical  occur  with  loan ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "resolutions  but  may  occur  should  a  loan  that  is  not  collateral  dependent  be  modified  with  an  agreed  on  unpaid  principal ",
        "box": [
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        "from_ocr": false,
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      {
        "text": "balance reduction",
        "box": [
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        "confidence": 1.0
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        "text": "Company Information",
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        "text": "29",
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      {
        "text": "Granite  Point  Mortgage  Trust  Inc.  is  an  internally-managed  real  estate  finance  company  that  focuses  primarily  on  directly ",
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        "text": "real estate investments.\u00a0Granite Point was incorporated in Maryland on April 7, 2017, and has elected to be treated as a real ",
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        "text": "For more information regarding Granite Point, visit\u00a0www.gpmtreit.com",
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        "text": "1114 Avenue of the Americas, Suite 3020",
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        "text": "Head of Investor Relations",
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        "text": "Equiniti Trust Company",
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        "text": "P.0. Box 64856",
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      {
        "text": "St. Paul, MN 55164-0856",
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        "text": "www.shareowneronline.com ",
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  {
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    "cells": [
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        "text": "GRANITE POINT",
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        "text": "MORTGAGE TRUST",
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