Impac Mortgage — Shareholder Meeting (July 2017)
11 slides from Impac Mortgage's shareholder meeting presentation, Jul 27, 2017
Slide 1: Safe Harbor Statement
Safe Harbor Statement During this presentation we will make projections or other forward-looking statements in regards to but not limited to GAAP and taxable earnings, cash flows, interest rate and market risk exposure, mortgage production and general market conditions. I would like to refer you to
Slide 2: 2016 Overview
2016 Overview Total originations of $12.9 billion GAAP net earnings of $46.7 million Adjusted operating income* of $96.9 million From December 31, 2015 to December 31, 2016: Book value per share increased from $11.09 to $14.42 Market capitalization increased from $185.9 million to $224.6 million *Op
Slide 3: 2016 Total Originations of $12.9B
2016 Total Originations of $12.9B 2014 2015 2016 $2.8 $9.3 $12.9 $0 $2 $4 $6 $8 $10 $12 (in billions)
Slide 4: Mortgage Originations by Channel
Mortgage Originations by Channel 2014 2015 2016 Wholesale $598.9 $1,449.2 $1,334.2 Retail $80.3 $5,571.8 $9,670.1 Correspondent $2,169.6 $2,238.0 $1,919.9 $- $2,000.0 $4,000.0 $6,000.0 $8,000.0 $10,000.0 (in millions)
Slide 5: Servicing Portfolio Increased to $12.4B
Servicing Portfolio Increased to $12.4B 12/31/2014 12/31/2015 12/31/2016 UPB $2.3 $3.6 $12.4 $- $2.0 $4.0 $6.0 $8.0 $10.0 $12.0 $14.0 (in billions)
Slide 6: 2016 Adjusted Operating Income of $96.9M
2016 Adjusted Operating Income* of $96.9M *Operating income excluding changes in contingent consideration 2014 2015 2016 $(13.2) $33.5 $96.9 $(15.0) $5.0 $25.0 $45.0 $65.0 $85.0 (in millions)
Slide 7: Growth of NonQM Production
Growth of NonQM Production 2014 2015 2016 2017 (YTD 6/30) $7.0 $132.4 $289.6 $416.7 $- $50.0 $100.0 $150.0 $200.0 $250.0 $300.0 $350.0 $400.0 $450.0 (in millions)
Slide 8: Capital Transactions
Capital Transactions January 2016 - Converted $20 million of debt (originally issued in 2014) into common stock, increasing book value by $20 million September 2016 - Completed a successful over-subscribed public offering, providing net proceeds to the Company of approximately $42.6 million March 20
Slide 9: 2017 Looking Ahead
2017 Looking Ahead Continue grow NonQM production Continue to increase servicing portfolio Invest in technology
Slide 10: This concludes my prepared remarks, thank you for attending
This concludes my prepared remarks, thank you for attending Impac Mortgage Holdings, Inc. 2017 Annual Stockholders’ Meeting.
Slide 11: This concludes my prepared remarks
This concludes my prepared remarks, thank you for attending Impac Mortgage Holdings, Inc. 2017 Annual Stockholders’ Meeting. IMPAC.
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