MCAN FINANCIAL GROUP REPORTS THIRD QUARTER RESULTS AND DECLARES 41 CENTS CASH DIVIDEND

Executive Summary

• MCAN Mortgage Corp. reported Q3 2025 net income of $20.5 M (up 2% QoQ) and EPS of $0.52, with a ROE of 13.09%.
• The Board declared a regular cash dividend of $0.41 per share payable on Jan 2 2026 (record date Dec 15 2025).
• Uninsured residential mortgage originations surged 30% YoY, and the newly launched uninsured residential mortgage securitization program began generating income.

Key Details

• Q3 2025 Financial Highlights
• Net interest income: $23.8 M
• Net income: $20.5 M
• EPS (basic & diluted): $0.52
• Book value per share: $15.85
• Total AUM: $7.0 B
• Year‑to‑Date (YTD) Highlights
• Net interest income: $71.2 M
• Net income: $57.3 M
• EPS YTD: $1.46
• CET1 ratio: 19.01%
• Mortgage Origination Growth
• Residential mortgage assets now $4.0 B (+10% YTD)
• Uninsured residential mortgage assets: $1.2 B (+10% YTD)
• Insured residential mortgage assets: $2.8 B (+9% YTD)
• Uninsured originations up 30% YoY, adding $4.4 M of interest income.
• Uninsured Residential Mortgage Securitization Program – launched in Q3, contributing to diversification and capital optimization.
• Residential Construction Loans – balances grew to $1.2 B (+8% YTD); loan advances up 4% YoY.
• MCAP Investment Performance
• MCAP income Q3: $10.4 M (+55% YoY, +6% QoQ)
• MCAP YTD income: $25.7 M (+19% YoY)
• Provision for Credit Losses – $2.1 M in Q3; $7.4 M YTD, reflecting heightened economic uncertainty.
• Impaired Mortgage Ratio – 2.61% at Sep‑30‑2025 (up from 2.34% at Jun‑30‑2025).
• Dividend Declaration – $0.41 per share payable Jan 2 2026 to shareholders of record Dec 15 2025.

Notable Quotes

“We achieved good results for the quarter, with net income up 2% compared to last quarter… our uninsured residential mortgage securitization program launched successfully,” — Derek Sutherland, President & CEO.