Earnings
MCAN FINANCIAL GROUP REPORTS THIRD QUARTER RESULTS AND DECLARES 41 CENTS CASH DIVIDEND
MKP · Price
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.