Financial Highlights

Financial Highlights
2019 FQ2 YTD
6/30/2019
2018 FY
12/31/2018
2017 FY
12/31/2017
2016 FY
12/31/2016
2015 FY
12/31/2015
Balance Sheet ($000)
Total Securities 3,666,031 4,349,937 5,039,622 4,566,439 5,574,843
Investments 4,302,495 4,910,613 5,678,973 5,310,901 6,544,015
Total Assets 4,480,683 5,039,700 5,765,541 5,395,776 6,636,340
Total Debt 3,792,644 4,390,452 5,033,059 4,677,078 5,868,394
Total Liabilities 3,915,616 4,458,595 5,068,119 4,740,754 5,934,189
Equity Attributable to Parent Company 545,612 561,650 677,967 631,098 678,227
Total Equity 545,612 561,650 677,967 631,098 678,227
Total Debt/ Total Equity(x) 6.95 7.82 7.42 7.41 8.65
Debt plus Rdm Pfd/ Equity(x) 6.99 7.85 7.45 7.45 8.69
Investments/ Assets(%) 96.02 97.44 98.50 98.43 98.61
Total Equity/ Total Assets(%) 12.18 11.14 11.76 11.70 10.22
Total Capitalization($M) 4,284.30 4,906 5,684.10 5,256 6,381.60
Total Debt/ Total Capitalization(%) 88.52 89.49 88.55 88.99 91.96
Income Statement ($000)
Interest Income 81,761 159,972 142,748 140,452 145,498
Interest Expense 65,785 115,307 82,519 70,420 43,621
Net Interest Income 15,976 44,665 60,229 70,032 101,877
Gain on Investments 13,054 (40,050) (2,834) (5,035) 1,766
Revenue (61,508) 7,015 67,677 36,712 28,887
Total Expense 6,162 13,503 13,305 14,219 14,183
Net Income (67,670) (6,488) 54,372 22,493 14,704
Net Income Attributable to Parent (67,670) (6,488) 54,372 22,493 14,704
EBITDA (1,647) 109,292 137,356 93,365 58,766
Per Share Information ($)
Basic Book Value per Share 4.53 4.71 5.91 5.97 6.26
Diluted EPS before Extra (0.73) (0.16) 0.47 0.17 0.08
Diluted EPS after Extraordinary (0.73) (0.16) 0.47 0.17 0.08
Common Dividends Declared per Share 0.24 0.56 0.60 0.60 0.60
Dividend Payout Ratio(%) NM NM 127.66 352.94 750
Common Shares Outstanding(actual) 98,682,920 98,483,048 98,137,189 95,718,402 98,944,451
Profitability Ratios (%)
ROAA (2.68) (0.12) 0.99 0.38 0.20
ROACE (31.27) (3) 7.90 2.70 1.25
ROAE (24.15) (1.05) 8.16 3.46 2.04
ROATCE (31.27) (3) 7.90 2.70 1.25
Net Interest Margin 0.64 0.97 1.33 1.47 1.54
Net Interest Income/ Avg Assets 0.63 0.83 1.10 1.20 1.41
EBITDA/ Interest Expense(x) (0.03) 0.95 1.66 1.33 1.35
Growth Rates and Trends (%)
Investment Growth (24.77) (13.53) 6.93 (18.84) (9.41)
Asset Growth (22.18) (12.59) 6.85 (18.69) (9.07)
Debt Growth (27.23) (12.77) 7.61 (20.30) (8.42)
Equity Growth (5.71) (17.16) 7.43 (6.95) (10.47)
Basic Book Value per Share Growth (7.31) (20.42) (0.88) (4.71) (3.63)
Net Interest Income Growth (41.06) (25.84) (14) (31.26) 32.89
Net Income Growth NM NM 141.73 52.97 (48.62)
EPS after Extra Growth NM NM 176.50 112.50 (55.60)
Investments Five-year CAGR (12.27) (10.51) (9.28) (9.52) (3.30)
Assets Five-year CAGR (12.13) (10.17) (9.09) (9.34) (3.15)
Debt Five-year CAGR (11.92) (10.43) (8.98) (9.32) (1.76)
Equity Five-year CAGR (7.92) (8.55) (8.59) (8.46) (4.82)
Net Income Five-year CAGR NM NM (11.51) (28.77) (33.18)
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