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ArrowMark Financial
ArrowMark Financial (BANX) investor relations material
ArrowMark Financial has been acquired
ArrowMark Financial Q1 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2024 earnings summary3 Sep, 2024
Executive summary
Net assets as of March 31, 2024, were $151.2 million, with total assets of $205.1 million and liabilities of $53.97 million.
Q1 2024 net income reached $0.70 per share, exceeding the quarterly distribution of $0.45 per share.
The portfolio is diversified across term loans, structured debt, regulatory capital relief securities, preferred securities, and money market funds.
The fund's investments are primarily in banking-related credit and structured products, with significant exposure to regulatory capital relief securities.
The fund has consistently over-earned its distribution rate for the past four years, supporting its objective of providing consistent income.
Financial highlights
Net assets: $151,171,201; total assets: $205,141,802; total liabilities: $53,970,601 as of March 31, 2024.
Net income for Q1 2024 was $0.70 per share.
Monthly total returns for the last three months: 3.14%, 0.16%, and 3.74%.
Net realized losses on investments (excluding derivatives) for the last three months: -$155,827, -$1,462,340, and -$964,174.
Gross unrealized appreciation: $1,433,238; gross unrealized depreciation: $10,679,629; net unrealized depreciation: $9,246,391.
Segment performance
Term loans represent 6.6% of the portfolio, structured debt securities 7.3%, regulatory capital relief securities 116.2%, and trust preferred/preferred securities 1.2%.
Money market funds account for 1.3% of the portfolio.
Largest single investment: Community Funding 2018, LLC preferred shares, valued at $11.08 million.
Q1 2024 net income per share?
Explain objective to provide consistent income.
List risks ArrowMark Financial is subject to.
What drives the 48.93% Level 3 asset valuation?
Clarify Regulatory Capital Relief Securities at 116.2% NAV
Address the $9.2M net unrealized depreciation
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ArrowMark Financial
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Frequently asked questions
ArrowMark Financial Corp. is a specialty finance company primarily focused on investing in the financial services industry. The company provides customized financing solutions and invests in a range of financial instruments, including loans, securities, and other structured finance products. ArrowMark Financial serves institutional and individual clients, with an emphasis on sectors such as banking, insurance, and asset management. The company is headquartered in Denver, Colorado, and its shares are listed on the NASDAQ.
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