v3.26.1
Other Assets and Other Liabilities (Tables)
 3 Months Ended
Mar. 31, 2026
Other Assets and Other Liabilities [Abstract]  
Schedule of Other Assets and Other Liabilities The table below presents the composition of other assets and other liabilities.
(in thousands)
March 31, 2026
December 31, 2025
Other assets:
Goodwill
$49,501
$49,501
Deferred loan exit fees
10,143
19,179
Accrued interest
25,954
42,143
Due from servicers
28,008
71,999
Intangible assets
37,419
38,172
Receivable from third party
57,178
43,968
Deferred financing costs
10,392
12,489
Deferred tax asset
201,573
201,573
Tax receivable
16,733
719
Right-of-use lease asset
3,198
3,368
PPP receivables
6,820
8,783
Other
19,464
16,344
Other assets
$466,383
$508,238
Accounts payable and other accrued liabilities:
Accrued salaries, wages and commissions
24,351
35,691
Accrued interest payable
33,664
40,306
Servicing principal and interest payable
18,418
19,388
Repair and denial reserve
12,682
12,328
Payable to related parties
4,235
9,720
PPP liabilities
3,834
8,592
Accrued professional fees
718
2,697
Lease payable
8,246
8,565
Liabilities of consolidated VIEs
3,317
2,517
Other
51,736
31,832
Total accounts payable and other accrued liabilities
$161,201
$171,636
Schedule of Goodwill The table below presents the carrying value of goodwill by reportable segment.
(in thousands)
March 31, 2026
December 31, 2025
LMM Commercial Real Estate
$27,324
$27,324
Small Business Lending
22,177
22,177
Total
$49,501
$49,501
Schedule of Intangible Assets The table below presents information on intangible assets.
(in thousands)
Gross Carrying Amount
Accumulated Amortization
Net Carrying Value
March 31, 2026
Amortized intangible assets:
Internally developed software
$27,204
$12,604
$14,600
Customer relationships
11,968
2,434
9,534
Broker network
7,250
1,750
5,500
Trade name
2,500
208
2,292
Above market leases
2,008
139
1,869
Other
3,566
1,204
2,362
Unamortized intangible assets:
Trademark
262
—
262
SBA license
1,000
—
1,000
Total intangible assets
$55,758
$18,339
$37,419
Amortized intangible liabilities:
Below market leases
$(426)
$(22)
$(404)
Total intangible liabilities
$(426)
$(22)
$(404)
December 31, 2025
Amortized intangible assets:
Internally developed software
$26,120
$11,520
$14,600
Customer relationships
10,299
2,236
8,063
Broker network
9,000
1,500
7,500
Above market leases
1,958
89
1,869
Other
3,536
1,158
2,378
Unamortized intangible assets:
Trade name
2,500
—
2,500
Trademark
262
—
262
SBA license
1,000
—
1,000
Total intangible assets
$54,675
$16,503
$38,172
Amortized intangible liabilities:
Below market leases
$(418)
$(14)
$(404)
Total intangible liabilities
$(418)
$(14)
$(404)
Schedule of Amortization Expense For Finite-Lived Intangible Assets The table below presents amortization expense related to finite-lived intangible assets for the subsequent five years.
(in thousands)
March 31, 2026
2026
$5,449
2027
7,128
2028
6,102
2029
3,898
2030
2,475
Thereafter
10,701
Total
$35,753