v3.26.1
Other Assets and Other Liabilities (Tables)
 6 Months Ended
Jun. 30, 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)
June 30, 2026
December 31, 2025
Other assets:
Goodwill
$49,501
$49,501
Deferred loan exit fees
8,419
19,179
Accrued interest
26,243
42,143
Due from servicers
20,887
71,999
Intangible assets
36,459
38,172
Receivable from third party
51,214
43,968
Deferred financing costs
6,704
12,489
Deferred tax asset
201,573
201,573
Tax receivable
29,277
719
Right-of-use lease asset
3,026
3,368
PPP receivables
5,758
8,783
Other
27,100
16,344
Other assets
$466,161
$508,238
Accounts payable and other accrued liabilities:
Accrued salaries, wages and commissions
27,319
35,691
Accrued interest payable
34,959
40,306
Servicing principal and interest payable
17,465
19,388
Repair and denial reserve
15,035
12,328
Payable to related parties
8,185
9,720
PPP liabilities
—
8,592
Accrued professional fees
514
2,697
Lease payable
7,918
8,565
Liabilities of consolidated VIEs
3,554
2,517
Other
50,671
31,832
Total accounts payable and other accrued liabilities
$165,620
$171,636
Goodwill The table below presents the carrying value of goodwill by reportable segment.
(in thousands)
June 30, 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
June 30, 2026
Amortized intangible assets:
Internally developed software
$28,083
$13,691
$14,392
Customer relationships
10,299
2,632
7,667
Broker network
9,000
2,000
7,000
Trade name
2,500
416
2,084
Above market leases
1,958
189
1,769
Other
3,536
1,251
2,285
Unamortized intangible assets:
Trademark
262
—
262
SBA license
1,000
—
1,000
Total intangible assets
$56,638
$20,179
$36,459
Amortized intangible liabilities:
Below market leases
$(418)
$(30)
$(388)
Total intangible liabilities
$(418)
$(30)
$(388)
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)
June 30, 2026
2026
$3,640
2027
7,157
2028
6,131
2029
3,926
2030
2,504
Thereafter
11,451
Total
$34,809