$CHMI
Cherry Hill Mortgage Investment Corp

2023 Q2 Form 10-Q Financial Statement

#000114036123023504 Filed on May 08, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $21.53M -$16.74M $36.14M
YoY Change -297.05% -146.31% 27.85%
Cost Of Revenue $17.33M $2.765M $3.193M
YoY Change 562.56% -13.4% 3.6%
Gross Profit $4.208M -$19.50M $32.95M
YoY Change -131.07% -159.19% 30.81%
Gross Profit Margin 19.54% 91.17%
Selling, General & Admin $1.995M $1.523M $1.744M
YoY Change 33.09% -12.67% 21.11%
% of Gross Profit 47.41% 5.29%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $1.995M $3.203M $3.537M
YoY Change -35.91% -9.44% -1.15%
Operating Profit $2.213M -$22.71M $29.41M
YoY Change -113.29% -177.2% 36.11%
Interest Expense $13.17M $11.96M $1.640M
YoY Change 426.3% 628.96% 12.79%
% of Operating Profit 595.03% 5.58%
Other Income/Expense, Net
YoY Change
Pretax Income $2.213M -$19.94M $32.60M
YoY Change -115.76% -161.16% 32.05%
Income Tax $587.0K -$619.0K $3.875M
% Of Pretax Income 26.53% 11.89%
Net Earnings -$876.0K -$19.32M $28.73M
YoY Change -94.34% -167.26% 35.34%
Net Earnings / Revenue -4.07% 79.49%
Basic Earnings Per Share -$0.03 -$0.87 $1.40
Diluted Earnings Per Share -$0.03 -$0.87 $1.40
COMMON SHARES
Basic Shares Outstanding 25.80M 24.90M 18.25M
Diluted Shares Outstanding 26.03M 24.69M 18.27M

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $53.02M $54.56M $52.38M
YoY Change -13.84% 4.16% -15.38%
Cash & Equivalents $53.02M $54.56M $52.38M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $0.00 $0.00 $46.80M
Other Receivables $21.26M $21.65M $23.04M
Total Short-Term Assets $74.28M $76.21M $122.2M
YoY Change -50.58% -37.64% 0.1%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $264.9M $270.9M $1.020B
YoY Change 0.5% -73.44% -17.15%
Other Assets $7.889M $14.81M $26.97M
YoY Change -50.84% -45.09% -36.83%
Total Long-Term Assets $1.367B $1.403B $1.090B
YoY Change 30.32% 28.71% -15.41%
TOTAL ASSETS
Total Short-Term Assets $74.28M $76.21M $122.2M
Total Long-Term Assets $1.367B $1.403B $1.090B
Total Assets $1.442B $1.479B $1.212B
YoY Change 20.18% 22.02% -14.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.863M $1.903M $3.631M
YoY Change -96.82% -47.59% -89.13%
Accrued Expenses $8.546M $15.83M $2.428M
YoY Change 106.33% 552.14% -36.11%
Deferred Revenue
YoY Change
Short-Term Debt $979.9M $991.6M $764.9M
YoY Change 43.43% 29.64% -18.11%
Long-Term Debt Due $66.50M $66.50M $65.00M
YoY Change 2.31%
Total Short-Term Liabilities $1.063B $1.085B $843.2M
YoY Change 41.11% 28.67% -13.78%
LONG-TERM LIABILITIES
Long-Term Debt $108.5M $111.4M $94.07M
YoY Change -39.17% 18.45% -19.53%
Other Long-Term Liabilities $7.472M $18.40M $15.15M
YoY Change -41.16% 21.46% 87.0%
Total Long-Term Liabilities $115.9M $129.8M $109.2M
YoY Change -39.3% 18.87% -12.63%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.063B $1.085B $843.2M
Total Long-Term Liabilities $115.9M $129.8M $109.2M
Total Liabilities $1.179B $1.215B $952.4M
YoY Change 24.84% 27.55% -13.65%
SHAREHOLDERS EQUITY
Retained Earnings -$202.2M -$197.3M
YoY Change 25.77%
Common Stock $274.0K $261.0K
YoY Change 36.32%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $259.4M $261.0M $256.0M
YoY Change
Total Liabilities & Shareholders Equity $1.442B $1.479B $1.212B
YoY Change 20.18% 22.02% -14.07%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$876.0K -$19.32M $28.73M
YoY Change -94.34% -167.26% 35.34%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $1.197M $3.648M $13.76M
YoY Change -92.39% -73.49% 6.69%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$5.864M -$157.3M $57.61M
YoY Change -115.77% -372.96% -68.38%
Cash From Investing Activities -$5.864M -$157.3M $57.61M
YoY Change -115.77% -372.96% -68.38%
FINANCING ACTIVITIES
Cash Dividend Paid $8.806M $7.391M
YoY Change 19.14%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.791M 157.4M -68.80M
YoY Change -93.07% -328.82% -68.81%
NET CHANGE
Cash From Operating Activities 1.197M 3.648M 13.76M
Cash From Investing Activities -5.864M -157.3M 57.61M
Cash From Financing Activities -3.791M 157.4M -68.80M
Net Change In Cash -8.458M 3.814M 2.576M
YoY Change 378.94% 48.06% -110.1%
FREE CASH FLOW
Cash From Operating Activities $1.197M $3.648M $13.76M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Derivatives and Hedging Activities</div> <div><br/> </div> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Derivative transactions include swaps, swaptions, U.S. treasury futures and “to-be-announced” securities (“TBAs”). A TBA contract is an agreement to purchase or sell, for future delivery, an Agency RMBS with a specified issuer, term and coupon. Swaps and swaptions are entered into by the Company solely for interest rate risk management purposes. TBAs and U.S. treasury futures are used to manage duration risk as well as basis risk and pricing risk on the Company’s financing facilities for MSRs. The decision as to whether or not a given transaction/position (or portion thereof) is economically hedged is made on a case-by-case basis, based on the risks involved and other factors as determined by senior management, including restrictions imposed by the Code on REITs. In determining whether to economically hedge a risk, the Company may consider whether other assets, liabilities, firm commitments and anticipated transactions already offset or reduce the risk. All transactions undertaken as economic hedges are entered into with a view towards minimizing the potential for economic losses that could be incurred by the Company. Generally, derivatives entered into are not intended to qualify as hedges under GAAP, unless specifically stated otherwise.</div> <div><br/> </div> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">From time to time, the Company enters into a TBA dollar roll which represents a transaction where TBA contracts with the same terms but different settlement dates are simultaneously bought and sold. The TBA contract settling in the later month typically prices at a discount to the earlier month contract with the difference in price commonly referred to as the “drop”. The drop is a reflection of the expected net interest income from an investment in similar Agency RMBS, net of an implied financing cost, that would be foregone as a result of settling the contract in the later month rather than in the earlier month. The drop between the current settlement month price and the forward settlement month price occurs because in the TBA dollar roll market, the party providing the financing is the party that would retain all principal and interest payments accrued during the financing period. Accordingly, drop income on TBA dollar rolls generally represents the economic equivalent of the net interest income earned on the underlying Agency RMBS less an implied financing cost. TBA dollar roll transactions are accounted for under GAAP as a series of derivatives transactions.</div> <div><br/></div> <div><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company’s bi-lateral derivative financial instruments contain credit risk to the extent that its counterparties may be unable to meet the terms of the agreements. The Company reduces such risk by limiting its exposure to any one counterparty. In addition, the potential risk of loss with any one party resulting from this type of credit risk is monitored. The Company’s interest rate swaps and U.S. treasury futures are required to be cleared on an exchange, which further mitigates, but does not eliminate, credit risk. Management does not expect any material losses as a result of default by other parties to its derivative financial instruments.</span></div> <div><span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div><br/> </div> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-size: 10pt; font-family: 'Times New Roman';"><span style="text-decoration: underline;">Classification</span></span> – All derivatives, including TBAs, are recognized as either assets or liabilities on the consolidated balance sheets and measured at fair value. The fair value of TBA derivatives is determined using methods similar to those used to value Agency RMBS. Due to the nature of these instruments, they may be in a receivable/asset position or a payable/liability position at the end of an accounting period. Derivative amounts payable to, and receivable from, the same party under a contract may be offset as long as the following conditions are met: (i) each of the two parties owes the other determinable amounts; (ii) the reporting party has the right to offset the amount owed with the amount owed by the other party; (iii) the reporting party intends to offset; and (iv) the right to offset is enforceable by law. The Company reports the fair value of derivative instruments gross of cash paid or received pursuant to credit support agreements, and fair value may be reflected on a net counterparty basis when the Company believes a legal right of offset exists under an enforceable master netting agreement. For further discussion on offsetting assets and liabilities, see Note 8.</div> <div><br/> </div> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-size: 10pt; font-family: 'Times New Roman';"><span style="text-decoration: underline;">Revenue Recognition</span></span> – With respect to derivatives that have not been designated as hedges, any payments under, or fluctuations in the fair value of, such derivatives have been recognized currently in “Realized gain (loss) on derivatives, net” and “Unrealized gain (loss) on derivatives, net”, respectively, in the consolidated statements of income (loss). Interest rate swap periodic interest income (expense) is included in “Realized gain (loss) on derivatives, net” in the consolidated statements of income (loss).</div>
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ManagementFeeAndExpenseReimbursementToAffiliate
1680000
CY2022Q1 chmi Management Fee And Expense Reimbursement To Affiliate
ManagementFeeAndExpenseReimbursementToAffiliate
1793000
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
855251000
CY2023Q1 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
24868000
CY2023Q1 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
1836000
CY2023Q1 us-gaap Derivative Assets
DerivativeAssets
23032000
CY2023Q1 us-gaap Derivative Collateral Obligation To Return Securities
DerivativeCollateralObligationToReturnSecurities
16750000
CY2023Q1 us-gaap Derivative Collateral Obligation To Return Cash
DerivativeCollateralObligationToReturnCash
6282000
CY2023Q1 us-gaap Derivative Asset Not Offset Policy Election Deduction
DerivativeAssetNotOffsetPolicyElectionDeduction
0
CY2023Q1 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
1011852000
CY2023Q1 us-gaap Derivative Liability Fair Value Gross Asset
DerivativeLiabilityFairValueGrossAsset
1836000
CY2023Q1 us-gaap Derivative Fair Value Of Derivative Liability Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
1010016000
CY2023Q1 us-gaap Derivative Liability Collateral Right To Reclaim Cash Offset
DerivativeLiabilityCollateralRightToReclaimCashOffset
1009187000
CY2023Q1 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
829000
CY2023Q1 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
0
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
50104000
CY2022Q4 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
4571000
CY2022Q4 us-gaap Derivative Assets
DerivativeAssets
45533000
CY2022Q4 us-gaap Derivative Collateral Obligation To Return Securities
DerivativeCollateralObligationToReturnSecurities
41669000
CY2022Q4 us-gaap Derivative Collateral Obligation To Return Cash
DerivativeCollateralObligationToReturnCash
3864000
CY2022Q4 us-gaap Derivative Asset Not Offset Policy Election Deduction
DerivativeAssetNotOffsetPolicyElectionDeduction
0
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
98967000
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
0
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Liability Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
850680000
CY2022Q4 us-gaap Derivative Liability Collateral Right To Reclaim Cash Offset
DerivativeLiabilityCollateralRightToReclaimCashOffset
857507000
CY2022Q4 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
-6827000
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
0
CY2023Q1 chmi Percentage Of Gross Equity Paid To Manager As Annual Management Fee
PercentageOfGrossEquityPaidToManagerAsAnnualManagementFee
0.015
CY2023Q1 us-gaap Securities Sold Under Agreements To Repurchase Gross
SecuritiesSoldUnderAgreementsToRepurchaseGross
991600000
CY2022Q4 us-gaap Securities Sold Under Agreements To Repurchase Gross
SecuritiesSoldUnderAgreementsToRepurchaseGross
826000000
CY2023Q1 chmi Repurchase Agreements Maturity Period
RepurchaseAgreementsMaturityPeriod
P16D
CY2022 chmi Repurchase Agreements Maturity Period
RepurchaseAgreementsMaturityPeriod
P18D
CY2023Q1 chmi Repurchase Agreement Obligation Less Than One Month Maturities
RepurchaseAgreementObligationLessThanOneMonthMaturities
954858000
CY2023Q1 chmi Repurchase Agreement Less Than One Month Weighted Average Rate
RepurchaseAgreementLessThanOneMonthWeightedAverageRate
0.0487
CY2023Q1 chmi Repurchase Agreement Obligation One To Three Months Maturities
RepurchaseAgreementObligationOneToThreeMonthsMaturities
36760000
CY2023Q1 chmi Repurchase Agreement One To Three Months Weighted Average Rate
RepurchaseAgreementOneToThreeMonthsWeightedAverageRate
0.0492
CY2023Q1 us-gaap Securities Sold Under Agreements To Repurchase Gross
SecuritiesSoldUnderAgreementsToRepurchaseGross
991618000
CY2023Q1 chmi Repurchase Agreement Weighted Average Rate
RepurchaseAgreementWeightedAverageRate
0.0487
CY2022Q4 chmi Repurchase Agreement Obligation Less Than One Month Maturities
RepurchaseAgreementObligationLessThanOneMonthMaturities
715899000
CY2022Q4 chmi Repurchase Agreement Less Than One Month Weighted Average Rate
RepurchaseAgreementLessThanOneMonthWeightedAverageRate
0.0439
CY2022Q4 chmi Repurchase Agreement Obligation One To Three Months Maturities
RepurchaseAgreementObligationOneToThreeMonthsMaturities
110063000
CY2022Q4 chmi Repurchase Agreement One To Three Months Weighted Average Rate
RepurchaseAgreementOneToThreeMonthsWeightedAverageRate
0.0453
CY2022Q4 us-gaap Securities Sold Under Agreements To Repurchase Gross
SecuritiesSoldUnderAgreementsToRepurchaseGross
825962000
CY2022Q4 chmi Repurchase Agreement Weighted Average Rate
RepurchaseAgreementWeightedAverageRate
0.0441
CY2022 chmi Number Of Overnight And Demand Securities
NumberOfOvernightAndDemandSecurities
0
CY2023Q1 chmi Number Of Overnight And Demand Securities
NumberOfOvernightAndDemandSecurities
0
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
67110000
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
7641000
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
8282000
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
95467000
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
0
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
178500000
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
69127000
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
7868000
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
8538000
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
184500000
CY2023Q1 chmi Servicing Advances
ServicingAdvances
10584000
CY2022Q4 chmi Servicing Advances
ServicingAdvances
15090000
CY2023Q1 us-gaap Interest Receivable
InterestReceivable
5417000
CY2022Q4 us-gaap Interest Receivable
InterestReceivable
4381000
CY2023Q1 us-gaap Deferred Income Taxes And Other Tax Receivable Current
DeferredIncomeTaxesAndOtherTaxReceivableCurrent
16164000
CY2022Q4 us-gaap Deferred Income Taxes And Other Tax Receivable Current
DeferredIncomeTaxesAndOtherTaxReceivableCurrent
15545000
CY2023Q1 us-gaap Accounts And Other Receivables Net Current
AccountsAndOtherReceivablesNetCurrent
5488000
CY2022Q4 us-gaap Accounts And Other Receivables Net Current
AccountsAndOtherReceivablesNetCurrent
1749000
CY2023Q1 chmi Receivables And Other Assets
ReceivablesAndOtherAssets
37653000
CY2022Q4 chmi Receivables And Other Assets
ReceivablesAndOtherAssets
36765000
CY2023Q1 chmi Interest Payable On Repurchase Agreements
InterestPayableOnRepurchaseAgreements
4344000
CY2022Q4 chmi Interest Payable On Repurchase Agreements
InterestPayableOnRepurchaseAgreements
2796000
CY2023Q1 chmi Accrued Interest On Notes Payable
AccruedInterestOnNotesPayable
1926000
CY2022Q4 chmi Accrued Interest On Notes Payable
AccruedInterestOnNotesPayable
1710000
CY2023Q1 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
1864000
CY2022Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
3804000
CY2023Q1 chmi Due To Counterparties
DueToCounterparties
7700000
CY2022Q4 chmi Due To Counterparties
DueToCounterparties
11197000
CY2023Q1 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
15834000
CY2022Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
19507000
CY2023Q1 chmi Percentage Of Taxable Income That Must Be Distributed To Qualify As Areit
PercentageOfTaxableIncomeThatMustBeDistributedToQualifyAsAREIT
0.90
CY2023Q1 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-537000
CY2022Q1 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
3295000
CY2023Q1 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-82000
CY2022Q1 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
580000
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-619000
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3875000
CY2023Q1 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-4189000
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2022Q1 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
6847000
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2023Q1 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-64000
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.003
CY2022Q1 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
459000
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.014
CY2023Q1 us-gaap Income Tax Reconciliation Tax Exempt Income
IncomeTaxReconciliationTaxExemptIncome
-3634000
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation Tax Exempt Income
EffectiveIncomeTaxRateReconciliationTaxExemptIncome
-0.182
CY2022Q1 us-gaap Income Tax Reconciliation Tax Exempt Income
IncomeTaxReconciliationTaxExemptIncome
3431000
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation Tax Exempt Income
EffectiveIncomeTaxRateReconciliationTaxExemptIncome
-0.105
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-619000
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.031
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3875000
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.119
CY2023Q1 us-gaap Income Tax Receivable
IncomeTaxReceivable
128000
CY2022Q4 us-gaap Income Tax Receivable
IncomeTaxReceivable
128000
CY2023Q1 us-gaap Income Tax Receivable
IncomeTaxReceivable
128000
CY2022Q4 us-gaap Income Tax Receivable
IncomeTaxReceivable
128000
CY2023Q1 chmi Deferred Tax Asset Mortgage Servicing Rights
DeferredTaxAssetMortgageServicingRights
624000
CY2022Q4 chmi Deferred Tax Asset Mortgage Servicing Rights
DeferredTaxAssetMortgageServicingRights
1082000
CY2023Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
14732000
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
13844000
CY2023Q1 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
808000
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
619000
CY2023Q1 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
16164000
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
15545000
CY2023Q1 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
62800000

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brhc20052160_10q.htm Edgar Link pending
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