Velocity Financial Inc. (VEL) Tops Q4 EPS by 16c, Revenues Beat
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Velocity Financial, Inc. Announces Fourth Quarter and Full Year 2020 Results
March 16, 2021 4:15 PM EDTFourth Quarter Highlights:
Net income and core income(1) of $9.6 million and diluted EPS of $0.29- Net income growth of 175% from the prior quarter driven by gains from the sale of newly originated loans and improved net interest margin 4Q20 loan production volume totaled $179.3 million, driven by strong demand Book value per common share as of December 31, 2020, was $10.93 compared to $10.44 as of September 30, 2020 Portfolio net interest margin of 4.07%, an increase of 30 basis points (bps) from 3Q20, driven by improved loan yields and lower portfolio debt costs Resolutions in... More
