{"id":380693,"date":"2020-11-13T07:08:24","date_gmt":"2020-11-13T12:08:24","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=380693"},"modified":"2020-11-13T07:08:24","modified_gmt":"2020-11-13T12:08:24","slug":"timbercreek-financial-announces-2020-third-quarter-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/timbercreek-financial-announces-2020-third-quarter-results\/","title":{"rendered":"Timbercreek Financial Announces 2020 Third Quarter Results"},"content":{"rendered":"<h2>\nCompany also announces changes to Board of Directors<br \/>\n<\/h2>\n<div class=\"mw_release\">\n<p>TORONTO, Nov.  13, 2020  (GLOBE NEWSWIRE) &#8212; Timbercreek Financial (TSX: TF) (the \u201cCompany\u201d) announced today its financial results for the three months and nine months ended September\u00a030, 2020 (\u201cQ3 2020\u201d).<\/p>\n<p align=\"justify\">\n        <strong><br \/>\n          <u>Q3 2020 Highlights<\/u><br \/>\n        <\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">Portfolio continues to perform well through the COVID-19 pandemic with no material increase in delinquencies<br \/>\u00a0<\/li>\n<li style=\"text-align:justify\">Generated $0.18 in distributable income per share and $0.17 adjusted net income per share as well as delivered a 98.3% distributable income payout ratio and a 102.5% adjusted net income payout ratio.<br \/>\u00a0<\/li>\n<li style=\"text-align:justify\">Funded $89.4M on new and existing mortgages versus repayments of $145.8M.\u00a0 This resulted in a reduction of net mortgage investments to $1,153.2M in Q3 2020.\u00a0 The increase in repayments resulted in a Q3 turnover ratio of 12.3% versus 6.4% in Q2 and is a positive sign of increased market activity that will provide capital for new investment opportunities.\u00a0 Of note, the majority of these repayments (71%) occurred in September.<br \/>\u00a0<\/li>\n<li style=\"text-align:justify\">Maintained conservative portfolio risk position focused on income-producing commercial real estate<br \/>\u00b0 90.4% of mortgage investment portfolio are first mortgages<br \/>\u00b0\u00a084.1% of mortgage investment portfolio is invested in cash-flowing properties<br \/>\u00b0\u00a068.2% weighted average loan-to-value<br \/>\u00b0\u00a07.2% quarterly weighted average interest rate on net mortgage investment<br \/>\u00a0<\/li>\n<li style=\"text-align:justify\">Delivered adjusted net income and comprehensive income of $13.6 million and distributable income of $14.2 million<br \/>\u00a0<\/li>\n<li style=\"text-align:justify\">Paid $14.0 million in dividends to shareholders<\/li>\n<\/ul>\n<p align=\"justify\">\u201cOur mortgage portfolio continued to perform solidly in the third quarter, with collection rates remaining high and trending in line with historical norms,\u201d said Blair Tamblyn, Chief Executive Officer of Timbercreek Financial. \u201cThis performance underscores the benefit of our emphasis on durable, income-generating assets and our conservative portfolio positioning. Importantly, we delivered distributable income in line with our expectations. New investment activity was lower in the quarter as transaction volumes declined across the industry. We had a material volume of repayments, which, when combined with a larger debt facility, will enable us to capitalize on new investment opportunities in the market. We have already seen an uptick in transaction activity in the current quarter.\u201d<\/p>\n<p align=\"justify\">\n        <strong><br \/>\n          <u>Quarterly Comparison<\/u><br \/>\n        <\/strong>\n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong><br \/>\n              <em>$ millions<\/em><br \/>\n            <\/strong>\n          <\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Q3 2020<\/strong>\n          <\/td>\n<td style=\"border-right: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Q3 2019<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Q2 2020<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:55%;width:55%;min-width:55%;vertical-align: bottom\">Net Mortgage Investments<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\">\n            <strong>$<\/strong>\n          <\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>1,153.2<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: top\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-right: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\">$<\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;text-align: right;vertical-align: middle;vertical-align: bottom\">1,174.1<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: top\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\">$<\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;text-align: right;vertical-align: middle;vertical-align: bottom\">1,210.3<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Enhanced Return Portfolio Investments<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>$<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>93.6<\/strong>\n          <\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">103.0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">82.6<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Net Investment Income<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>$<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>24.1<\/strong>\n          <\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">24.7<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">22.0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Income from Operations<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>$<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>20.2<\/strong>\n          <\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">21.3<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">18.2<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Net Income and comprehensive Income<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>$<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>14.4<\/strong>\n          <\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">13.9<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">11.7<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">&#8211;Adjusted Net Income and comprehensive Income<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>$<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>13.6<\/strong>\n          <\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">13.9<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">11.5<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Distributable Income<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>$<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>14.2<\/strong>\n          <\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">15.9<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">14.8<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Dividends to Shareholders<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>$<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>14.0<\/strong>\n          <\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">14.3<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">14.2<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong><br \/>\n              <em>$ per share<\/em><br \/>\n            <\/strong>\n          <\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Q3 2020<\/strong>\n          <\/td>\n<td style=\"border-right: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Q3 2019<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Q2 2020<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Dividends per share<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>$<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>0.17<\/strong>\n          <\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">0.17<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">0.17<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Distributable Income per share<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>$<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>0.18<\/strong>\n          <\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">0.19<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">0.18<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Earnings per share<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>$<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>0.18<\/strong>\n          <\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">0.17<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">0.14<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">&#8211;Adjusted Earnings per share<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>$<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>0.17<\/strong>\n          <\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">0.17<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">0.14<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Payout Ratio on Distributable Income<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>98.3<\/strong>\n          <\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>%<\/strong>\n          <\/td>\n<td style=\"border-right: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">90.2<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">95.7<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Payout Ratio on Earnings per share<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>96.7<\/strong>\n          <\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>%<\/strong>\n          <\/td>\n<td style=\"border-right: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">103.0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">120.5<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Payout Ratio on Adjusted Earnings per share<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>102.5<\/strong>\n          <\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>%<\/strong>\n          <\/td>\n<td style=\"border-right: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">103.0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">122.6<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong><br \/>\n              <em>Net Mortgage Investments<\/em><br \/>\n            <\/strong>\n          <\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Q3 2020<\/strong>\n          <\/td>\n<td style=\"border-right: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Q3 2019<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Q2 2020<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Weighted Average Loan-to-Value<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>68.2<\/strong>\n          <\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>%<\/strong>\n          <\/td>\n<td style=\"border-right: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">67.8<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">68.7<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Weighted Average Remaining Term to Maturity<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>1.1 yr<\/strong>\n          <\/td>\n<td style=\"border-right: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">1.1 yr<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">1.3 yr<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">First Mortgages<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>90.4<\/strong>\n          <\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>%<\/strong>\n          <\/td>\n<td style=\"border-right: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">92.8<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">92.1<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Cash-Flowing Properties<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>84.1<\/strong>\n          <\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>%<\/strong>\n          <\/td>\n<td style=\"border-right: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">87.4<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">85.8<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Rental Apartments<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>50.0<\/strong>\n          <\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>%<\/strong>\n          <\/td>\n<td style=\"border-right: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">46.5<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">51.6<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Floating Rate Loans with rate floors (at quarter end)<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>77.3<\/strong>\n          <\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>%<\/strong>\n          <\/td>\n<td style=\"border-right: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">58.0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">75.1<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Weighted Average Interest Rate<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">For the quarter ended<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>7.2<\/strong>\n          <\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>%<\/strong>\n          <\/td>\n<td style=\"border-right: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">7.3<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">7.1<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Weighted Average Lender Fee<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">New and Renewed<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>0.7<\/strong>\n          <\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>%<\/strong>\n          <\/td>\n<td style=\"border-right: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">0.9<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">0.7<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">New Net Mortgage Investment Only<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>1.2<\/strong>\n          <\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>%<\/strong>\n          <\/td>\n<td style=\"border-right: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">1.2<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">1.1<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<\/tr>\n<\/table>\n<p>\n        <strong><br \/>\n          <u><br \/>\n            <br \/>Board of Director Changes<\/u><br \/>\n        <\/strong><br \/>\n        \n      <\/p>\n<p align=\"justify\">The Company also announced the following changes to its Board of Directors, which reflect the recently announced evolution of Timbercreek Asset Management (\u201cTimbercreek\u201d).<\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">Scott Rowland, Chief Investment Officer of Timbercreek, joins the Board as a director. Mr. Rowland is\u00a0responsible for the development of investment strategies and the overall performance of Timbercreek\u2019s portfolios, and oversees the company\u2019s investment team.\u00a0Mr. Rowland has over 20 years of industry experience with roles including the Co-Head of Debt Strategies for Fiera Properties and the Managing Director for Blackstone\u2019s debt business in Canada.\u00a0During a 19-year career at GE Capital, Mr. Rowland held a variety of roles including credit underwriting, Asset Management Leader, Originations Leader and the Managing Director for Real Estate in Canada.\u00a0 \u00a0<\/li>\n<li style=\"text-align:justify\">Steven Scott, a long-time independent director of the Company, has reached an agreement in principle to acquire an ownership position in Timbercreek, and will become a non-independent director as a result. To ensure the appropriate ratio of independent directors, Ugo Bizzarri, has agreed to resign from the Board of Directors. \u00a0\u00a0\u00a0<\/li>\n<li style=\"text-align:justify\">Amar Bhalla joins the Board as an independent director. Mr. Amar Bhalla is a principal at the Amdev Property Group, a private real estate company that owns and manages a portfolio of apartment buildings, commercial sites, and development projects in the GTA. He has over 20 years of experience in the acquisition, repositioning and redevelopment of GTA-based real estate across asset classes. Mr. Bhalla serves on the boards of several TSX and TSX-V listed businesses, including acting as Chair of Dream Impact Trust. Mr. Bhalla is a CFA charterholder and a member of the Institute of Corporate Directors.<\/li>\n<li style=\"text-align:justify\">Cameron Goodnough, who is transitioning the Timbercreek CEO role to Blair Tamblyn, will also no longer serve on the Board.<\/li>\n<\/ul>\n<p align=\"justify\">\u201cWe\u2019re thrilled to add Scott and Amar as new directors. Given Scott\u2019s enhanced role with Timbercreek as CIO, we look forward to his direct involvement with the Board. Amar\u2019s extensive experience in value-add real estate strategies make him an ideal addition and an excellent complement to the skill-sets of the existing directors,\u201d added Mr. Tamblyn. \u201cOn behalf of the Board, I would like to thank Ugo and Cam for their significant contributions to the success of Timbercreek Financial over many years. We look forward to collaborating with them as they continue to grow their direct real estate and public securities business under the Hazelview brand.\u201d\u00a0 <br \/><strong><u><br \/> Quarterly Conference Call<\/u><\/strong><\/p>\n<p align=\"justify\">Interested parties are invited to participate in a conference call with management on Monday, November 16, 2020 1:00 p.m. (EST) which will be followed by a question and answer period with analysts. To join the call:<\/p>\n<p align=\"justify\">\n        <u><br \/>\n          <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=3VYHmouGatxykpB7cRSj-0b4PwZRsQj8G5J1RIrBqMoLE7zBtgNcImgAS5AVZ9gULl1zLjLaMrdGYxIe5waRyj4wSELknBAwrKh_tS_E_I1gE5UN1Khw64pxR-5fPcHR9bSNFPK_CeSKoSFh33HLKhF1FzDLvf16rRkvdA84B180-N0g0NUSStpZ_vzLmPbB\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">https:\/\/timbercreekfinancial.adobeconnect.com\/tfq32020\/<\/a><br \/>\n        <\/u><br \/>\n        <br \/>Participant Toll Free Dial-In Number: (855) 223-7310<br \/>Participant International Dial-In Number: (647) 788-4930<br \/><strong>Conference ID Number:<\/strong> 4282428<\/p>\n<p align=\"justify\">The playback of the conference call will also be available on <u><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=QVX5J4AcTRBoRrZE5p2YROxXo6SzKYNW7Yw2rKEnB7fBLat-fHecLm5f6cOxB6nODTs8pyhfnS4qcOZftzqSjhx8H4oRBM1EFaWgQH1xrv04dxpe9XN4iYMNUcERgf_5\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.timbercreekfinancial.com<\/a><\/u>\u00a0following the call.<\/p>\n<p>\n        <strong>About the Company<\/strong>\n      <\/p>\n<p align=\"justify\">Timbercreek Financial is a leading non-bank, commercial real estate lender providing shorter-duration, structured financing solutions to commercial real estate professionals. Our sophisticated, service-oriented approach allows us to meet the needs of borrowers, including faster execution and more flexible terms that are not typically provided by Canadian financial institutions. By employing thorough underwriting, active management and strong governance, we are able to meet these needs while generating strong risk-adjusted yields for investors. Further information is available on our website, <u><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=QVX5J4AcTRBoRrZE5p2YROxXo6SzKYNW7Yw2rKEnB7dnm1Llzv6Zs3BnqJDd4G3qdefu845C1GA-I0ZdMjOVHzypbFevtNrnMdy-a29njFsC0mqDeuvE_h1PMqgSzKwK\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.timbercreekfinancial.com<\/a><\/u>.<\/p>\n<p>\n        <strong>Non-IFRS Measures<\/strong>\n      <\/p>\n<p align=\"justify\">The Company prepares and releases financial statements in accordance with IFRS. As a complement to results provided in accordance with IFRS, the Company discloses certain financial measures not recognized under IFRS and that do not have standard meanings prescribed by IFRS (collectively the \u201cnon-IFRS measures\u201d). These non-IFRS measures are further described in Management&#8217;s Discussion and Analysis (&#8220;MD&amp;A&#8221;) available on SEDAR. The Company has presented such non-IFRS measures because the Manager believes they are relevant measures of the Company\u2019s ability to earn and distribute cash dividends to shareholders and to evaluate its performance. The following non-IFRS financial measures should not be construed as alternatives to total net income and comprehensive income or cash flows from operating activities as determined in accordance with IFRS as indicators of the Company\u2019s performance.<\/p>\n<p align=\"justify\">Certain statements contained in this news release may contain projections and &#8220;forward looking statements&#8221; within the meaning of that phrase under Canadian securities laws. When used in this news release, the words &#8220;may&#8221;, &#8220;would&#8221;, &#8220;should&#8221;, &#8220;could&#8221;, &#8220;will&#8221;, &#8220;intend&#8221;, &#8220;plan&#8221;, &#8220;anticipate&#8221;, &#8220;believe&#8221;, &#8220;estimate&#8221;, &#8220;expect&#8221;, &#8220;objective&#8221; and similar expressions may be used to identify forward looking statements. By their nature, forward looking statements reflect the Company&#8217;s current views, beliefs, assumptions and intentions and are subject to certain risks and uncertainties, known and unknown, including, without limitation, those risks disclosed in the Company&#8217;s public filings. Many factors could cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by these forward looking statements. The Company does not intend to nor assumes any obligation to update these forward looking statements whether as a result of new information, plans, events or otherwise, unless required by law.<\/p>\n<p align=\"justify\">SOURCE: Timbercreek Financial<\/p>\n<p align=\"justify\">For further information, please contact:<br \/>Timbercreek Financial<\/p>\n<p>Blair Tamblyn<br \/> Chief Executive Officer<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=azw7Lz7vGhqr8iQ4yz6V694qVjc9VPXaNGLuBRZs_u6jaIsWhTYL_P2GObJpZ1GeAUy6mCJ8m1DV9rJJ5dR7HiLokCLxX9g2vZXi99DTj-E=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">btamblyn@timbercreek.com<\/a><\/p>\n<p>Tracy Johnston<br \/>Chief Financial Officer<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=OhhWDVouwVmY9_kC7OWN03kLq02kmKjhtFnKeiMueGcY305I0VFt2eOQNWMp_JMvo1LsusbDUB8U6z95sPHmDlh6i53UoWCok2wt37ZTXS0=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">tjohnston@timbercreek.com<\/a><\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4NTc3MyMzODI2MzI0IzIwOTkyMTM=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/2ec11bad-4162-499f-83a9-d73ae37ee9f6\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Company also announces changes to Board of Directors TORONTO, Nov. 13, 2020 (GLOBE NEWSWIRE) &#8212; Timbercreek Financial (TSX: TF) (the \u201cCompany\u201d) announced today its financial results for the three months and nine months ended September\u00a030, 2020 (\u201cQ3 2020\u201d). Q3 2020 Highlights Portfolio continues to perform well through the COVID-19 pandemic with no material increase in delinquencies\u00a0 Generated $0.18 in distributable income per share and $0.17 adjusted net income per share as well as delivered a 98.3% distributable income payout ratio and a 102.5% adjusted net income payout ratio.\u00a0 Funded $89.4M on new and existing mortgages versus repayments of $145.8M.\u00a0 This resulted in a reduction of net mortgage investments to $1,153.2M in Q3 2020.\u00a0 The increase in repayments resulted in a &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/timbercreek-financial-announces-2020-third-quarter-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Timbercreek Financial Announces 2020 Third Quarter Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-380693","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Timbercreek Financial Announces 2020 Third Quarter Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/timbercreek-financial-announces-2020-third-quarter-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Timbercreek Financial Announces 2020 Third Quarter Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Company also announces changes to Board of Directors TORONTO, Nov. 13, 2020 (GLOBE NEWSWIRE) &#8212; Timbercreek Financial (TSX: TF) (the \u201cCompany\u201d) announced today its financial results for the three months and nine months ended September\u00a030, 2020 (\u201cQ3 2020\u201d). Q3 2020 Highlights Portfolio continues to perform well through the COVID-19 pandemic with no material increase in delinquencies\u00a0 Generated $0.18 in distributable income per share and $0.17 adjusted net income per share as well as delivered a 98.3% distributable income payout ratio and a 102.5% adjusted net income payout ratio.\u00a0 Funded $89.4M on new and existing mortgages versus repayments of $145.8M.\u00a0 This resulted in a reduction of net mortgage investments to $1,153.2M in Q3 2020.\u00a0 The increase in repayments resulted in a &hellip; Continue reading &quot;Timbercreek Financial Announces 2020 Third Quarter Results&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/timbercreek-financial-announces-2020-third-quarter-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-13T12:08:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4NTc3MyMzODI2MzI0IzIwOTkyMTM=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/timbercreek-financial-announces-2020-third-quarter-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/timbercreek-financial-announces-2020-third-quarter-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Timbercreek Financial Announces 2020 Third Quarter Results\",\"datePublished\":\"2020-11-13T12:08:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/timbercreek-financial-announces-2020-third-quarter-results\\\/\"},\"wordCount\":1319,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/timbercreek-financial-announces-2020-third-quarter-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODA4NTc3MyMzODI2MzI0IzIwOTkyMTM=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/timbercreek-financial-announces-2020-third-quarter-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/timbercreek-financial-announces-2020-third-quarter-results\\\/\",\"name\":\"Timbercreek Financial Announces 2020 Third Quarter Results - 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