Q1 2024 Timbercreek Financial Corp Earnings Call Transcript
Good day, ladies and gentlemen. Welcome to Timbercreek Financial first-quarter earnings call. (Operator Instructions)
As a reminder, today's call is being recorded.
I would now like to turn the meeting over to Blair Tamblyn. Please go ahead.
Thank you, operator. Good afternoon, everyone. Thanks for joining us to discuss the first-quarter financial results. As usual, I'm joined today by Scott Rowland, CIO; Tracy Johnston, CFO, Geoff McTait, Head of Canadian Originations and Global Syndications.
During the first quarter, we were able to generate solid income levels and deliver on our monthly distribution while navigating a near-term reduction in the average mortgage portfolio.
As we discussed on our last earnings call, we were intentionally cautious through much of 2023. And the lower portfolio balance also reflects two quarters of significant repayments, including the repayment of the large convexity portfolio in early January
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