Chicago Atlantic Capital Reports Q3 2026 Earnings with Increased Net Interest Income
Chicago Atlantic Capital (REFI) reported its third-quarter 2026 financial results, highlighted by an 18% quarter-over-quarter increase in adjusted net interest income to $15.1 million. This growth was primarily driven by increased capital deployments and the impact of the Koach transaction. Distributable earnings reached $0.49 per diluted share, benefiting from $2.6 million in interest and fee income related to the Koach notes. Despite the revenue growth, the company noted a decrease in portfolio yield to 14.8% due to the lower-yielding nature of the Koach notes. Management also signaled a potential slowdown in originations for the fourth quarter of 2026 as liquidity is largely extended. While non-accruals improved to 3.1%, leadership acknowledged structural constraints inherent in the cannabis-focused mortgage REIT model, including limited scale and challenges accessing institutional debt capital.
Tickers: $REFI
Topics: distributable earnings interest rate sensitivity loan portfolio performance net interest income