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R FOR IMMEDIATE RELEASE ATRIUM MORTGAGE INVESTMENT CORPORATION ATRIUM MORTGAGE INVESTMENT CORPORATION ANNOUNCES THIRD QUARTER RESULTS TORONTO : October 28 , 2021 – Atrium Mortgage Investment Corporation ( TSX : AI , AI.DB.C , AI.DB.D , AI.DB.E ) today released its financial results for the three and nine month periods ended September 30 , 2021 . Highlights • Mortgage portfolio of $ 765.7 million , 2.7 % increase from December 31 , 2020 • High quality mortgage portfolio ○ 87.8 % of portfolio in first mortgages о 96.0 % of portfolio is less than 75 % loan to value • О average loan - to - value is 60.9 % Quarterly net income of $ 10.6 million , up 11.4 % from the third quarter of the prior year Quarterly basic and diluted earnings per share of $ 0.25 " We are very pleased with our Q3 and year to date results , and we are on track for a very successful year . We had one of our strongest quarters ever for loan originations at $ 118.6 million , with Ontario contributing 62 % of funded loans and BC contributing 38 % . The BC portfolio has grown significantly from $ 164 million at the beginning of the year , to $ 245 million today . The Ontario team has also been very productive , but there has been much more loan turnover in that province . Overall , the Atrium portfolio grew to a record $ 766 million by the end of the quarter . While we expect a higher level of repayments in Q4 , we do have a solid pipeline of new loans . The mortgage portfolio remains defensively positioned with a modest average loan to value of 60.9 % , and 96 % of the portfolio being conventional mortgages ( less than 75 % loan to value ) . " said Rob Goodall , CEO of Atrium . Conference call Interested parties are invited to participate in a conference call with management Friday , October 29 , 2021 at 4:00 p.m. ET to discuss the results . To participate or listen to the conference call live , please call 1 ( 888 ) 241-0551 or ( 647 ) 427-3415 , conference ID 9683557. For a replay of the conference call ( available until November 11 , 2021 ) please call 1 ( 855 ) 859-2056 , conference ID 9683557 . Results of operations For the three months ended September 30 , 2021 , Atrium reported assets of $ 774.4 million , up from $ 755.3 million at the end of 2020. Revenues were $ 15.9 million , an increase of 4.0 % from the third quarter of the prior year . Net income for the third quarter of 2021 was $ 10.6 million , an increase of 11.4 % from the third quarter of the prior year . Atrium's allowance for mortgage losses at September 30 , 2021 totaled $ 10.4 million , or 1.36 % of the mortgage portfolio . 1