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HOME CAPITAL GROUP INC . HOME CAPITAL REPORTS SECOND QUARTER 2021 RESULTS Home Capital reports 118 % growth in net income per share Toronto , August 13 , 2021 - Home Capital Group Inc. ( " Home Capital " or " the Company " ) ( TSX : HCG ) today reported financial results for the three and six months ended June 30 , 2021. This press release should be read in conjunction with the Company's 2021 Second Quarter Report including Financial Statements and Management's Discussion and Analysis which are available on Home Capital's website at www.homecapital.com and on SEDAR at www.sedar.com . " I'm very pleased with the accomplishments of the team at Home Capital this quarter , " said Yousry Bissada , President and Chief Executive Officer . " We are creating value for shareholders with growth in originations , the expansion of our whole loan sale program , and the conclusion of another successful cross - border RMBS offering . " Net Income : $ 1.42 per share in Q2 2021 compared with $ 0.65 in Q2 2020 • • Net income of $ 72.8 million or $ 1.42 per share in Q2 2021 , an increase of 14.5 % from $ 1.24 per share in Q1 2021 and 118.5 % from $ 0.65 per share in Q2 2020 . Adjusted net income of $ 73.9 million or $ 1.44 per share in Q2 2021 , an increase of 14.3 % from $ 1.26 per share in Q1 2021 and 105.7 % from $ 0.70 per share in Q1 2020. Results are adjusted for items of note related to implementing our Ignite Program . Net interest margin of 2.61 % in Q2 2021 , compared with 2.61 % in Q1 2021 and 2.40 % in Q2 2020 . Non - interest expenses of $ 58.5 million , compared with $ 64.1 million in Q1 2021 and $ 66.9 million in Q2 2020 . Asset Growth : Mortgage originations increased by 42 % over Q2 2020 • Mortgage originations of $ 2.13 billion in Q2 2021 , compared with $ 1.60 billion in Q1 2021 and $ 1.50 billion in Q2 2020 . • • • Single - family mortgage originations of $ 1.84 billion in Q2 2021 , compared with $ 1.33 billion in Q1 2021 and $ 1.13 billion in Q2 2020 . Total loan portfolio of $ 17.16 billion at the end of Q2 2021 , a decrease of 0.7 % from the end of Q1 2021 and 0.3 % from the end of Q2 2020 . Loans under administration of $ 22.82 billion at the end of Q2 2021 , up 0.2 % from the end of Q1 2021 and down 0.3 % from the end of Q2 2020 . Funding : Deposits through our Oaken channel of $ 4.16 billion make up 30.9 % of total deposits • • Total deposits of $ 13.47 billion at the end of Q2 2021 , compared with $ 13.77 billion at the end of Q1 2021 and $ 14.01 billion at the end of Q2 2020 . Total Oaken deposits of $ 4.16 billion at the end of Q2 2021 , an increase of 2.5 % from the end of Q1 2021 and 13.3 % from the end of Q2 2020 . Oaken's share of total deposits was 30.9 % at the end of Q2 2021 , compared with 29.5 % at the end of Q1 2021 and 26.2 % at the end of Q2 2020 . Credit Quality : Release of credit provisions of 0.44 % of gross loans compared with 0.28 % in Q1 2021 • • Release of provision for credit losses ( " PCL " ) of $ 18.8 million in Q2 2021 compared with $ 12.1 million in Q1 2021 and a provision expense of $ 18.7 million in Q2 2020 . Allowance for credit losses of 0.23 % of gross loans , compared with 0.34 % at the end of Q1 2021 and 0.63 % at the end of Q2 2020 . Net recoveries were below one basis point in Q2 2021 , compared to net write - offs as a percentage of gross loans of 0.01 % in Q1 2021 and 0.02 % in Q2 2020 .