Ladder Capital delivered robust commercial loan growth, with a 60% Y/Y increase to $2.6B, its fastest growth in four years. LADR's dividend coverage ratio improved to 96% in Q1'26, supported by distributable earnings of $0.22 per share (+10% Y/Y). Asset quality remained strong, with no new CECL reserve additions and no credit losses, reinforcing confidence in LADR's loan portfolio.