---
schema_version: "secwatch.filing_event.v1"
accession: "0001465740-26-000024"
form_type: "8-K"
ticker: "TWO"
cik: "0001465740"
company_name: "TWO HARBORS INVESTMENT CORP."
filed_at: "2026-04-28T23:59:59+00:00"
generated_at: "2026-05-15T02:50:21.627388+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Two Harbors Q1 2026: New merger with CrossCountry Mortgage at $11.30/share

## Summary
- Entered definitive merger with CCM at $11.30/share (up from $10.80), terminated prior UWM deal.
- Q1 comprehensive loss of $24.7M ($0.24/share), GAAP net income $19.5M ($0.18/share).
- Book value $10.57, declared $0.34 dividend, quarterly economic return on book value (2.0%).
- MSR portfolio $2.38B, weighted average gross coupon 3.54%, 60+ day delinquencies 0.81%.
- Transaction expected H2 2026; preferred stock redeemed at $25/share plus dividends.

## SEC filing metadata
- accession: 0001465740-26-000024
- form_type: 8-K
- ticker: TWO
- cik: 0001465740
- company_name: TWO HARBORS INVESTMENT CORP.
- filed_at: 2026-04-28T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1465740/000146574026000024/0001465740-26-000024-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1465740/000146574026000024/two-20260428.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001465740-26-000024
- JSON: https://secwatch.observer/filing/0001465740-26-000024.json
- Plain text: https://secwatch.observer/filing/0001465740-26-000024.txt

## Key facts
- Earnings Releases
  TWO HARBORS INVESTMENT CORP. reported the fiscal quarter ended March 31, 2026 results: net income $ 19,477, EPS $ 0.18.
  - Period: the fiscal quarter ended March 31, 2026
  - Net income: $ 19,477
  - EPS: $ 0.18
  - Result: reported results
  source text: age basic common share Annualized return on average common equity Earnings Per weighted average basic common share Annualized return on average common equity Comprehensive (Loss) Income $ (24,714) $ (0.24) (8.4) % $ 50,429 $ 0.48 17.2 % GAAP Net Income (Loss) $ 19,477 $ 0.18 6.6 % $ (1,325) $ (0.02) (0.5) % Earnings Available for Distribution (1) $ 35,756 $ 0.34 12.2 % $ 27,435 $ 0.26 9.4 % Operating Metrics Dividend per common share $ 0.34 $ 0.34 Annualized dividend yield (2) 11.9 % 13.0 % Book value per common share at period end $ 10.57 $ 11.13 Economic return on book value (3) (2.0) % 3.9 % Operating expenses, excluding non-cash LTIP amortization and merger-related costs (4) $ 39,391 $ 43,699 Operating expenses, excluding non-cash LTIP amortization and merger-related costs, as a percentage of average equity (4) 8.8 % 9.7 % _______________ (1) Earnings Available for Distribution, or E
  evidence_url: https://www.sec.gov/Archives/edgar/data/1465740/000146574026000024/0001465740-26-000024-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.