JMP Group Inc. closed a $343.8 million collateralized loan obligation transaction. The senior notes offered in this transaction will be issued by JMP Credit Advisors CLO II Ltd., and will be backed primarily by a diversified portfolio of broadly syndicated leveraged loans. The Secured Notes are subject to a two and a half-year non-call period. The CLO has a three and a half-year reinvestment period, through October 30, 2016, that allows for the use of the proceeds from any principal repayments on, or any sales of, collateral assets towards the purchase of qualifying replacement assets, subject to certain conditions and limitations.

JMP Group Inc. announced unaudited consolidated financial results for the first quarter ended March 31, 2013. For the quarter, the company reported total net revenues of $23,248,000 against $31,634,000 a year ago. Loss before income tax expense was $2,523,000 against income before income tax expense of $4,189,000 a year ago. Net loss attributable to the company was $1,719,000 or $0.08 per diluted share against net income attributable to the company of $376,000 or $0.02 per diluted share a year ago. Operating net income was $3,616,000 or $0.16 per share compared to $4,526,000 or $0.19 per share a year ago. Adjusted net revenues were $32,016,000 compared to $35,141,000 a year ago. Return on adjusted tangible equity was 12.3% against 16.7% a year ago. At March 31, 2013, the company’s tangible book value per share was $5.54, compared to $5.62 at December 31, 2012 and $5.52 at March 31, 2012. At March 31, 2013, the company’s adjusted tangible book value per share was $5.24 compared to $4.82 at March 31, 2012. The company contributed $0.05 to operating earnings, up from $0.04 for the prior quarter but down from $0.09 earned a year earlier when investment banking revenues were more than 25% higher.

JMP Group Inc.'s board of directors declared a cash dividend of $0.035 per share for the first quarter of 2013 to be paid on May 31, 2013 to common stockholders of record as of May 17, 2013.