Company: ADAMM
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001273685-25-000028
Chunk: 255

Company: ADAMAS TRUST, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 255
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613 Average Interest Earning Assets (3)$3,692,131 $120,687 $1,264 $3,814,082 Average Interest Bearing Liabilities (4)$2,684,304 $— $197,986 $2,882,290 Yield on Average Interest Earning Assets (1) (5)5.97 %11.36 %4.91 %6.14 %Average Financing Cost (1) (6)(5.32)%— (6.46)%(5.40)%Net Interest Spread (1) (7)0.65 %11.36 %(1.55)%0.74 %

Year Ended December 31, 2022 

 Single-Family (8)Multi-FamilyCorporate/OtherTotalAdjusted Interest Income (1) (2)$213,770 $13,499 $5,974 $233,243 Adjusted Interest Expense (1)(94,664)(152)(9,458)(104,274)Adjusted Net Interest Income (Loss) (1)$119,106 $13,347 $(3,484)$128,969 Average Interest Earning Assets (3)$3,354,923 $135,769 $13,820 $3,504,512 Average Interest Bearing Liabilities (4)$2,333,020 $5,520 $150,194 $2,488,734 Yield on Average Interest Earning Assets (1) (5)6.37 %9.94 %43.23 %6.66 %Average Financing Cost (1) (6)(4.06)%(2.75)%(6.30)%(4.19)%Net Interest Spread (1) (7)2.31 %7.19 %36.93 %2.47 %

(1)Represents a non-GAAP financial measure. 

(2)Includes interest income earned on cash accounts held by the Company.

79

(3)Average Interest Earning Assets for the respective periods include residential loans, multi-family loans and investment securities and exclude all Consolidated SLST assets other than those securities owned by the Company. Average Interest Earning Assets is calculated based on the daily average amortized cost for the respective periods.

(4)Average Interest Bearing Liabilities for the respective periods include repurchase agreements, residential loan secur