Company: ADAMM
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001273685-25-000028
Chunk: 122

Company: ADAMAS TRUST, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 16
Chunk 122
---
 and total stockholders' equity as defined in the respective agreements. The Company is in compliance with such covenants as of December 31, 2024 and through the date of this Annual Report on Form 10-K.Investment SecuritiesThe Company has entered into repurchase agreements with financial institutions to finance certain investment securities available for sale, securities owned in Consolidated SLST and CDOs repurchased from our residential loan securitizations.  These repurchase agreements provide short-term financing that bear interest rates typically based on a spread to SOFR and are secured by the investment securities which they finance and additional collateral pledged, if any. As of December 31, 2024 and 2023, the Company had amounts outstanding under repurchase agreements with nine counterparties and seven counterparties, respectively.  

F-56

The following table presents detailed information about the amounts outstanding under the Company’s repurchase agreements secured by investment securities and associated assets pledged as collateral at December 31, 2024 and 2023, respectively (dollar amounts in thousands):December 31, 2024December 31, 2023Outstanding Repurchase AgreementsFair Value of Collateral Pledged (1)Amortized Cost of Collateral Pledged (1)Outstanding Repurchase AgreementsFair Value of Collateral PledgedAmortized Cost of Collateral PledgedAgency RMBS$2,830,925 $2,975,400 $2,995,820 $1,771,436 $1,894,052 $1,869,415 Non-Agency RMBS (2) (3)50,622 67,352 64,375 90,627 182,383 232,997 U.S. Treasury securities 635,064 633,833 669,447 — — — Balance at end of the period$3,516,611 $3,676,585 $3,729,642 $1,862,063 $2,076,435 $2,102,412 (1)Collateral pledged includes restricted cash posted as margin in the amount of $11.8 million.(2)Includes first loss subordinated securities in Consolidated SLST with a fair value of $20.6 million and $140.3 million as of December 31, 2024 and 2023, respectively. Consolidated SLST securities owned by the Company are eliminated in consolidation