Company: AOMN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001766478-25-000099
Chunk: 47

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 1
Chunk 47
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,120 417 6,239 U.S. Treasury securities— — 65 6,000 Other interest income432 43,026 391 40,919 Total interest income$36,659 $27,444 Interest expenseNotes payable3,619 235,898 2,830 176,159 Non-recourse securitization obligation, collateralized by residential mortgage loans19,564 1,746,766 13,731 1,362,039 Repurchase facilities851 64,557 900 57,842 Senior Unsecured Notes2,445 88,705 963 40,538 Total interest expense$26,479 $18,424 Net interest income$10,180 $9,020 

We generated $9.2 million greater interest income for the quarter ended September 30, 2025 than in the comparable period for 2024, driven by increases in both the amount and yields of our target assets. Interest expense increased by $8.1 million for the quarter ended September 30, 2025 compared to the comparable period for 2024, driven by increases in our total borrowings and our 2030 Notes issuance. Overall, the increase in our interest income outpaced the increase in interest expense and drove a 12.9%, or $1.2 million, increase in net interest income for the quarter ended September 30, 2025 than in the comparable period of 2024.

Total Realized and Unrealized Gains (Losses)

The components of total realized and unrealized gains (losses), net for the three months ended September 30, 2025 and 2024 are set forth as follows:

Three Months EndedSeptember 30, 2025September 30, 2024(in thousands)Realized and unrealized gain (loss) on securitization, net of unrealized gain (loss) on non-recourse securitization obligation$2,729 $25,228 Realized gain (loss) on RMBS(1,487)(565)Unrealized gain (loss) on Whole Pool Agency RMBS(1,972)(2,138)Realized gain (loss) on CMBS(289)(67)Realized gain (loss) on interest rate futures(3,100)(4,461)Realized and unrealized gain (loss) on TBAs1,829 1