Company: ADAMM
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001273685-25-000072
Chunk: 78

Company: ADAMAS TRUST, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 78
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 Company's condensed consolidated statements of operations.(2)Presented in (loss) income from equity investments on the Company's condensed consolidated statements of operations.

63

The following table presents the carrying value and estimated fair value of the Company’s financial instruments at June 30, 2025 and December 31, 2024, respectively (dollar amounts in thousands):  June 30, 2025December 31, 2024 Fair ValueHierarchy LevelCarryingValueEstimatedFair ValueCarryingValueEstimatedFair ValueFinancial Assets:     Cash and cash equivalentsLevel 1$160,447 $160,447 $167,422 $167,422 Residential loansLevel 34,026,027 4,026,027 3,841,738 3,841,738 Investment securities available for saleLevel 25,109,601 5,109,601 3,828,544 3,828,544 Multi-family loansLevel 374,999 74,999 86,192 86,192 Equity investmentsLevel 391,440 91,440 113,492 113,492 Equity investments in disposal group held for saleLevel 3500 500 — — Derivative assetsLevel 2374 374 56 56 Derivative assets in disposal group held for saleLevel 258 58 67 67 Mortgage servicing rightsLevel 319,449 19,449 21,003 21,003 Financial Liabilities:     Repurchase agreementsLevel 24,907,436 4,907,436 4,012,225 4,012,225 Collateralized debt obligations:Residential loan securitizations at amortized cost, netLevel 3738,121 722,483 842,764 818,482 Residential loan securitizations at fair valueLevel 21,526,481 1,526,481 1,253,332 1,253,332 Consolidated SLSTLevel 31,031,897 1,031,897 811,591 811,591 Non-Agency RMBS re-securitizationLevel 268,101 68,101 70,757 70,757 Subordinated debenturesLevel 345,000 37,818 45,000 38,918 Senior unsecured notes:Senior un