Company: ADAMM
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001273685-25-000088
Chunk: 154

Company: ADAMAS TRUST, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 154
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 Adjusted for:Consolidated SLST CDO interest expense— (11,199)— — (11,199)— (7,375)— — (7,375)TBA dollar roll income66 — — — 66 — — — — — Adjusted interest income$86,041 $59,305 $2,124 $2,030 $149,500 $43,260 $53,976 $2,699 $1,051 $100,986 GAAP interest expense$(60,472)$(53,080)$— $(10,495)$(124,047)$(35,116)$(47,641)$— $(5,367)$(88,124)Adjusted for:Consolidated SLST CDO interest expense— 11,199 — — 11,199 — 7,375 — — 7,375 Net interest benefit of interest rate swaps5,204 504 — 392 6,100 7,542 545 — 366 8,453 Adjusted interest expense$(55,268)$(41,377)$— $(10,103)$(106,748)$(27,574)$(39,721)$— $(5,001)$(72,296)Adjusted net interest income (loss) (1)$30,773 $17,928 $2,124 $(8,073)$42,752 $15,686 $14,255 $2,699 $(3,950)$28,690 

117

For the Nine Months Ended September 30,20252024AgencySingle-Family CreditMulti-Family CreditCorporate/OtherTotalAgencySingle-Family CreditMulti-Family CreditCorporate/OtherTotalGAAP interest income211,385 205,276 6,931 $7,675 $431,267 $111,652 162,252 $8,072 $1,051 $283,027 GAAP interest expense(147,403)(150,025)— (27,709)(325,137)(90,022)(125,048)— (10,813)(225,883)GAAP total net interest income (loss)$63,982 $55,251 $6,931 $(20,034)$106,130 $