Company: CIMO
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023813
Chunk: 171

Company: CHIMERA INVESTMENT CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 2
Chunk 171
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 ended March 31, 2025, we had unrealized gains on financial instruments at fair value of $129 million, net interest income of $69 million, and investment and asset management fees of $9 million, offset in part by operating expenses of $34 million and preferred stock dividend of $21 million.

The increase in net income available to common shareholders for the quarter ended March 31, 2025, as compared to the quarter ended December 31, 2024, was primarily driven by an increase in unrealized gains on financial instruments at fair value of $310 million, and an increase in net interest income of $3 million, offset in part by an increase in net losses on derivatives of $8 million.

Quarter ended March 31, 2025 compared to the Quarter ended March 31, 2024

For the quarter ended March 31, 2025, our net income available to common shareholders was $146 million, or $1.79 per average basic common share, compared to a net income of $111 million, or $1.37 per average basic common share for the quarter ended March 31, 2024. The increase in net income available to common shareholders for the quarter ended March 31, 2025, as compared to the quarter ended March 31, 2024 was primarily driven by an increase in net unrealized gains on financial instruments at fair value of $52 million, and an increase in investment management and advisory fees of $9 million. This increase was offset in part by a decrease on net gains on derivatives of $13 million, an increase in transaction expense of  $6 million due to higher securitization activity, and an increase in compensation expense of $4 million, due to the Palisades Acquisition during the quarter ended March 31, 2025, as compared to the quarter ended March 31, 2024.

Interest Income 

Quarter ended March 31, 2025 compared to the Quarter ended December 31, 2024

Interest income decreased slightly by $1 million or 0.5%, to $191 million for the quarter ended March 31, 2025, as compared to $192 million for the quarter ended December 31, 2024. This slight decrease in our interest income during the quarter ended March 31, 2025 was primarily due to a slight decline in our average asset earning balances as compared to the quarter ended December 31, 2024.

Quarter ended March 31,