Company: AOMN
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001766478-25-000042
Chunk: 87

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 2
Chunk 87
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 facilities863 62,631 975 69,254 Senior Unsecured Notes1,312 47,803 — — Total interest expense22,780 16,633 Net interest income$10,087 $8,579 

We generated $7.7 million greater interest income for the quarter ended March 31, 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 $6.2 million for the quarter ended March 31, 2025 compared to the comparable period for 2024, driven by increases in our total borrowings; however, this increase in interest expense was mitigated by lower average borrowing costs. Overall, the increase in our interest income outpaced the increase in interest expense and drove a 17.6%, or $1.5 million, increase in net interest income for the quarter ended March 31, 2025 than in the comparable period for 2024.

Total Realized and Unrealized Gains (Losses)

The components of total realized and unrealized gains (losses), net for the three months ended March 31, 2025 and 2024 are set forth as follows:

Three Months EndedMarch 31, 2025March 31, 2024(in thousands)Realized and unrealized gain (loss) on securitization, net of unrealized gain (loss) on non-recourse securitization obligation$14,546 $4,389 Realized gain (loss) on RMBS(319)(266)Realized and unrealized gain (loss) on Whole Pool Agency RMBS(2,190)(289)Realized and unrealized gain (loss) on CMBS(56)(45)Realized gain (loss) on interest rate futures(1,473)3,549 Realized and unrealized gain (loss) on TBAs2,056 547 Realized and unrealized gain (loss) on residential mortgage loans2,936 1,367 Realized and unrealized gain (loss) on commercial mortgage loans— 21 Realized and unrealized loss on U.S. Treasury securities(18)(86)Unrealized appreciation (depreciation) on interest rate futures(1,934)204 Realized gain/(loss) on AOMT MOA(105)(129)Total realized and unrealized gains (losses),