Company: AOMN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001766478-25-000099
Chunk: 105

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 2
Chunk 105
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30, 2025September 30, 2024(in thousands)Interest incomeInterest income / expenseAverage balanceInterest income / expenseAverage balanceResidential mortgage loans$14,243 $279,094 $13,925 $284,211 Residential mortgage loans in securitization trusts76,700 1,813,488 51,851 1,357,840 Commercial mortgage loans327 5,204 258 5,231 RMBS and Majority Owned Affiliate11,022 144,120 9,613 148,677 CMBS761 5,436 1,097 6,428 U.S. Treasury securities61 2,222 548 14,528 Other interest income1,506 46,177 1,266 39,239 Total interest income$104,620 $78,558 Interest expenseNotes payable$9,655 213,187 $9,928 199,644 Non-recourse securitization obligation, collateralized by residential mortgage loans56,261 1,688,158 37,624 1,285,118 Repurchase facilities2,869 62,830 2,980 64,431 Senior Unsecured Notes5,629 68,245 963 35,681 Total interest expense$74,414 $51,495 Net interest income$30,206 $27,063 

Net interest income for the nine months ended September 30, 2025 and 2024 was $30.2 million and $27.1 million, respectively. Net interest income increased in the nine months ended September 30, 2025 as compared to the same period in 2024, primarily due to higher interest income generated by increase balances in our residential mortgage loans in securitization trusts portfolio. Similarly, the increase in interest expense was also driven by the increased balance of our non-recourse securitization obligation, collateralized by residential mortgage loans portfolio during the nine months ended September 30, 2025. The net interest income associated with our residential mortgage loans in securitization trusts portfolio and non-recourse securitization obligation, collateralized by residential mortgage loans portfolio was $20.4 million in the nine months ended September 30, 2025 as compared to $14.2 million in the comparable period of 2024.

39

Total Realized and Unrealized