Company: AOMN
Filing Date: 2025-03-24
Form Type: 10-K
Source: 0001766478-25-000019
Chunk: 172

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-03-24
Form: 10-K
Item: Item 8
Chunk 172
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 December 31, 2024For the Year Ended December 31, 2023INTEREST INCOME, NETInterest income$110,427 $95,953 Interest expense73,502 67,052 NET INTEREST INCOME36,925 28,901 REALIZED AND UNREALIZED GAINS (LOSSES), NETNet realized gain (loss) on mortgage loans, derivative contracts, RMBS, and CMBS(9,228)(37,526)Net unrealized gain (loss) on mortgage loans, debt at fair value option (see Note 3), and derivative contracts23,761 63,489 TOTAL REALIZED AND UNREALIZED GAINS (LOSSES), NET14,533 25,963 EXPENSESOperating expenses6,004 7,474 Operating expenses incurred with affiliate1,845 2,105 Due diligence and transaction costs782 310 Stock compensation2,041 1,689 Securitization costs3,799 2,484 Management fee incurred with affiliate4,976 5,842 Total operating expenses19,447 19,904 INCOME BEFORE INCOME TAXES32,011 34,960 Income tax expense3,261 1,246 NET INCOME ALLOCABLE TO COMMON STOCKHOLDERS$28,750 $33,714 Other comprehensive income1,500 16,152 TOTAL COMPREHENSIVE INCOME $30,250 $49,866 Basic earnings per common share$1.18 $1.36 Diluted earnings per common share$1.17 $1.35 Weighted average number of common shares outstanding:Basic24,179,039 24,722,285Diluted24,396,851 24,941,758

The accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.90

Angel Oak Mortgage REIT, Inc. Consolidated Statements of Changes in Stockholders’ Equity(in thousands)

Common Stock at ParAdditional Paid-in CapitalAccumulated Other Comprehensive Income (Loss)Retained EarningsTotal Stockholders’ EquityStockholders’ equity as of December 31, 2022$249 $475,379 $(21,127)$(218,022)$236,479 Dividends paid on common stock (1) — — — (31,928)(31,928)Non-cash equity