Company: MFAN
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001055160-25-000007
Chunk: 22

Company: MFA FINANCIAL, INC.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 2
Chunk 22
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Decrease) due toTotal Net Change in Interest Income/Expense(In Thousands)VolumeRateInterest-earning assets:   Residential whole loans$(4,130)$2,672 $(1,458)Securities, at fair value4,858 66 4,924 Cash and cash equivalents(467)(503)(970)Other interest earning assets(108)(211)(319)Total net change in income from interest-earning assets$153 $2,024 $2,177 Interest-bearing liabilities:  Securitized debt2,319 707 3,026 Residential whole loan financing agreements$(6,547)$(2,320)$(8,867)Securities, at fair value repurchase agreements2,905 (1,420)1,485 REO financing agreements(178)(31)(209)Convertible Senior Notes— — — 8.875% Senior Notes4 — 4 9.00% Senior Notes3 — 3 Total net change in expense of interest-bearing liabilities$(1,494)$(3,064)$(4,558)Net change in net interest income$1,647 $5,088 $6,735 

The following table presents certain quarterly information regarding our net interest spread and net interest margin for the quarterly periods presented:

 Total Interest-Earning Assets and Interest-Bearing LiabilitiesQuarter EndedNet Interest Spread (1)Net Interest Margin (2)March 31, 20251.84 %2.63 %December 31, 20241.99 2.76 September 30, 20242.18 3.00 June 30, 20242.16 3.01 March 31, 20242.06 2.88 

(1)Reflects the difference between the yield on average interest-earning assets and average cost of funds (including net swap income or expense).

(2)Reflects annualized net interest income (including net swap income or expense) divided by average interest-earning assets.

66  

The following table presents the components of the net interest spread earned on our Residential whole loans for the quarterly periods presented:

 Quarter EndedMarch 31, 2025December 31, 2024September 30, 2024June 30, 2024March 31, 2024Business Purpose Loans