Company: MITN
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001514281-25-000086
Chunk: 125

Company: AG Mortgage Investment Trust, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 125
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 a reduction in fair value of $11.4 million and $35.0 thousand to its interest rate swap assets and liabilities, respectively, related to variation margin with a corresponding increase or decrease in restricted cash, net of collateral posted by the Company's derivative counterparties.

27

AG Mortgage Investment Trust Inc. and SubsidiariesNotes to Consolidated Financial Statements (Unaudited)June 30, 2025

(3)As of June 30, 2025, the Company's pay fix/receive float interest rate swaps had a weighted average pay-fixed rate of 3.34%, a weighted average receive-variable rate of 4.45%, and a weighted average years to maturity of 5.28 years. As of December 31, 2024, the Company's pay fix/receive float interest rate swaps had a weighted average pay-fixed rate of 3.48%, a weighted average receive-variable rate of 4.49%, and a weighted average years to maturity of 4.86 years. Derivative and other instruments eligible for offset are presented gross on the consolidated balance sheets as of June 30, 2025 and December 31, 2024, if applicable. The Company has not offset or netted any derivatives or other instruments with any financial instruments or cash collateral posted or received.  The Company must post cash or securities as collateral on its derivative instruments when their fair value declines. This typically occurs when prevailing market rates change adversely, with the severity of the change also dependent on the term of the derivatives involved. The posting of collateral is generally bilateral, meaning that if the fair value of the Company’s derivatives increases, its counterparty must post collateral. As of June 30, 2025, the Company's restricted cash balance included $9.2 million of collateral related to certain derivatives, of which $5.4 million represents cash collateral posted by the Company and $3.8 million represents amounts related to variation margin. As of December 31, 2024, the Company's restricted cash balance included $9.3 million of collateral related to certain derivatives, of which $0.7 million represents cash collateral posted by the Company and $8.6 million represents amounts related to variation margin.The following table summarizes total income related to derivatives and other instruments for the three and six months ended June 30, 2025 and 2024 (in thousands).Three Months EndedSix Months EndedJune 30, 2025June 30