Company: MFAN
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001055160-25-000004
Chunk: 321

Company: MFA FINANCIAL, INC.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 4
Chunk 321
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 significantly from our GAAP net income.

Results of Operations

In this section, we discuss the results of our operations for the year ended December 31, 2024 compared to the year ended December 31, 2023.  For a discussion related to our results of operations for the year ended December 31, 2023 compared to the year ended December 31, 2022, please refer to Part II, Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the Year Ended December 31, 2023, which was filed with the SEC on February 22, 2024, and is available on the SEC’s website at www.sec.gov and on our website at www.mfafinancial.com.

Year Ended December 31, 2024 Compared to the Year Ended December 31, 2023 

The following table summarizes the changes in our results of operations for the year ended December 31, 2024 compared to the year ended December 31, 2023.

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Year Ended(In Thousands)December 31, 2024 December 31, 2023YoY ChangeInterest Income:Residential whole loans$633,556 $537,883 $95,673 Securities, at fair value61,110 42,376 18,734 Other interest-earning assets7,058 9,027 (1,969)Cash and cash equivalent investments22,241 16,311 5,930 Interest Income$723,965 $605,597 $118,368 Interest Expense:Asset-backed and other collateralized financing arrangements$500,026 $413,517 $86,509 Other interest expense21,208 15,601 5,607 Interest Expense$521,234 $429,118 $92,116 Net Interest Income$202,731 $176,479 $26,252 Reversal/(Provision) for Credit Losses on Residential Whole Loans$3,084 $8,853 $(5,769)Reversal/(Provision) for Credit Losses on Other Assets(1,135)— (1,135)Net Interest Income after Reversal/(Provision) for Credit Losses$204,680 $185,332 $19,348 Other Income/(Loss), net:Net gain/(