Company: CIMO
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001628280-25-038345
Chunk: 19

Company: CHIMERA INVESTMENT CORP
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 2
Chunk 19
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 liabilities, decreased by 10 basis points to 2.1% for the six months ended June 30, 2025, as compared to 2.2% for the six months ended June 30, 2024. 

Our Average net interest-earning assets decreased by $142 million to $1.9 billion for the six months ended June 30, 2025, compared to $2.0 billion for the same period of 2024. Our net interest rate spread, which equals the yield on our average 

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interest-earning assets less the economic average cost of funds, decreased by 10 basis points for the six months ended June 30, 2025, as compared to the six months ended June 30, 2024.

Economic Interest Expense and the Cost of Funds

The borrowing rate at which we are able to finance our assets using secured financing agreements is typically correlated to SOFR and the term of the financing. The borrowing rate on the majority of our securitized debt is fixed and correlated to the term of the financing. The table below shows our average borrowed funds, Economic interest expense, average cost of funds (inclusive of periodic interest on swaps and Swap futures), average one-month SOFR, average three-month SOFR and average one-month SOFR relative to average three-month SOFR.

 Average Debt BalanceEconomic Interest ExpenseAverage Cost of FundsAverage One-Month SOFRAverage Three-Month SOFRAverage One-Month SOFR Relative to Average Three-Month SOFR (Ratios have been annualized, dollars in thousands)For the Quarter Ended June 30, 2025$11,501,566 $130,220 4.50 %4.32 %4.30 %0.02 %For the Quarter Ended March 31, 2025$10,769,436 $117,262 4.40 %4.31 %4.30 %0.01 %For the Quarter Ended December 31, 2024$10,880,840 $121,997 4.48 %4.59 %4.50 %0.09 %For the Quarter Ended September 30, 2024$10,904,969 $122,054 4.48 %5.29 %5.24 %0.05 %For the Quarter Ended June 30, 2024$10,