Company: MFAN
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001055160-25-000004
Chunk: 417

Company: MFA FINANCIAL, INC.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 7
Chunk 417
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 average balances of our assets and liabilities and their related yields and costs for the years ended December 31, 2024 and 2023.  Average yields are derived by dividing interest income by the average amortized cost of the related assets, and average costs are derived by dividing interest expense by the average balance of the related liabilities, for the periods shown.  The yields and costs may include premium amortization and discount accretion which are considered adjustments to interest income or expense. 

 For the Year Ended December 31, 20242023Average BalanceInterestAverage Yield/CostAverage BalanceInterestAverage Yield/Cost(Dollars in Thousands)Assets:Interest-earning assets (1):Residential whole loans$9,404,477 $633,556 6.74 %$8,740,248 $537,883 6.15 % Securities, at fair value927,927 61,110 6.59 559,434 42,376 7.57 Cash and cash equivalents (2)540,408 22,241 4.12 465,481 16,311 3.50 Other interest-earning assets35,941 7,058 19.64 68,959 9,027 13.09 Total interest-earning assets10,908,753 723,965 6.64 9,834,122 605,597 6.16 Liabilities:Interest-bearing liabilities:Securitized debt (3)$5,220,172 $251,582 4.82 %$4,168,322 $166,919 4.00 %Collateralized financing agreements (4)3,490,693 248,444 7.00 3,389,774 246,598 7.18 Convertible Senior Notes80,985 5,540 6.84 224,768 15,601 6.94 8.875% Senior Notes107,914 10,603 9.83 — — — 9.00% Senior Notes51,121 5,065 9.91 — — — Total interest-bearing liabilities8,950,885 521,234 5.78 7,782,864 429,118 5.47 Net interest income/net interest rate spread (5)202,731 0.86