Company: AOMN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001766478-25-000080
Chunk: 98

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 2
Chunk 98
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2025June 30, 2024(in thousands)Interest incomeInterest income / expenseAverage balanceInterest income / expenseAverage balanceResidential mortgage loans$3,268 $235,691 $2,834 $195,819 Residential mortgage loans in securitization trusts27,095 1,859,895 18,725 1,390,998 Commercial mortgage loans114 5,204 104 5,220 RMBS and Majority-Owned Affiliate3,679 148,866 3,260 145,858 CMBS256 5,482 262 6,539 U.S. Treasury securities23 2,500 260 20,000 Other interest income659 53,586 457 38,469 Total interest income$35,094 $25,902 Interest expenseNotes payable2,274 176,214 1,638 125,951 Non-recourse securitization obligation, collateralized by residential mortgage loans19,854 1,730,521 13,695 1,323,055 Repurchase facilities1,154 69,522 1,106 66,804 Senior Unsecured Notes1,872 68,223 — — Total interest expense$25,154 $16,439 Net interest income$9,940 $9,463 

We generated $9.2 million greater interest income for the quarter ended June 30, 2025 than in the comparable period for 2024, driven by increases in both the amount and yields of our target assets. Interest expense increased by $8.7 million for the quarter ended June 30, 2025 compared to the comparable period for 2024, driven by increases in our total borrowings and our 2029 Notes and 2030 Notes issuances, both of which occurred after the quarter ended June 30, 2024. Overall, the increase in our interest income outpaced the increase in interest expense and drove a 5.0%, or $0.5 million, increase in net interest income for the quarter ended June 30, 2025 than in the comparable period for 2024.

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Total Realized and Unrealized Gains (Losses)

The components of total realized and unrealized gains (losses), net for the three months ended June 30, 2025 and 2024 are set forth as follows: