Company: ADAMM
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001273685-25-000047
Chunk: 287

Company: ADAMAS TRUST, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 8
Chunk 287
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,646,812 $3,886,897 $18,959 $(77,312)$3,828,544 Accrued interest receivable for investment securities available for sale in the amount of $21.8 million and $22.4 million as of March 31, 2025 and December 31, 2024, respectively, is included in other assets on the Company's condensed consolidated balance sheets.For the three months ended March 31, 2025 and 2024, the Company recognized $86.5 million in net unrealized gains and $33.2 million in net unrealized losses on investment securities available for sale, respectively.The Company's investment securities available for sale pledged as collateral against interest rate swap agreements and repurchase agreements are included in investment securities available for sale on the accompanying condensed consolidated balance sheets with the fair value of securities pledged disclosed in Notes 10 and 13, respectively.

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Realized Gain and Loss ActivityThe following table summarizes our investment securities sold during the three months ended March 31, 2025 (dollar amounts in thousands):Three Months Ended March 31, 2025Sales Proceeds Realized GainsRealized LossesNet Realized Gains (Losses)U.S. Treasury securities$658,763 $3,700 $(30,570)$(26,870)Non-Agency RMBS4,573 52 — 52 Total $663,336 $3,752 $(30,570)$(26,818)The Company did not sell investment securities during the three months ended March 31, 2024.The Company recognized write-downs of non-Agency RMBS for a loss of $0.4 million for the three months ended March 31, 2024.Weighted Average LifeActual maturities of our investment securities available for sale are generally shorter than stated contractual maturities (with contractual maturities up to 39 years), as they are affected by periodic payments and prepayments of principal on the underlying mortgages. As of March 31, 2025 and December 31, 2024, based on management’s estimates, the weighted average life of the Company’s investment securities available for sale portfolio was approximately 6.1 years and 7.4 years, respectively.The following table sets forth the weighted average lives of our investment securities available for sale as of March 31, 2025 and December 31, 2024, respectively (dollar