Company: CIMO
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023813
Chunk: 104

Company: CHIMERA INVESTMENT CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 104
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 expect to also grow our Agency RMBS portfolio. In addition to supporting our regulatory compliance, we believe that a larger Agency RMBS portfolio will provide portfolio diversity, more stable dividends, and a source of liquidity for opportunistic asset and business acquisitions and provide protection in periods of high market volatility. We also intend to look at opportunities to acquire MSRs, which we believe will help hedge our loan portfolio, as well as provide a diverse source of income for our dividends. We continue to evaluate business acquisitions and their overall potential synergies and benefits in conjunction with, and relative to, new investment opportunities available in the open market and through organic growth. 

We declared a $0.37 dividend per common share in the first quarter of 2025. Our economic return (as measured by the change in book value per common share plus common stock dividend) was 9.20% for the first quarter of 2025.

51

Business Operations

Net Income (Loss) Summary

The table below presents our net income (loss) on a GAAP basis for the quarters ended March 31, 2025, December 31, 2024, and March 31, 2024.

Net Income (Loss)(dollars in thousands, except share and per share data)For the Quarters EndedMarch 31, 2025December 31, 2024March 31, 2024QoQ ChangeYoY ChangeNet interest income:Interest income (1)$190,616 $192,364 $186,574 $(1,748)$4,042 Interest expense (2)121,397 126,540 121,468 (5,143)(71)Net interest income69,219 65,824 65,106 3,395 4,113 Increase (decrease) in provision for credit losses3,387 4,448 1,347 (1,061)2,040 Other income (losses): Net unrealized gains (losses) on derivatives(6,469)276 5,189 (6,745)(11,658)Realized gains (losses) on derivatives82 641 — (559)82 Periodic interest on derivatives, net4,135 4,542 5,476 (407)(1,341)Net gains (losses) on derivatives(2,252)5,459 10,665 (7,711)(12,917