Company: ADAMM
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001273685-25-000072
Chunk: 226

Company: ADAMAS TRUST, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 2
Chunk 226
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 $7,882,442 Average Interest Bearing Liabilities (4)$6,523,103 $— $608,026 $7,131,129 Yield on Average Interest Earning Assets (1) (5)6.50 %11.97 %4.14 %6.48 %Average Financing Cost (1) (6)(4.98)%— (5.97)%(5.06)%Net Interest Spread (1) (7)1.52 %11.97 %(1.83)%1.42 %

Six Months Ended June 30, 2024

 Single-Family (8)Multi-FamilyCorporate/OtherTotalAdjusted Interest Income (1) (2)$156,740 $5,373 $— $162,113 Adjusted Interest Expense (1)(101,812)— (6,772)(108,584)Adjusted Net Interest Income (Loss) (1)$54,928 $5,373 $(6,772)$53,529 Average Interest Earning Assets (3)$4,951,232 $95,877 $1,000 $5,048,109 Average Interest Bearing Liabilities (4)$4,063,891 $— $219,998 $4,283,889 Yield on Average Interest Earning Assets (1) (5)6.33 %11.21 %— 6.42 %Average Financing Cost (1) (6)(5.04)%— (6.19)%(5.10)%Net Interest Spread (1) (7)1.29 %11.21 %(6.19)%1.32 %

(1)Represents a non-GAAP financial measure. 

(2)Includes interest income earned on cash accounts held by the Company.

(3)Average Interest Earning Assets for the respective periods include residential loans, multi-family loans, investment securities and cost basis of outstanding TBAs and exclude all Consolidated SLST assets other than those securities owned by the Company. Average Interest Earning Assets is calculated based on the daily average amortized cost for the respective periods.

(4)Average Interest Bearing Liabilities for the respective periods include repurchase agreements, residential loan securitization and non-Agency RMBS re-securitization CDOs, senior unsecured notes and subordinated debentures and exclude Consolid