Company: ADAMM
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001273685-25-000088
Chunk: 105

Company: ADAMAS TRUST, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 105
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 dividends other than capital gain dividends and portions of REIT dividends designated as qualified dividend income) for individuals, trusts, and estates that was set to sunset for taxable years beginning after December 31, 2025. In addition, for taxable years beginning after December 31, 2024, the OBBBA restored the exclusion of deductions for depreciation, depletion and amortization in the calculation of a taxpayer’s “adjusted taxable income” for purposes of calculating the limitation on the taxpayer’s net interest expense deduction, which was previously in effect for taxable years beginning before January 1, 2022. 

80

22.      Net Interest IncomeThe following table details the components of the Company's interest income and interest expense for the three and nine months ended September 30, 2025 and 2024, respectively (dollar amounts in thousands):For the Three Months EndedSeptember 30,For the Nine Months EndedSeptember 30,2025202420252024Interest incomeInvestment securities available for sale$87,565 $44,431 $220,106 $112,785 Residential loansResidential loans9,036 16,237 27,694 39,723 Consolidated SLST14,306 11,002 36,936 28,284 Residential loans held in securitization trusts43,392 31,833 132,609 88,866 Total residential loans66,734 59,072 197,239 156,873 Residential loans held for sale2,149 — 2,149 — Multi-family loans2,090 2,646 6,846 7,957 Other2,095 2,212 4,928 5,412 Total interest income160,633 108,361 431,268 283,027 Interest expenseRepurchase agreements and warehouse facilities71,550 52,326 180,063 133,059 Collateralized debt obligationsConsolidated SLST11,199 7,375 26,592 19,928 Residential loan securitizations31,478 23,435 94,657 62,462 Non-Agency RMBS re-securitization1,239 906 3,794 906 Total collateralized debt obligations43,916 31,716 125,043 83,296 Senior unsecured notes7,615 3,001