Company: ADAMM
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001273685-25-000047
Chunk: 0

Company: ADAMAS TRUST, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 0
---
Item 1.  Condensed Consolidated Financial Statements

The accompanying notes are an integral part of the condensed consolidated financial statements.3

Table of Contents

NEW YORK MORTGAGE TRUST, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(Dollar amounts in thousands, except share data)

March 31, 2025December 31, 2024(unaudited) ASSETS  Residential loans, at fair value$3,913,268 $3,841,738 Investment securities available for sale, at fair value4,646,812 3,828,544 Multi-family loans, at fair value87,222 86,192 Equity investments, at fair value93,999 113,492 Cash and cash equivalents177,072 167,422 Real estate, net617,305 623,407 Assets of disposal group held for sale113,406 118,613 Other assets354,971 437,874 Total Assets (1)$10,004,055 $9,217,282 LIABILITIES AND EQUITY  Liabilities:  Repurchase agreements$4,485,716 $4,012,225 Collateralized debt obligations ($2,429,141 at fair value and $757,673 at amortized cost, net as of March 31, 2025 and $2,135,680 at fair value and $842,764 at amortized cost, net as of December 31, 2024)3,186,814 2,978,444 Senior unsecured notes ($139,761 at fair value and $99,087 at amortized cost, net as of March 31, 2025 and $60,310 at fair value and $98,886 at amortized cost, net as of December 31, 2024)238,848 159,196 Subordinated debentures45,000 45,000 Mortgages payable on real estate, net 365,455 366,606 Liabilities of disposal group held for sale91,153 97,065 Other liabilities 172,757 147,612 Total liabilities (1)8,585,743 7,806,148 Commitments and Contingencies (See Note 16)Redeemable Non-Controlling Interest in Consolidated Variable Interest