Company: ADAMM
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001273685-25-000072
Chunk: 150

Company: ADAMAS TRUST, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 150
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 maturity of 8 months as of December 31, 2024.

(2)Costs related to the repurchase agreements which include commitment, underwriting, legal, accounting and other fees are reflected as deferred charges. Such costs are presented as a deduction from the corresponding debt liability on the Company’s accompanying condensed consolidated balance sheets and are amortized as an adjustment to interest expense over the term of the agreement using the effective interest method, or straight line-method, if the result is not materially different.

(3)Includes residential loans and real estate owned with an aggregate carrying value of $297.7 million and single-family rental properties with a net carrying value of $129.9 million as of June 30, 2025. Includes residential loans and real estate owned with an aggregate fair value of $524.6 million and single-family rental properties with a net carrying value of $134.6 million as of December 31, 2024.

(4)The Company expects to roll outstanding amounts under these repurchase agreements into new repurchase agreements or other financings, or to repay outstanding amounts, prior to or at maturity.

The following table details the quarterly average balance, ending balance and maximum balance at any month-end during each quarter in 2025, 2024 and 2023 for our repurchase agreements secured by residential loans and single-family rental properties (dollar amounts in thousands):

Quarter EndedQuarterly AverageBalanceEnd of QuarterBalanceMaximum Balanceat any Month-EndJune 30, 2025$310,977 $305,440 $329,477 March 31, 2025491,455 357,483 561,854 December 31, 2024386,047 496,410 496,410 September 30, 2024656,976 566,621 812,828 June 30, 2024521,269 505,542 576,119 March 31, 2024437,826 456,038 456,038 December 31, 2023559,118 611,055 611,055 September 30, 2023469,393 505,477 505,477 June 30, 2023524,264 481,947 579,475 March 31, 2023579,271 562,371 609,885 

120

Collateralized Debt Obligations

Included in our portfolio