Company: MFAN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001055160-25-000018
Chunk: 174

Company: MFA FINANCIAL, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 174
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$18,709 Operating and Other Expense:Compensation and benefits$18,185 $19,308 $(1,123)Other general and administrative expense10,769 10,621 148 Loan servicing, financing and other related costs10,216 8,584 1,632 Amortization of intangible assets300 800 (500)Operating and Other Expense$39,470 $39,313 $157 Income/(loss) before income taxes$48,003 $33,422 $14,581 Provision for/(benefit from) income taxes(101)238 (339)Net Income/(Loss)$48,104 $33,184 $14,920 Less Preferred Stock Dividend Requirement$10,834 $10,560 $274 Net Income/(Loss) Available to Common Stock and Participating Securities$37,270 $22,624 $14,646 Basic Earnings/(Loss) per Common Share$0.36 $0.22 $0.14 Diluted Earnings/(Loss) per Common Share$0.35 $0.21 $0.14 

67  

General

For the third quarter of 2025, we had net income available to our common stock and participating securities of $37.3 million, or $0.36 per basic common share and $0.35 per diluted common share, compared to net income available to common stock and participating securities of $22.6 million, or $0.22 per basic common share and $0.21 per diluted common share, for the second quarter of 2025. The increase in net income available to common stock and participating securities in the current period compared to the prior period primarily reflects an $18.7 million increase to Other income/(loss), net, partially offset by a $4.5 million decrease to net interest income.

Net Interest Income

Net interest income represents the difference between income on interest-earning assets and expense on interest-bearing liabilities.  Net interest income depends primarily upon the volume of interest-earning assets and interest-bearing liabilities and the corresponding interest rates earned or paid.  Our net interest income varies primarily as a result of changes in interest rates, the slope of the yield curve (i.e., the differential between long-term and short-term interest rates), borrowing costs (i.e., our interest expense), the level of loan delinquencies, which may result