Company: CIMO
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001409493-25-000028
Chunk: 186

Company: CHIMERA INVESTMENT CORP
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 8
Chunk 186
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 fair value of $37 million, operating expenses of $39 million, and preferred stock dividend of $21 million.

Nine months ended September 30, 2025 compared to the nine months ended September 30, 2024

For the nine months ended September 30, 2025, our net income available to common shareholders was $138 million, or $1.69 per average basic common share, compared to a net income of $259 million, or $3.20 per average basic common share for the nine months ended September 30, 2024. The decrease in net income available to common shareholders for the nine months ended September 30, 2025, as compared to the nine months ended September 30, 2024, was primarily driven by a decrease in net unrealized gains on financial instruments at fair value of $93 million, an increase on net losses on derivatives of $18 million, and increases to compensation and benefits of $15 million due to an increase in the overall employee headcount and additional compensation expense related to the Palisades Acquisition, and transaction expenses of $14 million related to a combination of the HomeXpress Acquisition and higher securitization activity. This was partially offset by an increase in investment management and advisory fees of $26 million. 

Interest Income 

Quarter ended September 30, 2025 compared to the quarter ended June 30, 2025

Interest income increased by approximately $8 million or 3.9%, to $209 million for the quarter ended September 30, 2025, as compared to $201 million for the quarter ended June 30, 2025. The increase in our interest income during the quarter ended September 30, 2025 was primarily driven by our Agency RMBS purchases as we continued to take advantage of relative value opportunities and increased our liquid security allocation. During the quarter ended September 30, 2025, the interest income on our Agency RMBS portfolio increased by $14 million as compared to the quarter ended June 30, 2025 driven by these purchases, which was partially offset by a decrease of $6 million on our Loans held for investment portfolio due to lower loan balances at the end of the current quarter.

Nine months ended September 30, 2025 compared to the nine months ended September 30, 2024

Interest income increased by $32 million, or 5.7%, to $601 million for the nine months ended September 30, 2025 as compared to $