Company: MFAN
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001055160-25-000007
Chunk: 171

Company: MFA FINANCIAL, INC.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 171
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22,402 $2,110 Operating and Other Expense:Compensation and benefits$23,257 $25,468 $(2,211)Other general and administrative expense10,291 11,995 (1,704)Loan servicing, financing and other related costs7,252 7,042 210 Amortization of intangible assets800 800 — Operating and Other Expense$41,600 $45,305 $(3,705)Income/(loss) before income taxes$40,304 $24,262 $16,042 Provision for/(benefit from) income taxes(872)1,049 (1,921)Net Income/(Loss)$41,176 $23,213 $17,963 Less Preferred Stock Dividend Requirement$8,219 $8,219 $— Net Income/(Loss) Available to Common Stock and Participating Securities$32,957 $14,994 $17,963 Basic Earnings/(Loss) per Common Share$0.32 $0.14 $0.18 Diluted Earnings/(Loss) per Common Share$0.31 $0.14 $0.17 

70  

General

For the three months ended March 31, 2025, we had net income available to our common stock and participating securities of $33.0 million, or $0.32 per basic common share and $0.31 per diluted common share, compared to a net income available to our common stock and participating securities of $15.0 million, or $0.14 per basic and diluted common share, for the three months ended March 31, 2024. The net income available to common stock and participating securities in the current period primarily reflects higher net interest income of $9.7 million, lower Operating and Other Expenses of $3.7 million, an increase in Other Income/(Loss), net of $2.1 million, and a benefit from income taxes compared to a provision in the prior year period.

Net Interest Income

For the three months ended March 31, 2025, our net interest spread and margin were 1.84% and 2.63%, respectively, compared to a net interest spread and margin of 2.06% and 2.88%, respectively, for the three months ended March 31, 2024.  Our net interest income increased