Company: AOMN
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001766478-25-000042
Chunk: 40

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 1
Chunk 40
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31, 2025 and 2024:

Three Months EndedMarch 31, 2025March 31, 2024(in thousands)INTEREST INCOME, NETInterest income$32,867 $25,212 Interest expense22,780 16,633 NET INTEREST INCOME$10,087 $8,579 REALIZED AND UNREALIZED GAINS (LOSSES), NETNet realized gain (loss) on mortgage loans, derivative contracts, RMBS, and CMBS$(3,182)$(1,422)Net unrealized gain (loss) on trading securities, mortgage loans, debt at fair value option, and derivative contracts16,625 10,684 TOTAL REALIZED AND UNREALIZED GAINS (LOSSES), NET$13,443 $9,262 EXPENSESOperating expenses$1,201 $2,048 Operating expenses incurred with affiliate416 515 Stock compensation237 630 Securitization costs— 174 Management fee incurred with affiliate1,145 1,313 Total operating expenses$2,999 $4,680 INCOME (LOSS) BEFORE INCOME TAXES$20,531 $13,161 Income tax expense— 287 NET INCOME (LOSS) ALLOCABLE TO COMMON STOCKHOLDERS$20,531 $12,874 Other comprehensive income (loss)(695)1,703 TOTAL COMPREHENSIVE INCOME (LOSS)$19,836 $14,577 

30

Net Interest Income

The following table sets forth the components of net interest income for the three months ended March 31, 2025 and 2024:

Three Months EndedMarch 31, 2025March 31, 2024(in thousands)Interest incomeInterest income / expenseAverage balanceInterest income / expenseAverage balanceResidential mortgage loans$5,281 $304,007 $6,432 $383,233 Residential mortgage loans in securitization trusts23,104 1,685,423 14,546 1,211,143 Commercial mortgage loans108 5,210 72 5,215 RMBS and Majority-Owned Affiliate3,651 145,289 3,103 178,444 CMBS269 5,752 418 6,571 U.S. Treasury securities38 4,167 224 17,224 Other interest