Company: MFAN
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001055160-25-000004
Chunk: 419

Company: MFA FINANCIAL, INC.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 7
Chunk 419
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); and (iii) the net change.  The changes attributable to the combined impact of volume and rate have been allocated proportionately, based on absolute values, to the changes due to rate and volume.  

Year Ended December 31, 2024Compared to Year Ended December 31, 2023 Increase/(Decrease) due toTotal Net Change in Interest Income/Expense(In Thousands)VolumeRateInterest-earning assets:Residential whole loans$42,289 $53,384 $95,673 Securities, at fair value25,054 (6,320)18,734 Cash and cash equivalents2,823 3,107 5,930 Other interest-earning assets(5,381)3,412 (1,969)Total net change in income from interest-earning assets$64,785 $53,583 $118,368 Interest-bearing liabilities:Securitized debt$46,714 $37,949 $84,663 Residential whole loan financing agreements(18,090)1,800 (16,290)Securities, at fair value repurchase agreements19,161 (1,367)17,794 REO financing agreements260 82 342 Convertible Senior Notes(10,061)— (10,061)8.875% Senior Notes10,603 — 10,603 9.00% Senior Notes5,065 — 5,065 Total net change in expense of interest-bearing liabilities$53,652 $38,464 $92,116 Net change in net interest income$11,133 $15,119 $26,252 

The following table presents certain quarterly information regarding our net interest spread and net interest margin for the quarterly periods presented:  

 Total Interest-Earning Assets and Interest-Bearing Liabilities Quarter EndedNet Interest Spread (1)Net Interest Margin (2)December 31, 20241.99 %2.76 %September 30, 20242.18 3.00 June 30, 20242.16 3.01 March 31, 20242.06 2.88 December 31, 20232.13 2.96 September 30, 20232.17 3.02 June 30,