Company: AOMN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001766478-25-000099
Chunk: 46

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 1
Chunk 46
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 2025 and 2024

The following table sets forth a summary of our results of operations for the three months ended September 30, 2025 and 2024:

Three Months EndedSeptember 30, 2025September 30, 2024(in thousands)INTEREST INCOME, NETInterest income$36,659 $27,444 Interest expense26,479 18,424 NET INTEREST INCOME$10,180 $9,020 REALIZED AND UNREALIZED GAINS (LOSSES), NETNet realized gain (loss) on mortgage loans, derivative contracts, RMBS, and CMBS$(6,557)$(6,335)Net unrealized gain (loss) on trading securities, mortgage loans, portion of debt at fair value option, and derivative contracts11,280 35,172 TOTAL REALIZED AND UNREALIZED GAINS (LOSSES), NET$4,723 $28,837 EXPENSESOperating expenses$1,117 $1,541 Operating expenses incurred with affiliate510 472 Stock compensation398 604 Management fee incurred with affiliate1,161 1,204 Total operating expenses$3,186 $3,821 INCOME (LOSS) BEFORE INCOME TAXES$11,717 $34,036 Income tax expense (benefit)307 2,832 NET INCOME (LOSS) ALLOCABLE TO COMMON STOCKHOLDERS$11,410 $31,204 Other comprehensive income (loss)3,665 2,706 TOTAL COMPREHENSIVE INCOME (LOSS)$15,075 $33,910 

35

Net Interest Income

The following table sets forth the components of net interest income for the three months ended September 30, 2025 and 2024:

Three Months EndedSeptember 30, 2025September 30, 2024(in thousands)Interest incomeInterest income / expenseAverage balanceInterest income / expenseAverage balanceResidential mortgage loans$5,693 $318,069 $4,659 $263,095 Residential mortgage loans in securitization trusts26,501 1,882,129 18,580 1,454,736 Commercial mortgage loans104 5,199 81 5,246 RMBS and Majority-Owned Affiliate3,692 139,447 3,251 117,965 CMBS237 5