Company: ADAMM
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001273685-25-000028
Chunk: 88

Company: ADAMAS TRUST, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 16
Chunk 88
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 million as of December 31, 2024 and 2023, respectively, is included in other assets on the Company's consolidated balance sheets.For the years ended December 31, 2024, 2023 and 2022, the Company recognized $88.8 million in net unrealized losses, $36.3 million in net unrealized gains and $22.6 million in net unrealized losses on investment securities available for sale accounted for under the fair value option, respectively. The Company's investment securities available for sale pledged as collateral against interest rate swap agreements and repurchase agreements are included in investment securities available for sale on the accompanying consolidated balance sheets with the fair value of securities pledged disclosed in Notes 10 and 13, respectively.

F-27

Realized Gain and Loss ActivityThe following tables summarize our investment securities sold during the years ended December 31, 2024, 2023 and 2022, respectively (dollar amounts in thousands): Year Ended December 31, 2024Sales ProceedsRealized GainsRealized LossesNet Realized Gains (Losses)Non-Agency RMBS$5,284 $21 $— $21 Total$5,284 $21 $— $21 Year Ended December 31, 2023Sales Proceeds Realized GainsRealized LossesNet Realized Gains (Losses)ABS$595 $— $(41)$(41)CMBS30,419 — (1,387)(1,387)Non-Agency RMBS33,676 1,472 (12,644)(11,172)Total $64,690 $1,472 $(14,072)$(12,600)Year Ended December 31, 2022Sales Proceeds Realized GainsRealized LossesNet Realized Gains (Losses)Non-Agency RMBS$24,374 $374 $— $374 ABS36,215 18,001 — 18,001 U.S. Treasury Securities24,848 — (31)(31)Total $85,437 $18,375 $(31)$18,344 The Company recognized write-downs of fair value option non-Agency RMBS for a loss of $1.2 million and $1.7 million for the years ended December 31, 2024 and 2023, respectively.