Company: MFAN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001055160-25-000013
Chunk: 20

Company: MFA FINANCIAL, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 2
Chunk 20
---
 the related assets, and average costs are derived by dividing annualized interest expense by the average balance of the related liabilities, for the periods shown.  The yields and costs may include premium amortization and discount accretion which are considered adjustments to interest income or expense.

 Three Months Ended June 30, 2025Three Months Ended March 31, 2025 Average Balance InterestAverage Yield/CostAverage Balance InterestAverage Yield/Cost(Dollars in Thousands)  Assets:Interest-earning assets (1):Residential whole loans$9,030,301 $154,568 6.85 %$8,945,010 $151,310 6.77 %Securities, at fair value1,744,884 28,778 6.60 1,625,980 24,670 6.07 Cash and cash equivalents (2)527,071 4,470 3.39 496,435 4,127 3.33 Other interest-earning assets7,435 528 28.41 7,435 398 21.41 Total interest-earning assets11,309,691 188,344 6.66 11,074,860 180,505 6.52 Liabilities:Interest-bearing liabilities:Securitized debt (3)$5,906,258 $74,775 5.06 %$5,808,655 $72,985 5.03 %Collateralized financing agreements (4)3,429,344 47,748 5.51 3,217,776 45,446 5.65 8.875% Senior Notes111,521 2,742 9.83 111,333 2,737 9.83 9.00% Senior Notes72,542 1,803 9.94 72,429 1,800 9.94 Total interest-bearing liabilities9,519,665 127,068 5.32 9,210,193 122,968 5.34 Net interest income/net interest rate spread (5)61,276 1.34 57,537 1.18 Impact of net Swap carry (6)15,519 0.64 15,254 0.66 Net interest rate spread (including the impact of net Swap carry)$76,