Company: AOMN
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001766478-25-000042
Chunk: 86

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 2
Chunk 86
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 (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 income416 38,630 417 39,553 Total interest income32,867 25,212 Interest expenseNotes payable3,762 240,628 5,460 293,300 Non-recourse securitization obligation, collateralized by residential mortgage loans16,843 1,574,110 10,198 1,157,431 Repurchase