Company: AOMN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001766478-25-000080
Chunk: 49

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 1
Chunk 49
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 components of net interest income for the six months ended June 30, 2025 and 2024:

Six Months EndedJune 30, 2025June 30, 2024(in thousands)Interest incomeInterest income / expenseAverage balanceInterest income / expenseAverage balanceResidential mortgage loans$8,550 $245,619 $9,266 $278,316 Residential mortgage loans in securitization trusts50,199 1,787,012 33,271 1,315,336 Commercial mortgage loans222 5,207 176 5,219 RMBS and Majority Owned Affiliate7,330 147,356 6,363 161,912 CMBS524 5,597 681 6,556 U.S. Treasury securities61 3,333 483 18,587 Other interest income1,075 47,167 874 38,952 Total interest income$67,961 $51,114 Interest expenseNotes payable$6,034 186,700 $7,097 199,000 Non-recourse securitization obligation, collateralized by residential mortgage loans36,697 1,666,064 23,894 1,253,614 Repurchase facilities2,018 62,591 2,081 68,205 Senior Unsecured Notes3,185 59,462 — — Total interest expense$47,934 $33,072 Net interest income$20,027 $18,042 

Net interest income for the six months ended June 30, 2025 and 2024 was $20.0 million and $18.0 million, respectively. Net interest income increased in the six months ended June 30, 2025 as compared to the same period in 2024, primarily due to higher interest income generated by increase balances in our residential mortgage loans in securitization trusts portfolio. Similarly, the increase in interest expense was also driven by the increased balance of our non-recourse securitization obligation, collateralized by residential mortgage loans portfolio during the six months ended June 30, 2025. The net interest income associated with our residential mortgage loans in securitization trusts portfolio and non-recourse securitization obligation, collateralized by residential mortgage loans portfolio was $13.5 million in the six months ended June 30, 2025 as compared to $