Angel Oak Mortgage REIT, Inc. reported significant financial performance improvements for the first quarter of 2025, with net income allocable to common stockholders reaching $20.5 million, a 59.8% increase from $12.9 million in the same period of 2024. The company generated $32.9 million in interest income, up from $25.2 million year-over-year, while interest expenses also rose to $22.8 million from $16.6 million. This resulted in a net interest income of $10.1 million, reflecting a 17.6% increase compared to the previous year. The total comprehensive income for the quarter was $19.8 million, compared to $14.6 million in the prior year.
The company’s total assets increased to $2.68 billion as of March 31, 2025, up from $2.27 billion at the end of 2024. This growth was primarily driven by a substantial rise in residential mortgage loans, which surged to $439.5 million from $183.1 million. Additionally, the fair value of residential mortgage loans in securitization trusts slightly decreased to $1.67 billion from $1.70 billion. The company’s liabilities also increased significantly, totaling $2.43 billion, compared to $2.03 billion at the end of the previous fiscal year, largely due to increased notes payable and securities sold under agreements to repurchase.
Operationally, Angel Oak Mortgage REIT engaged in strategic activities, including the purchase of $259 million in newly originated non-qualified residential mortgage loans during the quarter. The weighted average coupon for these loans was 7.67%, with a loan-to-value ratio of 70% and an average credit score of 751. The company also completed a securitization transaction in April 2025, issuing approximately $284.3 million in bonds backed by residential mortgage loans, which helped repay outstanding debt and provided cash for new loan purchases.
The company’s employee headcount remained stable, and it continues to leverage its relationship with Angel Oak Mortgage Solutions LLC for sourcing high-quality non-QM loans. The strategic focus on acquiring newly originated loans is expected to enhance portfolio valuations and support future securitization efforts. Looking ahead, Angel Oak Mortgage REIT anticipates continued growth in its investment portfolio, driven by favorable market conditions and ongoing demand for non-QM loans, despite potential uncertainties arising from international trade disruptions and economic volatility.
About Angel Oak Mortgage REIT, Inc.
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