Angel Oak Mortgage Inc., a real estate investment trust focused on investing in nonqualified mortgages, announced that it recorded net income of $21.1 million for the year ended December 31, 2021, and $3.1 million for the final quarter of last year, on net interest income of $49.1 million and $16.6 million, respectively.

The earnings performance of AOMR in 2021 represents a big bump from 2020, when REIT reported annual net income of only $736,000 on net interest income of $33.3 million. The company’s total assets over the period, propelled by loan purchases, also skyrocketed, from $509.7 million to $2.6 billion.

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