New York Mortgage Trust Reports Fourth Quarter and Full Year 2012 Results

New York Mortgage Trust Reports Fourth Quarter and Full Year 2012 Results

NEW YORK, March 5, 2013 (GLOBE NEWSWIRE) -- New York Mortgage Trust, Inc.
(Nasdaq:NYMT) ("NYMT" or the "Company") today reported results for the three
and twelve months ended December 31, 2012.

Summary of Fourth Quarter and Full Year 2012:

  *Net income attributable to common stockholders of $9.4 million for the
    quarter ended December 31, 2012, representing net income per weighted
    average share of $0.19, and net income attributable to common stockholders
    of $28.3 million for the year ended December 31, 2012, representing net
    income per weighted average share of $1.08.
    
  *TheCompany completedits fourth public stock offering receiving net
    proceeds of $104.1 million in October 2012, bringing total net proceeds
    received during the year to $231.6 million.
    
  *Completed the acquisition of $75.6 million of multi-family CMBS during the
    fourth quarter of 2012, resulting in the Company having a net investment
    of $194.5 million in multi-family CMBS, at fair value, at December 31,
    2012.
    
  *Completed the acquisition of $60.9 million of distressed residential
    mortgage loans during the fourth quarter of 2012.
    
  *Completed two secured structured financing transactions during the fourth
    quarter of 2012, resulting in $88.7 million in net proceeds.
    
  *Book value per common share of $6.50 at December 31, 2012, as compared to
    $6.12 per common share at December 31, 2011 and $6.52 at September 30,
    2012.
    
  *Fourth quarter 2012 portfolio net interest margin was 333 basis points.
    
  *Declared fourth quarter dividend of $0.27 per common share that was paid
    on January 25, 2013.

Company Overview

NYMT is an internally managed real estate investment trust, or REIT, which
invests in mortgage-related and financial assets. The Company currently
targets multi-family CMBS, Agency RMBS, including Agency fixed-rate RMBS,
Agency ARMs, and Agency IOs, and residential mortgage loans. RiverBanc, LLC,
The Midway Group, L.P. and Headlands Asset Management, LLC provide investment
management services to the Company with respect to certain of its targeted
asset classes. For a list of defined terms used from time to time in this
press release, see "Defined Terms" below.

Management Overview

Steven Mumma, NYMT's CEO and President, commented: "The Company finished the
year on a strong note, funding over $75.6 million in multi-family CMBS
securities and $60.9 million in residential distressed mortgage loans during
the fourth quarter of 2012, bringing our total investment in credit sensitive
assets to $255.0 million for the year. In addition, the Company raised total
net proceeds of $231.6 million in public equity offerings during 2012,
including $104.1 million in October 2012. The Company also completed three
structured financing transactions in 2012 of a significant portion of its
credit sensitive assets, resulting in total net proceeds for the Company of
$114.7 million.These financings provide longer term funding for certain
multi-family CMBS and distressed residential loans, thereby reducing liquidity
risk and, we believe, enhancing the overall return for invested capital. Our
increase in capital has resulted in a more diverse portfolio, access to better
financing terms as well as lowering our expense operating ratios by over 64%.

"We are pleased with our earnings for the fourth quarter given, the deployment
of a significant portion of the proceeds from the October 2012 equity offering
into credit sensitive assets over the course of the fourth quarter. For a
number of reasons, these credit sensitive assets tend to require a longer
diligence and settlement process than investments in Agency RMBS. However,
while the slower deployment of capital to these assets during the quarter may
have impacted fourth quarter results, we are confident that the allocation of
capital to these types of assets will produce longer-term benefits for our
portfolio and our returns.

"Management believes the Company's portfolio is well positioned heading into
2013 with a balanced investment strategy for both interest rate risk and
credit risk.The Company's current funding sources are also well balanced with
a combination of short term repurchase agreements that fund primarily our
Agency RMBS portfolio and our newly issued securitized debt.We will continue
to pursue credit sensitive assets and more traditional mortgage-related assets
that we believe, when combined with the appropriate mix and type of financing,
will deliver attractive risk adjusted returns and will complement our existing
portfolio."

Results from Operations

For the quarter ended December 31, 2012, the Company reported consolidated net
income attributable to common stockholders of $9.4 million, or $0.19 per
common share, as compared to consolidated net loss attributable to common
stockholders of $1.9 million, or $0.16 per common share, for the same period
in 2011. The increase is primarily due to an increase in net interest margin
of $6.0 million, an increase in realized gain on investment securities and
related hedges of $2.9 million, an increase in unrealized gain on multi-family
loans and debt held in securitization trusts of $1.7 million, a decrease in
general, administrative and other expense of $1.2 million, and a decrease in
impairment loss on investment securities of $0.3 million, partially offset by
an increase in unrealized loss on investment securities and related hedges of
$0.5 million, and a decrease in income from investments in limited partnership
and limited liability company of $0.5 million. The increase in net interest
margin of $6.0 million is primarily due to an increase of $977.3 million in
average interest earning assets at December 31, 2012 as compared to December
31, 2011, which was mainly driven by the Company's additional investments in
Agency RMBS and multi-family CMBS during 2012, achieved largely as a result of
cash proceeds received from public stock offerings during the year ended
December 31, 2012. The $2.9 million increase in realized gain on investment
securities and related hedges is primarily due to the performance of our
Agency IO portfolio, which had a $0.6 million realized gain for the quarter
ended December 31, 2012 as compared to a $2.3 million loss in the quarter
ended December 31, 2011. The decrease in general, administrative and other
expense of $1.2 million is primarily due to the decrease in management
contract termination fees of $2.2 million, substantially all of which was
recorded during the quarter ended December 31, 2011.

For the year ended December 31, 2012, the Company reported consolidated net
income attributable to common stockholders of $28.3 million, or $1.08 per
common share, as compared to consolidated net income attributable to common
stockholders of $4.8 million, or $0.46 per common share, for the year ended
December 31, 2011. The increase is primarily due to an increase in net
interest margin of $12.1 million, an increase in unrealized gain on
multi-family loans and debt held in securitization trusts of $6.7 million, a
decrease in unrealized loss on investment securities and related hedges of
$5.7 million, a decrease in provision for loan loss of $0.9 million, an
increase in realized gain on investment securities and related hedges of $0.5
million, partially offset by a decrease in income from investments in limited
partnership and limited liability company of $1.5 million, an increase in
general, administrative and other expenses of $0.9 million, and an increase in
income tax expense of $0.5 million. The increase in net interest margin of
$12.1 million is primarily due to an increase of $365.0 million in average
interest earning assets resulting from the deployment of proceeds totaling
$231.6 million from four public equity offerings completed in 2012. The
proceeds were mainly invested in Agency RMBS and multi-family CMBS during
2012. The $6.7 million unrealized gain related to our multi-family loans and
debt held in securitization trusts was due to improving market conditions
during the year ended December 31, 2012.There were no multi-family loans and
debt held in securitization trusts investments during the year ended December
31, 2011. The decline in net unrealized loss on investment securities and
related hedges was mainly related to an improved environment for our
investment portfolio, particularly our Agency IO portfolio, as compared to the
comparative 2011 periods. During the second half of 2011, a confluence of
factors, including uncertainty and concerns of systemic risk related to the
European sovereign debt crisis and a revamping of the rules for HARP II,
contributed to a significant widening of credit spreads and prepayment speed
concerns, which in turn, negatively impacted the pricing of our Agency IOs at
December 31, 2011. The general, administrative and other expense increase of
$0.9 million for the year ended December 31, 2012, as compared to the same
period in 2011, is primarily due to an increase in management fees, driven in
large part by the increase in assets managed by external managers and
increased profitability of our investments.

Book value per common share as of December 31, 2012 was $6.50, representing an
increase of $0.38 per common share from the Company's book value at December
31, 2011.

A reconciliation between (i) net income excluding the unrealized gains and
losses on investment securities and related hedges and multi-family loans and
debt held in securitizations trusts and (ii) GAAP net income (loss)
attributable to common stockholders for the year and three months ended
December 31, 2012, respectively, is presented below (dollar amounts in
thousands, except per share):

                                        For the            For the
                                        Year Ended         Three Months Ended
                                        December 31, 2012  December 31, 2012
                                        Amounts  Per Share Amounts  Per Share
                                                                 
Net Income (Loss) Attributable toCommon $ 28,279 $ 1.08    $ 9,390  $ 0.19
Stockholders – GAAP
Adjustments:                                                      
Unrealized net losses on investment      3,947    0.15      1,370    0.03
securities and related hedges
                                                                 
Unrealized net gains on multi-family
loans and debt held in securitization    (6,662)  (0.25)    (1,672)  (0.03)
trusts
                                                                 
Termination of management contract       40       0.00      --       --
                                                                 
Net income attributable to common
stockholders excluding unrealized gains  $ 25,604 $ 0.98    $ 9,088  $ 0.19
and losses
                                                                 

Portfolio Allocation

The following table sets forth our allocated equity by investment type at
December 31, 2012 (dollar amounts in thousands):

                                                                           
                                          Distressed  Residential           
             Agency            Multi-Family Residential Securitized           
             RMBS^(1) Agency   CMBS^(2)    Loans       Loans        Other^(3) Total
                        IOs
                                                                           
Carrying      $ 901,867 $ 99,372 $ 194,492    $ 60,459    $ 187,229    $ 41,800   $
value                                                                             1,485,219
Liabilities:                                                                
Callable^(4) (806,477) (74,707) --           --          --           (7,950)    (889,134)
Non callable --        --       (78,891)     (38,700)    (180,979)    (45,000)   (343,570)
Hedges        3,716     10,782   --           575         --           --         15,073
(Net)^(5)
Cash          --        25,797   --           --          --           31,777     57,574
Other         3,126     1,575    1,763        2,337       732          (12,689)   (3,156)
                                                                           
Net equity    $ 102,232 $ 62,819 $ 117,364    $ 24,671    $ 6,982      $ 7,938    $ 322,006
allocated

   
(1) Includes both Agency ARMs and Agency fixed rate RMBS.
    The Company determined it is the primary beneficiary of the Consolidated
(2) K-Series and has consolidated the Consolidated K-Series into the Company's
    financial statements.A reconciliation to the Company's financial
    statements as of December 31, 2012 follows:
                                                       
   Multi-Family loans held in securitization trusts, at $ 5,442,906
    fair value
   Multi-Family CDOs, at fair value                     (5,319,573)
   Net carrying value                                  123,333
   CMBS, at fair value (available for sale)            71,159
   Total CMBS, at fair value                           194,492
   Securitized debt                                    (78,891)
   Other                                               1,763
   Net Equity in Multi-Family CMBS                      $ 117,364
                                                       
    Other includes CLOs having a carrying value of $30.8 million, non-Agency
(3) RMBS and loans held for investment. Other callable liabilities include an
    $8.0 million repurchase agreement on our CLOs and other non-callable
    liabilities consist of $45.0 million in subordinated debentures.
(4) Includes repurchase agreements.
(5) Includes derivative assets, derivative liabilities, payable for securities
    purchased and restricted cash posted as margin.
   

Portfolio Asset Yields

The following table summarizes the Company's significant assets at December
31, 2012, classified by relevant categories (dollar amount in thousands):

                     Carrying Value    Coupons^(1)    Yield^(1)    CPR^(1)
Agency ARMs           $ 273,923         2.98%          1.75%        14.5%
Agency Fixed Rate     $ 627,944         2.96%          2.34%        1.9%
RMBS
Agency IOs            $ 99,372          5.94%          10.83%       21.8%
CMBS^(2)              $ 194,492         0.12%          11.94%       N/A
Distressed            $ 60,459          5.77%          9.58%        N/A
Residential Loans
Residential           $ 187,229         2.91%          2.81%        11.6%
Securitized Loans
CLOs                  $ 30,785          4.35%          40.59%       N/A
                                                                
(1) Coupons, yields and CPRs are based on fourth quarter 2012 weighted average
balances.Yields are calculated on amortized cost basis and do not reflect the
affects of leverage.
(2) CMBS carrying value, coupons and yield calculations are based on the
underlying CMBS that are actually owned by the Company and do not include the
other consolidated assets and liabilities of the Consolidated K-Series not
owned by the Company.

Additional Information

As of December 31, 2012, the Company funded a portion of its investment
portfolio with $889.1 million of repurchase agreement borrowings with an
average interest rate of 0.54%.In addition, as part of the hedging strategy
for its Agency IOs, the Company had a net long position of $244.8 million of
To-Be-Announced ("TBA") securities as of December 31, 2012.

The Company's portfolio net interest margin was 333 basis points for the
quarter ended December 31, 2012 as compared to net interest margin of 470
basis points for the quarter ended September 30, 2012. The decline was
primarily a result of the deployment of a significant portion of the proceeds
from public equity offerings in August and October 2012 into Agency RMBS.

Analysis of Changes in Book Value

The following table analyzes the changes in book value for the quarter and
year ended December 31, 2012, respectively (amounts in thousands, except per
share):

              Quarter Ended             Year Ended
              December 31, 2012         December 31, 2012
              Amount   Shares Per       Amount   Shares  Per
                               Share^(1)                  Share^(1)
Beginning      $        34,044 $ 6.52    $ 85,278 13,938  $ 6.12
Balance        222,014
Stock          104,249  15,531          232,462  35,637  
issuance, net
Balance after
share issuance 326,263  49,575 6.58      317,740  49,575  6.41
activity
Dividends      (13,383)       (0.27)    (30,809)        (0.62)
declared
Net change                                           
AOCI: ^ (2)
Hedges         179            0.00      (1,440)         (0.03)
RMBS           (3,640)        (0.07)    (327)           (0.01)
CMBS           3,000          0.06      3,766           0.08
CLOs           197            0.00      4,797           0.10
Net income
excluding
unrealized
gains and
losses on
investment
securities and 9,088          0.18      25,564          0.52
related hedges
and
multi-family
loans and debt
held in
securitization
trusts
Unrealized net
losses on
investment     (1,370)        (0.03)    (3,947)         (0.08)
securities and
related hedges
Unrealized net
gains on
multi-family
loans and debt 1,672          0.04      6,662           0.13
held in
securitization
trusts
Ending Balance $        49,575 $ 6.50    $        49,575 $ 6.50
               322,006                   322,006
                                                    
(1) Outstanding shares used to calculate book value per share for
the quarter and year ended periods are based on outstanding shares       
as of December 31, 2012 of 49,575,331.
(2) Accumulated other comprehensive income ("AOCI").                     

Conference Call

On Wednesday, March 6, 2013, at 9:00 a.m. Eastern Time, New York Mortgage
Trust's executive management is scheduled to host a conference call and audio
webcast to discuss the Company's financial results for the three and twelve
months ended December 31, 2012. The conference call dial-in number is (877)
312-8806. The replay will be available until Wednesday, March 13, 2013 and can
be accessed by dialing (855) 859-2056 and entering passcode 15739758. A live
audio webcast of the conference call can be accessed via the Internet, on a
listen-only basis, at the Company's website at http://www.nymtrust.com. Please
allow extra time, prior to the call, to visit the site and download the
necessary software to listen to the Internet broadcast.

Full year 2012 financial and operating data can be viewed on the Company's
Annual Report on Form 10-K, which is expected to be filed with the Securities
and Exchange Commission on or before March 15, 2013. A copy of the Form 10-K
will be posted at the Company's website as soon as reasonably practicable
following its filing with the Securities and Exchange Commission.

Defined Terms

The following defines certain of the commonly used terms in this press
release: "RMBS" refers to residential mortgage-backed securities comprised of
adjustable-rate, hybrid adjustable-rate, fixed-rate, interest only and inverse
interest only, and principal only securities; "Agency RMBS" refers to RMBS
representing interests in or obligations backed by pools of residential
mortgage loans issued or guaranteed by a federally chartered corporation, such
as the Federal National Mortgage Association ("Fannie Mae") or the Federal
Home Loan Mortgage Corporation ("Freddie Mac"), or an agency of the U.S.
government, such as the Government National Mortgage Association ("Ginnie
Mae"); "Agency ARMs" refers to Agency RMBS comprised of adjustable-rate and
hybrid adjustable-rate RMBS; "IOs" refers collectively to interest only and
inverse interest only mortgage-backed securities that represent the right to
the interest component of the cash flow from a pool of mortgage loans; "Agency
IOs" refers to Agency RMBS comprised of IOs; "POs" refers to mortgage-backed
securities that represent the right to the principal component of the cash
flow from a pool of mortgage loans; "ARMs" refers to adjustable-rate
residential mortgage loans; "residential securitized loans" refers to prime
credit quality residential ARM loans held in securitization trusts;
"distressed residential loans" refers to a pool of performing and
re-performing, fixed-rate and adjustable-rate, fully amortizing, interest-only
and balloon, seasoned mortgage loans secured by first liens on one- to
four-family properties held in securitization trust; "CMBS" refers to
commercial mortgage-backed securities comprised of commercial mortgage
pass-through securities, as well as IO or PO securities that represent the
right to a specific component of the cash flow from a pool of commercial
mortgage loans; "multi-family CMBS" refers to CMBS backed by commercial
mortgage loans on multi-family properties; "multi-family securitized loans"
refers to the commercial mortgage loans included in the Consolidated K-Series;
"CDO" refers to collateralized debt obligation; "CLO" refers to collateralized
loan obligation; and "Consolidated K-Series" refers to four separate
Freddie-Mac sponsored multi-family loan K- Series securitizations, of which
we, or one of our special purpose entities, or SPEs, own the first loss PO
securities and certain IO securities.

We determined that the Consolidated K-Series werevariable
interestentitiesand that we are the primary beneficiary of the Consolidated
K-Series. As a result, we are required to consolidate the Consolidated
K-Series' underlying multi-family loans including their liabilities, interest
income and expense in our consolidated financial statements. We have elected
the fair value option on the assets and liabilities held within the
Consolidated K-Series, which requires that changes in valuations in the assets
and liabilities of the Consolidated K-Series be reflected in our consolidated
statement of operations.

Non-GAAP Financial Measures

In addition to disclosing financial results calculated in accordance with
United States generally accepted accounting principles (GAAP), this press
release presents a non-GAAP financial measure that excludes certain items.
This non-GAAP financial measure is provided to enhance the user's overall
understanding of our financial performance. Specifically, management believes
the non-GAAP financial measure provides useful information to investors by
excluding or adjusting certain items affecting reported operating results that
were unusual or not indicative of our core operating results. The non-GAAP
financial measure presented by the Company should not be considered a
substitute for, or superior to, the financial measures calculated in
accordance with GAAP. Moreover, this non-GAAP financial measure may not be
comparable to similarly titled measures reported by other companies. The
non-GAAP financial measure included in this earnings release has been
reconciled above to the nearest GAAP measure.

About New York Mortgage Trust

New York Mortgage Trust, Inc. is a Maryland corporation that has elected to be
taxed as a real estate investment trust ("REIT"). The Company invests in
mortgage-related and financial assets and targets Agency RMBS, consisting of
fixed-rate, adjustable-rate and hybrid adjustable-rate RMBS, Agency IOs
consisting of interest only and inverse interest only RMBS that represent the
right to the interest component of the cash flow from a pool of mortgage
loans, multi-family CMBS and residential mortgage loans, including loans
sourced from distressed markets.

When used in this press release, in future filings with the Securities and
Exchange Commission ("SEC") or in other written or oral communications,
statements which are not historical in nature, including those containing
words such as "believe," "expect," "anticipate," "estimate," "plan,"
"continue," "intend," "should," "would," "could," "goal," "objective," "will,"
"may" or similar expressions, are intended to identify "forward-looking
statements" within the meaning of Section 27A of the Securities Act of 1933,
as amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, and, as such, may involve known and unknown risks, uncertainties and
assumptions.

Forward-looking statements are based on the Company's beliefs, assumptions and
expectations of its future performance, taking into account all information
currently available to it. These beliefs, assumptions and expectations are
subject to risks and uncertainties and can change as a result of many possible
events or factors, not all of which are known to the Company. If a change
occurs, the Company's business, financial condition, liquidity and results of
operations may vary materially from those expressed in its forward-looking
statements. The following factors are examples of those that could cause
actual results to vary from the Company's forward-looking statements: changes
in interest rates and the market value of the Company's securities; changes in
credit spreads; the impact of the downgrade of the long-term credit ratings of
the U.S., Fannie Mae, Freddie Mac, and Ginnie Mae; market volatility; changes
in the prepayment rates on the mortgage loans underlying the Company's
investment securities; increased rates of default and/or decreased recovery
rates on the Company's assets; the Company's ability to borrow to finance its
assets; changes in government regulations affecting the Company's business;
the Company's ability to maintain its qualification as a REIT for federal tax
purposes; the Company's ability to maintain its exemption from registration
under the Investment Company Act of 1940, as amended; and risks associated
with investing in real estate assets, including changes in business conditions
and the general economy. These and other risks, uncertainties and factors,
including the risk factors described in the Company's periodic reports filed
with the SEC, could cause the Company's actual results to differ materially
from those projected in any forward-looking statements it makes. All
forward-looking statements speak only as of the date on which they are made.
New risks and uncertainties arise over time and it is not possible to predict
those events or how they may affect the Company. Except as required by law,
the Company is not obligated to, and does not intend to, update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.

                           FINANCIAL TABLES FOLLOW



NEW YORK MORTGAGE TRUST, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(amounts in thousands, except per share amounts)
                                                                 
                                                      For the Years
                                                      Ended December 31,
                                                      2012        2011
                                                      (unaudited) 
INTEREST INCOME:                                                  
Investment securities and other                        $27,112   $18,751
Multi-family loans held in securitization trusts       104,410    --
Residential mortgage loans held in securitization      5,573      5,540
trusts
Distressed residential mortgage loans held in          432        --
securitization trust
Total interest income                                  137,527    24,291
                                                                 
INTEREST EXPENSE:                                                 
Investment securities and other                        3,645      1,518
Multi-family collateralized debt obligations           97,032     --
Residential collateralized debt obligations            1,337      1,428
Securitized debt                                       1,945      --
Subordinated debentures                                1,967      1,891
Total interest expense                                 105,926    4,837
                                                                 
NET INTEREST INCOME                                    31,601     19,454
                                                                 
OTHER INCOME (EXPENSE):                                           
Provision for loan losses                              (766)      (1,693)
Impairment loss on investment securities               --         (250)
Income from investments in limited partnership and     622        2,167
limited liability company
Realized gain on investment securities and related     6,268      5,740
hedges, net
Realized gain on residential distressed mortgage loans 85         --
held in securitization trust
Unrealized loss on investment securities and related   (3,947)    (9,657)
hedges, net
Unrealized gain on multi-family loans and debt held in 6,662      --
securitization trusts
Total other income (expense)                           8,924      (3,693)
                                                                 
General, administrative and other expenses (including  11,385     8,323
$1,544 and $3,280 to related parties, respectively)
Termination of management contract with related party  40         2,195
Total general, administrative and other expenses       11,425     10,518
                                                                 
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES  29,100     5,243
Income tax expense                                     932        433
INCOME FROM CONTINUING OPERATIONS                      28,168     4,810
Income from discontinued operation – net of tax        14         63
NET INCOME                                             28,182     4,873
Net (loss) income attributable to noncontrolling       (97)       97
interest
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS         $28,279   $4,776
                                                                 
Basic income per common share                          $1.08     $0.46
Diluted income per common share                        $1.08     $0.46
Dividends declared per common share                    $1.06     $1.00
Weighted average shares outstanding-basic              26,067     10,495
Weighted average shares outstanding-diluted            26,067     10,495


NEW YORK MORTGAGE TRUST, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(amounts in thousands, except per share amounts)
                                                                 
                                                      For the Quarters
                                                      Ended December 31,
                                                      2012        2011
                                                      (unaudited) (unaudited)
INTEREST INCOME:                                                  
Investment securities and other                        $10,473   $5,361
Multi-family loans held in securitization trusts       37,331     --
Residential mortgage loans held in securitization      1,372      1,323
trusts
Distressed residential mortgage loans held in          432        --
securitization trust
Total interest income                                  49,608     6,684
                                                                 
INTEREST EXPENSE:                                                 
Investment securities and other                        1,803      437
Multi-family collateralized debt obligations           34,543     --
Residential collateralized debt obligations            325        348
Securitized debt                                       1,029      --
Subordinated debentures                                485        484
Total interest expense                                 38,185     1,269
                                                                 
NET INTEREST INCOME                                    11,423     5,415
                                                                 
OTHER INCOME (EXPENSE):                                           
Provision for loan losses                              (230)      (234)
Impairment loss on investment securities               --         (250)
(Loss) income from investments in limited partnership  (42)       405
and limited liability company
Realized gain (loss) on investment securities and      594        (2,260)
related hedges, net
Realized gain on residential distressed mortgage loans 85         --
held in securitization trust
Unrealized loss on investment securities and related   (1,370)    (895)
hedges, net
Unrealized gain on multi-family loans and debt held in 1,672      --
securitization trusts
Total other income (expense)                           709        (3,234)
                                                                 
General, administrative and other expenses (including  2,857      1,859
$514 and $515 to related parties, respectively)
Termination of management contract with related party  --         2,195
Total general, administrative and other expenses       2,857      4,054
                                                                 
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME 9,275      (1,873)
TAXES
Income tax (benefit) expense                           (133)      14
INCOME (LOSS) FROM CONTINUING OPERATIONS               9,408      (1,887)
(Loss)income from discontinued operation – net of tax  (18)       40
NET INCOME (LOSS)                                      9,390      (1,847)
Net income attributable to noncontrolling interest     --       45
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS  $9,390    $(1,892)
                                                                 
Basic income (loss) per common share                   $0.19     $(0.16)
Diluted income (loss) per common share                 $0.19     $(0.16)
Dividends declared per common share                    $0.27     $0.35
Weighted average shares outstanding-basic              48,219     11,919
Weighted average shares outstanding-diluted            48,219     11,919



NEW YORK MORTGAGE TRUST, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(amounts in thousands, except share and per share amounts)
                                                                
                                                                
                                                    December 31, December 31,
                                                    2012         2011
ASSETS                                               (unaudited)  
                                                                
Investment securities, available for sale, at fair
value (including pledged securities of $954,656 and  $1,034,711 $200,342
$129,942, respectively)
Investment securities, available for sale, at fair   71,159      --
value held in securitization trusts
Residential mortgage loans held in securitization    187,229     206,920
trusts (net)
Residential distressed mortgage loans held in        60,459      --
securitization trust (net)
Multi-family loans held in securitization trusts, at 5,442,906   --
fair value
Derivative assets                                    246,129     208,218
Investment in limited partnership                    136         8,703
Cash and cash equivalents                            31,777      16,586
Receivable for securities sold                       --          1,133
Receivables and other assets                         85,895      40,803
Total Assets                                         $7,160,401 $682,705
                                                                
LIABILITIES AND EQUITY                                           
Liabilities:                                                     
Financing arrangements, portfolio investments        $889,134   $112,674
Residential collateralized debt obligations          180,979     199,762
Multi-family collateralized debt obligations, at     5,319,573   --
fair value
Securitized debt                                     117,591     --
Derivative liabilities                               5,542       2,619
Payable for securities purchased                     245,931     228,300
Accrued expenses and other liabilities               34,434      7,154
Accrued expenses, related parties                    211         889
Subordinated debentures                              45,000      45,000
Total liabilities                                    6,838,395   596,398
Commitments and Contingencies                                    
Equity:                                                          
Stockholders' equity                                             
Common stock, $0.01 par value, 400,000,000
authorized,49,575,331 and 13,938,273 shares issued  496         139
and outstanding at December 31, 2012 and December
31, 2011, respectively
Additional paid-in capital                           355,006     153,710
Accumulated other comprehensive income               18,088      11,292
Accumulated deficit                                  (51,584)    (79,863)
Total stockholders' equity                           322,006     85,278
Noncontrolling interest                              --          1,029
Total equity                                         322,006     86,307
Total Liabilities and Equity                         $7,160,401 $682,705
                                                                

CONTACT: AT THE COMPANY
         Kristine R. Nario
         Investor Relations
         Phone: (646) 216-2363
         Email: knario@nymtrust.com
 
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