OLD GREENWICH, Conn.--(BUSINESS WIRE)--Ellington Residential Mortgage REIT (NYSE: EARN) today announced that Robert B. Allardice, III, an Independent Director and Chairman of the Company’s Audit Committee, has been appointed Chairman of the Board of Trustees. Mr. Allardice replaces Thomas F. Robards, who is stepping down from his role as Chairman and remains on the Board as an Independent Trustee.

“We are excited about Barry Allardice’s elevation to Chairman of the Board. Barry has deep knowledge of the Company and has been an invaluable asset as Chairman of the Audit Committee since 2013,” said Laurence Penn, Chief Executive Officer of EARN.

Mr. Allardice concluded, "I am very honored to have been named Chairman at Ellington Residential Mortgage REIT. Looking ahead, I will continue to work closely with the Board and management team as we focus on delivering strong, consistent returns for shareholders."

About Ellington Residential Mortgage REIT

Ellington Residential Mortgage REIT is a mortgage real estate investment trust that specializes in acquiring, investing in and managing residential mortgage- and real estate-related assets, with a primary focus on residential mortgage-backed securities for which the principal and interest payments are guaranteed by a U.S. government agency or a U.S. government-sponsored enterprise. Ellington Residential Mortgage REIT is externally managed and advised by Ellington Residential Mortgage Management LLC, an affiliate of Ellington Management Group, L.L.C.