Bimini Capital Management Announces Board of Directors Changes

Core Viewpoint - Bimini Capital Management, Inc. announces the resignation of Frank E. Jaumot as a director and the appointment of Ashley B. Griffith as his replacement, effective immediately [1]. Group 1: Management Changes - Frank E. Jaumot has resigned as a director after serving since 2009, contributing significantly to the company since its inception [1]. - Ashley B. Griffith has been appointed as a Class I director, with a term expiring at the annual meeting of stockholders in 2028, replacing Jaumot [1]. Group 2: Background of New Director - Ashley B. Griffith, 53, is currently a Director in Institutional Sales at Hovde Group, focusing on the community and regional banking sector since early 2024 [2]. - He has over 25 years of experience in institutional sales at various investment banking firms, primarily in the financial sector [2]. - Griffith has previously held positions as Managing Director at Compass Point Research and Trading and has worked at Sandler O'Neill, Evercore, and Fox-Pitt, Kelton [2]. Group 3: Company Overview - Bimini Capital Management, Inc. primarily invests in residential mortgage-related securities issued by Fannie Mae, Freddie Mac, and Ginnie Mae [3]. - The company serves as the external manager for Orchid Island Capital, Inc., a publicly-traded real estate investment trust, earning management fees and expense reimbursements [4]. - Bimini also manages the portfolio of its subsidiary, Royal Palm Capital, LLC, with a similar investment strategy to that of Orchid [5].