NEW YORK, December 13, 2024--(BUSINESS WIRE)--MFA Financial, Inc. (NYSE: MFA) Chief Executive Officer Craig Knutson today issued the following statement on the recent passing of MFA independent Board member Francis J. Oelerich III:

"We are deeply saddened by the unexpected passing of our Board colleague, Frank Oelerich. Frank was a dear friend for over 40 years and a trusted colleague. He provided invaluable counsel to me, my fellow Board members and our management team during his five-plus years of service on the MFA Board. He cherished his family, and our deepest sympathies are with his wife, Mary, and their family. He will be sorely missed."

MFA’s Board Chair Laurie Goodman added, "Frank’s service to MFA was invaluable. My colleagues and I appreciated his sound advice and insights, which were always grounded in the best interests of the Company and our stockholders. We extend our heartfelt condolences to his wife and his family."

Among Mr. Oelerich’s various Board duty assignments, he most recently served as Chair of the Audit Committee of the MFA Board, and he was also a member of the Compensation Committee of the Board.

Mr. Oelerich enjoyed a long career in investment banking and was most recently a Managing Director of XMS Capital Partners, a global, independent financial services firm providing investment banking, asset management and merchant banking services. Prior thereto, Mr. Oelerich had a long tenure as a Managing Director in the Mergers & Acquisitions Department of Deutsche Bank Securities, Inc. Mr. Oelerich also worked in investment banking for Morgan Stanley & Co. Incorporated for almost 25 years, rising to the level of Managing Director. Mr. Oelerich received an M.B.A. from Harvard University, where he was elected a George F. Baker Scholar and named a Loeb, Rhoades Fellow, and a B.B.A. (with high honors) from the University of Notre Dame.

MFA Financial, Inc. is a leading specialty finance company that invests in residential mortgage loans, residential mortgage-backed securities and other real estate assets. Through its wholly owned subsidiary, Lima One Capital, MFA also originates and services business purpose loans for real estate investors. MFA has distributed over $4.8 billion in dividends to stockholders since its initial public offering in 1998. MFA is an internally managed, publicly traded real estate investment trust.

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