10-Q Filing

ELLINGTON CREDIT CO CIK: 1560672 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001560672-15-000020`
Period End Date	20150331
Filing Date	20150508
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	earn-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 30 Cash Flow Statement 72 Stockholders Equity 14

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$53.34M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$45.24M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$51.11M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$50.11M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.15M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.15M	shares	Point-in-time
Mortgage-backed securities, at fair value	`FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesAtFairValue`	$1.39B	USD	Point-in-time
Mortgage-backed securities, at fair value	`FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesAtFairValue`	$1.39B	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.15M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.15M	shares	Point-in-time
Due from brokers	`DuefromBrokers`	$28.74M	USD	Point-in-time
Due from brokers	`DuefromBrokers`	$18.53M	USD	Point-in-time
Financial derivativesassets, at fair value	`DerivativeAssets`	$3.07M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Financial derivativesassets, at fair value	`DerivativeAssets`	$1.48M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Reverse repurchase agreements	`SecuritiesPurchasedUnderAgreementsToResell`	$13.99M	USD	Point-in-time
Reverse repurchase agreements	`SecuritiesPurchasedUnderAgreementsToResell`	$62.97M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Receivable for securities sold	`Receivableforsecuritiessold`	$36.65M	USD	Point-in-time
Receivable for securities sold	`Receivableforsecuritiessold`	$41.83M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Interest receivable	`InterestReceivable`	$4.45M	USD	Point-in-time
Interest receivable	`InterestReceivable`	$4.79M	USD	Point-in-time
Other assets	`OtherAssets`	$610.00K	USD	Point-in-time
Other assets	`OtherAssets`	$317.00K	USD	Point-in-time
Total Assets	`Assets`	$1.58B	USD	Point-in-time
Total Assets	`Assets`	$1.52B	USD	Point-in-time
Repurchase agreements	`SecuritiesSoldUnderAgreementsToRepurchase`	$1.21B	USD	Point-in-time
Repurchase agreements	`SecuritiesSoldUnderAgreementsToRepurchase`	$1.32B	USD	Point-in-time
Payable for securities purchased	`PayablesToBrokerDealersAndClearingOrganizations`	$117.49M	USD	Point-in-time
Payable for securities purchased	`PayablesToBrokerDealersAndClearingOrganizations`	$4.23M	USD	Point-in-time
Due to brokers	`Duetobrokers`	$583.00K	USD	Point-in-time
Due to brokers	`Duetobrokers`	$1.61M	USD	Point-in-time
Financial derivativesliabilities, at fair value	`DerivativeLiabilities`	$14.20M	USD	Point-in-time
Financial derivativesliabilities, at fair value	`DerivativeLiabilities`	$8.70M	USD	Point-in-time
U.S. Treasury securities sold short, at fair value	`FinancialInstrumentsSoldNotYetPurchasedUSGovernmentAndAgencyObligations`	$62.85M	USD	Point-in-time
U.S. Treasury securities sold short, at fair value	`FinancialInstrumentsSoldNotYetPurchasedUSGovernmentAndAgencyObligations`	$13.96M	USD	Point-in-time
Dividend payable	`DividendsPayableCurrentAndNoncurrent`	$5.03M	USD	Point-in-time
Dividend payable	`DividendsPayableCurrentAndNoncurrent`	$5.03M	USD	Point-in-time
Accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$908.00K	USD	Point-in-time
Accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$890.00K	USD	Point-in-time
Management fee payable	`ManagementFeePayable`	$551.00K	USD	Point-in-time
Management fee payable	`ManagementFeePayable`	$610.00K	USD	Point-in-time
Interest payable	`InterestPayableCurrentAndNoncurrent`	$851.00K	USD	Point-in-time
Interest payable	`InterestPayableCurrentAndNoncurrent`	$687.00K	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.41B	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.36B	USD	Point-in-time
Preferred shares, par value $0.01 per share, 100,000,000 shares authorized; (0 shares issued and outstanding, respectively)	`PreferredStockValue`	-	USD	Point-in-time
Preferred shares, par value $0.01 per share, 100,000,000 shares authorized; (0 shares issued and outstanding, respectively)	`PreferredStockValue`	-	USD	Point-in-time
Common shares, par value $0.01 per share, 500,000,000 shares authorized; (9,149,274 and 9,149,274 shares issued and outstanding, respectively)	`CommonStockValue`	$91.00K	USD	Point-in-time
Common shares, par value $0.01 per share, 500,000,000 shares authorized; (9,149,274 and 9,149,274 shares issued and outstanding, respectively)	`CommonStockValue`	$91.00K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$181.31M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$181.28M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-18.01M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-19.36M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$163.37M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$167.18M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$162.04M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$164.96M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$1.58B	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$1.52B	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Interest income	`InterestIncomeOperating`	$10.28M	USD	1 Quarter
Interest income	`InterestIncomeOperating`	$11.96M	USD	1 Quarter
Interest expense	`Interestexpensegross`	$1.16M	USD	1 Quarter
Interest expense	`Interestexpensegross`	$1.26M	USD	1 Quarter
Total net interest income	`InterestIncomeExpenseNet`	$9.02M	USD	1 Quarter
Total net interest income	`InterestIncomeExpenseNet`	$10.80M	USD	1 Quarter
Management fees	`ManagementFees`	$592.00K	USD	1 Quarter
Management fees	`ManagementFees`	$610.00K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$143.00K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$139.00K	USD	1 Quarter
Other operating expenses	`OtherExpenses`	$663.00K	USD	1 Quarter
Other operating expenses	`OtherExpenses`	$663.00K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.42M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.39M	USD	1 Quarter
Net realized gains (losses) on mortgage-backed securities	`GainLossOnSalesOfMortgageBackedSecuritiesMBS`	$6.72M	USD	1 Quarter
Net realized gains (losses) on mortgage-backed securities	`GainLossOnSalesOfMortgageBackedSecuritiesMBS`	$-3.02M	USD	1 Quarter
Net realized gains (losses) on financial derivatives	`Netrealizedgainsonderivativeinstruments`	$-8.74M	USD	1 Quarter
Net realized gains (losses) on financial derivatives	`Netrealizedgainsonderivativeinstruments`	$-3.41M	USD	1 Quarter
Change in net unrealized gains (losses) on mortgage-backed securities	`UnrealizedGainLossOnSecurities`	$5.19M	USD	1 Quarter
Change in net unrealized gains (losses) on mortgage-backed securities	`UnrealizedGainLossOnSecurities`	$17.58M	USD	1 Quarter
Change in net unrealized gains (losses) on financial derivatives	`UnrealizedGainLossOnDerivatives`	$-7.09M	USD	1 Quarter
Change in net unrealized gains (losses) on financial derivatives	`UnrealizedGainLossOnDerivatives`	$-17.80M	USD	1 Quarter
Total other income (loss)	`OtherIncome`	$-3.93M	USD	1 Quarter
Total other income (loss)	`OtherIncome`	$-6.65M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$3.68M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$2.76M	USD	1 Quarter
Basic and Diluted (in dollars per share)	`EarningsPerShareBasic`	$0.30	USD	1 Quarter
Basic and Diluted (in dollars per share)	`EarningsPerShareBasic`	$0.40	USD	1 Quarter
Dividends declared (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.55	USD	1 Quarter
Dividends declared (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.55	USD	1 Quarter

Cash Flow Statement 72 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.68M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.76M	USD	1 Quarter
Net realized (gains) losses on mortgage-backed securities	`GainLossOnSalesOfMortgageBackedSecuritiesMBS`	$6.72M	USD	1 Quarter
Net realized (gains) losses on mortgage-backed securities	`GainLossOnSalesOfMortgageBackedSecuritiesMBS`	$-3.02M	USD	1 Quarter
Change in net unrealized (gains) losses on mortgage-backed securities	`UnrealizedGainLossOnSecurities`	$5.19M	USD	1 Quarter
Change in net unrealized (gains) losses on mortgage-backed securities	`UnrealizedGainLossOnSecurities`	$17.58M	USD	1 Quarter
Net realized (gains) losses on financial derivatives	`Netrealizedgainsonderivativeinstruments`	$-8.74M	USD	1 Quarter
Net realized (gains) losses on financial derivatives	`Netrealizedgainsonderivativeinstruments`	$-3.41M	USD	1 Quarter
Change in net unrealized (gains) losses on financial derivatives	`UnrealizedGainLossOnDerivatives`	$-7.09M	USD	1 Quarter
Change in net unrealized (gains) losses on financial derivatives	`UnrealizedGainLossOnDerivatives`	$-17.80M	USD	1 Quarter
Amortization of premiums and accretion of discounts (net)	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$-2.48M	USD	1 Quarter
Amortization of premiums and accretion of discounts (net)	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$-1.37M	USD	1 Quarter
Share based compensation	`ShareBasedCompensation`	$41.00K	USD	1 Quarter
Share based compensation	`ShareBasedCompensation`	$30.00K	USD	1 Quarter
Due from brokers	`Increasedecreaseinduefrombrokers`	$-10.21M	USD	1 Quarter
Due from brokers	`Increasedecreaseinduefrombrokers`	$7.62M	USD	1 Quarter
Interest receivable	`IncreaseDecreaseInAccruedInterestReceivableNet`	$342.00K	USD	1 Quarter
Interest receivable	`IncreaseDecreaseInAccruedInterestReceivableNet`	$-756.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-293.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-78.00K	USD	1 Quarter
Due to brokers	`Increasedecreaseinduetobrokers`	$-11.02M	USD	1 Quarter
Due to brokers	`Increasedecreaseinduetobrokers`	$1.03M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$18.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$51.00K	USD	1 Quarter
Interest payable	`Increasedecreaseininterestpayable`	$164.00K	USD	1 Quarter
Interest payable	`Increasedecreaseininterestpayable`	$-180.00K	USD	1 Quarter
Management fees payable	`IncreaseDecreaseInManagementFeePayable`	$59.00K	USD	1 Quarter
Management fees payable	`IncreaseDecreaseInManagementFeePayable`	$-8.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$6.45M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.22M	USD	1 Quarter
Purchases of mortgage-backed securities	`PaymentsToAcquireInvestments`	$524.54M	USD	1 Quarter
Purchases of mortgage-backed securities	`PaymentsToAcquireInvestments`	$482.99M	USD	1 Quarter
Proceeds from sale of mortgage-backed securities	`ProceedsFromSaleOfOtherInvestments`	$536.93M	USD	1 Quarter
Proceeds from sale of mortgage-backed securities	`ProceedsFromSaleOfOtherInvestments`	$584.90M	USD	1 Quarter
Principal repayments of mortgage-backed securities	`PrincipalRepaymentsOfSecurities`	$31.21M	USD	1 Quarter
Principal repayments of mortgage-backed securities	`PrincipalRepaymentsOfSecurities`	$19.09M	USD	1 Quarter
Proceeds from investments sold short	`InvestmentSoldNotYetPurchasedSaleProceeds`	$214.42M	USD	1 Quarter
Proceeds from investments sold short	`InvestmentSoldNotYetPurchasedSaleProceeds`	$10.02M	USD	1 Quarter
Repurchase of investments sold short	`Repurchaseofinvestmentssoldshort`	$10.05M	USD	1 Quarter
Repurchase of investments sold short	`Repurchaseofinvestmentssoldshort`	$165.93M	USD	1 Quarter
Proceeds from disposition of financial derivatives	`ProceedsFromDerivativeInstrumentInvestingActivities`	$4.46M	USD	1 Quarter
Proceeds from disposition of financial derivatives	`ProceedsFromDerivativeInstrumentInvestingActivities`	$6.29M	USD	1 Quarter
Purchase of financial derivatives	`PaymentsForDerivativeInstrumentInvestingActivities`	$9.70M	USD	1 Quarter
Purchase of financial derivatives	`PaymentsForDerivativeInstrumentInvestingActivities`	$13.20M	USD	1 Quarter
Payments made on reverse repurchase agreements	`PaymentsForSecuritiesPurchasedUnderAgreementsToResell`	$20.09M	USD	1 Quarter
Payments made on reverse repurchase agreements	`PaymentsForSecuritiesPurchasedUnderAgreementsToResell`	$2.09B	USD	1 Quarter
Proceeds from reverse repurchase agreements	`ProceedsFromSecuritiesPurchasedUnderAgreementsToResell`	$2.04B	USD	1 Quarter
Proceeds from reverse repurchase agreements	`ProceedsFromSecuritiesPurchasedUnderAgreementsToResell`	$20.09M	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$28.03M	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$123.89M	USD	1 Quarter
Offering costs paid	`PaymentsOfStockIssuanceCosts`	-	USD	1 Quarter
Offering costs paid	`PaymentsOfStockIssuanceCosts`	$32.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$4.57M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$5.03M	USD	1 Quarter
Borrowings under repurchase agreements	`Borrowingsunderrepurchaseagreements`	$1.42B	USD	1 Quarter
Borrowings under repurchase agreements	`Borrowingsunderrepurchaseagreements`	$1.62B	USD	1 Quarter
Repayments of repurchase agreements	`Repaymentsofrepurchaseagreements`	$1.53B	USD	1 Quarter
Repayments of repurchase agreements	`Repaymentsofrepurchaseagreements`	$1.65B	USD	1 Quarter
Cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-117.00M	USD	1 Quarter
Cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-33.48M	USD	1 Quarter
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$994.00K	USD	1 Quarter
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$8.10M	USD	1 Quarter
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$53.34M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$45.24M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$51.11M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$50.11M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$53.34M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$45.24M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$51.11M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$50.11M	USD	Point-in-time
Interest paid	`InterestPaid`	$1.09M	USD	1 Quarter
Interest paid	`InterestPaid`	$1.33M	USD	1 Quarter

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$163.37M	USD	Point-in-time
Balance	`StockholdersEquity`	$167.18M	USD	Point-in-time
Balance	`StockholdersEquity`	$162.04M	USD	Point-in-time
Balance	`StockholdersEquity`	$164.96M	USD	Point-in-time
Share based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$30.00K	USD	1 Quarter
Share based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$41.00K	USD	1 Quarter
Dividends declared	`Dividends`	$-5.03M	USD	1 Quarter
Dividends declared	`Dividends`	$-5.03M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.68M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.76M	USD	1 Quarter
Balance	`StockholdersEquity`	$163.37M	USD	Point-in-time
Balance	`StockholdersEquity`	$167.18M	USD	Point-in-time
Balance	`StockholdersEquity`	$162.04M	USD	Point-in-time
Balance	`StockholdersEquity`	$164.96M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.