Bimini Capital Management Announces Addition to Board of Directors

Rhea-AI Summary

Bimini Capital Management, Inc. (BMNM) has appointed G. Hunter Haas, IV, the Chief Investment Officer and Chief Financial Officer, to the Company’s board of directors at a meeting on January 11, 2024.

VERO BEACH, Fla.--(BUSINESS WIRE)-- Bimini Capital Management, Inc. (OTCQB:BMNM) ("Bimini” or the "Company"), today announced that G. Hunter Haas, IV, the Company’s Chief Investment Officer and Chief Financial Officer, was appointed to the Company’s board of directors at a meeting of the Company’s board on January 11, 2024.

About Bimini Capital Management, Inc.

Bimini Capital Management, Inc. is an asset manager that invests primarily in residential mortgage-related securities issued by the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac) and the Government National Mortgage Association (Ginnie Mae).

Through our wholly-owned subsidiary, Bimini Advisors Holdings, LLC ("Bimini Advisors"), we serve as the external manager of Orchid Island Capital, Inc. ("Orchid"). Orchid is a publicly-traded real estate investment trust (NYSE: ORC). Orchid is managed to earn returns on the spread between the yield on its assets and its costs, including the interest expense on the funds it borrows. As Orchid’s external manager, Bimini Advisors receives management fees and expense reimbursements for managing Orchid's investment portfolio and day-to-day operations. Pursuant to the terms of the management agreement, Bimini Advisors provides Orchid with its management team, including its officers, along with appropriate support personnel. Bimini Advisors is at all times subject to the supervision and oversight of Orchid's board of directors and has only such functions and authority as are delegated to it.

We also manage the portfolio of our wholly-owned subsidiary, Royal Palm Capital, LLC (“Royal Palm”). Royal Palm is managed with an investment strategy similar to that of Orchid. Bimini Capital Management, Inc. and its subsidiaries are headquartered in Vero Beach, Florida.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240116741031/en/

Bimini Capital Management, Inc.

Robert E. Cauley, 772-231-1400

Chairman and Chief Executive Officer

https://ir.biminicapital.com

Source: Bimini Capital Management, Inc.

FAQ

What is the ticker symbol for Bimini Capital Management, Inc.?

The ticker symbol for Bimini Capital Management, Inc. is BMNM.

Who was appointed to Bimini Capital Management, Inc.'s board of directors?

G. Hunter Haas, IV, the Chief Investment Officer and Chief Financial Officer, was appointed to Bimini Capital Management, Inc.'s board of directors.

When was the appointment to Bimini Capital Management, Inc.'s board of directors made?

The appointment to Bimini Capital Management, Inc.'s board of directors was made on January 11, 2024.