Bimini Capital Management Announces Third Quarter 2025 Results
Bimini Capital Management (OTCQB: BMNM) reported Q3 2025 net income of $1.8M or $0.18 per share, versus $0.3M ($0.03) in Q3 2024, with book value per share $0.92 at September 30, 2025. Advisory service revenue was approximately $4.5M (up 35% YoY) and advisory net income was $2.4M. Investment-portfolio net income was $0.3M. Orchid Island reported $72.1M net income and raised $152.3M in equity, supporting higher advisory fees. Portfolio returns: pass-through MBS ~10.2%, structured MBS ~0.1%, combined ~8.4%. Repurchase obligations totaled ~$100.0M at a 4.36% average rate; liquidity was ~$9.7M.
Bimini Capital Management (OTCQB: BMNM) ha riportato un utile netto del Q3 2025 di 1,8 milioni di dollari o 0,18 dollari per azione, rispetto a 0,3 milioni di dollari (0,03) nel Q3 2024, con valore contabile per azione 0,92 dollari al 30 settembre 2025. I ricavi dai servizi di consulenza sono stati circa 4,5 milioni di dollari (in aumento del 35% su base annua) e l'utile netto da consulenza è stato di 2,4 milioni di dollari. L'utile netto del portafoglio di investimenti è stato di 0,3 milioni di dollari. Orchid Island ha riportato 72,1 milioni di dollari di utile netto e ha raccolto 152,3 milioni di dollari in capitale, a sostegno di tariffe di consulenza più elevate. I rendimenti del portafoglio: MBS pass-through ~10,2%, MBS strutturato ~0,1%, combinati ~8,4%. Gli obblighi di riacquisto ammontavano a circa 100,0 milioni di dollari a un tasso medio del 4,36%; la liquidità era di circa 9,7 milioni di dollari.
Bimini Capital Management (OTCQB: BMNM) reportó una ganancia neta del T3 2025 de 1,8 millones de dólares o 0,18 por acción, frente a 0,3 millones de dólares (0,03) en el T3 2024, con valor contable por acción de 0,92 dólares al 30 de septiembre de 2025. Los ingresos por servicios de asesoría fueron aproximadamente 4,5 millones de dólares (un aumento del 35% interanual) y la ganancia neta de asesoría fue de 2,4 millones de dólares. La ganancia neta de la cartera de inversiones fue de 0,3 millones de dólares. Orchid Island reportó 72,1 millones de dólares de ganancia neta y levantó 152,3 millones de dólares en capital, apoyando tarifas de asesoría más altas. Rendimientos de la cartera: MBS de traspaso ~10,2%, MBS estructurado ~0,1%, combinado ~8,4%. Las obligaciones de recompra totalizaron ~100,0 millones de dólares a una tasa media del 4,36%; la liquidez fue de ~9,7 millones de dólares.
Bimini Capital Management (OTCQB: BMNM)은 2025년 3분기 순이익이 180만 달러 또는 주당 0.18달러로 보고되었으며, 2024년 3분기 30만 달러(주당 0.03)와 비교됩니다. 주당 순자산가치 0.92달러가 2025년 9월 30일 기준입니다. 자문 서비스 매출은 대략 450만 달러로 YoY 35% 증가했고 자문 순이익은 240만 달러입니다. 투자 포트폴리오 순이익은 30만 달러였습니다. Orchid Island은 순이익 7,210만 달러를 보고했고 자본에서 1억 5230만 달러를 조달하여 더 높은 자문 수수료를 지원했습니다. 포트폴리오 수익률: 패스스루 MBS 약 10.2%, 구조화된 MBS 약 0.1%, 합계 약 8.4%. 재매입 의무는 평균 4.36%의 금리로 총 1억 달러에 달했고 유동성은 약 970만 달러였습니다.
Bimini Capital Management (OTCQB: BMNM) a déclaré un résultat net du T3 2025 de 1,8 million de dollars ou 0,18 $ par action, contre 0,3 million de dollars (0,03) au T3 2024, avec une valeur comptable par action de 0,92 $ au 30 septembre 2025. Le chiffre d’affaires des services-conseils était d’environ 4,5 millions de dollars (en hausse de 35 % sur un an) et le résultat net des conseils était de 2,4 millions de dollars. Le résultat net du portefeuille d’investissement était de 0,3 million de dollars. Orchid Island a enregistré un résultat net de 72,1 millions de dollars et a levé 152,3 millions de dollars de capitaux, soutenant des frais de conseil plus élevés. Rendements du portefeuille : MBS pass-through environ 10,2%, MBS structurés environ 0,1%, combinés environ 8,4%. Les obligations de rachat totalisaient environ 100,0 millions de dollars à un taux moyen de 4,36% ; la liquidité était d’environ 9,7 millions de dollars.
Bimini Capital Management (OTCQB: BMNM) meldete den Nettogewinn im Q3 2025 von 1,8 Mio. USD oder 0,18 USD pro Aktie, verglichen mit 0,3 Mio. USD (0,03) im Q3 2024, bei Buchwert pro Aktie von 0,92 USD am 30. September 2025. Die Advisory-Service-Umsätze betrugen ca. 4,5 Mio. USD (YoY-Anstieg um 35%) und der Advisory-Nettoertrag war 2,4 Mio. USD. Das Nettoergebnis des Investment-Portfolios betrug 0,3 Mio. USD. Orchid Island meldete ein Nettoergebnis von 72,1 Mio. USD und sammelte 152,3 Mio. USD Eigenkapital, was zu höheren Advisory-Gebühren beitrug. Portfoliorenditen: Pass-Through MBS ca. 10,2%, strukturiertes MBS ca. 0,1%, insgesamt ca. 8,4%. Rückkäufe beliefen sich insgesamt auf ca. 100,0 Mio. USD zu einem Durchschnittszinssatz von 4,36%; Liquidität ca. 9,7 Mio. USD.
Bimini Capital Management (OTCQB: BMNM) أبلغت عن صافي دخل للربع الثالث 2025 قدره 1.8 مليون دولار أو 0.18 دولار للسهم، مقابل 0.3 مليون دولار (0.03) في الربع الثالث 2024، وبـ قيمة دفترية للسهم 0.92 دولار في 30 سبتمبر 2025. كان دخل خدمات الاستشارات حوالي 4.5 مليون دولار (ارتفاع 35% سنوياً) و< b>صافي دخل الاستشارات كان 2.4 مليون دولار. كان صافي دخل محفظة الاستثمار 0.3 مليون دولار. أبلغت Orchid Island عن 72.1 مليون دولار من صافي الدخل وجمعت 152.3 مليون دولار من حقوق الملكية، مما دعم أسعار استشارية أعلى. عوائد المحفظة: MBS العابر ~10.2%، MBS المهيكل ~0.1%، الإجمالي ~8.4%. التزامات إعادة الشراء بلغت نحو ~100.0 مليون دولار وبمعدل متوسط 4.36%؛ السيولة كانت ~9.7 مليون دولار.
- Q3 net income increased to $1.8M from $0.3M
- Advisory revenue rose ~35% year-over-year to $4.5M
- Orchid net income of $72.1M and $152.3M equity raise
- Pass-through MBS return ~10.2% for the quarter
- Operating expenses increased by 13% year-over-year
- Net interest income fell 2% quarter-over-quarter
- Repurchase obligations of $100.0M vs liquidity ~$9.7M
VERO BEACH, Fla., Nov. 06, 2025 (GLOBE NEWSWIRE) -- Bimini Capital Management, Inc. (OTCQB: BMNM), (“Bimini Capital,” “Bimini,” or the “Company”), today announced results of operations for the three-month period ended September 30, 2025.
Third Quarter 2025 Highlights
- Net income of approximately
$1.8 million , or$0.18 per common share, compared to net income of approximately$0.3 million , or$0.03 per common share, in the third quarter of 2024 - Book value per share of
$0.92 - Company to discuss results on Friday, November 7, 2025, at 10:00 AM ET
Management Commentary
Commenting on third quarter results, Robert E. Cauley, Chairman and Chief Executive Officer, said, “Unlike the second quarter, the third quarter of 2025 was generally free of market moving events unlike the second. As a result, interest rates were generally range bound and slightly lower on the quarter, implied interest rate volatility continued to decline steadily, and mortgage spreads tightened modestly but still offer attractive returns on a historical basis. In all it was a very favorable environment for levered Agency Residential Mortgage Backed Securities ("RMBS") investors, and the companies in the sector generated strong financial results for the quarter, including Orchid Island Capital, Inc. ("Orchid"). The quarter was also conducive to capital raising by the mortgage Real Estate Investment Trust ("REIT") sector and most companies in the space did so, including Orchid once again.
“Like the second quarter of 2025, our advisory service revenues for the nine and three months ended September 30, 2025, continued to expand, increasing by
“As the fourth quarter unfolds the markets are faced with a prolonged government shutdown that commenced on October 1, 2025. Economic data related to the labor market release during the third quarter of 2025 was quite weak, and the Fed shifted its balance of risks outlook towards economic weakness, leading to two 25 basis point interest rate cuts – in September and October. Interest rate volatility has remained low – both realized and implied in the swaptions market, and Agency RMBS have continued to perform well. The market remains generally conducive to both Agency mortgage REIT performance and capital raising. Without most economic data available due to the government shutdown, markets are unable to clearly discern the evolving performance of the economy, and the Federal Reserve may withhold further monetary policy steps until there is more clarity on the economic outlook. In the interim the Company should continue to benefit from the favorable market conditions.”
Details of Third Quarter 2025 Results of Operations
Bimini's advisory service revenues of approximately
Interest revenue from Royal Palm's MBS portfolio increased
Interest charges on the trust preferred and other long-term debt of
Management of Orchid Island Capital, Inc.
Orchid is managed and advised by Bimini. As Manager, Bimini is responsible for administering Orchid’s business activities and day-to-day operations. Pursuant to the terms of a management agreement, our subsidiary, Bimini Advisors, provides Orchid with its management team, including its officers, along with appropriate support personnel. Bimini also maintains a common stock investment in Orchid, which is accounted for under the fair value option, with changes in fair value recorded in the statement of operations for the current period. For the three months ended September 30, 2025, Bimini’s statement of operations included dividends of
Book Value Per Share
The Company's book value per share on September 30, 2025 was
Capital Allocation and Return on Invested Capital
The Company allocates capital between two MBS sub-portfolios, the pass-through MBS portfolio and the structured MBS portfolio, consisting of interest-only and inverse interest-only securities. The table below details the changes to the respective sub-portfolios during the quarter.
| Portfolio Activity for the Quarter | ||||||||||||||||||||
| Structured Security Portfolio | ||||||||||||||||||||
| Inverse | ||||||||||||||||||||
| Pass | Interest- | Interest- | ||||||||||||||||||
| Through | Only | Only | ||||||||||||||||||
| Portfolio | Securities | Securities | Sub-total | Total | ||||||||||||||||
| Market Value - June 30, 2025 | $ | 105,433,767 | $ | 2,183,340 | $ | 6,522 | $ | 2,189,862 | $ | 107,623,629 | ||||||||||
| Return of investment | n/a | (78,246 | ) | (302 | ) | (78,548 | ) | (78,548 | ) | |||||||||||
| Pay-downs | (3,976,821 | ) | n/a | n/a | n/a | (3,976,821 | ) | |||||||||||||
| Discount accreted due to pay-downs | (28,230 | ) | n/a | n/a | n/a | (28,230 | ) | |||||||||||||
| Mark to market gains (losses) | 897,033 | (29,666 | ) | 233 | (29,433 | ) | 867,600 | |||||||||||||
| Market Value - September 30, 2025 | $ | 102,325,749 | $ | 2,075,428 | $ | 6,453 | $ | 2,081,881 | $ | 104,407,630 | ||||||||||
The tables below present the allocation of capital between the respective portfolios at September 30, 2025 and June 30, 2025, and the return on invested capital for each sub-portfolio for the three-month period ended September 30, 2025. Capital allocation is defined as the sum of the market value of securities held, less associated repurchase agreement borrowings, plus cash and cash equivalents and restricted cash associated with repurchase agreements. Capital allocated to non-portfolio assets is not included in the calculation.
| Capital Allocation | ||||||||||||||||||||
| Structured Security Portfolio | ||||||||||||||||||||
| Inverse | ||||||||||||||||||||
| Pass- | Interest- | Interest- | ||||||||||||||||||
| Through | Only | Only | ||||||||||||||||||
| Portfolio | Securities | Securities | Sub-total | Total | ||||||||||||||||
| September 30, 2025 | ||||||||||||||||||||
| Market value | $ | 102,325,749 | $ | 2,075,428 | $ | 6,453 | $ | 2,081,881 | $ | 104,407,630 | ||||||||||
| Cash equivalents and restricted cash | 10,979,924 | - | - | - | 10,979,924 | |||||||||||||||
| Repurchase agreement obligations | (99,953,000 | ) | - | - | - | (99,953,000 | ) | |||||||||||||
| Total | $ | 13,352,673 | $ | 2,075,428 | $ | 6,453 | $ | 2,081,881 | $ | 15,434,554 | ||||||||||
| % of Total | 86.5 | % | 13.5 | % | 0.0 | % | 13.5 | % | 100.0 | % | ||||||||||
| June 30, 2025 | ||||||||||||||||||||
| Market value | $ | 105,433,767 | $ | 2,183,340 | $ | 6,522 | $ | 2,189,862 | $ | 107,623,629 | ||||||||||
| Cash equivalents and restricted cash | 6,583,906 | - | - | - | 6,583,906 | |||||||||||||||
| Repurchase agreement obligations | (101,742,000 | ) | - | - | - | (101,742,000 | ) | |||||||||||||
| Total | $ | 10,275,673 | $ | 2,183,340 | $ | 6,522 | $ | 2,189,862 | $ | 12,465,535 | ||||||||||
| % of Total | 82.4 | % | 17.5 | % | 0.1 | % | 17.6 | % | 100.0 | % | ||||||||||
The returns on invested capital in the PT MBS and structured MBS portfolios were approximately
| Returns for the Quarter Ended September 30, 2025 | ||||||||||||||||||||
| Structured Security Portfolio | ||||||||||||||||||||
| Inverse | ||||||||||||||||||||
| Pass | Interest- | Interest- | ||||||||||||||||||
| Through | Only | Only | ||||||||||||||||||
| Portfolio | Securities | Securities | Sub-total | Total | ||||||||||||||||
| Interest income (net of repo funding cost) | $ | 346,062 | $ | 30,878 | $ | 93 | $ | 30,971 | $ | 377,033 | ||||||||||
| Realized and unrealized gains (losses) | 868,803 | (29,666 | ) | 233 | (29,433 | ) | 839,370 | |||||||||||||
| Hedge losses | (169,953 | ) | n/a | n/a | n/a | (169,953 | ) | |||||||||||||
| Total Return | $ | 1,044,912 | $ | 1,212 | $ | 326 | $ | 1,538 | $ | 1,046,450 | ||||||||||
| Beginning capital allocation | $ | 10,275,673 | $ | 2,183,340 | $ | 6,522 | $ | 2,189,862 | $ | 12,465,535 | ||||||||||
| Return on invested capital for the quarter(1) | 10.2 | % | 0.1 | % | 5.0 | % | 0.1 | % | 8.4 | % | ||||||||||
| (1) | Calculated by dividing the Total Return by the Beginning Capital Allocation, expressed as a percentage. | |
Prepayments
For the third quarter of 2025, the Company received approximately
| PT | Structured | |||||
| MBS Sub- | MBS Sub- | Total | ||||
| Three Months Ended | Portfolio | Portfolio | Portfolio | |||
| September 30, 2025 | 16.4 | 18.8 | 16.8 | |||
| June 30, 2025 | 10.3 | 7.3 | 9.9 | |||
| March 31, 2025 | 7.5 | 6.2 | 7.3 | |||
| December 31, 2024 | 10.9 | 12.5 | 11.1 | |||
| September 30, 2024 | 6.3 | 6.7 | 6.3 | |||
| June 30, 2024 | 10.9 | 5.5 | 10.0 | |||
| March 31, 2024 | 18.0 | 9.2 | 16.5 | |||
Portfolio
The following tables summarize the MBS portfolio as of September 30, 2025 and December 31, 2024:
| ($ in thousands) | |||||||||||||||||
| Weighted | |||||||||||||||||
| Percentage | Average | ||||||||||||||||
| of | Weighted | Maturity | |||||||||||||||
| Fair | Entire | Average | in | Longest | |||||||||||||
| Asset Category | Value | Portfolio | Coupon | Months | Maturity | ||||||||||||
| September 30, 2025 | |||||||||||||||||
| Fixed Rate MBS | $ | 102,326 | 98.0 | % | 5.60 | % | 330 | 1-Aug-54 | |||||||||
| Structured MBS | 2,082 | 2.0 | % | 2.90 | % | 275 | 15-May-51 | ||||||||||
| Total MBS Portfolio | $ | 104,408 | 100.0 | % | 5.26 | % | 329 | 1-Aug-54 | |||||||||
| December 31, 2024 | |||||||||||||||||
| Fixed Rate MBS | $ | 120,056 | 98.1 | % | 5.60 | % | 341 | 1-Jan-55 | |||||||||
| Structured MBS | 2,292 | 1.9 | % | 2.85 | % | 281 | 15-May-51 | ||||||||||
| Total MBS Portfolio | $ | 122,348 | 100.0 | % | 5.26 | % | 340 | 1-Jan-55 | |||||||||
| ($ in thousands) | ||||||||||||||||
| September 30, 2025 | December 31, 2024 | |||||||||||||||
| Percentage of | Percentage of | |||||||||||||||
| Agency | Fair Value | Entire Portfolio | Fair Value | Entire Portfolio | ||||||||||||
| Fannie Mae | $ | 29,528 | 28.3 | % | $ | 32,692 | 26.7 | % | ||||||||
| Freddie Mac | 74,880 | 71.7 | % | 89,656 | 73.3 | % | ||||||||||
| Total Portfolio | $ | 104,408 | 100.0 | % | $ | 122,348 | 100.0 | % | ||||||||
| September 30, 2025 | December 31, 2024 | |||||||
| Weighted Average Pass Through Purchase Price | $ | 102.99 | $ | 102.72 | ||||
| Weighted Average Structured Purchase Price | $ | 4.48 | $ | 4.48 | ||||
| Weighted Average Pass Through Current Price | $ | 101.74 | $ | 99.63 | ||||
| Weighted Average Structured Current Price | $ | 14.02 | $ | 13.71 | ||||
| Effective Duration (1) | 2.699 | 3.622 | ||||||
| (1) | Effective duration is the approximate percentage change in price for a 100 basis point change in rates. An effective duration of 2.699 indicates that an interest rate increase of | |
Financing and Liquidity
As of September 30, 2025, the Company had outstanding repurchase obligations of approximately
We may pledge more of our structured MBS as part of a repurchase agreement funding but retain cash in lieu of acquiring additional assets. In this way, we can, at a modest cost, retain higher levels of cash on hand and decrease the likelihood that we will have to sell assets in a distressed market in order to raise cash. Below is a list of outstanding borrowings under repurchase obligations at September 30, 2025.
| ($ in thousands) | ||||||||||||||||
| Repurchase Agreement Obligations | ||||||||||||||||
| Weighted | Weighted | |||||||||||||||
| Total | Average | Average | ||||||||||||||
| Outstanding | % of | Borrowing | Maturity | |||||||||||||
| Counterparty | Balances | Total | Rate | (in Days) | ||||||||||||
| Marex Capital Markets Inc. | $ | 21,903 | 22.0 | % | 4.33 | % | 23 | |||||||||
| DV Securities, LLC | 18,517 | 18.5 | % | 4.48 | % | 28 | ||||||||||
| Mirae Asset Securities (USA) Inc. | 18,209 | 18.2 | % | 4.27 | % | 44 | ||||||||||
| South Street Securities, LLC | 15,731 | 15.7 | % | 4.31 | % | 23 | ||||||||||
| Clear Street LLC | 15,095 | 15.1 | % | 4.30 | % | 20 | ||||||||||
| Mitsubishi UFJ Securities (USA), Inc. | 10,498 | 10.5 | % | 4.49 | % | 15 | ||||||||||
| $ | 99,953 | 100.0 | % | 4.36 | % | 26 | ||||||||||
Summarized Consolidated Financial Statements
The following is a summarized presentation of the unaudited consolidated balance sheets as of September 30, 2025, and December 31, 2024, and the unaudited consolidated statements of operations for the nine and three month periods ended September 30, 2025 and 2024. Amounts presented are subject to change.
| BIMINI CAPITAL MANAGEMENT, INC. CONSOLIDATED BALANCE SHEETS (Unaudited - Amounts Subject to Change) | ||||||||
| September 30, 2025 | December 31, 2024 | |||||||
| ASSETS | ||||||||
| Mortgage-backed securities | $ | 104,407,630 | $ | 122,348,170 | ||||
| Cash equivalents and restricted cash | 10,979,924 | 7,422,746 | ||||||
| Orchid Island Capital, Inc. common stock, at fair value | 3,989,188 | 4,427,372 | ||||||
| Accrued interest receivable | 505,547 | 601,640 | ||||||
| Deferred tax assets, net | 15,372,984 | 15,930,953 | ||||||
| Other assets | 4,493,621 | 4,122,776 | ||||||
| Total Assets | $ | 139,748,894 | $ | 154,853,657 | ||||
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||
| Repurchase agreements | $ | 99,953,000 | $ | 117,180,999 | ||||
| Long-term debt | 27,352,127 | 27,368,158 | ||||||
| Other liabilities | 3,204,315 | 3,483,093 | ||||||
| Total Liabilities | 130,509,442 | 148,032,250 | ||||||
| Stockholders' equity | 9,239,452 | 6,821,407 | ||||||
| Total Liabilities and Stockholders' Equity | $ | 139,748,894 | $ | 154,853,657 | ||||
| Class A Common Shares outstanding | 10,005,457 | 10,005,457 | ||||||
| Book value per share | $ | 0.92 | $ | 0.68 | ||||
| BIMINI CAPITAL MANAGEMENT, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited - Amounts Subject to Change) | ||||||||||||||||
| Nine Months Ended September 30, | Three Months Ended September 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Advisory services | $ | 11,850,846 | $ | 9,396,828 | $ | 4,457,711 | $ | 3,300,512 | ||||||||
| Interest and dividend income | 5,473,053 | 4,781,408 | 1,739,397 | 1,690,252 | ||||||||||||
| Interest expense | (5,276,945 | ) | (5,558,657 | ) | (1,701,510 | ) | (1,980,863 | ) | ||||||||
| Net revenues | 12,046,954 | 8,619,579 | 4,495,598 | 3,009,901 | ||||||||||||
| Other (expense) income | (356,123 | ) | 1,067,454 | 669,417 | 420,726 | |||||||||||
| Expenses | 8,714,817 | 8,439,314 | 2,971,686 | 2,627,343 | ||||||||||||
| Net income before income tax provision | 2,976,014 | 1,247,719 | 2,193,329 | 803,284 | ||||||||||||
| Income tax provision | 557,969 | 1,052,231 | 370,586 | 547,059 | ||||||||||||
| Net income | $ | 2,418,045 | $ | 195,488 | $ | 1,822,743 | $ | 256,225 | ||||||||
| Basic and Diluted Net (Loss) Income Per Share of: | ||||||||||||||||
| CLASS A COMMON STOCK | $ | 0.24 | $ | 0.02 | $ | 0.18 | $ | 0.03 | ||||||||
| CLASS B COMMON STOCK | $ | 0.24 | $ | 0.02 | $ | 0.18 | $ | 0.03 | ||||||||
| Three Months Ended September 30, | ||||||||
| Key Balance Sheet Metrics | 2025 | 2024 | ||||||
| Average MBS(1) | $ | 106,015,627 | $ | 102,421,681 | ||||
| Average repurchase agreements(1) | 100,847,500 | 97,949,499 | ||||||
| Average stockholders' equity(1) | 8,328,081 | 8,195,116 | ||||||
| Key Performance Metrics | ||||||||
| Average yield on MBS(2) | 5.79 | % | 5.80 | % | ||||
| Average cost of funds(2) | 4.59 | % | 5.61 | % | ||||
| Average economic cost of funds(3) | 4.16 | % | 5.75 | % | ||||
| Average interest rate spread(4) | 1.20 | % | 0.19 | % | ||||
| Average economic interest rate spread(5) | 1.63 | % | 0.05 | % | ||||
| (1) | Average MBS, repurchase agreements and stockholders’ equity balances are calculated using two data points, the beginning and ending balances. | |
| (2) | Portfolio yields and costs of funds are calculated based on the average balances of the underlying investment portfolio/repurchase agreement balances and are annualized for the quarterly periods presented. | |
| (3) | Represents interest cost of our borrowings and the effect of derivative agreements attributed to the period related to hedging activities, divided by average repurchase agreements. | |
| (4) | Average interest rate spread is calculated by subtracting average cost of funds from average yield on MBS. | |
| (5) | Average economic interest rate spread is calculated by subtracting average economic cost of funds from average yield on MBS. | |
About Bimini Capital Management, Inc.
Bimini Capital Management, Inc. invests primarily in, but is not limited to investing 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). Its objective is to earn returns on the spread between the yield on its assets and its costs, including the interest expense on the funds it borrows. In addition, Bimini generates a significant portion of its revenue serving as the manager of the MBS portfolio of, and providing certain repurchase agreement trading, clearing and administrative services to, Orchid.
Forward Looking Statements
Statements herein relating to matters that are not historical facts are forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. The reader is cautioned that such forward-looking statements are based on information available at the time and on management's good faith belief with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in such forward-looking statements. Important factors that could cause such differences are described in Bimini Capital Management, Inc.'s filings with the Securities and Exchange Commission, including Bimini Capital Management, Inc.'s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Bimini Capital Management, Inc. assumes no obligation to update forward-looking statements to reflect subsequent results, changes in assumptions or changes in other factors affecting forward-looking statements, except as may be required by applicable law.
Earnings Conference Call Details
An earnings conference call and live audio webcast will be hosted Friday, November 7, 2025, at 10:00 AM ET. Participants can register and receive dial-in information at https://register-conf.media-server.com/register/BIc095834801924b8887982b5950fc3ce4. A live audio webcast of the conference call can be accessed at https://edge.media-server.com/mmc/p/e376u7h7 or via the investor relations section of the Company's website at https://ir.biminicapital.com. An audio archive of the webcast will be available on the website for 30 days after the call.
CONTACT:
Bimini Capital Management, Inc.
Robert E. Cauley, 772-231-1400
Chairman and Chief Executive Officer
https://ir.biminicapital.com
FAQ
What were Bimini Capital (BMNM) Q3 2025 earnings and EPS?
How much did Bimini's advisory revenue (BMNM) grow in Q3 2025?
What return did Bimini's MBS portfolios (BMNM) generate in Q3 2025?
What is Bimini Capital's (BMNM) book value per share at Sept 30, 2025?
How leveraged is Bimini (BMNM) and what is its liquidity position?
How did Orchid Island's results affect Bimini's Q3 2025 performance?
