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Bimini Capital Management reports recurring developments as an asset manager with advisory services and a portfolio of residential mortgage-related securities. The company’s updates cover operating results, book value and common-share earnings, management fees from serving as external manager of Orchid Island Capital, and activity in Agency RMBS issued by Fannie Mae, Freddie Mac and Ginnie Mae.
Company news also includes changes to its advisory platform, including the completed purchase of an 80% interest in Tom Johnson Investment Management, a registered investment adviser with individual-account, sub-advisory and wrap-program mandates. Governance and capital-structure items include stockholder-rights-plan amendments tied to net operating loss carryforwards and related stockholder voting matters.
Bimini Capital Management (OTCQX:BMNM) amended its Rights Agreement to extend its expiration five years to December 21, 2030 and raised the rights' purchase price from $4.76 to $10.20. The Rights Plan aims to protect stockholder value and preserve approximately $253.9 million of net operating loss carryforwards (NOLs) as of September 30, 2025 by reducing the likelihood of an "ownership change" under Section 382.
The Board will submit the amendment for stockholder approval at the 2026 annual meeting; failure to obtain approval will cause automatic termination on June 30, 2026 if approval has not been obtained. The First Amendment will be filed in a Form 8-K and related materials will be available to stockholders on request.
Bimini Capital Management (OTCQB:BMNM) announced a board change on November 6, 2025. Longtime director Frank E. Jaumot resigned after serving since 2009 and the company thanked him for over two decades of service.
Effective November 6, 2025, Ashley B. Griffith, age 53, was appointed as a Class I director with a term expiring at the 2028 annual meeting. Griffith currently serves as Director in Institutional Sales at Hovde Group (since early 2024) and has 25+ years in institutional sales and sell-side equity research, including roles at Compass Point, Sandler O’Neill, Evercore, and Fox-Pitt, Kelton. Ashley holds a bachelor’s degree in Math from Hobart College and is the son-in-law of director Robert Dwyer.
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) will release its third-quarter 2025 financial results following the close of trading on Thursday, November 6, 2025.
An earnings conference call and live audio webcast is scheduled for Friday, November 7, 2025 at 10:00 AM ET. Participants can register for dial-in details at the provided registration link. A live audio webcast will be available via the company's investor relations site, and an audio archive will remain accessible for 30 days after the call.
Bimini Capital Management (OTCQB: BMNM) reported Q2 2025 financial results with net income of $43,000 ($0.00 per share) and a book value of $0.74 per share. The company's MBS segment recorded a loss of $1.3 million, offset by advisory services earnings of $1.9 million. For H1 2025, Bimini achieved net income of $0.6 million ($0.06 per share), representing an 8.7% return on equity.
Advisory service revenues increased 20% year-over-year for Q2 2025. The company sold $9.8 million of MBS early in Q2 due to adverse market conditions but saw interest revenues rise 23% year-over-year. Total portfolio value stood at $107.6 million as of June 30, 2025, with outstanding repurchase obligations of $101.7 million at a 4.49% weighted average borrowing rate.
Bimini Capital Management (OTCQB:BMNM) has scheduled its second quarter 2025 earnings release for Thursday, July 31, 2025 after market close. The company will host an earnings conference call and webcast on Friday, August 1, 2025, at 10:00 AM ET.
Interested participants can access the conference call by registering through the provided link, while the live audio webcast will be available through the company's investor relations website. The webcast recording will remain accessible for 30 days following the call.
Bimini Capital Management (OTCQB:BMNM) has scheduled its first quarter 2025 financial results announcement for Thursday, May 1, 2025, after market close. The company will host an earnings conference call and live audio webcast on Friday, May 2, 2025, at 10:00 AM ET. Investors and interested parties can access the conference call by registering through the provided link, while the webcast will be available through the company's investor relations website. The audio archive will remain accessible for 30 days following the call.
Bimini Capital Management (OTCQB: BMNM) reported a net loss of $1.5 million, or $0.15 per common share, for Q4 2024. The company's book value per share stood at $0.68.
Key financial highlights include:
- Advisory service revenue of $3.4 million, including $2.5 million in management fees
- Interest and dividend income of $1.9 million
- Operating expenses of $2.8 million
- Income tax provision of $2.1 million
The company's MBS portfolio increased by $4.0 million during Q4 2024 and $29.5 million for the year. Bimini's management of Orchid Island Capital generated positive results, as Orchid reported Q4 2024 net income of $5.6 million with shareholders' equity increasing from $656.0 million to $668.5 million. The company's liquidity was approximately $5.9 million at quarter-end, with outstanding repurchase obligations of $117.2 million at a net weighted average borrowing rate of 4.68%.
Bimini Capital Management (OTCQB:BMNM) has scheduled its fourth quarter 2024 earnings release for Thursday, March 6, 2025, after market close. The company will host an earnings conference call and live audio webcast the following day, Friday, March 7, 2025, at 10:00 AM ET.
Interested participants can obtain dial-in information by registering through the provided link. The conference call will also be accessible via webcast through the company's investor relations website, with an audio archive available for 30 days following the call.