Bimini Capital Management, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2020
November 05, 2020 at 04:17 pm EST
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Bimini Capital Management, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2020. For the quarter, the company reported net revenues of $2,422,443 compared to $2,411,009 a year ago. Net income was $1,317,787 or $0.11 per basic Class A and B common stock compared to net loss of $772,116 or $0.07 per basic Class A and B common stock a year ago.
For the nine months, the company reported net revenues of $7,459,547 compared to $7,266,794 a year ago. Net loss was $17,547,035 or $1.51 per basic Class A and B common stock compared to net income of $344,765 or $0.03 per basic Class A and B common stock a year ago.
Bimini Capital Management, Inc. is a specialty finance company. The Company operates through two segments: the asset management segment and the investment portfolio segment. The investment portfolio segment includes the investment activities conducted at Bimini Capitalâs wholly owned subsidiary, Royal Palm Capital, LLC (Royal Palm). The asset management segment includes investment advisory services provided by Bimini Advisors Holdings, LLC (Bimini Advisors) to Orchid Island Capital, Inc (Orchid). Its portfolio consists of two categories of Agency mortgage-backed securities (MBS): traditional pass-through Agency MBS, such as mortgage pass-through certificates and collateralized mortgage obligations, and structured Agency MBS, such as interest-only securities and principal-only securities. The Companyâs wholly owned subsidiaries include is Bimini Capital Management, Inc, Royal Palm, and Bimini Advisors. Royal Palm maintains an investment portfolio, consisting primarily of MBS.
BIMINI CAPITAL MANAGEMENT, INC. 
