Bimini Capital Management, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2020
March 11, 2021 at 05:22 pm
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Bimini Capital Management, Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2020. For the quarter, the company reported net revenue of $2,628,117 compared to $2,794,416 a year ago. Net income for the period was $13,669,931 compared to net loss $24,600,166 a year ago. Basic net income per Class A common stock and Class B common stock was $1.04 compared to $1.11 a year ago.
For the year, the company reported net revenue of $10,087,664 compared to $10,061,210 a year ago. Net loss for the period was $5,489,142 compared to profit of $13,299,977 a year ago. Basic net loss per Class A common stock and Class B common stock was $0.47 compared to net profit of $1.09 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. 
