Bimini Capital Management, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2022
March 09, 2023 at 09:33 pm
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Bimini Capital Management, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2022. For the fourth quarter, the company reported net loss was USD 11.98 million compared to USD 0.55983 million a year ago. Basic loss per share of CLASS A COMMON STOCK was USD 1.17 compared to USD 0.05 a year ago. Diluted loss per share of CLASS A COMMON STOCK was USD 1.17 compared to USD 0.05 a year ago. Basic loss per share of CLASS B COMMON STOCK was USD 1.17 compared to USD 0.05 a year ago. Diluted loss per share of CLASS B COMMON STOCK was USD 1.17 compared to USD 0.05 a year ago.
For the full year, net loss was USD 19.82 million compared to net income of USD 0.275414 million a year ago. Basic loss per share of CLASS A COMMON STOCK was USD 1.9 compared to basic earnings per share of CLASS A COMMON STOCK of USD 0.02 a year ago. Diluted loss per share of CLASS A COMMON STOCK was USD 1.9 compared to diluted earnings per share of CLASS A COMMON STOCK of USD 0.02 a year ago. Basic loss per share of CLASS B COMMON STOCK was USD 1.9 compared to basic earnings per share of CLASS B COMMON STOCK of USD 0.02 a year ago. Diluted loss per share of CLASS B COMMON STOCK was USD 1.9 compared to diluted earnings per share of CLASS B COMMON STOCK of USD 0.02 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. 
