Earnings Releases·Nov 5, 2026, 4:32 PM ET

Bimini Capital Management — Third Quarter 2026 Earnings Summary

Net income attributable to stockholders declined to $1.0 million ($0.10 per share) for Q3 2026 from $1.8 million ($0.18 per share) in Q3 2025, driven by a $1.3 million drop in MBS interest income offset by a $2.1 million increase in advisory revenue.
The Company executed a strategic pivot by acquiring an 80% interest in Tom Johnson Investment Management (TJIM) in April 2026, resulting in $1.69 million in new advisory revenue and a reduction of the MBS portfolio fair value from $88.9 million to $14.5 million to fund the transaction.
Book value per share increased to $1.47 at September 30, 2026, from $1.26 at year-end 2025, while total stockholders' equity rose to $14.6 million, supported by a widening average interest rate spread to 2.60% from 1.20% in the prior year quarter.
Management highlighted the transition to a diversified asset manager model as a strategic benefit despite negative returns in the Agency RMBS market, with CEO Robert E. Cauley expressing confidence in the Company's positioning amidst elevated interest rates and fixed income market volatility.