Bimini Capital Management, Inc. reported a consolidated net income of $801,054 for the first quarter of 2026, translating to $0.08 per share, an increase from the $552,570, or $0.06 per share, recorded in the same period of 2025. Total revenues for the quarter reached $6.5 million, up from $5.5 million year-over-year, driven primarily by a significant rise in advisory services revenue, which increased to $5.1 million from $3.6 million. Interest income, however, saw a decline to $1.2 million from $1.7 million, reflecting changes in the company's investment strategy and market conditions.
The company's financial position showed substantial changes compared to the previous fiscal period. Total assets decreased to $58.5 million as of March 31, 2026, from $129.7 million at the end of 2025. This decline was largely attributed to a significant reduction in mortgage-backed securities, which fell to $16.1 million from $88.9 million. The decrease in assets was accompanied by a reduction in liabilities, which dropped to $45.0 million from $117.1 million, primarily due to a decrease in repurchase agreements from $85.3 million to $15.2 million.
Strategically, Bimini Capital completed the acquisition of 80% of Tom Johnson Investment Management, LLC (TJIM) on April 1, 2026, for approximately $12.3 million. This acquisition is expected to diversify the company's asset management capabilities and enhance its operational focus. The company anticipates that the results from TJIM will significantly impact its overall performance moving forward, transitioning Bimini into a more comprehensive asset management firm.
Operationally, Bimini Capital's advisory services segment accounted for approximately 79% of total revenues in the first quarter, reflecting a growing reliance on management fees from Orchid Island Capital, Inc. The company managed an average of $11.0 billion in Orchid's mortgage-backed securities during the quarter. Additionally, the company maintained a stable employee headcount, with no significant changes reported in staffing levels.
Looking ahead, Bimini Capital's outlook remains cautious amid ongoing economic uncertainties, including inflationary pressures and geopolitical tensions, particularly related to the recent conflict in Iran. The company plans to continue leveraging its investment strategies while managing risks associated with interest rate fluctuations and market volatility. The integration of TJIM is expected to further shape the company's strategic direction, with a focus on enhancing its asset management capabilities across both equity and fixed income markets.
About BIMINI CAPITAL MANAGEMENT, INC.
Bimini Capital Management, Inc. is a specialty finance company focused on investing in agency mortgage-backed securities (MBS) guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae, primarily backed by single-family residential mortgages. It operates two segments: managing its own leveraged and unleveraged MBS portfolio and externally managing Orchid Island Capital, a mortgage REIT. The company’s strategy emphasizes risk-adjusted returns, interest rate risk management, and maintaining regulatory exemptions through diversified, credit-risk-mitigated investments.
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