Bimini Capital Management Reports Increased Revenue and Net Income Following TJIM Acquisition

Bimini Capital Management, Inc. reported a significant increase in financial performance for the six months ended June 30, 2026, with consolidated net income attributable to stockholders reaching $1.2 million, or $0.12 per share, compared to $0.6 million, or $0.06 per share, for the same period in 2025. Total revenues for the first half of 2026 were approximately $13.7 million, up from $11.1 million in the prior year, driven primarily by a rise in advisory services revenue, which increased to $11.9 million from $7.4 million. The company also reported a net income of $498,348 for the second quarter of 2026, compared to $42,732 in the same quarter of 2025.

The financial results reflect a notable shift in the company's operations following the acquisition of an 80% stake in Tom Johnson Investment Management, LLC (TJIM) on April 1, 2026. This acquisition expanded Bimini's business model from primarily managing mortgage-backed securities (MBS) to providing a broader range of investment advisory services, which contributed to the increase in advisory fees. The company reported $1.7 million in investment advisory fees from TJIM for the second quarter of 2026, marking a new revenue stream for Bimini.

Operationally, Bimini's total assets decreased to $64.4 million as of June 30, 2026, down from $129.7 million at the end of 2025. This decline was largely attributed to a reduction in mortgage-backed securities, which fell to $16.0 million from $88.9 million. The company also reported a decrease in cash and cash equivalents, which stood at $6.5 million compared to $12.7 million at the end of 2025. The reduction in assets was accompanied by a significant decrease in liabilities, with total liabilities dropping to $47.4 million from $117.1 million, primarily due to a reduction in repurchase agreements.

Looking ahead, Bimini Capital's management expressed optimism regarding the future, citing the potential for expanded recurring revenue streams and enhanced cash flow generation opportunities stemming from the TJIM acquisition. However, the company remains cautious about market conditions, particularly the impact of interest rate fluctuations and geopolitical events on its investment portfolio. The company plans to continue leveraging its advisory services and investment management capabilities to navigate these challenges and capitalize on growth opportunities in the evolving financial landscape.