Bimini Capital Management (BMNM) 10-Q 14 May 21 2021 Q1 Quarterly report Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION - shares	3 Months Ended
	Mar. 31, 2021	May 14, 2021
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Entity Registrant Name	Bimini Capital Management, Inc.
Entity Central Index Key	0001275477
Entity Current Reporting Status	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
EntityInteractiveDataCurrent	Yes
DocumentQuarterlyReport	true
DocumentTransitionReport	false
CityAreaCode	772
LocalPhoneNumber	231-1400
EntityAddressAddressLine1	3305 Flamingo Drive
EntityAddressCityOrTown	Vero Beach
EntityAddressStateOrProvince	FL
EntityAddressPostalZipCode	32963
Entity Incorporation, State Country Name	MD
EntityFileNumber	001-32171
EntityTaxIdentificationNumber	72-1571637
Class A Common Stock [Member]
Entity Common Stock Shares Outstanding		11,608,555
Class B Common Stock [Member]
Entity Common Stock Shares Outstanding		31,938
Class C Common Stock [Member]
Entity Common Stock Shares Outstanding		31,938

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Mortgage Backed Securities At Fair Value [Abstract]
Pledged to counterparties	$ 72,833,006	$ 65,153,274
Unpledged	22,826	24,957
Total mortgage-backed securities	72,855,832	65,178,231
Cash and cash equivalents	5,973,247	7,558,342
Restricted cash	4,037,655	3,353,015
Orchid Island Capital, Inc. common stock, at fair value	15,598,096	13,547,764
Accrued interest receivable	212,051	202,192
Property and equipment, net	2,076,127	2,093,440
Deferred tax assets, net	34,204,364	34,668,467
Due from Affiliate, Current	711,657	632,471
Other assets	1,564,005	1,466,647
Total Assets	137,233,034	128,700,569
Liabilities
Outstanding repurchase obligations	73,135,999	65,071,113
Long-term Debt, Gross	27,607,361	27,612,781
Accrued interest payable	91,841	107,417
Other Liabilities	619,554	1,421,409
Total Liabilities	101,454,755	94,212,720
Stockholders' Equity
Preferred stock	0	0
Common stock	11,673	11,673
Additional paid in capital	332,642,758	332,642,758
Accumulated deficit	(296,876,152)	(298,166,582)
Stockholders Equity	35,778,279	34,487,849
Total Liabilities and Stockholders' Equity	137,233,034	128,700,569
Class A Common Stock [Member]
Stockholders' Equity
Common stock	11,609	11,609
Class B Common Stock [Member]
Stockholders' Equity
Common stock	32	32
Class C Common Stock [Member]
Stockholders' Equity
Common stock	$ 32	$ 32

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals)	Mar. 31, 2021USD ($)$ / sharesshares
Class of Stock [Line Items]
Preferred Stock Par Or Stated Value Per Share | $ / shares	$ 0.001
Preferred Shares Authorized	10,000,000
Preferred Stock Value | $	$ 0
Common Stock Value Outstanding | $	$ 11,673
Class A Common Stock [Member]
Class of Stock [Line Items]
Common Stock Par Or Stated Value Per Share | $ / shares	$ 0.001
Common Stock Shares Authorized	98,000,000
Common Stock Shares Issued	11,608,555
Common Stock Shares Outstanding	11,608,555
Common Stock Value Outstanding | $	$ 11,609
Class B Common Stock [Member]
Class of Stock [Line Items]
Common Stock Par Or Stated Value Per Share | $ / shares	$ 0.001
Common Stock Shares Authorized	1,000,000
Common Stock Shares Issued	31,938
Common Stock Shares Outstanding	31,938
Common Stock Value Outstanding | $	$ 32
Class C Common Stock [Member]
Class of Stock [Line Items]
Common Stock Par Or Stated Value Per Share | $ / shares	$ 0.001
Common Stock Shares Authorized	1,000,000
Common Stock Shares Issued	31,938
Common Stock Shares Outstanding	31,938
Common Stock Value Outstanding | $	$ 32
Preferred Undesignated [Member]
Class of Stock [Line Items]
Preferred Stock Par Or Stated Value Per Share | $ / shares	$ 0.001
Preferred Shares Authorized	9,900,000
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock Par Or Stated Value Per Share | $ / shares	$ 0.001
Preferred Shares Authorized	100,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenues
Advisory services	$ 2,025,409	$ 1,724,597
Interest income	610,618	2,039,994
Orchid Island Capital, Inc. dividends	506,095	364,809
Total revenues	3,142,122	4,129,400
Interest expense on repurchase agreements	39,858	927,816
Interest Expense, Long-term Debt	249,548	349,501
Net revenues	2,852,716	2,852,083
Other income:
Unrealized (losses) gains on mortgage-backed securities	(1,392,261)	(574,281)
Realized gains on mortgage-backed securities	0	(5,804,656)
Unrealized losses on Orchid Island Capital, Inc. common stock	2,050,332	(4,408,105)
(Losses) gains on derivative instruments	243	(5,290,731)
Other expense, net	86	324
Total other income	658,400	(16,077,449)
Expenses
Compensation and related benefits	1,123,530	1,100,044
Directors fees and liability insurance	188,020	164,581
Audit, legal and other professional fees	137,168	159,293
Administrative and other expenses	307,865	282,039
Total expenses	1,756,583	1,705,957
Net (loss) income before income tax provision (benefit)	1,754,533	(14,931,323)
Income tax provision (benefit)	464,103	7,401,624
Net (loss) income	$ 1,290,430	$ (22,332,947)
Class A Common Stock [Member]
Basic and Diluted Net (Loss) Income Per Share of:
Basic	$ 0.11	$ (1.92)
Diluted	$ 0.11	$ (1.92)
Weighted Average Shares Outstanding
Weighted Average Shares - Basic and Diluted	11,608,555	11,608,555
Class B Common Stock [Member]
Basic and Diluted Net (Loss) Income Per Share of:
Basic	$ 0.11	$ (1.92)
Diluted	$ 0.11	$ (1.92)
Weighted Average Shares Outstanding
Weighted Average Shares - Basic and Diluted	31,938	31,938

CONSOLIDATED STATEMENT OF STOCK

CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - USD ($)	Total	Common Stock [Member]	Common Stock [Member]	Additional Paid In Capital [Member]	Retained Earnings [Member]
Beginning Balances at Dec. 31, 2019	$ 39,976,991		$ 11,673	$ 332,642,758	$ (292,677,440)
Increase (Decrease) in Stockholders' Equity
Net income	(22,332,947)		0	0	(22,332,947)
Ending Balances at Mar. 31, 2020	17,644,044		11,673	332,642,758	(315,010,387)
Common Stock Shares Outstanding, Beginning Balance at Dec. 31, 2019		11,672,431
Common Stock Shares Outstanding, Ending Balance at Mar. 31, 2020		11,672,431
Beginning Balances at Dec. 31, 2020	34,487,849		11,673	332,642,758	(298,166,582)
Increase (Decrease) in Stockholders' Equity
Net income	1,290,430		0	0	1,290,430
Ending Balances at Mar. 31, 2021	$ 35,778,279		$ 11,673	$ 332,642,758	$ (296,876,152)
Common Stock Shares Outstanding, Beginning Balance at Dec. 31, 2020		11,672,431
Common Stock Shares Outstanding, Ending Balance at Mar. 31, 2021		11,672,431

CONSOLIDATED STATEMENT OF CASH

CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss) income	$ 1,290,430	$ (22,332,947)
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:
Depreciation	17,313	17,598
Deferred income tax provision (benefit)	464,103	7,400,852
Losses (gains) on mortgage-backed securities	1,392,261	6,378,937
Unrealized losses on Orchid Island Capital, Inc. common stock	2,050,332	(4,408,105)
Realized and unrealized losses on TBA securities	0	(1,441,406)
Changes in operating assets and liabilities
Accrued interest receivable	(9,859)	527,542
Increase Decrease In Due From Affiliates	79,186	(101,800)
Other assets	(97,358)	(126,771)
Accrued interest payable	(15,576)	(535,734)
Other liabilities	(801,855)	(849,083)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	109,941	(3,568,295)
From mortgage-backed securities investments
Purchases	(12,367,589)	(20,823,373)
Sales	0	171,155,249
Principal repayments	3,297,727	6,687,740
Net setlement of forward settling TBA contracts	0	1,500,000
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES	(9,069,862)	155,519,616
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from repurchase agreements	74,799,000	361,393,397
Principal payments on repurchase agreements	(66,734,114)	(518,990,000)
Repayments of Debt	5,420	5,077
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES	8,059,466	(157,601,680)
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(900,455)	(5,650,359)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period	10,911,357	12,385,117
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period	10,010,902	6,734,758
Cash paid during the period for:
Interest	304,982	1,813,051
Income Taxes	0	13,465
TBA Contracts [Member]
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:
Realized and unrealized losses on TBA securities	0	1,441,406
From mortgage-backed securities investments
Net setlement of forward settling TBA contracts	$ 0	$ 1,500,000

ORGANIZATION AND SIGNIFICANT AC

ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Organization and Significant Accounting Policies	NOTE 1. Business Bimini Capital Management, Inc., a Maryland corporation (“Bimini Capital” or the “Company”) holding company. Palm Capital LLC, which includes its wholly-owned subsidiary, Bimini Advisors Holdings, LLC. Bimini Advisors Holdings, LLC and its wholly-owned subsidiary, Bimini Advisors, LLC (an Securities and Exchange Commission), are collectively referred to as "Bimini Advisors." mortgage-backed securities (“MBS”) portfolio for Orchid Island Capital, Bimini Advisors also manages the MBS portfolio of Royal Palm Capital, LLC. Royal Palm Capital, LLC maintains an investment portfolio, consisting primarily of MBS investments, Palm Capital, LLC and its wholly-owned subsidiaries are collectively referred to as "Royal COVID-19 Beginning conditions about by COVID-19, calls from condition. The MBS market Treasuries in satisfied all market. To the extent as intended, Company cannot continue to Consolidation The accompanying consolidated financial statements include the accounts of Bimini inter-company accounts and transactions have been eliminated from the consolidated Variable Interest Entities (“VIEs”) A variable interest entity ("VIE") is consolidated by an enterprise if it is deemed the has a common share investment in a trust used in connection with the issuance of Bimini 8 for a description of the accounting used for this VIE. The Company obtains interests in VIEs through its investments in mortgage-backed passive in nature and are not expected to result in the Company obtaining a controlling a result, the Company does not consolidate these VIEs and accounts for the interest See Note 3 for additional information regarding the Company’s investments in mortgage-backed securities. loss for these VIEs is the carrying value of the mortgage-backed securities. Basis of The accompanying unaudited condensed consolidated financial statements have principles generally accepted in the United States (“GAAP”) for interim financial information Article 8 of Regulation S-X. financial statements. a fair presentation have been included. indicative of the results that may be expected The consolidated balance sheet at December 31, 2020 has been derived from the does not include all of the information and footnotes required by GAAP for complete information, refer to the financial statements and footnotes thereto included in the ended December 31, 2020. Use of Estimates The preparation of financial statements in conformity with GAAP requires management affect the reported amounts of assets and liabilities and disclosure of contingent assets and financial statements and the reported amounts of revenues and expenses during those estimates. values of MBS, investment in Orchid common shares and derivatives, determining computation of the income tax provision or benefit and the deferred tax asset allowances Segment Reporting The Company’s operations are classified into two principal reportable segments: the asset investment portfolio segment. These segments are evaluated by management in deciding performance. exception that inter-segment revenues and expenses are included in the presentation Note 14. Cash and Cash Equivalents and Restricted Cash Cash and cash three months derivative The following December 31, March 31, 2021 December 31, 2020 Cash and cash equivalents $ 5,973,247 $ 7,558,342 Restricted cash 4,037,655 3,353,015 Total cash, cash equivalents $ 10,010,902 $ 10,911,357 The Company may exceed Insurance uninsured, uninsured credit risk Advisory Services Orchid is externally the management overhead costs recognized Mortgage-Backed The Company invests primarily in mortgage pass-through (“PT”) mortgage-backed or Ginnie Mae (“MBS”), collateralized mortgage obligations (“CMOs”), interest-only securities representing interest in or obligations backed by pools of mortgage-backed We refer to IO and IIO securities as structured MBS. The Company has elected to account for value option. operations, which, in management’s view, more appropriately reflects the results of our operations for a particular reporting period and is consistent with the underlying economics and how the portfolio is managed. The Company records MBS transactions on the trade date. are included in the MBS balance with an offsetting liability recorded, whereas securities sold sheet date are removed from the MBS balance with an offsetting receivable recorded. Fair value is defined as the price that would be received to sell the asset or paid to transfer between market participants at the measurement date. transfer the liability either occurs in the principal market for the asset or liability, or in the absence of a principal market, occurs in most advantageous market for the asset or liability. Estimated fair values for MBS are based on independent pricing sources and/or third-party broker quotes, when available. Income on PT MBS is based on the stated interest rate of the security. Premiums or discounts present at the date of purchase not amortized. losses on MBS in the consolidated statements of operations. the effective investment reporting periods based on the new estimate of prepayments and the contractual yield and income recognition calculations also take into account the index MBS during each reporting period are recorded in earnings and reported as unrealized in the accompanying consolidated statements of operations. The amount reported as unrealized gains or losses on mortgage-backed securities thus captures the net effect of changes in the fair market value of securities caused by market premium or discount lost as a result of principal repayments during the period. Orchid Island Capital, Inc. Common Stock The Company on this investment market approach Retained The Company interests currently from the retained Derivative The Company exposures, Note”) and instruments The Company are reported Derivative The Company’s hedges of Holding derivatives the event for under addition, the monitors positions Financial The fair value of financial instruments for which it is practicable to estimate that consolidated financial statements or in the accompanying notes. MBS, Orchid accounted for at fair value in the consolidated balance sheets. The methods instruments are presented in Note 13 of the consolidated financial statements. The estimated fair value of cash and cash equivalents, restricted cash, accrued interest agreements, accrued interest payable and other liabilities generally approximates December 31, 2020, due to the short-term nature of these financial instruments. It is impractical to estimate the fair value of the Company’s junior subordinated notes. types of instruments and the Company is unable to ascertain what interest rates would instruments. Further information regarding these instruments is presented in Note Property Property and equipment, net, consists of computer equipment with a depreciable depreciable lives of 8 to 20 years, land which has no depreciable life, and buildings and years. lives of the assets. Depreciation is included in administrative and other expenses Repurchase The Company repurchase contractual Earnings Basic EPS is calculated as income available to common stockholders divided outstanding during the period. Diluted EPS is calculated using the treasury stock or two-class equivalents. However, the common stock equivalents are not included in computing diluted EPS if the result is anti-dilutive. Outstanding shares of Class B Common Stock, participating and convertible into Class dividends in an amount equal to the dividends declared, if any, on each share of Class A Common Stock. Accordingly, shares of the Class B Common Stock are included in the computation of basic EPS using the separately from Class A Common Stock. The shares of Class C Common Stock are not included in the basic EPS computation rights. The outstanding shares of Class B and Class C Common Stock are not A Common Stock as the conditions for conversion into shares of Class A Common Income Taxes Income taxes are provided for using the asset and liability method. Deferred tax assets and between the financial statement and income tax bases of assets and liabilities using enacted deferred tax assets is adjusted by a valuation allowance if, based on the Company’s evaluation, it not be realized. The Company’s U.S. federal income tax returns for years ended on or after December 31, 2017 remain Although management believes its calculations for tax returns are correct and the positions outcome of tax audits could be materially different from the tax returns filed by the Company, and those differences could result in significant costs or benefits to the Company. For tax filing purposes, Bimini Capital and its includable subsidiaries, and Royal Palm, its includable subsidiaries, file as separate tax paying entities. The Company assesses the likelihood, based on their technical merit, that uncertain examination based on the facts, circumstances and information available at the positions is adjusted when new information is available, or when an event occurs positions in the consolidated financial statements only when it is more likely than examination by the relevant taxing authority based on the technical merits of the position. measured at the largest amount of benefit that will more likely than not be realized upon recognized and the tax benefit claimed on a tax return is referred to as an unrecognized consolidated balance sheets. The Company records income tax-related interest and penalties, provision. Recent Accounting On January 1, 2020, we adopted Accounting Standards Update (“ASU”) 2016-13, Financial 326): Measurement of Credit Losses on Financial Instruments. ASU 2016-13 requires credit measured at amortized cost and certain other instruments to be measured using an expected current expected credit loss model). The Company’s adoption of this ASU did not have a material impact statements as its financial assets were already measured at fair value through earnings. In March 2020, the FASB issued ASU 2020-04 “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting .” on debt instruments, leases, derivatives, and other contracts, related to the expected market Offered Rate (“LIBOR,”), 2020-04 generally considers contract modifications related to reference rate reform to remeasurement at the modification date nor a reassessment of a previous accounting optional and may be elected over time, through December 31, 2022, as reference believe the adoption of this ASU will have a material impact on its consolidated financial In January 2021, the FASB issued ASU 2021-01 “Reference Rate Reform (Topic 848). ASU 2021-01 expands the scope of ASC 848 to include all affected derivatives and give market participants the ability to apply certain hedge accounting expedients to derivative contracts affected by the discounting transition. In implementation guidance to permit a company to apply certain optional expedients margining, discounting or contract price alignment of certain derivatives as a result optional expedients to account for a derivative contract modified as a continuation of accounting when certain critical terms of a hedging relationship change to modifications guidance in ASU 2021-01 is effective immediately and available generally through December activities occur. The Company does not believe the adoption of this ASU will have a material impact on its consolidated statements.

ADVISORY SERVICES

ADVISORY SERVICES	3 Months Ended
	Mar. 31, 2021
Advisory Services [Abstract]
Advisory Services [Text Block]	NOTE 2. ADVISORY SERVICES Bimini Advisors serves as the manager and advisor for Orchid pursuant to the Bimini Advisors is responsible for administering Orchid's business activities and management agreement, Bimini Advisors provides Orchid with its management support personnel. Bimini Advisors is at all times subject to the supervision and such functions and authority as delegated to it. Bimini Advisors receives a monthly ● One-twelfth of 1.5% of the first $250 million of Orchid’s month-end equity, as defined in the management agreement, ● One-twelfth of 1.25% of Orchid’s month-end equity that is greater than $250 million and less ● One-twelfth of 1.00% of Orchid’s month-end equity that is greater than $500 million. Orchid is obligated to reimburse Bimini Advisors for any direct expenses incurred amount equal to Orchid's pro rata portion of certain overhead costs set forth in agreement has been renewed through February 20, 2022 and provides for automatic Orchid terminate the management agreement without cause, it will be obligated times the average annual management fee, as defined in the management agreement, renewal term. The following table summarizes the advisory services revenue from Orchid (in thousands) Three Months Ended March 31, 2021 2020 Management fee $ 1,621 $ 1,377 Allocated overhead 404 348 Total $ 2,025 $ 1,725 At March 31, 2021 and December 31, 2020, the net amount due from Orchid was approximately $ 0.7 0.6 million, respectively.

MORTGAGE-BACKED SECURITIES

MORTGAGE-BACKED SECURITIES	3 Months Ended
	Mar. 31, 2021
Mortgage Backed Securities [Abstract]
Mortgage-Backed Securities	NOTE 3. The following (in thousands) March 31, 2021 December 31, 2020 Fixed-rate MBS $ 72,504 $ 64,902 Interest-Only MBS 329 251 Inverse Interest-Only MBS 23 25 Total $ 72,856 $ 65,178

REPURCHASE AGREEMENTS

REPURCHASE AGREEMENTS	3 Months Ended
	Mar. 31, 2021
Disclosure of Repurchase Agreements [Abstract]
Repurchase Agreements	NOTE 4. The Company generally fixed borrowing. down borrowings securities requirements. As of March below: ($ in thousands) OVERNIGHT BETWEEN 2 BETWEEN 31 GREATER (1 DAY OR AND AND THAN LESS) 30 DAYS 90 DAYS 90 DAYS TOTAL March 31, 2021 Fair value of securities pledged, including accrued interest receivable $ - $ 28,910 $ 13,054 $ 31,081 $ 73,045 Repurchase agreement liabilities associated with these securities $ - $ 28,488 $ 13,281 $ 31,367 $ 73,136 Net weighted average borrowing rate - 0.21% 0.27% 0.20% 0.21% December 31, 2020 Fair value of securities pledged, including accrued interest receivable $ - $ 49,096 $ 8,853 $ 7,405 $ 65,354 Repurchase agreement liabilities associated with these securities $ - $ 49,120 $ 8,649 $ 7,302 $ 65,071 Net weighted average borrowing rate - 0.25% 0.23% 0.30% 0.25% In addition, 4.0 3.4 31, 2021 and If, during pledged assets, plus interest and cash posted by the Company as collateral, if any. amount at cash pledged 3.9 3.6 respectively. greater than

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	3 Months Ended
	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	NOTE 5. DERIVATIVE Eurodollar charged to the account on a positions at ($ in thousands) As of March 31, 2021 Junior Subordinated Debt Funding Hedges Average Weighted Weighted Contract Average Average Notional Entry Effective Open Expiration Year Amount Rate Rate Equity (1) 2021 $ 1,000 1.01% 0.21% $ (6) Total / $ 1,000 1.01% 0.21% $ (6) ($ in thousands) As of December 31, 2020 Junior Subordinated Debt Funding Hedges Average Weighted Weighted Contract Average Average Notional Entry Effective Open Expiration Year Amount Rate Rate Equity (1) 2021 $ 1,000 1.02% 0.18% $ (8) Total / $ 1,000 1.02% 0.18% $ (8) Open equity represents the cumulative gains (losses) recorded on open (Losses) Gains on Derivative Instruments The table below presents the effect of the Company’s derivative financial instruments on the consolidated statements of operations for the three months ended March 31, 2021 and 2020 . (in thousands) Three Months Ended March 31, 2021 2020 Eurodollar futures contracts (short positions) Repurchase agreement funding hedges $ - $ (2,329) Junior subordinated debt funding hedges - (515) T-Note futures contracts (short positions) Repurchase agreement funding hedges - (1,006) Net TBA securities - (1,441) Losses on derivative instruments $ - $ (5,291) Credit Risk-Related Contingent Features The use of derivatives creates exposure to credit risk relating to potential losses that could be recognized in the event that the counterparties to these instruments fail to perform their obligations under the contracts. The Company attempts to minimize this risk in several ways. limits its counterparties to major financial institutions with acceptable credit ratings, and by monitoring positions with individual counterparties. In addition, the Company may be required to pledge assets as collateral for its derivatives, whose amounts vary over time based on the market value, notional amount and remaining term of the derivative contract. In the event of a default by a counterparty, the Company may not receive payments provided for under the terms of its derivative agreements, and may have difficulty recovering its assets pledged as collateral for its derivatives. The cash and cash equivalents pledged as collateral for the Company’s derivative instruments are included in restricted cash on the consolidated balance sheets. It is the Company's policy not to offset assets and liabilities associated with open derivative contracts. However, the Chicago Mercantile Exchange (“CME”) rules characterize variation margin transfers as settlement payments, as opposed to adjustments to collateral. As a result, derivative assets and liabilities associated with centrally cleared derivatives for which the CME serves as the central clearing party are presented as if these derivatives had been settled as of the reporting date.

PLEDGED ASSETS

PLEDGED ASSETS	3 Months Ended
	Mar. 31, 2021
Financial Instruments Pledged as Collateral [Abstract]
Pledged Assets [Text Block]	NOTE 6. PLEDGED ASSETS Assets Pledged The table March 31, ($ in thousands) March 31, 2021 December 31, 2020 Repurchase Derivative Repurchase Derivative Assets Pledged to Counterparties Agreements Agreements Total Agreements Agreements Total PT MBS - at fair value $ 72,504 $ - $ 72,504 $ 64,902 $ - $ 64,902 Structured MBS - at fair value 329 - 329 251 - 251 Accrued interest on pledged securities 212 - 212 201 - 201 Restricted cash 4,037 1 4,038 3,352 1 3,353 Total $ 77,082 $ 1 $ 77,083 $ 68,706 $ 1 $ 68,707 Assets Pledged The table of March 31, amount recognized ($ in thousands) Assets Pledged to Bimini March 31, 2021 December 31, 2020 Repurchase agreements $ - $ 80 Total $ - $ 80

OFFSETTING ASSETS AND LIABILITI

OFFSETTING ASSETS AND LIABILITIES	3 Months Ended
	Mar. 31, 2021
Offsetting [Abstract]
Offsetting Assets And Liabilities [Text Block]	NOTE 7. OFFSETTING ASSETS AND LIABILITIES The Company’s arrangements, The Company regarding 2021 and December (in thousands) Offsetting of Liabilities Gross Amount Not Offset in the Net Amount Consolidated Balance Sheet Gross Amount of Liabilities Financial Gross Amount Offset in the Presented in the Instruments Cash of Recognized Consolidated Consolidated Posted as Posted as Net Liabilities Balance Sheet Balance Sheet Collateral Collateral Amount March 31, 2021 Repurchase Agreements $ 73,136 $ - $ 73,136 $ (69,099) $ (4,037) $ - $ 73,136 $ - $ 73,136 $ (69,099) $ (4,037) $ - December 31, 2020 Repurchase Agreements $ 65,071 $ - $ 65,071 $ (61,719) $ (3,352) $ - $ 65,071 $ - $ 65,071 $ (61,719) $ (3,352) $ - The amounts asset or liability same counterparty repurchase

LONG-TERM DEBT

LONG-TERM DEBT	3 Months Ended
	Mar. 31, 2021
Trust Preferred Securities [Abstract]
Trust Preferred Securities	NOTE 8. Long-term (in thousands) March 31, 2021 December 31, 2020 Junior subordinated debt $ 26,804 $ 26,804 Note payable 651 657 Paycheck Protection Plan ("PPP") loan (1) 152 152 Total $ 27,607 $ 27,613 The Small Business Administration has notified the Company that, effective has been forgiven. Junior Subordinated Debt During 2005, the common investors and The debt securities As of March BCTII was that floats trust preferred at Bimini Capital's junior in right BCTII is a activities. proceeds to investment consolidated method. The accompanying liability and statement Note Payable On October installments accrues based The note is Paycheck Protection On April 13, 152,000 Act in the 1.00 % and a term Payments are whole or in certain other principal and The table forgiveness (in thousands) Last nine months of 2021 $ 16 2022 23 2023 24 2024 25 2025 26 After 2025 27,341 Total $ 27,455

CAPITAL STOCK

CAPITAL STOCK	3 Months Ended
	Mar. 31, 2021
Capital Stock [Abstract]
Capital Stock	NOTE 9. There were three months Stock Repurchase On March 26, (“Repurchase 500,000 time to time, executed through Company to The Repurchase extended by the November 15, 2021 . From the inception 70,404 aggregate 166,945 , including 2.37 no shares

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments And Contingencies	NOTE 10. From time to time, the Company may become involved in various claims and legal business. On April 22, 2020 , the Company received a demand for payment from Citigroup, Inc. in the amount 33.1 indemnification provisions of various mortgage loan purchase agreements (“MLPA’s”) entered into between Citigroup Global Markets Realty Corp and Royal Palm Capital, LLC (f/k/a Opteum Financial Services, operations ceased in 2007. related MLPA’s. provision or accrual has been recorded as of March 31, 2021 related to the Citigroup Management is not aware of any other significant reported or unreported contingencies

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 11. The total income tax provision recorded for the three months ended March 31, 2021 0.5 7.4 respectively, on consolidated pre-tax book income (loss) of $ 1.8 14.9 ) million in the three months ended March 31, 2021 and 2020, respectively. The Company’s tax provision is based on a projected effective rate based on annualized amounts applied and includes the expected realization of a portion of the tax benefits of federal and In assessing the realizability of deferred tax assets, management considers whether the deferred tax assets will not be realized. The ultimate realization of capital loss generation of future capital gains and taxable income in periods prior to their expiration. allowance against a portion of the NOLs since the Company believes that it is more likely realized in the future. The Company will continue to assess the need for a valuation As a result of adverse economic impacts of COVID-19 on its business, the Company performed additional valuation allowances against existing deferred tax assets as of March 31, that benefits will not be realized in the future, the Company determined an additional 11.2 was necessary for the net operating loss carryforwards and capital loss carryforwards

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Earnings Per Share (EPS)	NOTE 12. Shares of amount equal Directors. presented EPS as the Shares of Shares of common stock The table

FAIR VALUE

FAIR VALUE	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value	NOTE 13. Fair value reflect the in a particular disclosures measurements. ● Level 1 valuations, (which include ● Level 2 valuations, prices for significant ● Level 3 valuations, observable Company’s own techniques use of market MBS, Orchid months ended advantageous When possible, active markets, generated at both March The Company's Company based the Company and the independent techniques speeds), Treasury curve Scholes and appropriate trade activity characteristics of the asset, adjustable, underlying and other The Company’s readily available. valuations. and discount The following December 31, (in thousands) Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Fair Value Assets Inputs Inputs Measurements (Level 1) (Level 2) (Level 3) March 31, 2021 Mortgage-backed securities $ 72,856 $ - $ 72,856 $ - Orchid Island Capital, Inc. common stock 15,598 15,598 - - December 31, 2020 Mortgage-backed securities $ 65,178 $ - $ 65,178 $ - Orchid Island Capital, Inc. common stock 13,548 13,548 - - During the or 3.

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	NOTE 14. The Company’s operations are classified into two principal reportable segments: the asset investment portfolio segment. The asset management segment includes the investment advisory services provided by Palm. As discussed in Note 2, the revenues of the asset management segment consist of reimbursements received pursuant to a management agreement with Orchid. agreement for the three months ended March 31, 2021 and 2020, were approximately $ 2.0 1.7 accounting for approximately 64 % and 42 % of consolidated revenues, respectively. The investment portfolio segment includes the investment activities conducted by receives revenue in the form of interest and dividend income on its investments. Segment information for the three months ended March 31, 2021 and 2020 is as (in thousands) Asset Investment Management Portfolio Corporate Eliminations Total 2021 Advisory services, external customers $ 2,025 $ - $ - $ - $ 2,025 Advisory services, other operating segments (1) 36 - - (36) - Interest and dividend income - 1,117 - - 1,117 Interest expense - (40) (250) (2) - (290) Net revenues 2,061 1,077 (250) (36) 2,852 Other income - 658 1 (3) - 659 Operating expenses (4) (1,103) (653) - - (1,756) Intercompany expenses (1) - (36) - 36 - Income (loss) before income taxes $ 958 $ 1,046 $ (249) $ - $ 1,755 Asset Investment Management Portfolio Corporate Eliminations Total 2020 Advisory services, external customers $ 1,725 $ - $ - $ - $ 1,725 Advisory services, other operating segments (1) 59 - - (59) - Interest and dividend income - 2,405 - - 2,405 Interest expense - (928) (350) (2) - (1,278) Net revenues 1,784 1,477 (350) (59) 2,852 Other expenses - (15,563) (514) (3) - (16,077) Operating expenses (4) (709) (997) - - (1,706) Intercompany expenses (1) - (59) - 59 - Income (loss) before income taxes $ 1,075 $ (15,142) $ (864) $ - $ (14,931) Assets in each reportable segment as of March 31, 2021 and December 31, 2020 were as (in thousands) Asset Investment Management Portfolio Corporate Total March 31, 2021 $ 1,700 $ 122,894 12,639 $ 137,233 December 31, 2020 1,469 113,764 13,468 128,701

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2021
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 15. RELATED PARTY TRANSACTIONS Relationships with Orchid At both March 31, 2021 and December 31, 2020, the Company owned 2,595,357 approximately 2.8 % and 3.4 % of Orchid’s outstanding common stock on such dates. common stock investment of approximately $ 0.5 0.4 respectively. Robert Cauley, the Chief Executive Officer and Chairman of the Board of Directors of the Company, also serves as Chief Executive Officer and Chairman of the Board of Directors of Orchid, receives compensation stock of Orchid. serves as Chief Financial Officer, Chief Investment Officer and Secretary of Orchid, is a member of Orchid’s Board of Directors, receives compensation from Orchid, and owns shares of common stock of Orchid. independent directors, each own shares of common stock of Orchid.

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Consolidation	Consolidation The accompanying consolidated financial statements include the accounts of Bimini inter-company accounts and transactions have been eliminated from the consolidated
Variable Interest Entity [Policy Text Block]	Variable Interest Entities (“VIEs”) A variable interest entity ("VIE") is consolidated by an enterprise if it is deemed the has a common share investment in a trust used in connection with the issuance of Bimini 8 for a description of the accounting used for this VIE. The Company obtains interests in VIEs through its investments in mortgage-backed passive in nature and are not expected to result in the Company obtaining a controlling a result, the Company does not consolidate these VIEs and accounts for the interest See Note 3 for additional information regarding the Company’s investments in mortgage-backed securities. loss for these VIEs is the carrying value of the mortgage-backed securities.
Basis of Presentation	Basis of The accompanying unaudited condensed consolidated financial statements have principles generally accepted in the United States (“GAAP”) for interim financial information Article 8 of Regulation S-X. financial statements. a fair presentation have been included. indicative of the results that may be expected The consolidated balance sheet at December 31, 2020 has been derived from the does not include all of the information and footnotes required by GAAP for complete information, refer to the financial statements and footnotes thereto included in the ended December 31, 2020.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management affect the reported amounts of assets and liabilities and disclosure of contingent assets and financial statements and the reported amounts of revenues and expenses during those estimates. values of MBS, investment in Orchid common shares and derivatives, determining computation of the income tax provision or benefit and the deferred tax asset allowances
Segment Reporting Policy [Policy Text Block]	Segment Reporting The Company’s operations are classified into two principal reportable segments: the asset investment portfolio segment. These segments are evaluated by management in deciding performance. exception that inter-segment revenues and expenses are included in the presentation Note 14.
Cash and Cash Equivalents and Restricted Cash	Cash and Cash Equivalents and Restricted Cash Cash and cash three months derivative The following December 31, March 31, 2021 December 31, 2020 Cash and cash equivalents $ 5,973,247 $ 7,558,342 Restricted cash 4,037,655 3,353,015 Total cash, cash equivalents $ 10,010,902 $ 10,911,357 The Company may exceed Insurance uninsured, uninsured credit risk
Advisory Services [Policy Tex Block]	Advisory Services Orchid is externally the management overhead costs recognized
Mortgage-Backed Securities	Mortgage-Backed The Company invests primarily in mortgage pass-through (“PT”) mortgage-backed or Ginnie Mae (“MBS”), collateralized mortgage obligations (“CMOs”), interest-only securities representing interest in or obligations backed by pools of mortgage-backed We refer to IO and IIO securities as structured MBS. The Company has elected to account for value option. operations, which, in management’s view, more appropriately reflects the results of our operations for a particular reporting period and is consistent with the underlying economics and how the portfolio is managed. The Company records MBS transactions on the trade date. are included in the MBS balance with an offsetting liability recorded, whereas securities sold sheet date are removed from the MBS balance with an offsetting receivable recorded. Fair value is defined as the price that would be received to sell the asset or paid to transfer between market participants at the measurement date. transfer the liability either occurs in the principal market for the asset or liability, or in the absence of a principal market, occurs in most advantageous market for the asset or liability. Estimated fair values for MBS are based on independent pricing sources and/or third-party broker quotes, when available. Income on PT MBS is based on the stated interest rate of the security. Premiums or discounts present at the date of purchase not amortized. losses on MBS in the consolidated statements of operations. the effective investment reporting periods based on the new estimate of prepayments and the contractual yield and income recognition calculations also take into account the index MBS during each reporting period are recorded in earnings and reported as unrealized in the accompanying consolidated statements of operations. The amount reported as unrealized gains or losses on mortgage-backed securities thus captures the net effect of changes in the fair market value of securities caused by market premium or discount lost as a result of principal repayments during the period.
Investment In Related Party [Policy Text Block]	Orchid Island Capital, Inc. Common Stock The Company on this investment market approach
Retained Interests	Retained The Company interests currently from the retained
Derivative Financial Instruments	Derivative The Company exposures, Note”) and instruments The Company are reported Derivative The Company’s hedges of Holding derivatives the event for under addition, the monitors positions
Financial Instruments	Financial The fair value of financial instruments for which it is practicable to estimate that consolidated financial statements or in the accompanying notes. MBS, Orchid accounted for at fair value in the consolidated balance sheets. The methods instruments are presented in Note 13 of the consolidated financial statements. The estimated fair value of cash and cash equivalents, restricted cash, accrued interest agreements, accrued interest payable and other liabilities generally approximates December 31, 2020, due to the short-term nature of these financial instruments. It is impractical to estimate the fair value of the Company’s junior subordinated notes. types of instruments and the Company is unable to ascertain what interest rates would instruments. Further information regarding these instruments is presented in Note
Property and Equipment, net	Property Property and equipment, net, consists of computer equipment with a depreciable depreciable lives of 8 to 20 years, land which has no depreciable life, and buildings and years. lives of the assets. Depreciation is included in administrative and other expenses Repurchase The Company repurchase contractual Earnings Basic EPS is calculated as income available to common stockholders divided outstanding during the period. Diluted EPS is calculated using the treasury stock or two-class equivalents. However, the common stock equivalents are not included in computing diluted EPS if the result is anti-dilutive. Outstanding shares of Class B Common Stock, participating and convertible into Class dividends in an amount equal to the dividends declared, if any, on each share of Class A Common Stock. Accordingly, shares of the Class B Common Stock are included in the computation of basic EPS using the separately from Class A Common Stock. The shares of Class C Common Stock are not included in the basic EPS computation rights. The outstanding shares of Class B and Class C Common Stock are not A Common Stock as the conditions for conversion into shares of Class A Common Income Taxes Income taxes are provided for using the asset and liability method. Deferred tax assets and between the financial statement and income tax bases of assets and liabilities using enacted deferred tax assets is adjusted by a valuation allowance if, based on the Company’s evaluation, it not be realized. The Company’s U.S. federal income tax returns for years ended on or after December 31, 2017 remain Although management believes its calculations for tax returns are correct and the positions outcome of tax audits could be materially different from the tax returns filed by the Company, and those differences could result in significant costs or benefits to the Company. For tax filing purposes, Bimini Capital and its includable subsidiaries, and Royal Palm, its includable subsidiaries, file as separate tax paying entities. The Company assesses the likelihood, based on their technical merit, that uncertain examination based on the facts, circumstances and information available at the positions is adjusted when new information is available, or when an event occurs positions in the consolidated financial statements only when it is more likely than examination by the relevant taxing authority based on the technical merits of the position. measured at the largest amount of benefit that will more likely than not be realized upon recognized and the tax benefit claimed on a tax return is referred to as an unrecognized consolidated balance sheets. The Company records income tax-related interest and penalties, provision.
Repurchase Agreements	Repurchase The Company repurchase contractual
Earnings Per Share	Earnings Basic EPS is calculated as income available to common stockholders divided outstanding during the period. Diluted EPS is calculated using the treasury stock or two-class equivalents. However, the common stock equivalents are not included in computing diluted EPS if the result is anti-dilutive. Outstanding shares of Class B Common Stock, participating and convertible into Class dividends in an amount equal to the dividends declared, if any, on each share of Class A Common Stock. Accordingly, shares of the Class B Common Stock are included in the computation of basic EPS using the separately from Class A Common Stock. The shares of Class C Common Stock are not included in the basic EPS computation rights. The outstanding shares of Class B and Class C Common Stock are not A Common Stock as the conditions for conversion into shares of Class A Common
Income Taxes	Income Taxes Income taxes are provided for using the asset and liability method. Deferred tax assets and between the financial statement and income tax bases of assets and liabilities using enacted deferred tax assets is adjusted by a valuation allowance if, based on the Company’s evaluation, it not be realized. The Company’s U.S. federal income tax returns for years ended on or after December 31, 2017 remain Although management believes its calculations for tax returns are correct and the positions outcome of tax audits could be materially different from the tax returns filed by the Company, and those differences could result in significant costs or benefits to the Company. For tax filing purposes, Bimini Capital and its includable subsidiaries, and Royal Palm, its includable subsidiaries, file as separate tax paying entities. The Company assesses the likelihood, based on their technical merit, that uncertain examination based on the facts, circumstances and information available at the positions is adjusted when new information is available, or when an event occurs positions in the consolidated financial statements only when it is more likely than examination by the relevant taxing authority based on the technical merits of the position. measured at the largest amount of benefit that will more likely than not be realized upon recognized and the tax benefit claimed on a tax return is referred to as an unrecognized consolidated balance sheets. The Company records income tax-related interest and penalties, provision.
Recent Accounting Pronouncements	Recent Accounting On January 1, 2020, we adopted Accounting Standards Update (“ASU”) 2016-13, Financial 326): Measurement of Credit Losses on Financial Instruments. ASU 2016-13 requires credit measured at amortized cost and certain other instruments to be measured using an expected current expected credit loss model). The Company’s adoption of this ASU did not have a material impact statements as its financial assets were already measured at fair value through earnings. In March 2020, the FASB issued ASU 2020-04 “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting .” on debt instruments, leases, derivatives, and other contracts, related to the expected market Offered Rate (“LIBOR,”), 2020-04 generally considers contract modifications related to reference rate reform to remeasurement at the modification date nor a reassessment of a previous accounting optional and may be elected over time, through December 31, 2022, as reference believe the adoption of this ASU will have a material impact on its consolidated financial In January 2021, the FASB issued ASU 2021-01 “Reference Rate Reform (Topic 848). ASU 2021-01 expands the scope of ASC 848 to include all affected derivatives and give market participants the ability to apply certain hedge accounting expedients to derivative contracts affected by the discounting transition. In implementation guidance to permit a company to apply certain optional expedients margining, discounting or contract price alignment of certain derivatives as a result optional expedients to account for a derivative contract modified as a continuation of accounting when certain critical terms of a hedging relationship change to modifications guidance in ASU 2021-01 is effective immediately and available generally through December activities occur. The Company does not believe the adoption of this ASU will have a material impact on its consolidated statements.

CASH AND CASH EQUIVALENTS (Tabl

CASH AND CASH EQUIVALENTS (Tables)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Schedule of reconciliation of cash, cash equivalents and restricted cash	The following December 31, March 31, 2021 December 31, 2020 Cash and cash equivalents $ 5,973,247 $ 7,558,342 Restricted cash 4,037,655 3,353,015 Total cash, cash equivalents $ 10,010,902 $ 10,911,357

ADVISORY SERVICES (Tables)

ADVISORY SERVICES (Tables)	3 Months Ended
	Mar. 31, 2021
Advisory Services [Abstract]
Schedule of Advisory Fee Income [Table Text Block]	The following table summarizes the advisory services revenue from Orchid (in thousands) Three Months Ended March 31, 2021 2020 Management fee $ 1,621 $ 1,377 Allocated overhead 404 348 Total $ 2,025 $ 1,725

MORTGAGE-BACKED SECURITIES (Tab

MORTGAGE-BACKED SECURITIES (Tables)	3 Months Ended
	Mar. 31, 2021
Mortgage Backed Securities [Abstract]
Schedule of Mortgage-Backed Securities Reconciliation	The following (in thousands) March 31, 2021 December 31, 2020 Fixed-rate MBS $ 72,504 $ 64,902 Interest-Only MBS 329 251 Inverse Interest-Only MBS 23 25 Total $ 72,856 $ 65,178

REPURCHASE AGREEMENTS (Tables)

REPURCHASE AGREEMENTS (Tables)	3 Months Ended
	Mar. 31, 2021
Disclosure of Repurchase Agreements [Abstract]
Schedule of repurchase agreements and remaining maturities	As of March below: ($ in thousands) OVERNIGHT BETWEEN 2 BETWEEN 31 GREATER (1 DAY OR AND AND THAN LESS) 30 DAYS 90 DAYS 90 DAYS TOTAL March 31, 2021 Fair value of securities pledged, including accrued interest receivable $ - $ 28,910 $ 13,054 $ 31,081 $ 73,045 Repurchase agreement liabilities associated with these securities $ - $ 28,488 $ 13,281 $ 31,367 $ 73,136 Net weighted average borrowing rate - 0.21% 0.27% 0.20% 0.21% December 31, 2020 Fair value of securities pledged, including accrued interest receivable $ - $ 49,096 $ 8,853 $ 7,405 $ 65,354 Repurchase agreement liabilities associated with these securities $ - $ 49,120 $ 8,649 $ 7,302 $ 65,071 Net weighted average borrowing rate - 0.25% 0.23% 0.30% 0.25%

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Eurodollar Futures Positions	NOTE 5. DERIVATIVE Eurodollar charged to the account on a positions at ($ in thousands) As of March 31, 2021 Junior Subordinated Debt Funding Hedges Average Weighted Weighted Contract Average Average Notional Entry Effective Open Expiration Year Amount Rate Rate Equity (1) 2021 $ 1,000 1.01% 0.21% $ (6) Total / $ 1,000 1.01% 0.21% $ (6) ($ in thousands) As of December 31, 2020 Junior Subordinated Debt Funding Hedges Average Weighted Weighted Contract Average Average Notional Entry Effective Open Expiration Year Amount Rate Rate Equity (1) 2021 $ 1,000 1.02% 0.18% $ (8) Total / $ 1,000 1.02% 0.18% $ (8)
Schedule of the effect of the Company's deriviative financial instruments on the consolidated statement of operations	The table below presents the effect of the Company’s derivative financial instruments on the consolidated statements of operations for the three months ended March 31, 2021 and 2020 . (in thousands) Three Months Ended March 31, 2021 2020 Eurodollar futures contracts (short positions) Repurchase agreement funding hedges $ - $ (2,329) Junior subordinated debt funding hedges - (515) T-Note futures contracts (short positions) Repurchase agreement funding hedges - (1,006) Net TBA securities - (1,441) Losses on derivative instruments $ - $ (5,291)

PLEDGED ASSETS (Tables)

PLEDGED ASSETS (Tables)	3 Months Ended
	Mar. 31, 2021
Financial Instruments Pledged as Collateral [Abstract]
Schedule of assets pledged as collateral under our repurchase agreements, prime brokerage clearing accounts, derivative agreements and insurance capital by type, including securities pledged related to securities sold but not yet settled	The table March 31, ($ in thousands) March 31, 2021 December 31, 2020 Repurchase Derivative Repurchase Derivative Assets Pledged to Counterparties Agreements Agreements Total Agreements Agreements Total PT MBS - at fair value $ 72,504 $ - $ 72,504 $ 64,902 $ - $ 64,902 Structured MBS - at fair value 329 - 329 251 - 251 Accrued interest on pledged securities 212 - 212 201 - 201 Restricted cash 4,037 1 4,038 3,352 1 3,353 Total $ 77,082 $ 1 $ 77,083 $ 68,706 $ 1 $ 68,707
Schedule of assets pledged to us from counterparties under our repurchase agreements.	The table of March 31, amount recognized ($ in thousands) Assets Pledged to Bimini March 31, 2021 December 31, 2020 Repurchase agreements $ - $ 80 Total $ - $ 80

OFFSETTING ASSETS AND LIABILI_2

OFFSETTING ASSETS AND LIABILITIES (Tables)	3 Months Ended
	Mar. 31, 2021
Offsetting [Abstract]
Offsetting of Liabilties [Table Text Block]	The Company’s arrangements, The Company regarding 2021 and December (in thousands) Offsetting of Liabilities Gross Amount Not Offset in the Net Amount Consolidated Balance Sheet Gross Amount of Liabilities Financial Gross Amount Offset in the Presented in the Instruments Cash of Recognized Consolidated Consolidated Posted as Posted as Net Liabilities Balance Sheet Balance Sheet Collateral Collateral Amount March 31, 2021 Repurchase Agreements $ 73,136 $ - $ 73,136 $ (69,099) $ (4,037) $ - $ 73,136 $ - $ 73,136 $ (69,099) $ (4,037) $ - December 31, 2020 Repurchase Agreements $ 65,071 $ - $ 65,071 $ (61,719) $ (3,352) $ - $ 65,071 $ - $ 65,071 $ (61,719) $ (3,352) $ -

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	3 Months Ended
	Mar. 31, 2021
Debt Instruments [Abstract]
Schedule of Long-term Debt Instruments [Table Text Block]	Long-term (in thousands) March 31, 2021 December 31, 2020 Junior subordinated debt $ 26,804 $ 26,804 Note payable 651 657 Paycheck Protection Plan ("PPP") loan (1) 152 152 Total $ 27,607 $ 27,613
Debt Instrument Redemption [Table Text Block]	The table forgiveness (in thousands) Last nine months of 2021 $ 16 2022 23 2023 24 2024 25 2025 26 After 2025 27,341 Total $ 27,455

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Schedule of reconciling the numerator and denominator of EPS	The table

FAIR VALUE (Tables)

FAIR VALUE (Tables)	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Schedule of financial assets (liabilities) measured at fair value on a recurring basis	The following December 31, (in thousands) Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Fair Value Assets Inputs Inputs Measurements (Level 1) (Level 2) (Level 3) March 31, 2021 Mortgage-backed securities $ 72,856 $ - $ 72,856 $ - Orchid Island Capital, Inc. common stock 15,598 15,598 - - December 31, 2020 Mortgage-backed securities $ 65,178 $ - $ 65,178 $ - Orchid Island Capital, Inc. common stock 13,548 13,548 - -

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Schedule Of Segment Reporting Information By Segment [Text Block]	Segment information for the three months ended March 31, 2021 and 2020 is as (in thousands) Asset Investment Management Portfolio Corporate Eliminations Total 2021 Advisory services, external customers $ 2,025 $ - $ - $ - $ 2,025 Advisory services, other operating segments (1) 36 - - (36) - Interest and dividend income - 1,117 - - 1,117 Interest expense - (40) (250) (2) - (290) Net revenues 2,061 1,077 (250) (36) 2,852 Other income - 658 1 (3) - 659 Operating expenses (4) (1,103) (653) - - (1,756) Intercompany expenses (1) - (36) - 36 - Income (loss) before income taxes $ 958 $ 1,046 $ (249) $ - $ 1,755 Asset Investment Management Portfolio Corporate Eliminations Total 2020 Advisory services, external customers $ 1,725 $ - $ - $ - $ 1,725 Advisory services, other operating segments (1) 59 - - (59) - Interest and dividend income - 2,405 - - 2,405 Interest expense - (928) (350) (2) - (1,278) Net revenues 1,784 1,477 (350) (59) 2,852 Other expenses - (15,563) (514) (3) - (16,077) Operating expenses (4) (709) (997) - - (1,706) Intercompany expenses (1) - (59) - 59 - Income (loss) before income taxes $ 1,075 $ (15,142) $ (864) $ - $ (14,931) Assets in each reportable segment as of March 31, 2021 and December 31, 2020 were as (in thousands) Asset Investment Management Portfolio Corporate Total March 31, 2021 $ 1,700 $ 122,894 12,639 $ 137,233 December 31, 2020 1,469 113,764 13,468 128,701

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES - Cash, Cash Equivalents and Restricted Cash (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Cash and cash equivalents	$ 5,973,247	$ 7,558,342
Restricted cash	4,037,655	3,353,015
Cash Cash Equivalents And Restricted Cash	$ 10,010,902	$ 10,911,357	$ 6,734,758	$ 12,385,117

ADVISORY SERVICES (Details)

ADVISORY SERVICES (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Advisory Services [Line Items]
Advisory services	$ 2,025,409	$ 1,724,597
Orchid Island Capital [Member]
Advisory Services [Line Items]
Advisory services	2,025,000	1,725,000
Due From Affiliate	700,000		$ 600,000
Orchid Island Capital [Member] | Management Fees [Member]
Advisory Services [Line Items]
Advisory services	1,621,000	1,377,000
Orchid Island Capital [Member] | Overhead Allocation [Member]
Advisory Services [Line Items]
Advisory services	$ 404,000	$ 348,000

MORTGAGE-BACKED SECURITIES - M

MORTGAGE-BACKED SECURITIES - MBS Portfolio (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Schedule of Trading Securities and Other Trading Assets [Line Items]
Fair Value	$ 72,855,832	$ 65,178,231
Fixed Rate Mortgages [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Fair Value	72,504,000	64,902,000
Interest Only Securities [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Fair Value	329,000	251,000
Inverse Interest Only [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Fair Value	$ 23,000	$ 25,000

REPURCHASE AGREEMENTS - Narrati

REPURCHASE AGREEMENTS - Narrative (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Assets Sold under Agreements to Repurchase [Line Items]
Restricted Cash And Cash Equivalents At Carrying Value	$ 4,037,655	$ 3,353,015
Repurchase Agreements [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Restricted Cash And Cash Equivalents At Carrying Value	4,037,000	3,352,000
Aggregate amount at risk will all counterparties	$ 3,900,000	$ 3,600,000

REPURCHASE AGREEMENTS - Maturit

REPURCHASE AGREEMENTS - Maturities (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Assets Sold under Agreements to Repurchase [Line Items]
Outstanding repurchase obligations	$ 73,135,999	$ 65,071,113
Securities Sold Under Agreements To Repurchase [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Fair Value of securities pledged, including accrued interest receivable	73,045,000	65,354,000
Outstanding repurchase obligations	$ 73,136,000	$ 65,071,000
Net weighted average borrowing rate	0.21%	0.25%
Overnight (1 Day or Less) [Member] | Securities Sold Under Agreements To Repurchase [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Fair Value of securities pledged, including accrued interest receivable	$ 0	$ 0
Outstanding repurchase obligations	$ 0	$ 0
Net weighted average borrowing rate	0.00%	0.00%
Between 2 and 30 Days [Member] | Securities Sold Under Agreements To Repurchase [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Fair Value of securities pledged, including accrued interest receivable	$ 28,910,000	$ 49,096,000
Outstanding repurchase obligations	$ 28,488,000	$ 49,120,000
Net weighted average borrowing rate	0.21%	0.25%
Between 31 and 90 Days [Member] | Securities Sold Under Agreements To Repurchase [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Fair Value of securities pledged, including accrued interest receivable	$ 13,054,000	$ 8,853,000
Outstanding repurchase obligations	$ 13,281,000	$ 8,649,000
Net weighted average borrowing rate	0.27%	0.23%
Greater Than 90 days [Member] | Securities Sold Under Agreements To Repurchase [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Fair Value of securities pledged, including accrued interest receivable	$ 31,081,000	$ 7,405,000
Outstanding repurchase obligations	$ 31,367,000	$ 7,302,000
Net weighted average borrowing rate	0.20%	0.30%

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS - Interest Rate Futures Positions (Details) - Junior Subordinated Debt Funding Hedges [Member] - Short [Member] - Eurodollar Future [Member] - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Derivatives, Fair Value [Line Items]
Notional Amount	$ 1,000,000	$ 1,000,000
Entry Rate	1.01%	1.02%
Weighted Average Effective Rate	0.21%	0.18%
Open Equity	$ (6,000)	$ (8,000)
Year 2021 Expiration [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	$ 1,000,000	$ 1,000,000
Entry Rate	1.01%	1.02%
Weighted Average Effective Rate	0.21%	0.18%
Open Equity	$ (6,000)	$ (8,000)

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS - Effect on the consolidated statements of operations (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
(Losses) gains on derivative instruments	$ 243	$ (5,290,731)
Eurodollar Future [Member] | Repurchase Agreement Funding Hedges [Member]
Derivative Instruments, Gain (Loss) [Line Items]
(Losses) gains on derivative instruments	0	(2,329,000)
Eurodollar Future [Member] | Junior Subordinated Debt Funding Hedges [Member]
Derivative Instruments, Gain (Loss) [Line Items]
(Losses) gains on derivative instruments	0	(515,000)
Treasury Note Future [Member] | Repurchase Agreement Funding Hedges [Member]
Derivative Instruments, Gain (Loss) [Line Items]
(Losses) gains on derivative instruments	0	(1,006,000)
TBA Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
(Losses) gains on derivative instruments	$ 0	$ (1,441,000)

PLEDGED ASSETS - Assets Pledged

PLEDGED ASSETS - Assets Pledged to Counterparties (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Financial Instrument Secured2 [Domain]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Interest Receivable	$ 212,000	$ 201,000
Restricted Cash And Cash Equivalents At Carrying Value	4,038,000	3,353,000
Repurchase Agreements [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Interest Receivable	212,000	201,000
Restricted Cash And Cash Equivalents At Carrying Value	4,037,000	3,352,000
Total Assets Pledged By Counterparties	0	80,000
Derivative [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Interest Receivable	0	0
Restricted Cash And Cash Equivalents At Carrying Value	1,000	1,000
Residential Mortgage Backed Securities [Member] | Financial Instrument Secured2 [Domain] | Mortgage Backed Securities Pass Through Certificates [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Financial Instruments, Owned and Pledged as Collateral, at Fair Value	72,504,000	64,902,000
Residential Mortgage Backed Securities [Member] | Financial Instrument Secured2 [Domain] | Mortgage Backed Securities Structured Certificates [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Financial Instruments, Owned and Pledged as Collateral, at Fair Value	329,000	251,000
Residential Mortgage Backed Securities [Member] | Repurchase Agreements [Member] | Mortgage Backed Securities Pass Through Certificates [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Financial Instruments, Owned and Pledged as Collateral, at Fair Value	72,504,000	64,902,000
Residential Mortgage Backed Securities [Member] | Repurchase Agreements [Member] | Mortgage Backed Securities Structured Certificates [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Financial Instruments, Owned and Pledged as Collateral, at Fair Value	329,000	251,000
Residential Mortgage Backed Securities [Member] | Derivative [Member] | Mortgage Backed Securities Pass Through Certificates [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Financial Instruments, Owned and Pledged as Collateral, at Fair Value	0	0
Residential Mortgage Backed Securities [Member] | Derivative [Member] | Mortgage Backed Securities Structured Certificates [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Financial Instruments, Owned and Pledged as Collateral, at Fair Value	$ 0	$ 0

PLEDGED ASSETS - Assets Pledg_2

PLEDGED ASSETS - Assets Pledged from Counterparties (Details) - Repurchase Agreements [Member] - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Financial Instruments Owned and Pledged as Collateral [Line Items]
Cash Pledged By Counterparties	$ 0	$ 80,000
Total Assets Pledged By Counterparties	$ 0	$ 80,000

OFFSETTING ASSETS AND LIABILI_3

OFFSETTING ASSETS AND LIABILITIES - Offsetting of Liabilties (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Offsetting Liabilities [Line Items]
Gross Amount Of Recognized Liabilties	$ 73,136,000	$ 65,071,000
Gross Amount Of Liabilties Offset In The Balance Sheet	0	0
Net Amount Of Liabilities Presented In The Balance Sheet	73,136,000	65,071,000
Gross Amount Of Financial Instruments Posted Not Offset in Balance Sheet	(69,099,000)	(61,719,000)
Gross Amounts Of Cash Posted Not Offset In Balance Sheet	(4,037,000)	(3,352,000)
Net Amount Of Liabilities	0	0
Repurchase Agreements [Member]
Offsetting Liabilities [Line Items]
Gross Amount Of Recognized Liabilties	73,136,000	65,071,000
Gross Amount Of Liabilties Offset In The Balance Sheet	0	0
Net Amount Of Liabilities Presented In The Balance Sheet	73,136,000	65,071,000
Gross Amount Of Financial Instruments Posted Not Offset in Balance Sheet	(69,099,000)	(61,719,000)
Gross Amounts Of Cash Posted Not Offset In Balance Sheet	(4,037,000)	(3,352,000)
Net Amount Of Liabilities	$ 0	$ 0

LONG-TERM DEBT- Narrative (Deta

LONG-TERM DEBT- Narrative (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Outstanding Principal Balance	$ 27,607,361	$ 27,612,781
Bimini Capital Trust II Junior Subordinated Note [Member]
Debt Instrument [Line Items]
Outstanding Principal Balance	$ 26,804,000	$ 26,804,000
Paycheck Protection Plan [Member]
Debt Instrument [Line Items]
Interest Rate at Period End	1.00%
Original Loan Amount	$ 152,000

LONG-TERM DEBT - Outstanding Ba

LONG-TERM DEBT - Outstanding Balances (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 27,607,361	$ 27,612,781
Bimini Capital Trust Junior Subordinated Note [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	26,804,000	26,804,000
Mortgage Loan [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	651,000	657,000
Paycheck Protection Plan [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 152,000	$ 152,000

LONG-TERM DEBT - Scheduled Prin

LONG-TERM DEBT - Scheduled Principal Balances (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)
Debt Instrument [Line Items]
Scheduled Principal Payments	$ 27,455
Debt Instrument, Redemption, Period One [Member]
Debt Instrument [Line Items]
Scheduled Principal Payments	16
Debt Instrument, Redemption, Period Two [Member]
Debt Instrument [Line Items]
Scheduled Principal Payments	23
Debt Instrument, Redemption, Period Three [Member]
Debt Instrument [Line Items]
Scheduled Principal Payments	24
Debt Instrument, Redemption, Period Four [Member]
Debt Instrument [Line Items]
Scheduled Principal Payments	25
Debt Instrument, Redemption, Period Five [Member]
Debt Instrument [Line Items]
Scheduled Principal Payments	26
Debt Instrument, Redemption, Thereafter [Member]
Debt Instrument [Line Items]
Scheduled Principal Payments	$ 27,341

CAPITAL STOCK - Stock Repurchas

CAPITAL STOCK - Stock Repurchase Plan (Details) - Class A Common Stock [Member] - March 2018 Stock Repurchase Plan [Member] - USD ($)	36 Months Ended
	Mar. 31, 2021	Mar. 26, 2018
Share Repurchase Program [Line Items]
Authorized Shares		500,000
Stock Repurchase Program Expiration Date	Nov. 15, 2021
Aggregate Repurchase Cost	$ 166,945
Shares Acquired	70,404
Average Cost Per Share	$ 2.37

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Narrative (Details) - Citigroup Demand For Payment [Member] - Threatened Litigation [Member] - Breach Of Representations and Warranties [Member] $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Loss Contingencies [Line Items]
Demand For Payment Date	April 22, 2020
Loss Contingency, Damages Sought, Value	$ 33.1

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Pre-tax book income	$ 1,754,533	$ (14,931,323)
Income tax provision (benefit)	$ 464,103	7,401,624
Reduction of deferred tax valuation allowance		$ 11,200,000

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Net Income (Loss) Available to Common Stockholders, Diluted [Abstract]
Net Income (Loss) Available to Common Stockholders, Basic			$ 1,286
Class A Common Stock [Member]
Net Income (Loss) Available to Common Stockholders, Diluted [Abstract]
Net Income (Loss) Available to Common Stockholders, Basic	$ 1,286	$ (22,272)
Net Income (Loss) Available to Common Stockholders, Diluted	$ 1,286	$ (22,272)
Weighted Average Number of Shares Outstanding, Diluted [Abstract]
Common Shares Outstanding	11,609,000	11,609,000
Weighted Average Shares - Basic and Diluted	11,608,555	11,608,555
Income (Loss) Per Share - Basic	$ 0.11	$ (1.92)
Income (Loss) Pe Share - Diluted	$ 0.11	$ (1.92)
Class B Common Stock [Member]
Net Income (Loss) Available to Common Stockholders, Diluted [Abstract]
Net Income (Loss) Available to Common Stockholders, Basic	$ 4	$ (61)
Net Income (Loss) Available to Common Stockholders, Diluted	$ 4	$ (61)
Weighted Average Number of Shares Outstanding, Diluted [Abstract]
Common Shares Outstanding	32,000	32,000
Weighted Average Shares - Basic and Diluted	31,938	31,938
Income (Loss) Per Share - Basic	$ 0.11	$ (1.92)
Income (Loss) Pe Share - Diluted	$ 0.11	$ (1.92)

FAIR VALUE - Assets and Liabili

FAIR VALUE - Assets and Liabilities Recorded at Fair Value on Recurring Basis (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed securities	$ 72,855,832	$ 65,178,231
Orchid Island Capital, Inc. common stock, at fair value	15,598,096	13,547,764
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed securities	0	0
Orchid Island Capital, Inc. common stock, at fair value	15,598,000	13,548,000
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed securities	72,856,000	65,178,000
Orchid Island Capital, Inc. common stock, at fair value	0	0
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed securities	0	0
Orchid Island Capital, Inc. common stock, at fair value	$ 0	$ 0

SEGMENT INFORMATION - Reconcili

SEGMENT INFORMATION - Reconciliation of Segment Revenues (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Segment Reporting, Revenue Reconciling Item [Line Items]
Advisory services, external customers	$ 2,025,409	$ 1,724,597
Advisory Services Other Segments	0	0
Interest and dividend income	1,117,000	2,405,000
Interest expense	290,000	1,278,000
Net Segment Revenue	2,852,000	2,852,000
Other Income	659,000	(16,077,000)
Operating Expenses	1,756,000	1,706,000
Intercompany Expenses	0	0
Pre-tax book income	1,754,533	(14,931,323)
Assets	137,233,034		$ 128,700,569
Operating Segments [Member] | Asset Management Segment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Advisory services, external customers	2,025,000	1,725,000
Advisory Services Other Segments	36,000	59,000
Interest and dividend income	0	0
Interest expense	0	0
Net Segment Revenue	2,061,000	1,784,000
Other Income	0	0
Operating Expenses	1,103,000	709,000
Intercompany Expenses	0	0
Pre-tax book income	958,000	1,075,000
Assets	1,700,000		1,469,000
Operating Segments [Member] | Investment Portfolio Segment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Advisory services, external customers	0	0
Advisory Services Other Segments	0	0
Interest and dividend income	1,117,000	2,405,000
Interest expense	40,000	928,000
Net Segment Revenue	1,077,000	1,477,000
Other Income	658,000	(15,563,000)
Operating Expenses	653,000	997,000
Intercompany Expenses	36,000	59,000
Pre-tax book income	1,046,000	(15,142,000)
Assets	122,894,000		113,764,000
Corporate, Non-Segment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Advisory services, external customers	0	0
Advisory Services Other Segments	0	0
Interest and dividend income	0	0
Interest expense	250,000	350,000
Net Segment Revenue	(250,000)	(350,000)
Other Income	1,000	(514,000)
Operating Expenses	0	0
Intercompany Expenses	0	0
Pre-tax book income	(249,000)	(864,000)
Assets	12,639,000		$ 13,468,000
Intersegment Eliminations [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Advisory services, external customers	0	0
Advisory Services Other Segments	(36,000)	(59,000)
Interest and dividend income	0	0
Interest expense	0	0
Net Segment Revenue	(36,000)	(59,000)
Other Income	0	0
Operating Expenses	0	0
Intercompany Expenses	(36,000)	(59,000)
Pre-tax book income	$ 0	$ 0

SEGMENT INFORMATION - Revenue F

SEGMENT INFORMATION - Revenue From Major Customer (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Entity Wide Revenue Major Customer [Line Items]
Revenues	$ 3,142,122	$ 4,129,400
Total Revenue [Member] | Orchid Island Capital [Member]
Entity Wide Revenue Major Customer [Line Items]
Revenues	$ 2,000,000	$ 1,700,000
Percentgage of Total Sales	64.00%	42.00%

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Related Party Transaction [Line Items]
Investment Income, Dividend	$ 506,095	$ 364,809
Orchid Island Capital [Member]
Related Party Transaction [Line Items]
Investment Owned Balance Shares	2,595,357		2,595,357
Equity Method Investment Ownership Percentage	2.80%		3.40%
Investment Income, Dividend	$ 500,000	$ 400,000

Uncategorized Items - bmnm10q20

Label	Element	Value
Common Stock [Member]
Common Stock Shares Outstanding	us-gaap_CommonStockSharesOutstanding	11,672,431