Bimini Capital Management (BMNM) 10-Q 3 Nov 23 2023 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2023	Nov. 03, 2023
Document Information [Line Items]
Entity Central Index Key	0001275477
Entity Registrant Name	BIMINI CAPITAL MANAGEMENT, INC.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2023
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	001-32171
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	72-1571637
Entity Address, Address Line One	3305 Flamingo Drive
Entity Address, City or Town	Vero Beach
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	32963
City Area Code	772
Local Phone Number	231-1400
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Common Class C [Member]
Document Information [Line Items]
Title of 12(b) Security	Class C Common Stock, $0.001 par value
Entity Common Stock, Shares Outstanding		31,938
Common Class B [Member]
Document Information [Line Items]
Title of 12(b) Security	Class B Common Stock, $0.001 par value
Entity Common Stock, Shares Outstanding		31,938
Common Class A [Member]
Document Information [Line Items]
Title of 12(b) Security	Class A Common Stock, $0.001 par value
Entity Common Stock, Shares Outstanding		10,005,457

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
ASSETS:
Total mortgage-backed securities	$ 84,861,161	$ 45,893,436
Cash and cash equivalents	3,793,312	6,010,799
Restricted cash	1,412,250	763,000
Orchid Island Capital, Inc. common stock, at fair value	4,842,794	5,975,248
Accrued interest receivable	420,919	204,018
Property and equipment, net	1,939,946	1,997,313
Deferred tax assets, net	23,498,839	23,178,243
Other assets	1,264,819	1,164,181
Total Assets	123,285,560	86,316,951
LIABILITIES:
Repurchase agreements	81,416,999	43,817,999
Long-term debt	27,400,415	27,416,239
Accrued interest payable	237,095	194,629
Other liabilities	1,247,833	2,764,005
Total Liabilities	110,302,342	74,192,872
COMMITMENTS AND CONTINGENCIES (Note 9)
STOCKHOLDERS' EQUITY:
Preferred stock, $0.001 par value; 10,000,000 shares authorized; 100,000 shares designated Series A Junior Preferred Stock, 9,900,000 shares undesignated; no shares issued and outstanding as of September 30, 2023 and December 31, 2022	0	0
Additional paid-in capital	329,815,150	329,828,268
Accumulated deficit	(316,842,001)	(317,714,273)
Total Stockholders’ Equity	12,983,218	12,124,079
Total Liabilities and Stockholders' Equity	123,285,560	86,316,951
Common Class A [Member]
STOCKHOLDERS' EQUITY:
Class A Common stock, $0.001 par value; 98,000,000 shares designated: 10,005,457 and 10,019,888 shares issued and outstanding as of September 30, 2023 and December 31, 2022	10,005	10,020
Common Class B [Member]
STOCKHOLDERS' EQUITY:
Class A Common stock, $0.001 par value; 98,000,000 shares designated: 10,005,457 and 10,019,888 shares issued and outstanding as of September 30, 2023 and December 31, 2022	32	32
Common Class C [Member]
STOCKHOLDERS' EQUITY:
Class A Common stock, $0.001 par value; 98,000,000 shares designated: 10,005,457 and 10,019,888 shares issued and outstanding as of September 30, 2023 and December 31, 2022	32	32
Related Party [Member]
ASSETS:
Due from affiliates	1,251,520	1,130,713
Asset Pledged as Collateral [Member]
ASSETS:
Total mortgage-backed securities	84,693,749	45,716,793
Restricted cash	1,412,000	763,000
Accrued interest receivable	417,000	200,000
Total Assets	86,523,000	46,680,000
Asset Not Pledged as Collateral [Member]
ASSETS:
Total mortgage-backed securities	$ 167,412	$ 176,643

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Sep. 30, 2023	Dec. 31, 2022
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, authorized (in shares)	10,000,000	10,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Series A Preferred Stock [Member]
Preferred stock, authorized (in shares)	100,000	100,000
Preferred Undesignated [Member]
Preferred stock, authorized (in shares)	9,900,000	9,900,000
Common Class A [Member]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized (in shares)	98,000,000	98,000,000
Common stock, issued (in shares)	10,005,457	10,019,888
Common stock, outstanding (in shares)	10,005,457	10,019,888
Common Class B [Member]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized (in shares)	1,000,000	1,000,000
Common stock, issued (in shares)	31,938	31,938
Common stock, outstanding (in shares)	31,938	31,938
Common Class C [Member]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized (in shares)	1,000,000	1,000,000
Common stock, issued (in shares)	31,938	31,938
Common stock, outstanding (in shares)	31,938	31,938

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenues:
Advisory services		$ 3,620,002	$ 3,311,962	$ 10,518,862	$ 9,719,703
Interest income		838,505	444,808	1,962,301	1,328,264
Dividend income from Orchid Island Capital, Inc. common stock		273,154	282,893	819,462	1,035,547
Total revenues		4,731,661	4,039,663	13,300,625	12,083,514
Interest expense:
Repurchase agreements		(831,068)	(209,928)	(1,903,101)	(313,843)
Long-term debt		(610,303)	(378,752)	(1,721,760)	(938,557)
Net revenues		3,290,290	3,450,983	9,675,764	10,831,114
Other income (expense):
Realized losses on mortgage-backed securities				0	(858,001)
Gains on derivative instruments		1,169,766	844,188	1,411,438	794,500
Gains on retained interests in securitizations		0	65,928	0	65,928
Other income		47	81	167	268
Other expense, net		(2,360,590)	(4,802,482)	(2,466,795)	(14,025,878)
Expenses:
Compensation and related benefits		1,258,297	1,230,113	3,900,039	3,835,763
Direct advisory services costs		316,637	358,928	1,137,935	915,134
Directors' fees and liability insurance		214,165	194,519	627,431	587,566
Audit, legal and other professional fees		119,231	103,090	427,210	370,323
Administrative and other expenses		197,094	190,657	564,678	506,872
Total expenses		2,105,424	2,077,307	6,657,293	6,215,658
Net income (loss) before income tax benefit	[1]	(1,175,724)	(3,428,806)	551,676	(9,410,422)
Income tax benefit		(757,016)	(255,618)	(320,596)	(1,571,076)
Net income (loss)		$ (418,708)	$ (3,173,188)	$ 872,272	$ (7,839,346)
Common Class A [Member]
Basic and Diluted Net Income (Loss) Per Share of:
Basic and Diluted (in dollars per share)		$ (0.04)	$ (0.31)	$ 0.09	$ (0.75)
Weighted Average Shares Outstanding:
Basic and Diluted (in shares)		10,018,163	10,288,785	10,019,307	10,467,091
Common Class B [Member]
Basic and Diluted Net Income (Loss) Per Share of:
Basic and Diluted (in dollars per share)		$ (0.04)	$ (0.31)	$ 0.09	$ (0.75)
Weighted Average Shares Outstanding:
Basic and Diluted (in shares)		31,938	31,938	31,938	31,938
Orchid Island Capital [Member]
Revenues:
Dividend income from Orchid Island Capital, Inc. common stock		$ 300,000	$ 300,000	$ 800,000	$ 1,000,000
Other income (expense):
Unrealized gains (losses) on investments		(1,047,091)	(3,140,383)	(1,132,454)	(7,422,723)
Collateralized Mortgage-Backed Securities [Member]
Other income (expense):
Unrealized gains (losses) on investments		(2,483,312)	(2,572,296)	(2,745,946)	(6,605,850)
Realized losses on mortgage-backed securities		$ 0	$ 0	$ 0	$ (858,001)
[1]Totals in the table above may not foot due to rounding differences.

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balances (in shares) at Dec. 31, 2021	10,766,070
Balances at Dec. 31, 2021	$ 10,766	$ 330,880,252	$ (297,891,168)	$ 32,999,850
Net income (loss)	$ 0	0	(3,479,584)	(3,479,584)
Class A common shares repurchased and retired (in shares)	(188,280)
Class A common shares repurchased and retired	$ (188)	(377,110)	0	(377,298)
Balances (in shares) at Mar. 31, 2022	10,577,790
Balances at Mar. 31, 2022	$ 10,578	330,503,142	(301,370,752)	29,142,968
Balances (in shares) at Dec. 31, 2021	10,766,070
Balances at Dec. 31, 2021	$ 10,766	330,880,252	(297,891,168)	32,999,850
Net income (loss)				(7,839,346)
Balances (in shares) at Sep. 30, 2022	10,310,685
Balances at Sep. 30, 2022	$ 10,311	330,068,058	(305,730,514)	24,347,855
Balances (in shares) at Mar. 31, 2022	10,577,790
Balances at Mar. 31, 2022	$ 10,578	330,503,142	(301,370,752)	29,142,968
Net income (loss)	$ 0	0	(1,186,574)	(1,186,574)
Class A common shares repurchased and retired (in shares)	(41,135)
Class A common shares repurchased and retired	$ (41)	(72,958)	0	(72,999)
Balances (in shares) at Jun. 30, 2022	10,536,655
Balances at Jun. 30, 2022	$ 10,537	330,430,184	(302,557,326)	27,883,395
Net income (loss)	$ 0	0	(3,173,188)	(3,173,188)
Class A common shares repurchased and retired (in shares)	(225,970)
Class A common shares repurchased and retired	$ (226)	(362,126)	0	(362,352)
Balances (in shares) at Sep. 30, 2022	10,310,685
Balances at Sep. 30, 2022	$ 10,311	330,068,058	(305,730,514)	24,347,855
Balances (in shares) at Dec. 31, 2022	10,083,764
Balances at Dec. 31, 2022	$ 10,084	329,828,268	(317,714,273)	12,124,079
Net income (loss)	$ 0	0	1,005,473	1,005,473
Balances (in shares) at Mar. 31, 2023	10,083,764
Balances at Mar. 31, 2023	$ 10,084	329,828,268	(316,708,800)	13,129,552
Balances (in shares) at Dec. 31, 2022	10,083,764
Balances at Dec. 31, 2022	$ 10,084	329,828,268	(317,714,273)	12,124,079
Net income (loss)				872,272
Balances (in shares) at Sep. 30, 2023	10,069,333
Balances at Sep. 30, 2023	$ 10,069	329,815,150	(316,842,001)	12,983,218
Balances (in shares) at Mar. 31, 2023	10,083,764
Balances at Mar. 31, 2023	$ 10,084	329,828,268	(316,708,800)	13,129,552
Net income (loss)	$ 0	0	285,507	285,507
Balances (in shares) at Jun. 30, 2023	10,083,764
Balances at Jun. 30, 2023	$ 10,084	329,828,268	(316,423,293)	13,415,059
Net income (loss)	$ 0	0	(418,708)	(418,708)
Class A common shares repurchased and retired (in shares)	(14,431)
Class A common shares repurchased and retired	$ (15)	(13,118)	0	(13,133)
Balances (in shares) at Sep. 30, 2023	10,069,333
Balances at Sep. 30, 2023	$ 10,069	$ 329,815,150	$ (316,842,001)	$ 12,983,218

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 872,272	$ (7,839,346)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation	57,367	53,930
Deferred income tax benefit	(320,596)	(1,571,076)
Realized losses on mortgage-backed securities	0	858,001
Gains on retained interests in securitizations	0	(65,928)
Changes in operating assets and liabilities:
Accrued interest receivable	(216,901)	29,838
Due from affiliates	(120,807)	(13,034)
Other assets	(100,638)	391,964
Accrued interest payable	42,466	79,128
Other liabilities	(1,516,172)	(1,241,306)
NET CASH PROVIDED BY OPERATING ACTIVITIES	2,575,391	4,710,744
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments received on retained interests in securitizations	0	65,928
Purchases of property and equipment	0	(46,176)
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES	(41,713,671)	9,089,518
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from repurchase agreements	380,920,000	268,710,690
Principal repayments on repurchase agreements	(343,321,000)	(284,094,690)
Principal repayments on long-term debt	(15,824)	(16,926)
Class A common shares repurchased and retired	(13,133)	(812,649)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	37,570,043	(16,213,575)
NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(1,568,237)	(2,413,313)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of the period	6,773,799	9,812,410
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of the period	5,205,562	7,399,097
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Interest expense	3,582,395	1,173,272
Orchid Island Capital [Member]
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Unrealized losses (gains) on investments	1,132,454	7,422,723
Collateralized Mortgage-Backed Securities [Member]
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Unrealized losses (gains) on investments	2,745,946	6,605,850
Realized losses on mortgage-backed securities	0	858,001
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases	(45,006,724)	(21,009,391)
Sales	0	23,096,853
Principal repayments	$ 3,293,053	$ 6,982,304

Note 1 - Organization and Signi

Note 1 - Organization and Significant Accounting Policies	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]	NOTE 1. Business Description Bimini Capital Management, Inc., a Maryland corporation (“Bimini Capital” and collectively with its subsidiaries, the “Company”) formed in September 2003, Royal Palm Capital, LLC maintains an investment portfolio, consisting primarily of MBS investments and shares of Orchid common stock, for its own benefit. Royal Palm Capital, LLC and its wholly-owned subsidiaries are collectively referred to as "Royal Palm." Bimini Advisors Holdings, LLC and its wholly-owned subsidiary, Bimini Advisors, LLC (an investment advisor registered with the Securities and Exchange Commission), are collectively referred to as "Bimini Advisors." Bimini Advisors manages a residential mortgage-backed securities (“MBS”) portfolio for Orchid Island Capital, Inc. ("Orchid") and receives fees for providing these services. Effective April 1, 2022, third Segment Reporting The Company’s operations are classified into two reportable segments: the asset management segment and the investment portfolio segment. These segments are evaluated by management in deciding how to allocate resources and in assessing performance. The accounting policies of the operating segments are the same as the Company’s accounting policies with the exception that inter-segment revenues and expenses are included in the presentation of segment results. For further information see Note 13. Consolidation The accompanying consolidated financial statements include the accounts of Bimini Capital and its subsidiaries, as listed above. All inter-company accounts and transactions have been eliminated from the consolidated financial statements. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10 8 X. may not nine three September 30, 2023 not may December 31, 2023 The consolidated balance sheet at December 31, 2022 not 10 December 31, 2022 Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates affecting the accompanying consolidated financial statements include determining the fair values of MBS and derivatives, the value of Orchid Common Stock, determining the amounts of asset valuation allowances, and the computation of the income tax provision or benefit and the deferred tax asset allowances recorded for each accounting period. Variable Interest Entities ( VIEs ) A variable interest entity ("VIE") is consolidated by an enterprise if it is deemed the primary beneficiary of the VIE. The Company obtains interests in VIEs through its investments in mortgage-backed securities. The interests in these VIEs are passive in nature and are not not 3. not not not not not 7. Cash and Cash Equivalents and Restricted Cash Cash and cash equivalents include cash on deposit with financial institutions and highly liquid investments with original maturities of three September 30, 2023 December 31, 2022 September 30, 2023 December 31, 2022 Cash and cash equivalents $ 3,793,312 $ 6,010,799 Restricted cash 1,412,250 763,000 Total cash, cash equivalents and restricted cash $ 5,205,562 $ 6,773,799 The Company maintains cash balances at several banks and excess margin with two may not $250,000 not Advisory Services Orchid is externally managed and advised by Bimini Advisors pursuant to the terms of a management agreement. See Note 2. 606, Revenue from Contracts with Customers Mortgage-Backed Securities The Company invests primarily in mortgage pass-through (“PT”) mortgage-backed securities issued by Freddie Mac, Fannie Mae or Ginnie Mae (“MBS”), collateralized mortgage obligations (“CMOs”), interest-only (“IO”) securities and inverse interest-only (“IIO”) securities representing interest in or obligations backed by pools of mortgage-backed loans. The Company refers to MBS and CMOs as PT MBS and IO and IIO securities as structured MBS. The Company has elected to account for its investment in MBS under the fair value option. Electing the fair value option requires the Company to record changes in fair value in the consolidated statement of operations, which, in management’s view, more appropriately reflects the results of the Company’s 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. Security purchases that have not not Fair value is defined as the price that would be received to sell the asset or paid to transfer the liability in an orderly transaction between market participants at the measurement date. The fair value measurement assumes that the transaction to sell the asset or transfer the liability either occurs in the principal market for the asset or liability, or in the absence of a principal market, occurs in the most advantageous market for the asset or liability. Estimated fair values for MBS are based on independent pricing sources and/or third Income on PT MBS is based on the stated interest rate of the security. Premiums or discounts present at the date of purchase are not Orchid Island Capital, Inc. Common Stock The Company accounts for its investment in Orchid common shares at fair value. The change in the fair value and dividends received on this investment are reflected in the consolidated statements of operations for each reporting period. We estimate the fair value of Orchid’s common shares on a market approach using “Level 1” Retained Interests in Securitizations The Company holds retained interests in the subordinated tranches of securities created in securitization transactions. The carrying value of these retained interests is zero, as the prospect of future cash flows being received is uncertain. Any cash received from the retained interests is reflected as a gain in the consolidated statements of operations. Derivative Financial Instruments The Company has historically used derivative instruments to manage interest rate risk, facilitate asset/liability strategies and manage other exposures, and it may may During the nine three September 30, 2023 2022, nine three September 30, 2023 nine three September 30, 2022. September 30, 2023 December 31, 2022, $14.4 Derivative instruments are carried at fair value, and changes in fair value are recorded in the consolidated operations for each period. The Company’s derivative financial instruments are not Holding derivatives creates exposure to credit risk related to the potential for failure by counterparties to honor their commitments. In the event of default by a counterparty, the Company may may not Financial Instruments The fair value of financial instruments is disclosed either in the body of the consolidated financial statements or in the accompanying notes. MBS, Orchid common stock and derivative assets and liabilities are accounted for at fair value in the consolidated balance sheets. The methods and assumptions used to estimate fair value for these instruments are presented in Note 12. Property and Equipment, net Property and equipment, net, consists of computer equipment with a depreciable life of 3 years, office furniture and equipment with depreciable lives of 8 to 20 years, land which has no Repurchase Agreements The Company finances the acquisition of the majority of its PT MBS through the use of repurchase agreements under master repurchase agreements. Repurchase agreements are accounted for as collateralized financing transactions, which are carried at their contractual amounts, including accrued interest, as specified in the respective agreements. Earnings Per Share Basic EPS is calculated as income available to common stockholders divided by the weighted average number of common shares outstanding during the period. Diluted EPS is calculated using the treasury stock or two not Outstanding shares of Class B Common Stock, participating and convertible into Class A Common Stock, are entitled to receive 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 two The shares of Class C Common Stock are not not not not Income Taxes Income taxes are provided for using the asset and liability method. Deferred tax assets and liabilities represent the differences between the financial statement and income tax bases of assets and liabilities using enacted tax rates. The measurement of net deferred tax assets is adjusted by a valuation allowance if, based on the Company’s evaluation, it is more likely than not not The Company’s U.S. federal income tax returns for years ended on or after December 31, 2020 The Company assesses the likelihood, based on their technical merit, that uncertain tax positions will be sustained upon examination based on the facts, circumstances and information available at the end of each period. The measurement of uncertain tax positions is adjusted when new information is available, or when an event occurs that requires a change. The Company recognizes tax positions in the consolidated financial statements only when it is more likely than not not Recent Accounting Pronouncements In March 2020, 2020 04 848 Facilitation of the Effects of Reference Rate Reform on Financial Reporting 2020 04 2020 04 not 2020 04 may December 31, 2022, December 2022, 2022 06 848 2020 04 December 31, 2022 December 31, 2024. second 2023 not In January 2021, 2021 01 848 2021 01 848 2021 01 2021 01 December 31, 2024, second 2023 not

Note 2 - Advisory Services

Note 2 - Advisory Services	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Advisory Services [Text Block]	NOTE 2. Bimini Advisors serves as the manager and advisor for Orchid pursuant to the terms of a management agreement. As Manager, Bimini Advisors is responsible for administering Orchid's business activities and day-to-day operations. Pursuant to the terms of the management agreement, Bimini Advisors provides Orchid with its management team, including its officers, along with appropriate support personnel. Bimini Advisors is at all times subject to the supervision and oversight of Orchid's board of directors and has only such functions and authority as delegated to it. Bimini Advisors receives a monthly management fee in the amount of: ● One- twelfth first $250 ● One- twelfth $250 $500 ● One- twelfth $500 On April 1, 2022, third November 16, 2021, third ● A daily fee equal to the outstanding principal balance of repurchase agreement funding in place as of the end of such day multiplied by 1.5 basis points for the amount of aggregate outstanding principal balance less than or equal to $5 $5 ● A fee for the clearing and operational services provided by personnel of the Manager equal to $10,000 per month. Orchid is obligated to reimburse Bimini Advisors for any direct expenses incurred on its behalf and to pay to Bimini Advisors an amount equal to Orchid's pro rata portion of certain overhead costs set forth in the management agreement. Orchid is required to pay Bimini Advisors by the 15th February 20, 2024 one The following table summarizes the advisory services revenue from Orchid for the nine three September 30, 2023 2022 (in thousands) Nine Months Ended September 30, Three Months Ended September 30, 2023 2022 2023 2022 Management fee $ 8,216 $ 7,881 $ 2,870 $ 2,616 Allocated overhead 1,772 1,482 557 522 Repurchase, Clearing and Administrative Fee 531 357 193 174 Total $ 10,519 $ 9,720 $ 3,620 $ 3,312 At September 30, 2023 December 31, 2022

Note 3 - Mortgage-backed Securi

Note 3 - Mortgage-backed Securities	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	NOTE 3. The following table presents the Company’s MBS portfolio as of September 30, 2023 December 31, 2022 (in thousands) September 30, 2023 Par Value Cost (1) Fair Value Par Value Cost (1) Fair Value Fixed-rate MBS $ 86,224 $ 88,417 $ 82,303 $ 44,963 $ 46,603 $ 42,974 Structured MBS (2) n/a 1,823 2,558 n/a 2,053 2,919 Total $ 86,224 $ 90,240 $ 84,861 $ 44,963 $ 48,656 $ 45,893 ( 1 The cost information in the table above represents the aggregate current par value, multiplied by the purchase price of each security in the portfolio. ( 2 The notional balance for the structured MBS portfolio was $19.4 $21.8 September 30, 2023 December 31, 2022, The following table is a summary of the Company’s net loss from the sale of RMBS for the nine September 30, 2023 2022. (in thousands) 2023 2022 Proceeds from sales of MBS $ - $ 23,097 Carrying value of MBS sold - (23,955 ) Net loss on sales of MBS $ - $ (858 ) Gross gain on sales of MBS $ - $ - Gross loss on sales of MBS - (858 ) Net loss on sales of MBS $ - $ (858 )

Note 4 - Repurchase Agreements

Note 4 - Repurchase Agreements	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block]	NOTE 4. The Company pledges certain of its MBS as collateral under repurchase agreements with financial institutions. Interest rates are generally fixed based on prevailing rates corresponding to the terms of the borrowings, and interest is generally paid at the termination of a borrowing. If the fair value of the pledged securities declines, lenders will typically require the Company to post additional collateral or pay down borrowings to re-establish agreed upon collateral requirements, referred to as "margin calls." Similarly, if the fair value of the pledged securities increases, lenders may September 30, 2023 As of September 30, 2023 December 31, 2022 ($ in thousands) OVERNIGHT BETWEEN 2 BETWEEN 31 GREATER (1 DAY OR AND AND THAN LESS) 30 DAYS 90 DAYS 90 DAYS TOTAL September 30, 2023 Fair value of securities pledged, including accrued interest receivable $ - $ 50,480 $ 34,631 $ - $ 85,111 Repurchase agreement liabilities associated with these securities $ - $ 47,888 $ 33,529 $ - $ 81,417 Net weighted average borrowing rate - 5.47 % 5.53 % - 5.50 % December 31, 2022 Fair value of securities pledged, including accrued interest receivable $ - $ 42,553 $ 3,364 $ - $ 45,917 Repurchase agreement liabilities associated with these securities $ - $ 40,492 $ 3,326 $ - $ 43,818 Net weighted average borrowing rate - 4.50 % 4.29 % - 4.48 % In addition, cash pledged to counterparties for repurchase agreements was approximately $0.7 million and $0.5 million as of September 30, 2023 December 31, 2022 If, during the term of a repurchase agreement, a lender files for bankruptcy, the Company might experience difficulty recovering its pledged assets, which could result in an unsecured claim against the lender for the difference between the amount loaned to the Company plus interest due to the counterparty and the fair value of the collateral pledged to such lender, including the accrued interest receivable, and cash posted by the Company as collateral, if any. At September 30, 2023 December 31, 2022 10% September 30, 2023 December 31, 2022 $ in thousands) % of Weighted Stockholders' Average Amount Equity Maturity Repurchase Agreement Counterparty at Risk at Risk (in Days) September 30, 2023 Citigroup Global Markets, Inc. $ 1,792 13.8 % 29 December 31, 2022 Mirae Asset Securities (USA), Inc. $ 1,322 10.9 % 14

Note 5 - Pledged Assets

Note 5 - Pledged Assets	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Pledged Assets [Text Block]	NOTE 5. Assets Pledged to Counterparties The table below summarizes Bimini’s assets pledged as collateral under its repurchase agreements and derivative agreements as of September 30, 2023 December 31, 2022 ($ in thousands) September 30, 2023 December 31, 2022 Repurchase Derivative Repurchase Derivative Agreements Agreements Total Agreements Agreements Total PT MBS - at fair value $ 82,303 $ - $ 82,303 $ 42,975 $ - $ 42,975 Structured MBS - at fair value 2,391 - 2,391 2,742 - 2,742 Accrued interest on pledged securities 417 - 417 200 - 200 Restricted cash 693 719 1,412 454 309 763 Total $ 85,804 $ 719 $ 86,523 $ 46,371 $ 309 $ 46,680 Assets Pledged from Counterparties The table below summarizes cash pledged to Bimini from counterparties under repurchase agreements as of September 30, 2023 December 31, 2022 ($ in thousands) Assets Pledged to Bimini September 30, 2023 December 31, 2022 Cash $ - $ 148 Total $ - $ 148

Note 6 - Offsetting Assets And

Note 6 - Offsetting Assets And Liabilities	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Offsetting Assets And Liabilities [Text Block]	NOTE 6. The Company’s derivatives and repurchase agreements are subject to underlying agreements with master netting or similar arrangements, which provide for the right of offset in the event of default or in the event of bankruptcy of either party to the transactions. The Company reports its assets and liabilities subject to these arrangements on a gross basis. The following tables present information regarding those assets and liabilities subject to such arrangements as if the Company had presented them on a net basis as of September 30, 2023 December 31, 2022 (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 September 30, 2023 Repurchase Agreements $ 81,417 $ - $ 81,417 $ (80,724 ) $ (693 ) $ - $ 81,417 $ - $ 81,417 $ (80,724 ) $ (693 ) $ - December 31, 2022 Repurchase Agreements $ 43,818 $ - $ 43,818 $ (43,364 ) $ (454 ) $ - $ 43,818 $ - $ 43,818 $ (43,364 ) $ (454 ) $ - The amounts disclosed for collateral received by or posted to the same counterparty are limited to the amount sufficient to reduce the asset or liability presented in the consolidated balance sheet to zero. The fair value of the actual collateral received by or posted to the same counterparty typically exceeds the amounts presented. See Note 5

Note 7 - Long-term Debt

Note 7 - Long-term Debt	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Debt Disclosure [Text Block]	NOTE 7. Long-term debt at September 30, 2023 December 31, 2022 (in thousands) September 30, 2023 December 31, 2022 Junior subordinated debt $ 26,804 $ 26,804 Secured note payable 596 612 Total $ 27,400 $ 27,416 Junior Subordinated Debt During 2005, third As of September 30, 2023 December 31, 2022 three September 30, 2023 June 30, 2023, three July 3, 2023. The Company's included consolidated financial statements present Bimini Capital's BCTII Junior Subordinated Notes issued to BCTII as a liability and Bimini Capital's investment in the common equity securities of BCTII as an asset (included in other assets). For financial statement purposes, Bimini Capital records payments of interest on the Junior Subordinated Notes issued to BCTII as interest expense. Secured Note Payable On October 30, 2019, October 30, 2039. October 30, 2024. 5 The table below presents the future scheduled principal payments on the Company’s long-term debt. (in thousands) Last three months of 2023 $ 7 For the years ended: 2024 25 2025 26 2026 28 2027 29 After 2027 27,285 Total $ 27,400

Note 8 - Common Stock

Note 8 - Common Stock	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Equity [Text Block]	NOTE 8. There were no issuances of Bimini Capital's Class A Common Stock, Class B Common Stock or Class C Common Stock during the nine September 30, 2023 2022 Stock Repurchase Plans On March 26, 2018, “2018 2018 10b 18 1934. 2018 September 16, 2021. On September 16, 2021, 10b5 1 1934 “2021 2021 not 2021 September 16, 2023 not 2021 September 16, 2023, The Inflation Reduction Act of 2022 August 2022 1% $1 2023. nine September 30, 2023 $1 no 2023.

Note 9 - Commitments and Contin

Note 9 - Commitments and Contingencies	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	NOTE 9. From time to time, the Company may In April 2020 November 2021, 2007. Management is not September 30, 2023

Note 10 - Income Taxes

Note 10 - Income Taxes	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE 10. The total income tax benefit recorded for the nine September 30, 2023 2022 three September 30, 2023 2022 nine three September 30, 2023 The Company’s tax provisions are based on a projected effective rate based on annualized amounts applied to actual income to date and includes the expected realization of a portion of the tax benefits of federal and state net operating losses carryforwards (“NOLs”). In assessing the realizability of deferred tax assets, management considers whether it is more likely than not not not not

Note 11 - Earnings Per Share

Note 11 - Earnings Per Share	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Earnings Per Share [Text Block]	NOTE 11. Shares of Class B common stock, participating and convertible into Class A common stock, are entitled to receive dividends in an amount equal to the dividends declared on each share of Class A common stock if, and when, authorized and declared by the Board of Directors. The Class B common stock is included in the computation of basic EPS using the two not not September 30, 2023 2022 Shares of Class C common stock are not not not not September 30, 2023 2022 The table below reconciles the numerator and denominator of EPS for the nine three September 30, 2023 2022 (in thousands, except per-share information) Nine Months Ended September 30, Three Months Ended September 30, 2023 2022 2023 2022 Basic and diluted EPS per Class A common share: Loss attributable to Class A common shares: Basic and diluted $ 869 $ (7,815 ) $ (418 ) $ (3,163 ) Weighted average common shares: Class A common shares outstanding at the balance sheet date 10,005 10,247 10,005 10,247 Effect of weighting 14 220 13 42 Weighted average shares-basic and diluted 10,019 10,467 10,018 10,289 Loss per Class A common share: Basic and diluted $ 0.09 $ (0.75 ) $ (0.04 ) $ (0.31 ) (in thousands, except per-share information) Nine Months Ended September 30, Three Months Ended September 30, 2023 2022 2023 2022 Basic and diluted EPS per Class B common share: Loss attributable to Class B common shares: Basic and diluted $ 3 $ (24 ) $ (1 ) $ (10 ) Weighted average common shares: Class B common shares outstanding at the balance sheet date 32 32 32 32 Weighted average shares-basic and diluted 32 32 32 32 Loss per Class B common share: Basic and diluted $ 0.09 $ (0.75 ) $ (0.04 ) $ (0.31 )

Note 12 - Fair Value

Note 12 - Fair Value	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Fair Value Disclosures [Text Block]	NOTE 12. Fair value is the price that would be received to sell an asset or paid to transfer a liability (an exit price). A fair value measure should reflect the assumptions that market participants would use in pricing the asset or liability, including the assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset and the risk of non-performance. Required disclosures include stratification of balance sheet amounts measured at fair value based on inputs the Company uses to derive fair value measurements. These stratifications are: ● Level 1 ● Level 2 not ● Level 3 not may not MBS, Orchid common stock, retained interests and TBA securities were all recorded at fair value on a recurring basis as of September 30, 2023 December 31, 2022. not The Company's MBS and TBA securities are valued using Level 2 third may zero The Company’s futures contracts are Level 1 September 30, 2023 December 31, 2022 3 The estimated fair value of cash and cash equivalents, restricted cash, accrued interest receivable, other assets, repurchase agreements, accrued interest payable and other liabilities approximate their carrying value as Level 1 September 30, 2023 December 31, 2022 7. The following table presents financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2023 December 31, 2022 (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) September 30, 2023 Mortgage-backed securities $ 84,861 $ - $ 84,861 $ - Orchid Island Capital, Inc. common stock 4,843 4,843 - - December 31, 2022 Mortgage-backed securities $ 45,893 $ - $ 45,893 $ - Orchid Island Capital, Inc. common stock 5,975 5,975 - - During the nine September 30, 2023 2022 no 1, 2 3.

Note 13 - Segment Information

Note 13 - Segment Information	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	NOTE 13. The Company’s operations are classified into two principal reportable segments: the asset management segment and the investment portfolio segment. The asset management segment includes the investment advisory services provided by Bimini Advisors to Orchid and Royal Palm. As discussed in Note 2, nine three September 30, 2023 nine three September 30, 2022 The investment portfolio segment includes the investment activities conducted by Royal Palm. The investment portfolio segment receives revenue in the form of interest and dividend income on its investments. Segment information for the nine September 30, 2023 2022 (in thousands) Asset Investment Management Portfolio Corporate Eliminations Total 2023 Advisory services, external customers $ 10,519 $ - $ - $ - $ 10,519 Advisory services, other operating segments (1) 89 - - (89 ) - Interest and dividend income - 2,780 2 - 2,782 Interest expense (2) - (1,903 ) (1,722 ) - (3,625 ) Net revenues 10,608 877 (1,720 ) (89 ) 9,676 Other expenses - (2,467 ) - - (2,467 ) Operating expenses (3) (5,174 ) (1,483 ) - - (6,657 ) Intercompany expenses (1) - (89 ) - 89 - Income (loss) before income taxes (4) $ 5,434 $ (3,162 ) $ (1,720 ) $ - $ 552 Asset Investment Management Portfolio Corporate Eliminations Total 2022 Advisory services, external customers $ 9,720 $ - $ - $ - $ 9,720 Advisory services, other operating segments (1) 85 - - (85 ) - Interest and dividend income - 2,364 - - 2,364 Interest expense (2) - (314 ) (938 ) - (1,252 ) Net revenues 9,805 2,050 (938 ) (85 ) 10,832 Other (expenses) revenue - (14,092 ) 66 - (14,026 ) Operating expenses (3) (4,914 ) (1,302 ) - - (6,216 ) Intercompany expenses (1) - (85 ) - 85 - Income (loss) before income taxes (4) $ 4,891 $ (13,429 ) $ (872 ) $ - $ (9,410 ) Segment information for the three September 30, 2023 2022 (in thousands) Asset Investment Management Portfolio Corporate Eliminations Total 2023 Advisory services, external customers $ 3,620 $ - $ - $ - $ 3,620 Advisory services, other operating segments (1) 33 - - (33 ) - Interest and dividend income - 1,110 1 - 1,111 Interest expense (2) - (831 ) (610 ) - (1,441 ) Net revenues 3,653 279 (609 ) (33 ) 3,290 Other expenses - (2,361 ) - - (2,361 ) Operating expenses (3) (1,582 ) (523 ) - - (2,105 ) Intercompany expenses (1) - (33 ) - 33 - Income (loss) before income taxes (4) $ 2,071 $ (2,638 ) $ (609 ) $ - $ (1,176 ) Asset Investment Management Portfolio Corporate Eliminations Total 2022 Advisory services, external customers $ 3,312 $ - $ - $ - $ 3,312 Advisory services, other operating segments (1) 29 - - (29 ) - Interest and dividend income - 728 - - 728 Interest expense (2) - (210 ) (379 ) - (589 ) Net revenues 3,341 518 (379 ) (29 ) 3,451 Other (expenses) revenue - (4,868 ) 66 - (4,802 ) Operating expenses (3) (1,677 ) (401 ) - - (2,078 ) Intercompany expenses (1) - (29 ) - 29 - Income (loss) before income taxes (4) $ 1,664 $ (4,780 ) $ (313 ) $ - $ (3,429 ) ( 1 Includes fees paid by Royal Palm to Bimini Advisors for advisory services. ( 2 Includes interest on repurchase agreements in the Investment Portfolio column and long-term debt in the Corporate column. ( 3 Operating expenses are allocated based on each segment’s proportional share of total revenues. ( 4 Totals in the table above may not Assets in each reportable segment as of September 30, 2023 December 31, 2022 (in thousands) Asset Investment Management Portfolio Corporate Total September 30, 2023 $ 2,144 $ 113,934 7,208 $ 123,286 December 31, 2022 1,970 77,483 6,864 86,317

Note 14 - Related Party Transac

Note 14 - Related Party Transactions	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	NOTE 14. Relationships with Orchid At both September 30, 2023 December 31, 2022 nine September 30, 2023 2022 three September 30, 2023 2022, 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, is eligible to receive compensation from Orchid, and owns shares of common stock of Orchid. In addition, Hunter Haas, the Chief Financial Officer, Chief Investment Officer and Treasurer of the Company, also 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. Robert J. Dwyer and Frank E. Jaumot, who are the Company's independent directors, each own shares of common stock of Orchid.

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Segment Reporting, Policy [Policy Text Block]	Segment Reporting The Company’s operations are classified into two reportable segments: the asset management segment and the investment portfolio segment. These segments are evaluated by management in deciding how to allocate resources and in assessing performance. The accounting policies of the operating segments are the same as the Company’s accounting policies with the exception that inter-segment revenues and expenses are included in the presentation of segment results. For further information see Note 13.
Consolidation, Policy [Policy Text Block]	Consolidation The accompanying consolidated financial statements include the accounts of Bimini Capital and its subsidiaries, as listed above. All inter-company accounts and transactions have been eliminated from the consolidated financial statements.
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10 8 X. may not nine three September 30, 2023 not may December 31, 2023 The consolidated balance sheet at December 31, 2022 not 10 December 31, 2022
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates affecting the accompanying consolidated financial statements include determining the fair values of MBS and derivatives, the value of Orchid Common Stock, determining the amounts of asset valuation allowances, and the computation of the income tax provision or benefit and the deferred tax asset allowances recorded for each accounting period.
Consolidation, Variable Interest Entity, Policy [Policy Text Block]	Variable Interest Entities ( VIEs ) A variable interest entity ("VIE") is consolidated by an enterprise if it is deemed the primary beneficiary of the VIE. The Company obtains interests in VIEs through its investments in mortgage-backed securities. The interests in these VIEs are passive in nature and are not not 3. not not not not not 7.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents and Restricted Cash Cash and cash equivalents include cash on deposit with financial institutions and highly liquid investments with original maturities of three September 30, 2023 December 31, 2022 September 30, 2023 December 31, 2022 Cash and cash equivalents $ 3,793,312 $ 6,010,799 Restricted cash 1,412,250 763,000 Total cash, cash equivalents and restricted cash $ 5,205,562 $ 6,773,799 The Company maintains cash balances at several banks and excess margin with two may not $250,000 not
Advisory Services [Policy Text Block]	Advisory Services Orchid is externally managed and advised by Bimini Advisors pursuant to the terms of a management agreement. See Note 2. 606, Revenue from Contracts with Customers
Marketable Securities, Policy [Policy Text Block]	Mortgage-Backed Securities The Company invests primarily in mortgage pass-through (“PT”) mortgage-backed securities issued by Freddie Mac, Fannie Mae or Ginnie Mae (“MBS”), collateralized mortgage obligations (“CMOs”), interest-only (“IO”) securities and inverse interest-only (“IIO”) securities representing interest in or obligations backed by pools of mortgage-backed loans. The Company refers to MBS and CMOs as PT MBS and IO and IIO securities as structured MBS. The Company has elected to account for its investment in MBS under the fair value option. Electing the fair value option requires the Company to record changes in fair value in the consolidated statement of operations, which, in management’s view, more appropriately reflects the results of the Company’s 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. Security purchases that have not not Fair value is defined as the price that would be received to sell the asset or paid to transfer the liability in an orderly transaction between market participants at the measurement date. The fair value measurement assumes that the transaction to sell the asset or transfer the liability either occurs in the principal market for the asset or liability, or in the absence of a principal market, occurs in the most advantageous market for the asset or liability. Estimated fair values for MBS are based on independent pricing sources and/or third Income on PT MBS is based on the stated interest rate of the security. Premiums or discounts present at the date of purchase are not
Investment, Policy [Policy Text Block]	Orchid Island Capital, Inc. Common Stock The Company accounts for its investment in Orchid common shares at fair value. The change in the fair value and dividends received on this investment are reflected in the consolidated statements of operations for each reporting period. We estimate the fair value of Orchid’s common shares on a market approach using “Level 1”
Assets or Liabilities that Relate to Transferor's Continuing Involvement in Securitized or Asset-Backed Financing Assets, Policy [Policy Text Block]	Retained Interests in Securitizations The Company holds retained interests in the subordinated tranches of securities created in securitization transactions. The carrying value of these retained interests is zero, as the prospect of future cash flows being received is uncertain. Any cash received from the retained interests is reflected as a gain in the consolidated statements of operations.
Derivatives, Policy [Policy Text Block]	Derivative Financial Instruments The Company has historically used derivative instruments to manage interest rate risk, facilitate asset/liability strategies and manage other exposures, and it may may During the nine three September 30, 2023 2022, nine three September 30, 2023 nine three September 30, 2022. September 30, 2023 December 31, 2022, $14.4 Derivative instruments are carried at fair value, and changes in fair value are recorded in the consolidated operations for each period. The Company’s derivative financial instruments are not Holding derivatives creates exposure to credit risk related to the potential for failure by counterparties to honor their commitments. In the event of default by a counterparty, the Company may may not
Fair Value of Financial Instruments, Policy [Policy Text Block]	Financial Instruments The fair value of financial instruments is disclosed either in the body of the consolidated financial statements or in the accompanying notes. MBS, Orchid common stock and derivative assets and liabilities are accounted for at fair value in the consolidated balance sheets. The methods and assumptions used to estimate fair value for these instruments are presented in Note 12.
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment, net Property and equipment, net, consists of computer equipment with a depreciable life of 3 years, office furniture and equipment with depreciable lives of 8 to 20 years, land which has no
Repurchase and Resale Agreements Policy [Policy Text Block]	Repurchase Agreements The Company finances the acquisition of the majority of its PT MBS through the use of repurchase agreements under master repurchase agreements. Repurchase agreements are accounted for as collateralized financing transactions, which are carried at their contractual amounts, including accrued interest, as specified in the respective agreements.
Earnings Per Share, Policy [Policy Text Block]	Earnings Per Share Basic EPS is calculated as income available to common stockholders divided by the weighted average number of common shares outstanding during the period. Diluted EPS is calculated using the treasury stock or two not Outstanding shares of Class B Common Stock, participating and convertible into Class A Common Stock, are entitled to receive 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 two The shares of Class C Common Stock are not not not not
Income Tax, Policy [Policy Text Block]	Income Taxes Income taxes are provided for using the asset and liability method. Deferred tax assets and liabilities represent the differences between the financial statement and income tax bases of assets and liabilities using enacted tax rates. The measurement of net deferred tax assets is adjusted by a valuation allowance if, based on the Company’s evaluation, it is more likely than not not The Company’s U.S. federal income tax returns for years ended on or after December 31, 2020 The Company assesses the likelihood, based on their technical merit, that uncertain tax positions will be sustained upon examination based on the facts, circumstances and information available at the end of each period. The measurement of uncertain tax positions is adjusted when new information is available, or when an event occurs that requires a change. The Company recognizes tax positions in the consolidated financial statements only when it is more likely than not not
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements In March 2020, 2020 04 848 Facilitation of the Effects of Reference Rate Reform on Financial Reporting 2020 04 2020 04 not 2020 04 may December 31, 2022, December 2022, 2022 06 848 2020 04 December 31, 2022 December 31, 2024. second 2023 not In January 2021, 2021 01 848 2021 01 848 2021 01 2021 01 December 31, 2024, second 2023 not

Note 1 - Organization and Sig_2

Note 1 - Organization and Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule of Cash and Cash Equivalents [Table Text Block]	September 30, 2023 December 31, 2022 Cash and cash equivalents $ 3,793,312 $ 6,010,799 Restricted cash 1,412,250 763,000 Total cash, cash equivalents and restricted cash $ 5,205,562 $ 6,773,799

Note 2 - Advisory Services (Tab

Note 2 - Advisory Services (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule of Advisory Fee Income [Table Text Block]	(in thousands) Nine Months Ended September 30, Three Months Ended September 30, 2023 2022 2023 2022 Management fee $ 8,216 $ 7,881 $ 2,870 $ 2,616 Allocated overhead 1,772 1,482 557 522 Repurchase, Clearing and Administrative Fee 531 357 193 174 Total $ 10,519 $ 9,720 $ 3,620 $ 3,312

Note 3 - Mortgage-backed Secu_2

Note 3 - Mortgage-backed Securities (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Marketable Securities [Table Text Block]	(in thousands) September 30, 2023 Par Value Cost (1) Fair Value Par Value Cost (1) Fair Value Fixed-rate MBS $ 86,224 $ 88,417 $ 82,303 $ 44,963 $ 46,603 $ 42,974 Structured MBS (2) n/a 1,823 2,558 n/a 2,053 2,919 Total $ 86,224 $ 90,240 $ 84,861 $ 44,963 $ 48,656 $ 45,893
Gain (Loss) on Securities [Table Text Block]	(in thousands) 2023 2022 Proceeds from sales of MBS $ - $ 23,097 Carrying value of MBS sold - (23,955 ) Net loss on sales of MBS $ - $ (858 ) Gross gain on sales of MBS $ - $ - Gross loss on sales of MBS - (858 ) Net loss on sales of MBS $ - $ (858 )

Note 4 - Repurchase Agreements

Note 4 - Repurchase Agreements (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule of Repurchase Agreements [Table Text Block]	($ in thousands) OVERNIGHT BETWEEN 2 BETWEEN 31 GREATER (1 DAY OR AND AND THAN LESS) 30 DAYS 90 DAYS 90 DAYS TOTAL September 30, 2023 Fair value of securities pledged, including accrued interest receivable $ - $ 50,480 $ 34,631 $ - $ 85,111 Repurchase agreement liabilities associated with these securities $ - $ 47,888 $ 33,529 $ - $ 81,417 Net weighted average borrowing rate - 5.47 % 5.53 % - 5.50 % December 31, 2022 Fair value of securities pledged, including accrued interest receivable $ - $ 42,553 $ 3,364 $ - $ 45,917 Repurchase agreement liabilities associated with these securities $ - $ 40,492 $ 3,326 $ - $ 43,818 Net weighted average borrowing rate - 4.50 % 4.29 % - 4.48 %
Schedule of Repurchase Agreement Counterparties with Whom Repurchase Agreements Exceed 10 Percent of Stockholders' Equity [Table Text Block]	$ in thousands) % of Weighted Stockholders' Average Amount Equity Maturity Repurchase Agreement Counterparty at Risk at Risk (in Days) September 30, 2023 Citigroup Global Markets, Inc. $ 1,792 13.8 % 29 December 31, 2022 Mirae Asset Securities (USA), Inc. $ 1,322 10.9 % 14

Note 5 - Pledged Assets (Tables

Note 5 - Pledged Assets (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule of Financial Instruments Owned and Pledged as Collateral [Table Text Block]	($ in thousands) September 30, 2023 December 31, 2022 Repurchase Derivative Repurchase Derivative Agreements Agreements Total Agreements Agreements Total PT MBS - at fair value $ 82,303 $ - $ 82,303 $ 42,975 $ - $ 42,975 Structured MBS - at fair value 2,391 - 2,391 2,742 - 2,742 Accrued interest on pledged securities 417 - 417 200 - 200 Restricted cash 693 719 1,412 454 309 763 Total $ 85,804 $ 719 $ 86,523 $ 46,371 $ 309 $ 46,680
Schedule of Financial Instruments Pledged as Collateral From Counterparties [Table Text Block]	($ in thousands) Assets Pledged to Bimini September 30, 2023 December 31, 2022 Cash $ - $ 148 Total $ - $ 148

Note 6 - Offsetting Assets An_2

Note 6 - Offsetting Assets And Liabilities (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Offsetting Liabilities [Table Text Block]	(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 September 30, 2023 Repurchase Agreements $ 81,417 $ - $ 81,417 $ (80,724 ) $ (693 ) $ - $ 81,417 $ - $ 81,417 $ (80,724 ) $ (693 ) $ - December 31, 2022 Repurchase Agreements $ 43,818 $ - $ 43,818 $ (43,364 ) $ (454 ) $ - $ 43,818 $ - $ 43,818 $ (43,364 ) $ (454 ) $ -

Note 7 - Long-term Debt (Tables

Note 7 - Long-term Debt (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule of Long-Term Debt Instruments [Table Text Block]	(in thousands) September 30, 2023 December 31, 2022 Junior subordinated debt $ 26,804 $ 26,804 Secured note payable 596 612 Total $ 27,400 $ 27,416
Schedule of Maturities of Long-Term Debt [Table Text Block]	(in thousands) Last three months of 2023 $ 7 For the years ended: 2024 25 2025 26 2026 28 2027 29 After 2027 27,285 Total $ 27,400

Note 11 - Earnings Per Share (T

Note 11 - Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	(in thousands, except per-share information) Nine Months Ended September 30, Three Months Ended September 30, 2023 2022 2023 2022 Basic and diluted EPS per Class A common share: Loss attributable to Class A common shares: Basic and diluted $ 869 $ (7,815 ) $ (418 ) $ (3,163 ) Weighted average common shares: Class A common shares outstanding at the balance sheet date 10,005 10,247 10,005 10,247 Effect of weighting 14 220 13 42 Weighted average shares-basic and diluted 10,019 10,467 10,018 10,289 Loss per Class A common share: Basic and diluted $ 0.09 $ (0.75 ) $ (0.04 ) $ (0.31 ) (in thousands, except per-share information) Nine Months Ended September 30, Three Months Ended September 30, 2023 2022 2023 2022 Basic and diluted EPS per Class B common share: Loss attributable to Class B common shares: Basic and diluted $ 3 $ (24 ) $ (1 ) $ (10 ) Weighted average common shares: Class B common shares outstanding at the balance sheet date 32 32 32 32 Weighted average shares-basic and diluted 32 32 32 32 Loss per Class B common share: Basic and diluted $ 0.09 $ (0.75 ) $ (0.04 ) $ (0.31 )

Note 12 - Fair Value (Tables)

Note 12 - Fair Value (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	(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) September 30, 2023 Mortgage-backed securities $ 84,861 $ - $ 84,861 $ - Orchid Island Capital, Inc. common stock 4,843 4,843 - - December 31, 2022 Mortgage-backed securities $ 45,893 $ - $ 45,893 $ - Orchid Island Capital, Inc. common stock 5,975 5,975 - -

Note 13 - Segment Information (

Note 13 - Segment Information (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	(in thousands) Asset Investment Management Portfolio Corporate Eliminations Total 2023 Advisory services, external customers $ 10,519 $ - $ - $ - $ 10,519 Advisory services, other operating segments (1) 89 - - (89 ) - Interest and dividend income - 2,780 2 - 2,782 Interest expense (2) - (1,903 ) (1,722 ) - (3,625 ) Net revenues 10,608 877 (1,720 ) (89 ) 9,676 Other expenses - (2,467 ) - - (2,467 ) Operating expenses (3) (5,174 ) (1,483 ) - - (6,657 ) Intercompany expenses (1) - (89 ) - 89 - Income (loss) before income taxes (4) $ 5,434 $ (3,162 ) $ (1,720 ) $ - $ 552 Asset Investment Management Portfolio Corporate Eliminations Total 2022 Advisory services, external customers $ 9,720 $ - $ - $ - $ 9,720 Advisory services, other operating segments (1) 85 - - (85 ) - Interest and dividend income - 2,364 - - 2,364 Interest expense (2) - (314 ) (938 ) - (1,252 ) Net revenues 9,805 2,050 (938 ) (85 ) 10,832 Other (expenses) revenue - (14,092 ) 66 - (14,026 ) Operating expenses (3) (4,914 ) (1,302 ) - - (6,216 ) Intercompany expenses (1) - (85 ) - 85 - Income (loss) before income taxes (4) $ 4,891 $ (13,429 ) $ (872 ) $ - $ (9,410 ) (in thousands) Asset Investment Management Portfolio Corporate Eliminations Total 2023 Advisory services, external customers $ 3,620 $ - $ - $ - $ 3,620 Advisory services, other operating segments (1) 33 - - (33 ) - Interest and dividend income - 1,110 1 - 1,111 Interest expense (2) - (831 ) (610 ) - (1,441 ) Net revenues 3,653 279 (609 ) (33 ) 3,290 Other expenses - (2,361 ) - - (2,361 ) Operating expenses (3) (1,582 ) (523 ) - - (2,105 ) Intercompany expenses (1) - (33 ) - 33 - Income (loss) before income taxes (4) $ 2,071 $ (2,638 ) $ (609 ) $ - $ (1,176 ) Asset Investment Management Portfolio Corporate Eliminations Total 2022 Advisory services, external customers $ 3,312 $ - $ - $ - $ 3,312 Advisory services, other operating segments (1) 29 - - (29 ) - Interest and dividend income - 728 - - 728 Interest expense (2) - (210 ) (379 ) - (589 ) Net revenues 3,341 518 (379 ) (29 ) 3,451 Other (expenses) revenue - (4,868 ) 66 - (4,802 ) Operating expenses (3) (1,677 ) (401 ) - - (2,078 ) Intercompany expenses (1) - (29 ) - 29 - Income (loss) before income taxes (4) $ 1,664 $ (4,780 ) $ (313 ) $ - $ (3,429 )
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	(in thousands) Asset Investment Management Portfolio Corporate Total September 30, 2023 $ 2,144 $ 113,934 7,208 $ 123,286 December 31, 2022 1,970 77,483 6,864 86,317

Note 1 - Organization and Sig_3

Note 1 - Organization and Significant Accounting Policies (Details Textual)	3 Months Ended		9 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Number of Operating Segments			2
Number of Reportable Segments			2
Gain (Loss) on Derivative Instruments Held for Trading Purposes, Net	$ 1,169,766	$ 844,188	$ 1,411,438	$ 794,500
Computer Equipment [Member]
Property, Plant and Equipment, Useful Life (Year)	3 years		3 years
Office Furniture and Equipment [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)	8 years		8 years
Office Furniture and Equipment [Member] | Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)	20 years		20 years
Building and Building Improvements [Member]
Property, Plant and Equipment, Useful Life (Year)	30 years		30 years
Treasury Note Future [Member]
Gain (Loss) on Derivative Instruments Held for Trading Purposes, Net	$ 1,200,000	$ (800,000)	$ 1,400,000	$ 800,000
Derivative, Notional Amount	$ 36,400,000		$ 36,400,000		$ 14,400,000

Note 1 - Organization and Sig_4

Note 1 - Organization and Significant Accounting Policies - Summary of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Cash and cash equivalents	$ 3,793,312	$ 6,010,799
Restricted cash	1,412,250	763,000
Total cash, cash equivalents and restricted cash	$ 5,205,562	$ 6,773,799

Note 2 - Advisory Services (Det

Note 2 - Advisory Services (Details Textual) - Orchid Island Capital [Member]	9 Months Ended
	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Apr. 01, 2022 USD ($)
Monthly Management Fee, Calculation, Multiplier to Percentage of Equity	0.0833
Monthly Management Fee, Percentage of Equity, First 250 Million	1.50%
Monthly Management Fee, Percentage of Equity, Between 250 and 500 Million	1.25%
Monthly Management Fee, Percentage of Equity, Over 500 Million	1%
Daily Fee, Rate Multiplied By Repurchase Agreements Balance if Less than Five Billion			0.015%
Daily Fee, Rate Multiplied By Repurchase Agreements Balance if More than Five Billion			0.01%
Clearing and Operational Services Fee Per Month			$ 10,000
Management Agreement, Extension Period (Year)	1 year
Management Agreement, Termination Fee, Multiplied by Average Management Fee	3
Accounts Receivable, after Allowance for Credit Loss	$ 1,300,000	$ 1,100,000

Note 2 - Advisory Services - Ad

Note 2 - Advisory Services - Advisory Service Revenue (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Advisory services	$ 3,620,002	$ 3,311,962	$ 10,518,862	$ 9,719,703
Orchid Island Capital [Member]
Advisory services	3,620,000	3,312,000	10,519,000	9,720,000
Management Service [Member] | Orchid Island Capital [Member]
Advisory services	2,870,000	2,616,000	8,216,000	7,881,000
Allocated Overhead [Member] | Orchid Island Capital [Member]
Advisory services	557,000	522,000	1,772,000	1,482,000
Repurchase, Clearing and Administrative Fee [Member] | Orchid Island Capital [Member]
Advisory services	$ 193,000	$ 174,000	$ 531,000	$ 357,000

Note 3 - Mortgage-backed Secu_3

Note 3 - Mortgage-backed Securities (Details Textual) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Structured Mortgage-backed Securities [Member]
Notional Amount of Nonderivative Instruments	$ 19.4	$ 21.8

Note 3 - Mortgage-backed Secu_4

Note 3 - Mortgage-backed Securities - MBS Portfolio (Details) - USD ($) $ in Thousands		Sep. 30, 2023	Dec. 31, 2022
Fixed Rate Mortgages [Member]
Par value		$ 86,224	$ 44,963
Cost	[1]	88,417	46,603
Fair value		82,303	42,974
Structured Mortgage-backed Securities [Member]
Cost	[1],[2]	1,823	2,053
Fair value	[2]	2,558	2,919
Collateralized Mortgage-Backed Securities [Member]
Par value		86,224	44,963
Cost	[1]	90,240	48,656
Fair value		$ 84,861	$ 45,893
[1]The cost information in the table above represents the aggregate current par value, multiplied by the purchase price of each security in the portfolio.[2]The notional balance for the structured MBS portfolio was $19.4 million and $21.8 million as of September 30, 2023 and December 31, 2022, respectively.

Note 3 - Mortgage-backed Secu_5

Note 3 - Mortgage-backed Securities - Net Gain (Loss) From Sale of MBS (Details) - Collateralized Mortgage-Backed Securities [Member] - USD ($)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Proceeds from sales of MBS	$ 0	$ 23,096,853
Carrying value of MBS sold	0	(23,955,000)
Net loss on sales of MBS	0	(858,000)
Gross gain on sales of MBS	0	0
Gross loss on sales of MBS	$ 0	$ (858,000)

Note 4 - Repurchase Agreement_2

Note 4 - Repurchase Agreements (Details Textual) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Restricted Cash and Cash Equivalents, Current	$ 1,412,250	$ 763,000
Repurchase Agreement Counterparty, Amount at Risk	4,300,000	2,500,000
Asset Pledged as Collateral [Member]
Restricted Cash and Cash Equivalents, Current	1,412,000	763,000
Securities Sold under Agreements to Repurchase [Member] | Asset Pledged as Collateral [Member]
Restricted Cash and Cash Equivalents, Current	$ 693,000	$ 454,000

Note 4 - Repurchase Agreement_3

Note 4 - Repurchase Agreements - Schedule of Repurchase Agreements (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair value of securities pledged, including accrued interest receivable	$ 85,111	$ 45,917
Repurchase agreement liabilities associated with these securities	$ 81,417	$ 43,818
Net weighted average borrowing rate	5.50%	4.48%
Maturity Overnight [Member]
Fair value of securities pledged, including accrued interest receivable	$ 0	$ 0
Repurchase agreement liabilities associated with these securities	$ 0	$ 0
Net weighted average borrowing rate	0%	0%
Maturity Less than 30 Days [Member]
Fair value of securities pledged, including accrued interest receivable	$ 50,480	$ 42,553
Repurchase agreement liabilities associated with these securities	$ 47,888	$ 40,492
Net weighted average borrowing rate	5.47%	4.50%
Maturity 30 to 90 Days [Member]
Fair value of securities pledged, including accrued interest receivable	$ 34,631	$ 3,364
Repurchase agreement liabilities associated with these securities	$ 33,529	$ 3,326
Net weighted average borrowing rate	5.53%	4.29%
Maturity Greater than 90 Days [Member]
Fair value of securities pledged, including accrued interest receivable	$ 0	$ 0
Repurchase agreement liabilities associated with these securities	$ 0	$ 0
Net weighted average borrowing rate	0%	0%

Note 4 - Repurchase Agreement_4

Note 4 - Repurchase Agreements - Risks With Individual Counterparties (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Amount at risk	$ 4,300	$ 2,500
Citigroup Global Markets Inc [Member]
Amount at risk	$ 1,792
Percent of Stockholders' Equity at Risk	13.80%
Weighted Average Maturity (Year)	29 years
Mirae Asset Securities (USA) Inc. [Member]
Amount at risk		$ 1,322
Percent of Stockholders' Equity at Risk		10.90%
Weighted Average Maturity (Year)		14 years

Note 5 - Pledged Assets - Sched

Note 5 - Pledged Assets - Schedule of Financial Instruments Owned and Pledged as Collateral (Details) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Investments, fair value	$ 4,842,794	$ 5,975,248
Accrued interest on pledged securities	420,919	204,018
Restricted cash	1,412,250	763,000
Assets	123,285,560	86,316,951
Asset Pledged as Collateral [Member]
Accrued interest on pledged securities	417,000	200,000
Restricted cash	1,412,000	763,000
Assets	86,523,000	46,680,000
Asset Pledged as Collateral [Member] | Securities Sold under Agreements to Repurchase [Member]
Accrued interest on pledged securities	417,000	200,000
Restricted cash	693,000	454,000
Assets	85,804,000	46,371,000
Asset Pledged as Collateral [Member] | Derivative [Member]
Accrued interest on pledged securities	0	0
Restricted cash	719,000	309,000
Assets	719,000	309,000
Asset Pledged as Collateral [Member] | Collateralized Mortgage-Backed Securities [Member] | Pass Through Certificate [Member]
Investments, fair value	82,303,000	42,975,000
Asset Pledged as Collateral [Member] | Collateralized Mortgage-Backed Securities [Member] | Pass Through Certificate [Member] | Securities Sold under Agreements to Repurchase [Member]
Investments, fair value	82,303,000	42,975,000
Asset Pledged as Collateral [Member] | Collateralized Mortgage-Backed Securities [Member] | Pass Through Certificate [Member] | Derivative [Member]
Investments, fair value	0	0
Asset Pledged as Collateral [Member] | Collateralized Mortgage-Backed Securities [Member] | Structured Finance [Member]
Investments, fair value	2,391,000	2,742,000
Asset Pledged as Collateral [Member] | Collateralized Mortgage-Backed Securities [Member] | Structured Finance [Member] | Securities Sold under Agreements to Repurchase [Member]
Investments, fair value	2,391,000	2,742,000
Asset Pledged as Collateral [Member] | Collateralized Mortgage-Backed Securities [Member] | Structured Finance [Member] | Derivative [Member]
Investments, fair value	$ 0	$ 0

Note 5 - Pledged Assets -Schedu

Note 5 - Pledged Assets -Schedule of Financial Instruments Pledged as Collateral From Counterparties (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Assets Pledged to Bimini	$ 0	$ 148
Cash [Member]
Assets Pledged to Bimini	$ 0	$ 148

Note 6 - Offsetting Assets An_3

Note 6 - Offsetting Assets And Liabilities - Offsetting of Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Repurchase Agreements [Member]
Gross amount of liabilities		$ 43,818
Gross amount offset		0
Net amount of balance sheet liabilities		43,818
Securities posted as collateral		(43,364)
Cash posted as collateral		(454)
Net amount		0
Gross Amount Of Recognized Liabilties [Member]
Gross amount of liabilities	$ 81,417	43,818
Gross Amount Of Recognized Liabilties [Member] | Repurchase Agreements [Member]
Gross amount of liabilities	81,417
Gross Amount Of Liabilties Offset In The Balance Sheet [Member]
Gross amount offset	0	0
Gross Amount Of Liabilties Offset In The Balance Sheet [Member] | Repurchase Agreements [Member]
Gross amount offset	0
Net Amount Of Liabilities Presented In The Balance Sheet [Member]
Net amount of balance sheet liabilities	81,417	43,818
Net Amount Of Liabilities Presented In The Balance Sheet [Member] | Repurchase Agreements [Member]
Net amount of balance sheet liabilities	81,417
Gross Amount Of Financial Instruments Posted Not Offset in Balance Sheet [Member]
Securities posted as collateral	(80,724)	(43,364)
Gross Amount Of Financial Instruments Posted Not Offset in Balance Sheet [Member] | Repurchase Agreements [Member]
Securities posted as collateral	(80,724)
Gross Amounts Of Cash Posted Not Offset In Balance Sheet [Member]
Cash posted as collateral	(693)	(454)
Gross Amounts Of Cash Posted Not Offset In Balance Sheet [Member] | Repurchase Agreements [Member]
Cash posted as collateral	(693)
Net Amount Of Liabilities [Member]
Net amount	0	$ 0
Net Amount Of Liabilities [Member] | Repurchase Agreements [Member]
Net amount	$ 0

Note 7 - Long-term Debt (Detail

Note 7 - Long-term Debt (Details Textual) - USD ($)				9 Months Ended
	Oct. 31, 2024	Jun. 30, 2023	Oct. 30, 2019	Sep. 30, 2023	Dec. 31, 2022
Junior Subordinated Debt Securities [Member] | Bimini Capital Trust II (“BCTII”) [Member] | Bimini Capital Trust Junior Subordinated Note [Member]
Long-Term Debt, Gross				$ 26,800,000	$ 26,800,000
Debt Instrument, Interest Rate, Effective Percentage				9.17%
Junior Subordinated Debt Securities [Member] | Bimini Capital Trust II (“BCTII”) [Member] | Bimini Capital Trust Junior Subordinated Note [Member] | London Interbank Offered Rate (LIBOR) 1 [Member]
Debt Instrument, Basis Spread on Variable Rate				3.50%
Junior Subordinated Debt Securities [Member] | Bimini Capital Trust II (“BCTII”) [Member] | Bimini Capital Trust Junior Subordinated Note [Member] | CME Term SOFR [Member]
Debt Instrument, Basis Spread on Variable Rate		0.26161%
Debt Instrument, Coupon Spread on Variable Rate		3.50%
Notes Payable to Banks [Member]
Debt Instrument, Face Amount			$ 680,000
Debt Instrument, Periodic Payment, Total			$ 5,000
Debt Instrument, Interest Rate, Stated Percentage			4.89%
Notes Payable to Banks [Member] | US Treasury Securities Interest Rate [Member] | Forecast [Member]
Debt Instrument, Basis Spread on Variable Rate	3.25%
Bimini Capital Trust II (“BCTII”) [Member]
Noncontrolling Interest, Ownership Percentage by Parent				100%

Note 7 - Long-term Debt - Sched

Note 7 - Long-term Debt - Schedule of Debt (Details) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Long-term debt	$ 27,400,415	$ 27,416,239
Junior Subordinated Debt [Member]
Long-term debt	26,804,000	26,804,000
Notes Payable to Banks [Member]
Long-term debt	$ 596,000	$ 612,000

Note 7 - Long-term Debt - Futur

Note 7 - Long-term Debt - Future Scheduled Principal Payments on Long-term Debt (Details) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Last three months of 2023	$ 7,000
2024	25,000
2025	26,000
2026	28,000
2027	29,000
After 2027	27,285,000
Total	$ 27,400,415	$ 27,416,239

Note 8 - Common Stock (Details

Note 8 - Common Stock (Details Textual) - USD ($) $ / shares in Units, $ in Millions	9 Months Ended		33 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 16, 2021	Mar. 26, 2018
The 2018 Repurchase Plan [Member]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased (in shares)					500,000
The 2021 Repurchase Plan [Member]
Stock Repurchase Program, Authorized Amount				$ 2.5
Treasury Stock, Shares, Acquired (in shares)			789,024
Treasury Stock, Value, Acquired, Cost Method			$ 1.3
Shares Acquired, Average Cost Per Share (in dollars per share)			$ 1.6
Common Class A [Member]
Stock Issued During Period, Shares, New Issues (in shares)	0	0
Common Class B [Member]
Stock Issued During Period, Shares, New Issues (in shares)	0	0
Common Class C [Member]
Stock Issued During Period, Shares, New Issues (in shares)	0	0

Note 9 - Commitments and Cont_2

Note 9 - Commitments and Contingencies (Details Textual) - Threatened Litigation [Member] - Breach Of Representations And Warranties [Member] - USD ($) $ in Thousands		9 Months Ended
	Apr. 22, 2020	Sep. 30, 2023
Loss Contingency Accrual, Provision		$ 0
Citigroup Demand For Payment [Member]
Loss Contingency, Damages Sought, Value	$ 33,300

Note 10 - Income Taxes (Details

Note 10 - Income Taxes (Details Textual) - USD ($)		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Tax Expense (Benefit)		$ (757,016)	$ (255,618)	$ (320,596)	$ (1,571,076)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	[1]	(1,175,724)	$ (3,428,806)	551,676	$ (9,410,422)
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount		$ 500,000		$ 500,000
[1]Totals in the table above may not foot due to rounding differences.

Note 11 - Earnings Per Share -

Note 11 - Earnings Per Share - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Common Class A [Member]
Basic and diluted	$ (418)	$ (3,163)	$ 869	$ (7,815)
Common shares outstanding at the balance sheet date (in shares)	10,005,000	10,247,000	10,005,000	10,247,000
Effect of weighting (in shares)	13,000	42,000	14,000	220,000
Weighted average shares-basic and diluted (in shares)	10,018,163	10,288,785	10,019,307	10,467,091
Basic and diluted (in dollars per share)	$ (0.04)	$ (0.31)	$ 0.09	$ (0.75)
Common Class B [Member]
Basic and diluted	$ (1)	$ (10)	$ 3	$ (24)
Common shares outstanding at the balance sheet date (in shares)	32,000	32,000	32,000	32,000
Weighted average shares-basic and diluted (in shares)	31,938	31,938	31,938	31,938
Basic and diluted (in dollars per share)	$ (0.04)	$ (0.31)	$ 0.09	$ (0.75)

Note 12 - Fair Value (Details T

Note 12 - Fair Value (Details Textual) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Retained Interest, Fair Value Disclosure	$ 0	$ 0

Note 12 - Fair Value - Schedule

Note 12 - Fair Value - Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis (Details) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Mortgage-backed securities	$ 84,861,161	$ 45,893,436
Fair Value, Recurring [Member]
Mortgage-backed securities	84,861,000	45,893,000
Orchid Island Capital, Inc. common stock	4,843,000	5,975,000
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Mortgage-backed securities	0	0
Orchid Island Capital, Inc. common stock	4,843,000	5,975,000
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Mortgage-backed securities	84,861,000	45,893,000
Orchid Island Capital, Inc. common stock	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Mortgage-backed securities	0	0
Orchid Island Capital, Inc. common stock	$ 0	$ 0

Note 13 - Segment Information_2

Note 13 - Segment Information (Details Textual)	3 Months Ended		9 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)
Number of Reportable Segments			2
Revenues	$ 4,731,661	$ 4,039,663	$ 13,300,625	$ 12,083,514
Orchid Island Capital [Member]
Revenues	$ 10,500,000	$ 3,300,000	$ 3,600,000	$ 9,700,000
Orchid Island Capital [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member]
Concentration Risk, Percentage	79%	82%	77%	80%

Note 13 - Segment Information -

Note 13 - Segment Information - Schedule of Segment Information (Details) - USD ($)		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Advisory services, external customers		$ 3,620,002	$ 3,311,962	$ 10,518,862	$ 9,719,703
Advisory services, other operating segments(1)	[1]	0	0	0	0
Interest and dividend income		1,111,000	728,000	2,782,000	2,364,000
Interest expense(2)		(1,441,000)	(589,000)	(3,625,000)	(1,252,000)
Net revenues		3,290,000	3,451,000	9,676,000	10,832,000
Other expenses		(2,360,590)	(4,802,482)	(2,466,795)	(14,025,878)
Operating expenses(3)	[2]	(2,105,000)	(2,078,000)	(6,657,000)	(6,216,000)
Intercompany expenses(1)	[1]	0	0	0	0
Income (loss) before income taxes(4)	[3]	(1,175,724)	(3,428,806)	551,676	(9,410,422)
Other (expenses) revenue		(2,360,590)	(4,802,482)	(2,466,795)	(14,025,878)
Corporate, Non-Segment [Member]
Advisory services, external customers		0	0	0	0
Advisory services, other operating segments(1)	[1]	0	0	0	0
Interest and dividend income		1,000	0	2,000	0
Interest expense(2)	[4]	(610,000)	(379,000)	(1,722,000)	(938,000)
Net revenues		(609,000)	(379,000)	(1,720,000)	(938,000)
Other expenses		0	66,000	0	66,000
Operating expenses(3)	[2]	0	0	0	0
Intercompany expenses(1)	[1]	0	0	0	0
Income (loss) before income taxes(4)	[3]	(609,000)	(313,000)	(1,720,000)	(872,000)
Other (expenses) revenue		0	66,000	0	66,000
Intersegment Eliminations [Member]
Advisory services, external customers		0	0	0	0
Advisory services, other operating segments(1)	[1]	(33,000)	(29,000)	(89,000)	(85,000)
Interest and dividend income		0	0	0	0
Interest expense(2)		0	0	0	0
Net revenues		(33,000)	(29,000)	(89,000)	(85,000)
Other expenses		0	0	0	0
Operating expenses(3)	[2]	0	0	0	0
Intercompany expenses(1)	[1]	33,000	29,000	89,000	85,000
Income (loss) before income taxes(4)	[3]	0	0	0	0
Other (expenses) revenue		0	0	0	0
Asset Management [Member] | Operating Segments [Member]
Advisory services, external customers		3,620,000	3,312,000	10,519,000	9,720,000
Advisory services, other operating segments(1)	[1]	33,000	29,000	89,000	85,000
Interest and dividend income		0	0	0	0
Interest expense(2)		0	0	0	0
Net revenues		3,653,000	3,341,000	10,608,000	9,805,000
Other expenses		0	0	0	0
Operating expenses(3)	[2]	(1,582,000)	(1,677,000)	(5,174,000)	(4,914,000)
Intercompany expenses(1)	[1]	0	0	0	0
Income (loss) before income taxes(4)	[3]	2,071,000	1,664,000	5,434,000	4,891,000
Other (expenses) revenue		0	0	0	0
Investment Portfolio [Member] | Operating Segments [Member]
Advisory services, external customers		0	0	0	0
Advisory services, other operating segments(1)	[1]	0	0	0	0
Interest and dividend income		1,110,000	728,000	2,780,000	2,364,000
Interest expense(2)		(831,000)	(210,000)	(1,903,000)	(314,000)
Net revenues		279,000	518,000	877,000	2,050,000
Other expenses		(2,361,000)	(4,868,000)	(2,467,000)	(14,092,000)
Operating expenses(3)	[2]	(523,000)	(401,000)	(1,483,000)	(1,302,000)
Intercompany expenses(1)	[1]	(33,000)	(29,000)	(89,000)	(85,000)
Income (loss) before income taxes(4)	[3]	(2,638,000)	(4,780,000)	(3,162,000)	(13,429,000)
Other (expenses) revenue		$ (2,361,000)	$ (4,868,000)	$ (2,467,000)	$ (14,092,000)
[1]Includes fees paid by Royal Palm to Bimini Advisors for advisory services.[2]Operating expenses are allocated based on each segment’s proportional share of total revenues.[3]Totals in the table above may not foot due to rounding differences.[4]Includes interest on repurchase agreements in the Investment Portfolio column and long-term debt in the Corporate column.

Note 13 - Segment Information_3

Note 13 - Segment Information - Assets in Each Reportable Segment (Details) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Assets	$ 123,285,560	$ 86,316,951
Operating Segments [Member] | Asset Management [Member]
Assets	2,144,000	1,970,000
Operating Segments [Member] | Investment Portfolio [Member]
Assets	113,934,000	77,483,000
Corporate, Non-Segment [Member]
Assets	$ 7,208,000	$ 6,864,000

Note 14 - Related Party Trans_2

Note 14 - Related Party Transactions (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Investment Income, Dividend	$ 273,154	$ 282,893	$ 819,462	$ 1,035,547
Orchid Island Capital [Member]
Investment Owned, Balance, Shares (in shares)	569,071		569,071		569,071
Equity Method Investment, Ownership Percentage	1.10%		1.10%		1.60%
Investment Income, Dividend	$ 300,000	$ 300,000	$ 800,000	$ 1,000,000