Company Announcement - Bimini Capital Management, Inc. will release its fourth quarter 2025 results on March 12, 2026, after the market closes, rescheduling from the original date of March 5, 2026 [1] Earnings Conference Call - An earnings conference call and live audio webcast is scheduled for March 13, 2026, at 10:00 AM ET, with registration available online [2] Company Overview - Bimini Capital Management, Inc. primarily invests in residential mortgage-related securities issued by Fannie Mae, Freddie Mac, and Ginnie Mae [3] - The company serves as the external manager for Orchid Island Capital, Inc., a publicly-traded real estate investment trust, earning management fees and expense reimbursements [4] - Bimini also manages Royal Palm Capital, LLC, with a similar investment strategy to that of Orchid [5]

Company Overview - Bimini Capital Management, Inc. is an asset manager focused on investing primarily in residential mortgage-related securities issued by Fannie Mae, Freddie Mac, and Ginnie Mae [3] - The company operates through its wholly-owned subsidiary, Bimini Advisors Holdings, LLC, which serves as the external manager for Orchid Island Capital, Inc., a publicly-traded real estate investment trust [4] - Bimini Advisors receives management fees and expense reimbursements for managing Orchid's investment portfolio and operations, under the supervision of Orchid's board of directors [4] Upcoming Financial Events - Bimini Capital Management will release its fourth quarter 2025 results after the close of trading on March 5, 2026 [1] - An earnings conference call and live audio webcast is scheduled for March 6, 2026, at 10:00 AM ET, with registration available online [2]

Core Viewpoint - Bimini Capital Management, Inc. has announced an agreement to acquire 80% of Tom Johnson Investment Management, LLC, enhancing its asset management capabilities and diversifying its portfolio [1][4]. Group 1: Transaction Details - The purchase price will be 2.5 times 80% of TJIM's revenue for the fiscal year ended December 31, 2025, with a cash payment at closing [2]. - If the purchase price exceeds $12,000,000, the excess will be paid in three equal annual installments; if less than $1,000,000, it will be paid within one year of closing [2]. - The completion of the transaction is contingent upon the principal seller entering a new three-year employment agreement and customary due diligence [3]. Group 2: Strategic Benefits - TJIM currently manages approximately $1.6 billion in assets across equity and fixed income markets, with diverse management agreements [4]. - The transaction will provide TJIM with access to Bimini's management expertise, capital markets knowledge, and potential for increased asset management in public markets [4]. - Existing TJIM owners will retain an interest in the company, and staff will be incentivized to remain through equity ownership opportunities [4]. Group 3: Company Background - Bimini Capital Management specializes in residential mortgage-related securities and employs leverage and hedging strategies [5]. - The company serves as the external manager of Orchid Island Capital, Inc., a publicly listed real estate investment trust [6].

Core Viewpoint - Bimini Capital Management, Inc. has amended its Rights Agreement to extend its expiration date and adjust the purchase price, aiming to preserve stockholder value and protect its net operating loss carryforwards [1][2][3]. Group 1: Rights Plan Amendment - The Board of Directors adopted the First Amendment to the existing Rights Agreement, extending the expiration date from December 21, 2025, to December 21, 2030, and increasing the purchase price from $4.76 to $10.20 [1]. - The Rights Plan is intended to safeguard stockholder value and the value of tax assets, specifically net operating loss carryforwards (NOLs), which amounted to approximately $253.9 million as of September 30, 2025 [2]. - The increase in the purchase price is designed to enhance potential dilution for stockholders triggering rights under the plan, thereby reducing the likelihood of an "ownership change" as defined by Section 382 of the Internal Revenue Code [3]. Group 2: Stockholder Approval and Future Actions - The First Amendment will be submitted for stockholder approval at the 2026 annual meeting, with automatic termination of the amendment set for June 30, 2026, if approval is not obtained [4]. - A detailed summary of the First Amendment will be included in a Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission [5]. Group 3: Company Overview - Bimini Capital Management, Inc. primarily invests in residential mortgage-related securities issued by government-sponsored entities such as Fannie Mae, Freddie Mac, and Ginnie Mae [6]. - The company also manages Orchid Island Capital, Inc., a publicly-traded real estate investment trust, and Royal Palm Capital, LLC, both with similar investment strategies [7][8].

Core Viewpoint - Bimini Capital Management, Inc. has successfully upgraded to trade on the OTCQX® Best Market, indicating its growth and enhanced visibility among U.S. investors [1][4]. Company Overview - Bimini Capital Management, Inc. specializes in residential mortgage-related securities, primarily investing in securities issued by Fannie Mae, Freddie Mac, and Ginnie Mae [4]. - The company's investment strategy focuses on earning returns from the spread between asset yields and borrowing costs [4]. - Bimini also serves as the external manager of Orchid Island Capital Inc., receiving management fees and dividends from its investment in Orchid Island Capital common shares [4]. Market Context - The OTCQX Market provides a premium platform for investor-focused companies, requiring high financial standards and compliance with securities laws for qualification [3]. - OTC Markets Group Inc. operates regulated markets for trading 12,000 U.S. and international securities, facilitating efficient access to financial markets [5].

PresentationI would now like to turn the conference over to your speaker today, Melissa Alfonso. Please go ahead.Good day, and thank you for standing by. Welcome to the Bimini Capital Third Quarter 2025 Earnings Call. [Operator Instructions] Please be advised today's conference is being recorded.Melissa Alfonso Thanks, Kevin. Good morning, and welcome to the Third Quarter 2025 Earnings Conference Call for Bimini Capital Management. This call is being recorded today, November 7, 2025. At this time, the compa ...

Core Viewpoint - Bimini Capital Management, Inc. announces the resignation of Frank E. Jaumot as a director and the appointment of Ashley B. Griffith as his replacement, effective immediately [1]. Group 1: Management Changes - Frank E. Jaumot has resigned as a director after serving since 2009, contributing significantly to the company since its inception [1]. - Ashley B. Griffith has been appointed as a Class I director, with a term expiring at the annual meeting of stockholders in 2028, replacing Jaumot [1]. Group 2: Background of New Director - Ashley B. Griffith, 53, is currently a Director in Institutional Sales at Hovde Group, focusing on the community and regional banking sector since early 2024 [2]. - He has over 25 years of experience in institutional sales at various investment banking firms, primarily in the financial sector [2]. - Griffith has previously held positions as Managing Director at Compass Point Research and Trading and has worked at Sandler O'Neill, Evercore, and Fox-Pitt, Kelton [2]. Group 3: Company Overview - Bimini Capital Management, Inc. primarily invests in residential mortgage-related securities issued by Fannie Mae, Freddie Mac, and Ginnie Mae [3]. - The company serves as the external manager for Orchid Island Capital, Inc., a publicly-traded real estate investment trust, earning management fees and expense reimbursements [4]. - Bimini also manages the portfolio of its subsidiary, Royal Palm Capital, LLC, with a similar investment strategy to that of Orchid [5].

Company Overview - Bimini Capital Management, Inc. is an asset manager focused on investing primarily in residential mortgage-related securities issued by Fannie Mae, Freddie Mac, and Ginnie Mae [3] - The company operates through its wholly-owned subsidiary, Bimini Advisors Holdings, LLC, which serves as the external manager for Orchid Island Capital, Inc., a publicly-traded real estate investment trust [4] - Bimini also manages the portfolio of its subsidiary, Royal Palm Capital, LLC, with a similar investment strategy to that of Orchid [5] Earnings Announcement - Bimini Capital Management, Inc. will release its third-quarter results for 2025 after the close of trading on November 6, 2025 [1] - An earnings conference call and live audio webcast is scheduled for November 7, 2025, at 10:00 AM ET, with registration available online [2]

Core Viewpoint - The second quarter of 2025 experienced significant market turmoil due to the announcement of extensive reciprocal tariffs by the Trump administration, although a subsequent 90-day pause in implementation mitigated immediate impacts [5]. Company Summary - Bimini Capital Management's earnings call highlighted the challenges faced in Q2 2025, primarily driven by external market conditions [5]. - The company noted that the actual tariffs in place during the quarter were less severe than initially anticipated, leading to limited pass-through effects on inflation data [5]. Industry Summary - The announcement of tariffs created initial fears in the market, but the subsequent pause in implementation helped stabilize conditions [5]. - The industry has not yet seen significant inflationary impacts from the tariffs, indicating a potential resilience in the market despite ongoing uncertainties [5].

Core Insights - Bimini Capital Management reported modest net income of approximately $43 thousand for Q2 2025, despite challenges in the mortgage REIT sector due to market turmoil from tariffs [2][3][9] - The advisory services segment showed strong performance with a 20% increase in revenues for Q2 2025 compared to the same period in 2024 [3][5] - The company anticipates growth in its RMBS portfolio as market conditions improve and cash positions increase [3][4] Financial Performance - For the six months ended June 30, 2025, Bimini recorded net income of $0.6 million, or $0.06 per share, with a return on stockholders' equity of 8.7% [2][9] - Advisory service revenues for Q2 2025 were approximately $3.8 million, reflecting a 20% increase over Q2 2024 [5][28] - Interest revenues increased by 23% for Q2 2025 compared to Q2 2024, despite a loss of $1.3 million in the MBS segment [3][6] Market Conditions - The mortgage REIT sector faced losses in Q2 2025, but market conditions are expected to improve with lower interest rate volatility and favorable trading levels for Agency RMBS [2][4] - The Federal Reserve is likely to reduce overnight rates if economic conditions deteriorate, which could support the sector [4] Portfolio and Capital Allocation - As of June 30, 2025, the total market value of Bimini's MBS portfolio was approximately $107.6 million, down from $122.3 million at the end of 2024 [18][25] - The company received approximately $3.3 million in principal repayments and prepayments during Q2 2025, resulting in a constant prepayment rate of approximately 9.9% [17] - The effective duration of the MBS portfolio was 2.931, indicating sensitivity to interest rate changes [19] Financing and Liquidity - Bimini had outstanding repurchase obligations of approximately $101.7 million as of June 30, 2025, with a net weighted average borrowing rate of 4.49% [20][22] - The company's liquidity was approximately $5.7 million, consisting of unpledged MBS and cash equivalents [20] Upcoming Events - An earnings conference call is scheduled for August 1, 2025, at 10:00 AM ET to discuss the results [32]