Quarterly ResultMay 8, 2026, 02:16 PM
Bimini Capital Q1 Net Income +45%; Acquires TJIM
AI Summary
Bimini Capital Management reported a strong first quarter for 2026, with net income increasing by 45.0% to $801,054 and basic and diluted EPS rising to $0.08. Total revenues grew by 17.5% to $6.50 million, primarily driven by a 43.1% increase in advisory services revenue. The company also announced a significant strategic move, acquiring 80% of Tom Johnson Investment Management, LLC on April 1, 2026. The balance sheet reflected a substantial reduction in the mortgage-backed securities portfolio and corresponding repurchase agreements.
Key Highlights
- Acquired 80% of Tom Johnson Investment Management, LLC on April 1, 2026.
- Net income increased by 45.0% to $801,054 for Q1 2026.
- Basic and diluted EPS for Class A Common Stock rose 33.3% to $0.08.
- Total revenues grew 17.5% to $6.50 million for the quarter.
- Advisory services revenue increased 43.1% to $5.13 million.
- Mortgage-backed securities portfolio decreased 81.9% to $16.07 million.
- Repurchase agreements decreased 82.2% to $15.18 million.
- Net cash from operating activities was $200,752, up from a loss of $3.12 million.