0001437749-24-007121 | 10-K | XBRL Viewer | Bimini Capital Management INC

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Note 1 - Organization and Significant Accounting Policies - Summary of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Cash and cash equivalents	$ 3,716,386	$ 6,010,799
Restricted cash	753,900	763,000
Total cash, cash equivalents and restricted cash	$ 4,470,286	$ 6,773,799

Consolidated Statements of Equity - 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 loss	$ 0	0	(19,823,105)	(19,823,105)
Class A common shares repurchased and retired (in shares)	(682,306)
Class A common shares repurchased and retired	$ (682)	(1,051,984)	0	(1,052,666)
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 loss	$ 0	0	(3,983,205)	(3,983,205)
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 Dec. 31, 2023	10,069,333
Balances at Dec. 31, 2023	$ 10,069	$ 329,815,150	$ (321,697,478)	$ 8,127,741

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

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+ Details

Note 8 - Offsetting Assets And Liabilities

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Offsetting Assets And Liabilities [Text Block]

NOTE 8. OFFSETTING ASSETS AND LIABILITIES

The Company’s 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 table presents information regarding those assets and liabilities subject to such arrangements as if the Company had presented them on a net basis as of December 31, 2023 and 2022.

(in thousands)
*Offsetting of Liabilities*
					*Net Amount*		*Gross Amount*
			*Gross*		*of Liabilities*		*Not Offset in the*
			*Amount*		*Presented*		*Consolidated Balance Sheet*
	*Gross*		*Offset in the*		*in the*		*Financial*
	*Amount of*		*Consolidated*		*Consolidated*		*Instruments*			*Cash*
	*Recognized*		*Balance*		*Balance*		*Posted as*			*Posted as*			*Net*
	*Liabilities*		*Sheet*		*Sheet*		*Collateral*			*Collateral*			*Amount*
December 31, 2023
Repurchase Agreements	$	86,907	$	-	$	86,907	$	(86,907	)	$	-		$	-
	$	86,907	$	-	$	86,907	$	(86,907	)	$	-		$	-
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 7 for a discussion of collateral posted for, or received against, repurchase obligations and derivative instruments.

Note 8 - Offsetting Assets And Liabilities (Tables)

12 Months Ended

Dec. 31, 2023

Notes Tables

Offsetting Liabilities [Table Text Block]

(in thousands)
*Offsetting of Liabilities*
					*Net Amount*		*Gross Amount*
			*Gross*		*of Liabilities*		*Not Offset in the*
			*Amount*		*Presented*		*Consolidated Balance Sheet*
	*Gross*		*Offset in the*		*in the*		*Financial*
	*Amount of*		*Consolidated*		*Consolidated*		*Instruments*			*Cash*
	*Recognized*		*Balance*		*Balance*		*Posted as*			*Posted as*			*Net*
	*Liabilities*		*Sheet*		*Sheet*		*Collateral*			*Collateral*			*Amount*
December 31, 2023
Repurchase Agreements	$	86,907	$	-	$	86,907	$	(86,907	)	$	-		$	-
	$	86,907	$	-	$	86,907	$	(86,907	)	$	-		$	-
December 31, 2022
Repurchase Agreements	$	43,818	$	-	$	43,818	$	(43,364	)	$	(454	)	$	-
	$	43,818	$	-	$	43,818	$	(43,364	)	$	(454	)	$	-

Note 12 - Income Taxes (Details Textual) - USD ($)	12 Months Ended
Note 12 - Income Taxes (Details Textual) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2013
Income Tax Expense (Benefit)	$ 4,130,563	$ 11,858,069
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount	$ 2,653,000	$ 12,188,000
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	21.00%
Deferred Tax Assets, Goodwill and Intangible Assets	$ 813,000	$ 813,000
Offering Costs Paid for Orchid's IPO [Member] \| Bimini Advisors Holdings [Member]
Payments to Acquire Intangible Assets			$ 3,200,000
Deferred Tax Assets, Goodwill and Intangible Assets	800,000	800,000	$ 3,200,000
Internal Revenue Service (IRS) [Member] \| Domestic Tax Authority [Member]
Operating Loss Carryforwards	257,200,000	260,700,000
Florida Department of Revenue [Member] \| State and Local Jurisdiction [Member]
Operating Loss Carryforwards	$ 32,000,000	$ 35,500,000

Note 4 - Property and Equipment, Net - Composition of Property and Equipment (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Property and Equipment	$ 3,277,000	$ 3,277,000
Less accumulated depreciation and amortization	(1,356,000)	(1,280,000)
Property and equipment, net	1,920,823	1,997,313
Land [Member]
Property and Equipment	1,185,000	1,185,000
Building and Building Improvements [Member]
Property and Equipment	1,827,000	1,827,000
Computer Equipment [Member]
Property and Equipment	45,000	45,000
Office Furniture and Equipment [Member]
Property and Equipment	$ 220,000	$ 220,000

Note 7 - Pledged Assets - Schedule of Financial Instruments Owned and Pledged as Collateral (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Investments, fair value	$ 4,797,269	$ 5,975,248
Accrued interest on pledged securities	488,660	204,018
Cash	753,900	763,000
Year end assets	125,598,014	86,316,951
Asset Pledged as Collateral [Member]
Accrued interest on pledged securities	486,000	200,000
Cash	754,000	763,000
Year end assets	93,815,000	46,680,000
Asset Pledged as Collateral [Member] \| Securities Sold under Agreements to Repurchase [Member]
Accrued interest on pledged securities	486,000	200,000
Cash	0	454,000
Year end assets	93,061,000	46,371,000
Asset Pledged as Collateral [Member] \| Derivative [Member]
Accrued interest on pledged securities	0	0
Cash	754,000	309,000
Year end assets	754,000	309,000
Asset Pledged as Collateral [Member] \| Collateralized Mortgage-Backed Securities [Member] \| Pass Through Certificate [Member]
Investments, fair value	90,180,000	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	90,180,000	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	2,395,000	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	2,395,000	2,742,000
Asset Pledged as Collateral [Member] \| Collateralized Mortgage-Backed Securities [Member] \| Structured Finance [Member] \| Derivative [Member]
Investments, fair value	$ 0	$ 0

Note 9 - Long-term Debt - Future Scheduled Principal Payments on Long-term Debt (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
2024	$ 27,000
2025	26,000
2026	28,000
2027	29,000
2028	30,000
Thereafter	27,254,000
Total	$ 27,394,417	$ 27,416,239

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Note 15 - Segment Information (Tables)

12 Months Ended

Dec. 31, 2023

Notes Tables

Reconciliation of Revenue from Segments to Consolidated [Table Text Block]

(in thousands)
	*Asset Management*			*Investment Portfolio*			*Corporate*				*Eliminations*			*Total*
2023
Advisory services, external customers	$	13,595		$	-		$	-			$	-		$	13,595
Advisory services, other operating segments⁽¹⁾		124			-			-				(124	)		-
Interest and dividend income		-			4,334			2				-			4,336
Interest expense		-			(3,081	)		(2,338	)	(2)		-			(5,419	)
Net revenues		13,719			1,253			(2,336	)			(124	)		12,512
Other expense		-			(1,867	)		-		(3)		-			(1,867	)
Operating expenses⁽⁴⁾		(7,848	)		(2,649	)		(1	)			-			(10,498	)
Intercompany expenses⁽¹⁾		-			(124	)		-				124			-
Income (loss) before income taxes	$	5,871		$	(3,387	)	$	(2,337	)		$	-		$	147
Year end assets	$	1,853		$	117,012		$	6,733			$	-		$	125,598

	*Asset Management*			*Investment Portfolio*			*Corporate*				*Eliminations*			*Total*
2022
Advisory services, external customers	$	12,996		$	-		$	-			$	-		$	12,996
Advisory services, other operating segments⁽¹⁾		115			-			-				(115	)		-
Interest and dividend income		-			3,155			-				-			3,155
Interest expense		-			(715	)		(1,416	)	(2)		-			(2,131	)
Net revenues		13,111			2,440			(1,416	)			(115	)		14,020
Other (expense) income		-			(12,212	)		66		(3)		-			(12,146	)
Operating expenses⁽⁴⁾		(7,805	)		(2,034	)		-				-			(9,839	)
Intercompany expenses⁽¹⁾		-			(115	)		-				115			-
Income (loss) before income taxes	$	5,306		$	(11,921	)	$	(1,350	)		$	-		$	(7,965	)
Year end assets	$	1,970		$	77,483		$	6,864			$	-		$	86,317

Note 12 - Income Taxes - Income Tax Reconciliation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Federal tax provision (benefit) based on statutory rate applicable for each year	$ 31,000	$ (1,673,000)
State income tax benefit	(22,000)	(344,000)
Non-deductible expenses	1,443,000	1,249,000
Increase of deferred tax asset valuation allowance	2,653,000	12,188,000
Other	26,000	438,000
Income tax provision, net	$ 4,130,563	$ 11,858,069

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Note 11 - Commitments and Contingencies (Details Textual) - Threatened Litigation [Member] - Breach Of Representations And Warranties [Member] - USD ($) $ in Thousands		12 Months Ended
	Apr. 22, 2020	Dec. 31, 2023
Loss Contingency Accrual, Provision		$ 0
Citigroup Demand For Payment [Member]
Loss Contingency, Damages Sought, Value	$ 33,300

Note 9 - Long-term Debt (Details Textual) - USD ($)				6 Months Ended
Note 9 - Long-term Debt (Details Textual) - USD ($)	Oct. 31, 2024	Jun. 30, 2023	Oct. 30, 2019	Jun. 30, 2023	Dec. 31, 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					9.15%
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					100.00%

Note 9 - Long-term Debt

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Debt Disclosure [Text Block]

NOTE 9. LONG-TERM DEBT

Long-term debt at December 31, 2023 and 2022 is summarized as follows:

(in thousands)
	*2023*		*2022*
Junior subordinated debt	$	26,804	$	26,804
Note payable		590		612
Total	$	27,394	$	27,416

Junior Subordinated Debt

During 2005, Bimini Capital sponsored the formation of a statutory trust, known as Bimini Capital Trust II (“BCTII”) of which 100% of the common equity is owned by Bimini Capital. It was formed for the purpose of issuing trust preferred capital securities to third-party investors and investing the proceeds from the sale of such capital securities solely in junior subordinated debt securities of Bimini Capital. The debt securities held by BCTII are the sole assets of BCTII.

As of December 31, 2023 and 2022, the outstanding principal balance on the junior subordinated debt securities owed to BCTII was $26.8 million. Through June 30, 2023, the BCTII trust preferred securities and Bimini Capital's BCTII Junior Subordinated Notes had a rate of interest that floated at a spread of 3.50% over the prevailing three-month LIBOR rate. Starting June 30, 2023, the underlying index converted from three-month LIBOR to CME 3-month Term SOFR plus a tenor spread adjustment of 0.26161%. The interest rate for subsequent accrual periods will be CME Term SOFR on the applicable reset date plus the tenor spread adjustment of 0.26161% plus the coupon spread of 3.50%. The CME Term SOFR index is in effect for all interest rate resets after July 3, 2023. As of December 31, 2023, the interest rate was 9.15%. The BCTII trust preferred securities and Bimini Capital's BCTII Junior Subordinated Notes require quarterly interest distributions and are redeemable at Bimini Capital's option, in whole or in part and without penalty. Bimini Capital's BCTII Junior Subordinated Notes are subordinate and junior in right of payment to all present and future senior indebtedness.

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, the Company borrowed $680,000 from a bank. The note is payable in equal monthly principal and interest installments of approximately $5,000 through October 30, 2039. Interest accrues at 4.89% through October 30, 2024. Thereafter, interest accrues based on the weekly average yield to the United States Treasury securities adjusted to a constant maturity of 5 years, plus 3.25%. The note is secured by a mortgage on the Company’s office building.

The table below presents the future scheduled principal payments on the Company’s long-term debt.

(in thousands)
Year Ending December 31,	*Amounts*
2024	$	27
2025		26
2026		28
2027		29
2028		30
Thereafter		27,254
Total	$	27,394

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Note 3 - Mortgage-backed Securities - Net Gain (Loss) From Sale of MBS (Details) - Collateralized Mortgage-Backed Securities [Member] - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Proceeds from sales of MBS	$ 18,175,322	$ 23,096,853
Carrying value of MBS sold	18,195,000	23,955,000
Net loss on sales of MBS	(20,000)	(858,000)
Gross gain sales of MBS	0	0
Gross loss on sales of MBS	$ (20,000)	$ (858,000)

Note 16 - Related Party Transactions

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

NOTE 16. RELATED PARTY TRANSACTIONS

Other Relationships with Orchid

At December 31, 2023 and 2022, the Company owned shares of Orchid common stock representing approximately 1.1% and 1.6%, respectively, of Orchid’s outstanding common stock, on such dates. During the years ended December 31, 2023 and 2022, the Company received dividends on this common stock investment of approximately $1.0 million and $1.3 million, respectively.

Robert Cauley, our Chief Executive Officer and Chairman of our Board of Directors, 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. Hunter Haas, our Chief Financial Officer, Chief Investment Officer and Treasurer, also serves as Chief Financial Officer, Chief Investment Officer and Secretary of Orchid, is a member of Orchid’s Board of Directors, is eligible to receive compensation from Orchid, and owns shares of common stock of Orchid. Robert J. Dwyer and Frank E. Jaumot, our independent directors, each own shares of common stock of Orchid.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
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+ Details

Note 2 - Advisory Services

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Advisory Services [Text Block]

NOTE 2. ADVISORY SERVICES

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 of 1.50% of the first $250 million of the Orchid’s month-end equity, as defined in the management agreement,

●

One-twelfth of 1.25% of the Orchid’s month-end equity that is greater than $250 million and less than or equal to $500 million, and

●

One-twelfth of 1.00% of the Orchid’s month-end equity that is greater than $500 million.

On April 1, 2022, pursuant to the third amendment to the management agreement entered into on November 16, 2021, the Company began providing certain repurchase agreement trading, clearing and administrative services to Orchid that had been previously provided by a third party. In consideration for such services, Orchid will pay the following fees to the Company:

	●	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 billion, and multiplied by 1.0 basis point for any amount of aggregate outstanding principal balance in excess of $5 billion, and
	●	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 day of the month following the month the services are performed. The management agreement has been renewed through February 20, 2025 and provides for automatic one-year extension options thereafter. Should Orchid terminate the management agreement without cause, it will be obligated to pay Bimini Advisors a termination fee equal to three times the average annual management fee, as defined in the management agreement, before or on the last day of the applicable renewal term.

The following table summarizes the advisory services revenue from Orchid for the years ended December 31, 2023 and 2022.

(in thousands)
	*2023*		*2022*
Management fee	$	10,491	$	10,447
Allocated overhead		2,389		2,042
Repurchase, clearing and administrative fee		715		507
Total	$	13,595	$	12,996

At December 31, 2023 and 2022, the net amount due from Orchid was approximately $1.0 million and $1.1 million, respectively.

Note 7 - Pledged Assets -Schedule of Financial Instruments Pledged as Collateral From Counterparties (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets Pledged to Bimini	$ 0	$ 148
Cash [Member]
Assets Pledged to Bimini	$ 0	$ 148

Note 12 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

(in thousands)
	*2023*		*2022*
Current	$	-	$	-
Deferred		4,131		11,858
Income tax provision, net	$	4,131	$	11,858

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

(in thousands)
	*2023*			*2022*
Federal tax provision (benefit) based on statutory rate applicable for each year	$	31		$	(1,673	)
State income tax benefit		(22	)		(344	)
Non-deductible expenses		1,443			1,249
Increase of deferred tax asset valuation allowance		2,653			12,188
Other		26			438
Income tax provision	$	4,131		$	11,858

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

(in thousands)
	*2023*			*2022*
Deferred tax assets:
Net operating loss carryforwards	$	55,399		$	56,278
Orchid Island Capital, Inc. common stock		4,626			4,530
MBS unrealized losses and gains		586			1,118
Capital loss carryforwards		2,146			2,395
Management agreement		813			813
Other		103			16
		63,673			65,150
Valuation allowance		(44,625	)		(41,972	)
Net deferred tax assets	$	19,048		$	23,178

Note 3 - Mortgage-backed Securities

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

NOTE 3. MORTGAGE-BACKED SECURITIES

The following table presents the Company’s MBS portfolio as of December 31, 2023 and 2022:

(in thousands)
	*2023*						*2022*
	*Par Value*		Cost⁽¹⁾		*Fair Value*		*Par Value*		Cost⁽¹⁾		*Fair Value*
Fixed-rate MBS	$	88,807	$	91,701	$	90,181	$	44,963	$	46,603	$	42,974
Structured MBS⁽²⁾		n/a		1,787		2,550		n/a		2,053		2,919
Total	$	88,807	$	93,488	$	92,731	$	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 $18.9 million and $21.8 million as of December 31, 2023 and 2022, respectively.

The following table is a summary of the Company's net loss from the sale of MBS for the years ended December 31, 2023 and 2022:

(in thousands)
	*2023*			*2022*
Proceeds from sales of MBS	$	18,175		$	23,097
Carrying value of MBS sold		18,195			23,955
Net loss on sales of MBS	$	(20	)	$	(858	)

Gross gain sales of MBS	$	-		$	-
Gross loss on sales of MBS		(20	)		(858	)
Net loss on sales of MBS	$	(20	)	$	(858	)

Note 5 - Other Assets and Other Liabilities

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Other Current Assets [Text Block]

NOTE 5. OTHER ASSETS AND OTHER LIABILITIES

The composition of other assets at December 31, 2023 and 2022 follows:

(in thousands)
	*2023*		*2022*
Investment in Bimini Capital Trust II	$	804	$	804
Prepaid expenses		252		261
Other		73		99
Total other assets	$	1,129	$	1,164

The composition of other liabilities at December 31, 2023 and 2022 follows:

(in thousands)
	*2023*		*2022*
Accrued payroll	$	2,730	$	2,600
Accrued liabilities		136		104
Accounts payable		42		60
Total other liabilities	$	2,908	$	2,764

Note 2 - Advisory Services (Tables)

12 Months Ended

Dec. 31, 2023

Notes Tables

Schedule of Advisory Fee Income [Table Text Block]

(in thousands)
	*2023*		*2022*
Management fee	$	10,491	$	10,447
Allocated overhead		2,389		2,042
Repurchase, clearing and administrative fee		715		507
Total	$	13,595	$	12,996

Note 9 - Long-term Debt (Tables)

12 Months Ended

Dec. 31, 2023

Notes Tables

Schedule of Long-Term Debt Instruments [Table Text Block]

(in thousands)
	*2023*		*2022*
Junior subordinated debt	$	26,804	$	26,804
Note payable		590		612
Total	$	27,394	$	27,416

Schedule of Maturities of Long-Term Debt [Table Text Block]

(in thousands)
Year Ending December 31,	*Amounts*
2024	$	27
2025		26
2026		28
2027		29
2028		30
Thereafter		27,254
Total	$	27,394

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69B

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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

Note 3 - Mortgage-backed Securities - MBS Portfolio (Details) - USD ($)
$ in Thousands

Dec. 31, 2023

Dec. 31, 2022

Fixed Rate Mortgages [Member]

Par value

$ 88,807

$ 44,963

Cost

^[1]

91,701

46,603

Fair value

90,181

42,974

Structured Mortgage-backed Securities [Member]

Cost

^[1],[2]

1,787

2,053

Fair value

^[2]

2,550

2,919

Collateralized Mortgage-Backed Securities [Member]

Par value

88,807

44,963

Cost

^[1]

93,488

48,656

Fair value

$ 92,731

$ 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 $18.9 million and $21.8 million as of December 31, 2023 and 2022, respectively.

Note 11 - Commitments and Contingencies

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Commitments and Contingencies Disclosure [Text Block]

NOTE 11. COMMITMENTS AND CONTINGENCIES

From time to time, the Company may become involved in various claims and legal actions arising in the ordinary course of business.

In April 2020 and November 2021, the Company received demands for payment from Citigroup, Inc. in the total amount of $33.3 million related to the indemnification provisions of various mortgage loan purchase agreements entered into prior to the date Royal Palm’s mortgage origination operations ceased in 2007. The Company believes the demands are without merit and intends to defend against the demands vigorously if pursued by Citigroup. No provision or accrual has been recorded related to the Citigroup demands.

Management is not aware of any other significant reported or unreported contingencies at December 31, 2023.

Note 3 - Mortgage-backed Securities (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Structured Mortgage-backed Securities [Member]
Notional Amount of Nonderivative Instruments	$ 18.9	$ 21.8

Note 12 - Income Taxes - Income Tax Benefit (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Current	$ 0	$ 0
Deferred	4,131,000	11,858,000
Income tax provision, net	$ 4,130,563	$ 11,858,069

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Consolidated Balance Sheets - USD ($)	Dec. 31, 2023	Dec. 31, 2022
ASSETS:
Total mortgage-backed securities	$ 92,730,852	$ 45,893,436
Cash and cash equivalents	3,716,386	6,010,799
Restricted cash	753,900	763,000
Investment in Orchid Island Capital, Inc. common stock, at fair value	4,797,269	5,975,248
Accrued interest receivable	488,660	204,018
Property and equipment, net	1,920,823	1,997,313
Deferred tax assets, net of allowances	19,047,680	23,178,243
Other assets	1,129,038	1,164,181
Total Assets	125,598,014	86,316,951
LIABILITIES:
Repurchase agreements	86,906,999	43,817,999
Long-term debt	27,394,417	27,416,239
Accrued interest payable	260,413	194,629
Other liabilities	2,908,444	2,764,005
Total Liabilities	117,470,273	74,192,872
Commitments and Contingencies (Note 11)
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	0	0
Additional paid-in capital	329,815,150	329,828,268
Accumulated deficit	(321,697,478)	(317,714,273)
Stockholders' Equity	8,127,741	12,124,079
Total Liabilities and Equity	125,598,014	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 shares and 10,019,888 shares issued and outstanding, respectively	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 shares and 10,019,888 shares issued and outstanding, respectively	32	32
Common Class C [Member]
STOCKHOLDERS' EQUITY:
Class A Common stock, $0.001 par value; 98,000,000 shares designated: 10,005,457 shares and 10,019,888 shares issued and outstanding, respectively	32	32
Related Party [Member]
ASSETS:
Due from affiliates	1,013,406	1,130,713
Asset Pledged as Collateral [Member]
ASSETS:
Total mortgage-backed securities	92,575,292	45,716,793
Restricted cash	754,000	763,000
Accrued interest receivable	486,000	200,000
Total Assets	93,815,000	46,680,000
Asset Not Pledged as Collateral [Member]
ASSETS:
Total mortgage-backed securities	$ 155,560	$ 176,643

Note 12 - Income Taxes

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Income Tax Disclosure [Text Block]

NOTE 12. INCOME TAXES

In 2023, the Company recorded an income tax provision of $4.1 million, including a $2.7 million increase in the deferred tax asset valuation allowance, primarily as a result of management’s reassessment of the Company’s ability to utilize net operating losses (“NOLs”) and capital loss carryforwards to offset future taxable income. In 2022, the Company recorded an income tax provision of $11.9 million, including a $12.2 million increase in the deferred tax asset valuation allowance as a result of management’s reassessment of the Company’s ability to utilize NOLs and capital loss carryforwards to offset future taxable income. The Company is unable to reliably estimate an annual effective tax rate; therefore, it uses the discrete-period computation method for determining its income tax (benefit) provision. The Company's income tax (benefit) provision is affected by numerous factors, including the projected utilization of net operating loss carryovers and changes in its deferred tax assets and liabilities and their valuations.

The income tax provision included in the consolidated statements of operations consists of the following for the years ended December 31, 2023 and 2022:

(in thousands)
	*2023*		*2022*
Current	$	-	$	-
Deferred		4,131		11,858
Income tax provision, net	$	4,131	$	11,858

The income tax provision differs from the amount computed by applying the federal income tax statutory rate of 21 percent on income or loss before income tax expense. A reconciliation for the years ended December 31, 2023 and 2022 is presented in the table below.

(in thousands)
	*2023*			*2022*
Federal tax provision (benefit) based on statutory rate applicable for each year	$	31		$	(1,673	)
State income tax benefit		(22	)		(344	)
Non-deductible expenses		1,443			1,249
Increase of deferred tax asset valuation allowance		2,653			12,188
Other		26			438
Income tax provision	$	4,131		$	11,858

Deferred tax assets consisted of the following as of December 31, 2023 and 2022:

(in thousands)
	*2023*			*2022*
Deferred tax assets:
Net operating loss carryforwards	$	55,399		$	56,278
Orchid Island Capital, Inc. common stock		4,626			4,530
MBS unrealized losses and gains		586			1,118
Capital loss carryforwards		2,146			2,395
Management agreement		813			813
Other		103			16
		63,673			65,150
Valuation allowance		(44,625	)		(41,972	)
Net deferred tax assets	$	19,048		$	23,178

As of December 31, 2023 and 2022, the Company had federal NOL carryforwards of approximately $257.2 million and $260.7 million, respectively, and Florida NOL carryforwards of $32.0 million and $35.5 million, respectively. The NOL carryforwards can be used to offset future taxable income and will begin to expire in 2026.

In connection with Orchid’s 2013 IPO, Bimini Advisors paid for, and expensed for GAAP purposes, certain offering costs totaling approximately $3.2 million. For tax purposes, these offering costs created an intangible asset related to the Orchid management agreement with a tax basis of $3.2 million. The deferred tax asset related to the intangible asset at December 31, 2023 and 2022 totaled $0.8 million and $0.8 million, respectively.

In assessing the realizability of deferred tax assets, management considers both positive and negative evidence whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of capital loss and NOL carryforwards is dependent upon the generation of future capital gains and taxable income in periods prior to their expiration. As of December 31, 2023, the valuation allowance recognized against the deferred tax asset is based on management’s estimated projections of future taxable income, and the projected ability to utilize the NOL carryforwards to offset that projected taxable income before the NOLs expire. Utilization of the NOLs is based on these estimates and the assumptions that management will be able to reinvest retained earnings in order to grow the MBS portfolio going forward and that market value will not be eroded due to adverse market conditions or hedging inefficiencies. With respect to the taxable income projections, management estimates the dividends expected to be received on its Orchid share holdings as well as the management fees and overhead sharing payments it will receive from Orchid. With respect to the MBS portfolio, management makes estimates of various metrics such as the yields on the assets it plans to acquire, its future funding and interest costs, future prepayment speeds and net interest margin, among others. Estimates were also made for other assets and expenses. Changes in the taxable income projections have a direct impact on the amount of the valuation allowance, and the impact in any reporting period may be significant. These estimates and assumptions may change from year to year to the extent Orchid’s book value changes, thus changing projected management fees and overhead sharing payments, and/or market conditions, including changes in interest rates, such that estimates with respect to the portfolio metrics warrant revisions.

The Company has not identified any unrecognized tax benefits that would result in liabilities its consolidated financial statements. The Company has not had any settlements in the current period with taxing authorities and is not currently under audit. Additionally, no tax benefits have been recognized in the consolidated financial statements as a result of a lapse of the applicable statute of limitations.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Name Accounting Standards Codification
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-Paragraph 1
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Note 15 - Segment Information (Details Textual)	12 Months Ended
Note 15 - Segment Information (Details Textual)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Number of Reportable Segments	2
Revenues	$ 17,930,750	$ 16,150,685
Orchid Island Capital [Member]
Revenues	$ 13,600,000	$ 13,000,000
Orchid Island Capital [Member] \| Customer Concentration Risk [Member] \| Revenue Benchmark [Member]
Concentration Risk, Percentage	76.00%	80.00%

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

+ Details

Note 1 - Organization and Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Notes Tables

Schedule of Cash and Cash Equivalents [Table Text Block]

	*2023*		*2022*
Cash and cash equivalents	$	3,716,386	$	6,010,799
Restricted cash		753,900		763,000
Total cash, cash equivalents and restricted cash	$	4,470,286	$	6,773,799

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Dec. 31, 2023	Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (3,983,205)	$ (19,823,105)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation	76,490	73,053
Deferred income tax provision	4,130,563	11,858,069
Realized losses on mortgage-backed securities	19,958	858,001
Gains on retained interests in securitizations	0	(65,928)
Changes in operating assets and liabilities:
Accrued interest receivable	(284,642)	25,924
Due from affiliates	117,307	(68,558)
Other assets	35,143	273,200
Accrued interest payable	65,784	139,019
Other liabilities	144,439	51,799
NET CASH PROVIDED BY OPERATING ACTIVITIES	1,698,539	5,476,567
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases	0	(535,330)
Payments received on retained interests in securitizations	0	65,928
Acquisition of property and equipment	0	(46,176)
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES	(47,056,097)	7,620,225
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from repurchase agreements	622,341,000	391,823,690
Principal repayments on repurchase agreements	(579,252,000)	(406,883,690)
Principal repayments on long-term debt	(21,822)	(22,737)
Class A common shares repurchased and retired	(13,133)	(1,052,666)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	43,054,045	(16,135,403)
NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(2,303,513)	(3,038,611)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of the year	6,773,799	9,812,410
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of the year	4,470,286	6,773,799
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest	5,353,171	1,991,991
Orchid Island Capital [Member]
Adjustments to reconcile net loss to net cash provided by operating activities:
Unrealized losses (gains) on investments	1,177,979	6,239,189
Collateralized Mortgage-Backed Securities [Member]
Adjustments to reconcile net loss to net cash provided by operating activities:
Unrealized losses (gains) on investments	198,723	5,915,904
Realized losses on mortgage-backed securities	19,958	858,001
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases	(70,656,530)	(23,191,724)
Sales	18,175,322	23,096,853
Principal repayments	$ 5,425,111	$ 8,230,674

Note 15 - Segment Information - Schedule of Segment Information (Details) - USD ($)

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Advisory services, external customers

$ 13,594,907

$ 12,995,504

Advisory services, other operating segments(1)

^[1]

Interest and dividend income

3,155,000

Interest expense

(2,131,000)

Net revenues

14,020,000

Other expense

(1,866,834)

(12,146,005)

Operating expenses(4)

^[2]

(9,839,000)

Intercompany expenses(1)

^[1]

Income (loss) before income taxes

147,358

(7,965,036)

Year end assets

$ 125,598,014

86,316,951

Operating Segments [Member] | Asset Management [Member]

Advisory services, external customers

12,996,000

Advisory services, other operating segments(1)

^[1]

115,000

Interest and dividend income

Interest expense

Net revenues

13,111,000

Other expense

Operating expenses(4)

^[2]

(7,805,000)

Intercompany expenses(1)

^[1]

Income (loss) before income taxes

5,306,000

Year end assets

1,970,000

Operating Segments [Member] | Investment Portfolio [Member]

Advisory services, external customers

Advisory services, other operating segments(1)

^[1]

Interest and dividend income

3,155,000

Interest expense

(715,000)

Net revenues

2,440,000

Other expense

(12,212,000)

Operating expenses(4)

^[2]

(2,034,000)

Intercompany expenses(1)

^[1]

(115,000)

Income (loss) before income taxes

(11,921,000)

Year end assets

77,483,000

Corporate, Non-Segment [Member]

Advisory services, external customers

Advisory services, other operating segments(1)

^[1]

Interest and dividend income

Interest expense

^[3]

(1,416,000)

Net revenues

(1,416,000)

Other expense

^[4]

66,000

Operating expenses(4)

^[2]

Intercompany expenses(1)

^[1]

Income (loss) before income taxes

(1,350,000)

Year end assets

6,864,000

Intersegment Eliminations [Member]

Advisory services, external customers

Advisory services, other operating segments(1)

^[1]

(115,000)

Interest and dividend income

Interest expense

Net revenues

(115,000)

Other expense

Operating expenses(4)

^[2]

Intercompany expenses(1)

^[1]

115,000

Income (loss) before income taxes

Year end assets

$ 0

[1]	Includes advisory services revenue received by Bimini Advisors from Royal Palm.
[2]	Operating expenses are allocated based on each segment’s proportional share of total revenues.
[3]	Includes interest on long-term debt.
[4]	Includes income recognized on the forgiveness of the PPP loan and gains (losses) on Eurodollar futures contracts entered into as a hedge on junior subordinated notes

Consolidated Statements of Operations - USD ($)	12 Months Ended
Consolidated Statements of Operations - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Revenues:
Advisory services	$ 13,594,907	$ 12,995,504
Interest income	3,311,515	1,862,480
Dividend income from Orchid Island Capital, Inc. common stock	1,024,328	1,292,701
Total revenues	17,930,750	16,150,685
Interest expense:
Repurchase agreements	(3,080,817)	(715,386)
Long-term debt	(2,338,138)	(1,415,624)
Net revenues	12,511,795	14,019,675
Other income (expense):
Realized losses on mortgage-backed securities	(19,958)	(858,001)
(Losses) gains on derivative instruments	(470,379)	800,820
Other income	205	66,269
Other expense, net	(1,866,834)	(12,146,005)
Expenses:
Compensation and related benefits	6,855,288	6,530,349
Direct advisory service costs	1,511,363	1,333,410
Directors' fees and liability insurance	837,333	804,186
Audit, legal and other professional fees	543,002	504,602
Administrative and other expenses	750,617	666,159
Total expenses	10,497,603	9,838,706
Net income (loss) before income tax provision	147,358	(7,965,036)
Income tax provision	4,130,563	11,858,069
Net loss	$ (3,983,205)	$ (19,823,105)
Common Class A [Member]
Basic and Diluted Net Loss Per Share of:
Basic and Diluted (in dollars per share)	$ (0.4)	$ (1.9)
Weighted Average Shares Outstanding:
Basic and Diluted (in shares)	10,015,816	10,393,855
Common Class B [Member]
Basic and Diluted Net Loss Per Share of:
Basic and Diluted (in dollars per share)	$ (0.4)	$ (1.9)
Weighted Average Shares Outstanding:
Basic and Diluted (in shares)	31,938	31,938
Orchid Island Capital [Member]
Revenues:
Dividend income from Orchid Island Capital, Inc. common stock	$ 1,000,000	$ 1,300,000
Other income (expense):
Unrealized gains (losses) on investments	(1,177,979)	(6,239,189)
Collateralized Mortgage-Backed Securities [Member]
Other income (expense):
Unrealized gains (losses) on investments	(198,723)	(5,915,904)
Realized losses on mortgage-backed securities	$ (19,958)	$ (858,001)

Note 13 - Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2023

Notes Tables

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

(in thousands, except per-share information)
	*2023*			*2022*
Basic and diluted EPS per Class A common share:
Loss attributable to Class A common shares:
Basic and diluted	$	(3,971	)	$	(19,762	)
Weighted average common shares:
Class A common shares outstanding at the balance sheet date		10,005			10,020
Effect of weighting		11			374
Weighted average shares-basic and diluted		10,016			10,394
Loss per Class A common share:
Basic and diluted	$	(0.40	)	$	(1.90	)

in thousands, except per-share information)
	2023			2022
Basic and diluted EPS per Class B common share:
Loss attributable to Class B common shares:
Basic and diluted	$	(12	)	$	(61	)
Weighted average common shares:
Class B common shares outstanding at the balance sheet date		32			32
Effect of weighting		-			-
Weighted average shares-basic and diluted		32			32
Loss per Class B common share:
Basic and diluted	$	(0.40	)	$	(1.90	)

Note 15 - Segment Information

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

NOTE 15. SEGMENT INFORMATION

The Company’s operations are classified into two 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, the revenues of the asset management segment consist of management fees and overhead reimbursements received pursuant to a management agreement with Orchid. Total revenue received under this management agreement for the years ended December 31, 2023 and 2022, were approximately $13.6 million and $13.0 million, respectively, accounting for approximately 76% and 80% of consolidated revenues, respectively.

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 years ended December 31, 2023 and 2022 is as follows:

(in thousands)
	*Asset Management*			*Investment Portfolio*			*Corporate*				*Eliminations*			*Total*
2023
Advisory services, external customers	$	13,595		$	-		$	-			$	-		$	13,595
Advisory services, other operating segments⁽¹⁾		124			-			-				(124	)		-
Interest and dividend income		-			4,334			2				-			4,336
Interest expense		-			(3,081	)		(2,338	)	(2)		-			(5,419	)
Net revenues		13,719			1,253			(2,336	)			(124	)		12,512
Other expense		-			(1,867	)		-		(3)		-			(1,867	)
Operating expenses⁽⁴⁾		(7,848	)		(2,649	)		(1	)			-			(10,498	)
Intercompany expenses⁽¹⁾		-			(124	)		-				124			-
Income (loss) before income taxes	$	5,871		$	(3,387	)	$	(2,337	)		$	-		$	147
Year end assets	$	1,853		$	117,012		$	6,733			$	-		$	125,598

	*Asset Management*			*Investment Portfolio*			*Corporate*				*Eliminations*			*Total*
2022
Advisory services, external customers	$	12,996		$	-		$	-			$	-		$	12,996
Advisory services, other operating segments⁽¹⁾		115			-			-				(115	)		-
Interest and dividend income		-			3,155			-				-			3,155
Interest expense		-			(715	)		(1,416	)	(2)		-			(2,131	)
Net revenues		13,111			2,440			(1,416	)			(115	)		14,020
Other (expense) income		-			(12,212	)		66		(3)		-			(12,146	)
Operating expenses⁽⁴⁾		(7,805	)		(2,034	)		-				-			(9,839	)
Intercompany expenses⁽¹⁾		-			(115	)		-				115			-
Income (loss) before income taxes	$	5,306		$	(11,921	)	$	(1,350	)		$	-		$	(7,965	)
Year end assets	$	1,970		$	77,483		$	6,864			$	-		$	86,317

(1)	Includes advisory services revenue received by Bimini Advisors from Royal Palm.

(2)	Includes interest on long-term debt.

(3)	Includes income recognized on the forgiveness of the PPP loan and gains (losses) on Eurodollar futures contracts entered into as a hedge on junior subordinated notes.

(4)	Corporate expenses are allocated based on each segment’s proportional share of total revenues.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Note 16 - Related Party Transactions (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Investment Income, Dividend	$ 1,024,328	$ 1,292,701
Orchid Island Capital [Member]
Equity Method Investment, Ownership Percentage	1.10%	1.60%
Investment Income, Dividend	$ 1,000,000	$ 1,300,000

Note 4 - Property and Equipment, Net

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

NOTE 4. PROPERTY AND EQUIPMENT, NET

The composition of property and equipment at December 31, 2023 and 2022 follows:

(in thousands)
	*2023*			*2022*
Land	$	1,185		$	1,185
Buildings and improvements		1,827			1,827
Computer equipment and software		45			45
Office furniture and equipment		220			220
Total cost		3,277			3,277
Less accumulated depreciation and amortization		(1,356	)		(1,280	)
Property and equipment, net	$	1,921		$	1,997

Note 14 - Fair Value (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Retained Interest, Fair Value Disclosure	$ 0	$ 0

Note 13 - Earnings Per Share

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Earnings Per Share [Text Block]

NOTE 13. EARNINGS PER SHARE

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-class method, and consequently is presented separately from Class A common stock. Shares of Class B common stock are not included in the computation of diluted Class A EPS as the conditions for conversion to Class A common stock were not met at December 31, 2023 and 2022.

Shares of Class C common stock are not included in the basic EPS computation as these shares do not have participation rights. Shares of Class C common stock are not included in the computation of diluted Class A EPS as the conditions for conversion to Class A common stock were not met at December 31, 2023 and 2022.

The table below reconciles the numerators and denominators of the basic and diluted EPS.

(in thousands, except per-share information)
	*2023*			*2022*
Basic and diluted EPS per Class A common share:
Loss attributable to Class A common shares:
Basic and diluted	$	(3,971	)	$	(19,762	)
Weighted average common shares:
Class A common shares outstanding at the balance sheet date		10,005			10,020
Effect of weighting		11			374
Weighted average shares-basic and diluted		10,016			10,394
Loss per Class A common share:
Basic and diluted	$	(0.40	)	$	(1.90	)

in thousands, except per-share information)
	2023			2022
Basic and diluted EPS per Class B common share:
Loss attributable to Class B common shares:
Basic and diluted	$	(12	)	$	(61	)
Weighted average common shares:
Class B common shares outstanding at the balance sheet date		32			32
Effect of weighting		-			-
Weighted average shares-basic and diluted		32			32
Loss per Class B common share:
Basic and diluted	$	(0.40	)	$	(1.90	)

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

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 consolidated financial statements are prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States (“GAAP”). In the opinion of management, all adjustments considered necessary for a fair presentation of the Company's consolidated financial position, results of operations and cash flows have been included and are of a normal and recurring nature.

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 significantly differ from those estimates. Significant estimates affecting the accompanying consolidated financial statements include determining the fair values of MBS and derivatives, 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.

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 described in this note with the exception that inter-segment revenues and expenses are included in the presentation of segment results. For further information see Note 15.

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 expected to result in the Company obtaining a controlling financial interest in these VIEs in the future. As a result, the Company does not consolidate these VIEs and accounts for the interest in these VIEs as mortgage-backed securities. See Note 3. The maximum exposure to loss for these VIEs is the carrying value of the mortgage-backed securities. Bimini Capital has a common share investment in a trust, Bimini Capital Trust II, ("BCTII"), used in connection with the issuance of Bimini Capital's junior subordinated notes. BCTII is a VIE, as the holders of the equity investment at risk do not have adequate decision making ability over BCTII’s activities. Bimini Capital's investment was financed directly by BCTII as a result of its loan of the proceeds to Bimini Capital, therefore that investment is not an equity investment at risk and is not a variable interest. Since Bimini Capital is not the primary beneficiary of BCTII, the Company has not consolidated the financial statements of BCTII into its consolidated financial statements, and this investment is accounted for on the equity method. See Note 9.

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 months or less at the time of purchase. Restricted cash includes cash pledged as collateral for repurchase agreements and margin for derivative instruments. The following table presents the Company’s cash, cash equivalents and restricted cash as of December 31, 2023 and 2022.

	*2023*		*2022*
Cash and cash equivalents	$	3,716,386	$	6,010,799
Restricted cash		753,900		763,000
Total cash, cash equivalents and restricted cash	$	4,470,286	$	6,773,799

The Company maintains cash balances at several banks and excess margin with two exchange clearing members. At times, balances may exceed federally insured limits. The Company has not experienced any losses related to these balances. The Federal Deposit Insurance Corporation insures eligible accounts up to $250,000 per depositor at each financial institution. Restricted cash balances are uninsured, but are held in separate accounts that are segregated from the general funds of the counterparty. The Company limits uninsured balances to only large, well-known banks and exchange clearing members and believes that it is not exposed to significant credit risk on cash and cash equivalents or restricted cash balances.

Advisory Services [Policy Text Block]

Advisory Services

Bimini Advisors manages and advises Orchid pursuant to the terms of a management agreement. See Note 2. Under the terms of the management agreement, Orchid is obligated to pay Bimini Advisors a monthly management fee and a pro rata portion of certain overhead costs and to reimburse the Company for any direct expenses incurred on its behalf. Revenues from management fees are recognized over the period of time in which the service is performed.

Marketable Securities, Policy [Policy Text Block]

Mortgage-Backed Securities

The Company invests primarily in 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 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 settled as of the balance sheet date are included in the MBS balance with an offsetting liability recorded, whereas securities sold that have not settled as of the balance sheet date are removed from the MBS balance with an offsetting receivable recorded.

Fair value is defined as the price that would be received to sell the asset or paid to transfer 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-party broker quotes, when available.

Income on PT MBS is based on the stated interest rate of the security. Premiums or discounts present at the date of purchase are not amortized. Premium lost and discount accretion resulting from monthly principal repayments are reflected in unrealized gains and losses on MBS in the consolidated statements of operations. For IO securities, the income is accrued based on the carrying value and the effective yield. The difference between income accrued and the interest received on the security is characterized as a return of investment and serves to reduce the asset’s carrying value. At each reporting date, the effective yield is adjusted prospectively for future reporting periods based on the new estimate of prepayments and the contractual terms of the security. For IIO securities, effective yield and income recognition calculations also take into account the index value applicable to the security. Changes in fair value of MBS during each reporting period are recorded in earnings and reported as unrealized gains or losses on mortgage-backed securities in the accompanying consolidated statements of operations. The amount reported as unrealized gains or losses on mortgage-backed securities thus captures the net effect of changes in the fair market value of securities caused by market developments and any premium or discount lost as a result of principal repayments during the period. Realized gains and losses on sales of MBS, using the specific identification method, are reported as a separate component of net portfolio income on the statement of operations.

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” inputs based on the quoted market price of Orchid’s common stock on a national stock exchange.

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 continue to do so in the future. The principal instruments that the Company has used are interest rate futures contracts, and “to-be-announced” (“TBA”) securities.

The Company accounts for TBA securities as derivative instruments. Other types of derivative instruments may be used in the future. Gains and losses associated with derivative transactions are reported in gain (loss) on derivative instruments in the accompanying consolidated statements of operations.

During the year ended December 31, 2023, the Company only held T-Note and SOFR futures contracts. The Company recorded (loss) income of approximately $(0.5) million and $0.8 million on these instruments during the years ended December 31, 2023 and 2022, respectively.

Derivative instruments are carried at fair value, and changes in fair value are recorded in the consolidated statements of operations for each period. The Company’s derivative financial instruments are not designated as hedge accounting relationships, but rather are used as economic hedges of its portfolio assets and liabilities. Gains and losses on derivatives, except those that result in cash receipts or payments, are included in operating activities on the statements of cash flows. Cash payments and cash receipts from settlements of derivatives, including current period net cash settlements on interest rate swaps, is classified as an investing activity on the statements of cash flows. The Company's derivative agreements generally contain provisions that allow for netting or setting off derivative assets and liabilities with the counterparty; however, related assets and liabilities are reported on a gross basis in the Company's consolidated balance sheets. Derivative instruments in a gain position are reported as derivative assets at fair value and derivative instruments in a loss position are reported as derivative liabilities at fair value in the consolidated balance sheets.

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 have difficulty recovering its collateral and may not receive payments provided for under the terms of the agreement. The Company’s derivative agreements require it to post or receive collateral to mitigate such risk. In addition, the Company uses only registered central clearing exchanges and well-established commercial banks as counterparties, monitors positions with individual counterparties and adjusts posted collateral as required. The Company’s futures contracts are exchange traded contracts that are valued based on exchange pricing with daily margin requirements. The margin requirement varies based on the market value of the open position and the equity retained in the account. Margin posted is treated as settlement of the outstanding value of the futures contract. Any margin excess or deficit outstanding is recorded as a receivable or payable as of the date of the Company’s balance sheets. The Company realizes gains and losses on these contracts upon expiration equal to the difference between the current fair value of the underlying asset and the contractual price of the futures contract.

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 14.

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 depreciable life, and buildings and improvements with depreciable lives of 30 years. Property and equipment is recorded at acquisition cost and depreciated to their respective salvage values using the straight-line method over the estimated useful lives of the assets. Depreciation is included in administrative and other expenses in the consolidated statement of operations.

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-class method, as applicable for common stock equivalents. However, the common stock equivalents are not included in computing diluted EPS if the result is anti-dilutive.

Outstanding shares of Class B Common Stock, participating and convertible into Class 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-class method and, consequently, are presented separately from Class A Common Stock.

The shares of Class C Common Stock are not included in the basic EPS computation as these shares do not have participation rights. The outstanding shares of Class B and Class C Common Stock are not included in the computation of diluted EPS for the Class A Common Stock as the conditions for conversion into shares of Class A Common Stock were not met.

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 that they will not be realized.

The Company’s U.S. federal income tax returns for years ended on or after December 31, 2020 remain open for examination. Although management believes its calculations for tax returns are correct and the positions taken thereon are reasonable, the final outcome of tax audits could be materially different from the tax returns filed by the Company, and those differences could result in significant costs or benefits to the Company. For tax filing purposes, Bimini Capital and its includable subsidiaries, and Royal Palm and its includable subsidiaries, file as separate tax paying entities.

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 that the position will be sustained upon examination by the relevant taxing authority based on the technical merits of the position. A position that meets this standard is measured at the largest amount of benefit that will more likely than not be realized upon settlement. The difference between the benefit recognized and the tax benefit claimed on a tax return is referred to as an unrecognized tax benefit and is recorded as a liability in the consolidated balance sheets. The Company records income tax-related interest and penalties, if applicable, within the income tax provision.

New Accounting Pronouncements, Policy [Policy Text Block]

Recent Accounting Pronouncements

In March 2020, the FASB issued Accounting Standards Update (“ASU”) 2020-04 “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” ASU 2020-04 provides optional expedients and exceptions to GAAP requirements for modifications on debt instruments, leases, derivatives, and other contracts, related to the expected market transition from the London Interbank Offered Rate (“LIBOR,”), and certain other floating rate benchmark indices, or collectively, IBORs, to alternative reference rates. ASU 2020-04 generally considers contract modifications related to reference rate reform to be an event that does not require contract remeasurement at the modification date nor a reassessment of a previous accounting determination. The Company adopted this ASU during the second quarter of 2023 as the Secured Overnight Financing Rate ("SOFR") replaced LIBOR for the Company's junior subordinated debt positions. The adoption of this ASU did not have a material impact on the Company's financial statements.

In January 2021, the FASB issued ASU 2021-01 “Reference Rate Reform (Topic 848).” ASU 2021-01 expands the scope of ASC 848 to include all affected derivatives and give market participants the ability to apply certain aspects of the contract modification and hedge accounting expedients to derivative contracts affected by the discounting transition. In addition, ASU 2021-01 adds implementation guidance to permit a company to apply certain optional expedients to modifications of interest rate indexes used for margining, discounting or contract price alignment of certain derivatives as a result of reference rate reform initiatives and extends optional expedients to account for a derivative contract modified as a continuation of the existing contract and to continue hedge accounting when certain critical terms of a hedging relationship change to modifications made as part of the discounting transition. The Company adopted this ASU during the second quarter of 2023 as SOFR replaced LIBOR for the Company's junior subordinated debt positions. The adoption of this ASU did not have a material impact on the Company's financial statements.

In November 2023, the FASB issued ASU 2023-07 “Segment Reporting (Topic 280): Improvements to Reportable Segments.” The amendments in ASU 2023-07 improve financial reporting by requiring disclosure of incremental segment information on an annual and interim basis. Amendments in ASU 2023-07 include: a requirement that a public entity provide all annual disclosures about a reportable segment’s profit or loss in its interim period disclosures, disclosure of significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”), disclosure of amounts for other segment items by reportable segment and a description of its composition, clarification that if the CODM uses more than one measure of a segment’s profit or loss in assessing segment performance and deciding how to allocate resources, a public entity may report one or more of those additional measures of segment profit or loss, requires that a public entity disclose the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss, and requires that a public entity that has a single reportable segment provide all the disclosures required by ASU 2023-07 as well as all existing disclosures required in Topic 280. The amendments in ASU 2023-07 are effective for fiscal years beginning after December 15, 2023 and for interim periods within fiscal years beginning after December 15, 2024. The Company is currently evaluating the impact of ASU 2023-07 on its future financial statements.

In December 2023, the FASB ASU 2023-09 “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” The FASB issued ASU 2023-09 to enhance the transparency and decision usefulness of income tax disclosures. The amendments in ASU 2023-09 address investor requests for more transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. The amendments in ASU 2023-09 are effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The Company is currently evaluating the impact of ASU 2023-09 on its future financial statements.

Note 5 - Other Assets and Other Liabilities - Other Assets (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Investment in Bimini Capital Trust II	$ 804,000	$ 804,000
Prepaid expenses	252,000	261,000
Other	73,000	99,000
Total other assets	$ 1,129,038	$ 1,164,181

Note 12 - Income Taxes - Deferred Tax Assets (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Net operating loss carryforwards	$ 55,399,000	$ 56,278,000
Orchid Island Capital, Inc. common stock	4,626,000	4,530,000
MBS unrealized losses and gains	586,000	1,118,000
Capital loss carryforwards	2,146,000	2,395,000
Management agreement	813,000	813,000
Other	103,000	16,000
Deferred Tax Assets, Gross	63,673,000	65,150,000
Valuation allowance	(44,625,000)	(41,972,000)
Net deferred tax assets	$ 19,047,680	$ 23,178,243

Note 10 - Capital Stock

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Equity [Text Block]

NOTE 10. CAPITAL STOCK

Authorized Shares

The total number of shares of capital stock which the Company has the authority to issue is 110,000,000 shares, classified as 100,000,000 shares of common stock, and 10,000,000 shares of preferred stock. The Board of Directors has the authority to classify any unissued shares by setting or changing in any one or more respects the preferences, conversion or other rights, voting powers, restrictions, limitations as to dividends, qualifications or terms or conditions of redemption of such shares.

Common Stock

Of the 100,000,000 authorized shares of common stock, 98,000,000 shares were designated as Class A common stock, 1,000,000 shares were designated as Class B common stock and 1,000,000 shares were designated as Class C common stock. Holders of shares of common stock have no sinking fund or redemption rights and have no pre-emptive rights to subscribe for any of the Company’s securities. All common shares have a $0.001 par value.

Class A Common Stock

Each outstanding share of Class A common stock entitles the holder to one vote on all matters submitted to a vote of stockholders, including the election of directors. Holders of shares of Class A common stock are not entitled to cumulate their votes in the election of directors.

Subject to the preferential rights of any other class or series of stock and to the provisions of the Company's charter, as amended, regarding the restrictions on transfer of stock, holders of shares of Class A common stock are entitled to receive dividends on such stock if, as and when authorized and declared by the Board of Directors.

Class B Common Stock

Each outstanding share of Class B common stock entitles the holder to one vote on all matters submitted to a vote of common stockholders, including the election of directors. Holders of shares of Class B common stock are not entitled to cumulate their votes in the election of directors. Holders of shares of Class A common stock and Class B common stock shall vote together as one class in all matters except that any matters which would adversely affect the rights and preferences of Class B common stock as a separate class shall require a separate approval by holders of a majority of the outstanding shares of Class B common stock. Holders of shares of Class B common stock are entitled to receive dividends on each share of Class B common stock in an amount equal to the dividends declared on each share of Class A common stock if, as and when authorized and declared by the Board of Directors.

Each share of Class B common stock shall automatically be converted into one share of Class A common stock on the first day of the fiscal quarter following the fiscal quarter during which the Company's Board of Directors were notified that, as of the end of such fiscal quarter, the stockholders' equity attributable to the Class A common stock, calculated on a pro forma basis as if conversion of the Class B common stock (or portion thereof to be converted) had occurred, and otherwise determined in accordance with GAAP, equals no less than $150.00 per share (adjusted equitably for any stock splits, stock combinations, stock dividends or the like); provided, that the number of shares of Class B common stock to be converted into Class A common stock in any quarter shall not exceed an amount that will cause the stockholders' equity attributable to the Class A common stock calculated as set forth above to be less than $150.00 per share; provided further, that such conversions shall continue to occur until all shares of Class B common stock have been converted into shares of Class A common stock; and provided further, that the total number of shares of Class A common stock issuable upon conversion of the Class B common stock shall not exceed 3% of the total shares of common stock outstanding prior to completion of an initial public offering of Bimini Capital's Class A common stock.

Class C Common Stock

No dividends will be paid on the Class C common stock. Holders of shares of Class C common stock are not entitled to vote on any matter submitted to a vote of stockholders, including the election of directors, except that any matters that would adversely affect the rights and privileges of the Class C common stock as a separate class shall require the approval of a majority of the Class C common stock.

Each share of Class C common stock shall automatically be converted into one share of Class A common stock on the first day of the fiscal quarter following the fiscal quarter during which the Company's Board of Directors were notified that, as of the end of such fiscal quarter, the stockholders' equity attributable to the Class A common stock, calculated on a pro forma basis as if conversion of the Class C common stock had occurred and giving effect to the conversion of all of the shares of Class B common stock as of such date, and otherwise determined in accordance with GAAP, equals no less than $150.00 per share (adjusted equitably for any stock splits, stock combinations, stock dividends or the like); provided, that the number of shares of Class C common stock to be converted into Class A common stock shall not exceed an amount that will cause the stockholders' equity attributable to the Class A common stock calculated as set forth above to be less than $150.00 per share; and provided further, that such conversions shall continue to occur until all shares of Class C common stock have been converted into shares of Class A common stock and provided further, that the total number of shares of Class A common stock issuable upon conversion of the Class C common stock shall not exceed 3% of the total shares of common stock outstanding prior to completion of an initial public offering of Bimini Capital's Class A common stock.

Preferred Stock

General

There are 10,000,000 authorized shares of preferred stock, with a $0.001 par value per share. The Company's Board of Directors has the authority to classify any unissued shares of preferred stock and to reclassify any previously classified but unissued shares of any series of preferred stock previously authorized by the Board of Directors. Prior to issuance of shares of each class or series of preferred stock, the Board of Directors is required by the Company’s charter to fix the terms, preferences, conversion or other rights, voting powers, restrictions, limitations as to dividends or other distributions, qualifications and terms or conditions of redemption for each such class or series.

Classified and Designated Shares

Pursuant to the Company’s supplementary amendment of its charter, effective November 3, 2005, and by resolutions adopted on September 29, 2005, the Company’s Board of Directors classified and designated 1,800,000 shares of the authorized but unissued preferred stock, $0.001 par value, as Class A Redeemable Preferred Stock and 2,000,000 shares of the authorized but unissued preferred stock as Class B Redeemable Preferred Stock.

Preferred Stock

The Class A Redeemable Preferred Stock and Class B Redeemable Preferred Stock rank equal to each other and shall have the same preferences, rights, voting powers, restrictions, limitations as to dividends and other distributions, qualifications and terms; provided, however that the redemption provisions of the Class A Redeemable Preferred Stock and the Class B Redeemable Preferred Stock differ. Each outstanding share of Class A Redeemable Preferred Stock and Class B Redeemable Preferred Stock shall have one-fifth of a vote on all matters submitted to a vote of stockholders (or such lesser fraction of a vote as would be required to comply with the rules and regulations of the NYSE relating to the Company’s right to issue securities without obtaining a stockholder vote). Holders of shares of preferred stock shall vote together with holders of shares of common stock as one class in all matters that would be subject to a vote of stockholders.

The previously outstanding shares of Class A Redeemable Preferred Stock were converted into Class A common stock on April 28, 2006. No shares of the Class B Redeemable Preferred Stock have ever been issued.

In 2015 the Board approved Articles Supplementary to the Company’s charter reclassifying and designating 1,800,000 shares of authorized but unissued Class A Redeemable Preferred Stock and 2,000,000 shares of authorized but unissued Class B Redeemable Preferred Stock into undesignated preferred stock, par value $0.001 per share, of the Company (“Preferred Stock”). After giving effect to the reclassification and designation of the shares of Class A Preferred Stock and Class B Preferred Stock, the Company has authority to issue 10,000,000 shares of undesignated Preferred Stock and no shares of Class A Preferred Stock or Class B Preferred Stock. The Articles Supplementary were filed with the State Department of Assessments and Taxation of Maryland (the “SDAT”) and became effective upon filing on December 21, 2015.

In 2015 the Board approved Articles Supplementary to the Company’s charter creating a new series of Preferred Stock designated as Series A Junior Preferred Stock, par value $0.001 per share, of the Company (the “Series A Preferred Stock”). The Articles Supplementary were filed with the SDAT and became effective upon filing on December 21, 2015.

Rights Plan

On December 21, 2015 the Board adopted a rights agreement and declared a distribution of one preferred stock purchase right (“Right”) for each outstanding share of the Company’s Class A common stock, Class B common stock, and Class C common stock. The distribution was payable to stockholders of record as of the close of business on December 21, 2015.

The Rights. Subject to the terms, provisions and conditions of the Rights Plan, if the Rights become exercisable, each Right would initially represent the right to purchase from the Company one ten-thousandth of a share of Series A Preferred Stock for a purchase price of $4.76, subject to adjustment in accordance with the terms of the Rights Plan (the “Purchase Price”). If issued, each fractional share of Series A Preferred Stock would give the stockholder approximately the same distribution, voting and liquidation rights as does one share of the Company’s Class A common stock. However, prior to exercise, a Right does not give its holder any rights as a stockholder of the Company, including without limitation any distribution, voting or liquidation rights.

Exercisability. The Rights will generally not be exercisable until the earlier of (i) 10 business days after a public announcement by the Company that a person or group has acquired 4.9% or more of the outstanding Class A common stock without the approval of the Board of Directors (an “Acquiring Person”) and (ii) 10 business days after the commencement of a tender or exchange offer by a person or group for 4.9% or more of the Class A common stock.

The date that the Rights may first become exercisable is referred to as the “Distribution Date.” Until the Distribution Date, the Class A common stock, Class B common stock and Class C common stock certificates will represent the Rights and will contain a notation to that effect. Any transfer of shares of Class A common stock, Class B common stock and/or Class C common stock prior to the Distribution Date will constitute a transfer of the associated Rights. After the Distribution Date, the Rights may be transferred other than in connection with the transfer of the underlying shares of Class A common stock, Class B common stock or Class C common stock.

After the Distribution Date and following a determination by the Board that a person is an Acquiring Person, each holder of a Right, other than Rights beneficially owned by the Acquiring Person (which will thereupon become void), will thereafter have the right to receive upon exercise of a Right and payment of the Purchase Price, that number of shares of Class A common stock, Class B common stock or Class C common stock, as the case may be, having a market value of two times the Purchase Price (or, at our option, shares of Series A Preferred Stock or other consideration as provided in the Rights Plan).

Exchange. After the Distribution Date and following a determination by the Board that a person or group is an Acquiring Person, the Board may exchange the Rights (other than Rights owned by such an Acquiring Person which will have become void), in whole or in part, at an exchange ratio of one share of Class A common stock, Class B common stock or Class C common stock, as the case may be, or a fractional share of Series A Preferred Stock (or of a share of a similar class or series of the Company’s preferred stock having similar Rights, preferences and privileges) of equivalent value, per Right (subject to adjustment).

Expiration. The Rights and the Rights Plan will expire on the earliest of (i) December 21, 2025, (ii) the time at which the Rights are redeemed pursuant to the Rights Plan, (iii) the time at which the Rights are exchanged pursuant to the Rights Plan, (iv) the repeal of Section 382 of the Code or any successor statute if the Board determines that the Rights Plan is no longer necessary for the preservation of the applicable tax benefits, (v) the beginning of a taxable year of the Company to which the Board determines that no applicable tax benefits may be carried forward and (vi) the close of business on June 30, 2016 if approval of the Rights Plan by the Company’s stockholders has not been obtained.

Redemption. At any time prior to the time an Acquiring Person becomes such, the Board may redeem the Rights in whole, but not in part, at a price of $0.001 per Right (the “Redemption Price”). The redemption of the Rights may be made effective at such time, on such basis and with such conditions as the Board in its sole discretion may establish. Immediately upon any redemption of the Rights, the right to exercise the Rights will terminate and the only right of the holders of Rights will be to receive the Redemption Price.

Anti-Dilution Provisions. The Board may adjust the Purchase Price, the number of shares of Series A Preferred Stock or other securities issuable and the number of outstanding Rights to prevent dilution that may occur as a result of certain events, including among others, a stock dividend, a forward or reverse stock split or a reclassification of the preferred shares or Class A common stock, Class B common stock or Class C common stock. No adjustments to the Purchase Price of less than 1% will be made.

Anti-Takeover Effects. While this was not the purpose of the Board when adopting the Rights Plan, the Rights will have certain anti-takeover effects. The Rights will cause substantial dilution to any person or group that attempts to acquire the Company without the approval of the Board. As a result, the overall effect of the Rights may be to render more difficult or discourage any attempt to acquire the Company even if such acquisition may be favorable to the interests of the Company’s stockholders. Because the Board can redeem the Rights, the Rights should not interfere with a merger or other business combination approved by the Board.

Amendments. Before the Distribution Date, the Board may amend or supplement the Rights Plan without the consent of the holders of the Rights. After the Distribution Date, the Board may amend or supplement the Rights Plan only to cure an ambiguity, to alter time period provisions, to correct inconsistent provisions, or to make any additional changes to the Rights Plan, but only to the extent that those changes do not impair or adversely affect, in any material respect, any Rights holder and do not result in the Rights again becoming redeemable, and no such amendment may cause the Rights again to become redeemable or cause this Rights Plan again to become amendable other than in accordance with the applicable timing of the Rights Plan.

There were no issuances of the Company's Class A Common Stock, Class B Common Stock or Class C Common Stock during the years ended December 31, 2023 and 2022.

Stock Repurchase Plans

On September 16, 2021, the Board authorized a share repurchase plan pursuant to Rule 10b5-1 of the Securities Exchange Act of 1934 (the “2021 Repurchase Plan”). Pursuant to the 2021 Repurchase Plan, the Company could purchase shares of its Class A Common Stock from time to time for an aggregate purchase price not to exceed $2.5 million. Share repurchases could be executed through various means, including, without limitation, open market transactions. The 2021 Repurchase Plan did not obligate the Company to purchase any shares, and expired on September 16, 2023. The authorization for the 2021 Repurchase Plan could be terminated, increased or decreased by the Company’s Board of Directors in its discretion at any time. From the commencement of the 2021 Repurchase Plan, through its expiration on September 16, 2023, the Company repurchased a total of 789,024 shares at an aggregate cost of approximately $1.3 million, including commissions and fees, for a weighted average price of $1.60 per share. During the year ended December 31, 2023, the Company repurchased a total of 14,431 shares at an aggregate cost of approximately $13,133, including commissions and fees, for a weighted average price of $0.91 per share under the 2021 repurchase Plan. During the year ended December 31, 2022, the Company repurchased a total of 682,306 shares at an aggregate cost of approximately $1.1 million, including commissions and fees, for a weighted average price of $1.54 per share under the 2021 repurchase Plan.

On March 7, 2024, the Board authorized a share repurchase plan pursuant to Rule 10b5-1 of the Securities Exchange Act of 1934 (the “2024 Repurchase Plan”). Pursuant to the 2024 Repurchase Plan, the Company can purchase shares of its Class A Common Stock from time to time for an aggregate purchase price not to exceed $2.5 million. Share repurchases can be executed through various means, including, without limitation, open market transactions. The 2024 Repurchase Plan does not obligate the Company to purchase any shares, and expires on March 7, 2026. The authorization for the 2024 Repurchase Plan can be terminated, increased or decreased by the Company’s Board of Directors in its discretion at any time.

The Inflation Reduction Act of 2022 signed into law during in August 2022 includes a provision for an excise tax equal to 1% of the fair market value of any stock repurchased by covered corporations during a taxable year, subject to certain limits and provisions, including a $1 million threshold before the tax becomes applicable. The excise tax is effective beginning in 2023. Since the total amount of stock repurchases during the year ended December 31, 2023 was under the $1 million threshold, no excise tax is due for the year ended December 31, 2023.

- Definition

The entire disclosure for equity.

+ References

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+ Details

Note 10 - Capital Stock (Details Textual)		12 Months Ended		33 Months Ended
Note 10 - Capital Stock (Details Textual)	Dec. 21, 2015 $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Sep. 16, 2023 USD ($) $ / shares shares	Mar. 07, 2024 USD ($)	Sep. 16, 2021 USD ($)	Sep. 29, 2015 $ / shares shares	Sep. 29, 2005 shares
Common and Preferred Stock, Shares Authorized (in shares)		110,000,000
Common Stock, Shares Authorized (in shares)		100,000,000
Preferred Stock, Shares Authorized (in shares)		10,000,000	10,000,000
Common Stock, Par or Stated Value Per Share (in dollars per share) \| $ / shares		$ 0.001
Preferred Stock, Par or Stated Value Per Share (in dollars per share) \| $ / shares		$ 0.001	$ 0.001
Preferred Stock, Shares Issued (in shares)		0	0
The 2021 Repurchase Plan [Member]
Stock Repurchase Program, Authorized Amount \| $						$ 2,500,000
Treasury Stock, Shares, Acquired (in shares)		14,431	682,306	789,024
Treasury Stock, Value, Acquired, Cost Method \| $		$ 13,133	$ 1,100,000	$ 1,300,000
Shares Acquired, Average Cost Per Share (in dollars per share) \| $ / shares		$ 0.91	$ 1.54	$ 1.6
The 2024 Repurchase Plan [Member]
Excise Tax Due Under Shares Repurchase Program \| $		$ 0
The 2024 Repurchase Plan [Member] \| Subsequent Event [Member]
Stock Repurchase Program, Authorized Amount \| $					$ 2,500,000
Preferred Stock Purchase Right [Member]
Class of Warrant or Right, Issued Per Outstanding Common Stock Share (in shares)	1
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares)	0.1
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) \| $ / shares	$ 4.76
Percentage of Common Stock Person or Group Acquires to Make Rights Exercisable	4.90%
Acquiring Person, Exercisability, Multiple of Purchase Price	2
Class of Warrant or Right, Redemption Price (in dollars per share) \| $ / shares	$ 0.001
Class of Warrant or Right, Percentage Minimum Adjustment to Purchase Price	1.00%
Common Class A [Member]
Common Stock, Shares Authorized (in shares)		98,000,000	98,000,000
Common Stock, Par or Stated Value Per Share (in dollars per share) \| $ / shares		$ 0.001	$ 0.001
Stock Issued During Period, Shares, New Issues (in shares)		0	0
Common Class B [Member]
Common Stock, Shares Authorized (in shares)		1,000,000	1,000,000
Common Stock, Par or Stated Value Per Share (in dollars per share) \| $ / shares		$ 0.001	$ 0.001
Common Stock, Conversion, Maximum Outstanding Percentage		3.00%
Common Class B [Member] \| Minimum [Member]
Common Stock, Conversion Price (in dollars per share) \| $ / shares		$ 150
Common Class C [Member]
Common Stock, Shares Authorized (in shares)		1,000,000	1,000,000
Common Stock, Par or Stated Value Per Share (in dollars per share) \| $ / shares		$ 0.001	$ 0.001
Common Stock, Conversion, Maximum Outstanding Percentage		3.00%
Common Stock, Dividend Rate \| $		$ 0
Common Class C [Member] \| Minimum [Member]
Common Stock, Conversion Price (in dollars per share) \| $ / shares		$ 150
Class A Redeemable Preferred Stock [Member]
Preferred Stock, Shares Authorized (in shares)	0						1,800,000	1,800,000
Preferred Stock, Par or Stated Value Per Share (in dollars per share) \| $ / shares							$ 0.001
Class B Redeemable Preferred Stock [Member]
Preferred Stock, Shares Authorized (in shares)							2,000,000	2,000,000
Preferred Stock, Shares Issued (in shares)								0
Class A Redeemable Preferred Stock and Class B Redeemable Preferred Stock [Member]
Preferred Stock, Voting Rights, Number of Votes								0.2
Preferred Undesignated [Member]
Preferred Stock, Shares Authorized (in shares)	10,000,000	9,900,000	9,900,000
Preferred Stock, Par or Stated Value Per Share (in dollars per share) \| $ / shares	$ 0.001
Series A Preferred Stock [Member]
Preferred Stock, Shares Authorized (in shares)		100,000	100,000
Preferred Stock, Par or Stated Value Per Share (in dollars per share) \| $ / shares	$ 0.001

Note 14 - Fair Value (Tables)

12 Months Ended

Dec. 31, 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)*
December 31, 2023
Mortgage-backed securities	$	92,731	$	-	$	92,731	$	-
Orchid Island Capital, Inc. common stock		4,797		4,797		-		-
December 31, 2022
Mortgage-backed securities	$	45,893	$	-	$	45,893	$	-
Orchid Island Capital, Inc. common stock		5,975		5,975		-		-

Note 9 - Long-term Debt - Schedule of Debt (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Long-term debt	$ 27,394,417	$ 27,416,239
Junior Subordinated Debt [Member]
Long-term debt	26,804,000	26,804,000
Notes Payable to Banks [Member]
Long-term debt	$ 590,000	$ 612,000

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Insider Trading Arrangements	12 Months Ended
Insider Trading Arrangements	Dec. 31, 2023
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]	*ITEM 9B.* OTHER INFORMATION.** During the quarter ended December 31, 2023, no director or officer of the Company adopted, modified or terminated any Rule 10b5-1 trading arrangement or non-Rule 10b5-1 trading arrangement, each as defined in Item 408 of Regulation S-K.
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false

Consolidated Balance Sheets (Parentheticals) - $ / shares	Dec. 31, 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
Common stock, par value (in dollars per share)	$ 0.001
Common stock, authorized (in shares)	100,000,000
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

Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Dec. 31, 2023	Mar. 07, 2024	Jun. 30, 2022
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	FY
Document Fiscal Year Focus	2023
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 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 Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 5,712,181
Auditor Firm ID	243
Auditor Name	BDO USA, P.C.
Auditor Location	West Palm Beach, Florida
Common Class C [Member]
Document Information [Line Items]
Entity Public Float			1,500
Title of 12(g) Security	Class C Common Stock, $0.001 par value
Entity Common Stock, Shares Outstanding		31,938
Common Class B [Member]
Document Information [Line Items]
Entity Public Float			$ 1,000
Title of 12(g) 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(g) Security	Class A Common Stock, $0.001 par value
Entity Common Stock, Shares Outstanding		10,005,457

Note 1 - Organization and Significant Accounting Policies (Details Textual)	12 Months Ended		24 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2023 USD ($)
Number of Operating Segments	2
Number of Reportable Segments	2
Gain (Loss) on Derivative Instruments Held for Trading Purposes, Net	$ (470,379)	$ 800,820
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	$ (500,000)		$ 800,000

Note 7 - Pledged Assets

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Pledged Assets [Text Block]

NOTE 7. PLEDGED ASSETS

Assets Pledged to Counterparties

The table below summarizes Bimini’s assets pledged as collateral under its repurchase agreements and derivative agreements as of December 31, 2023 and 2022.

($ in thousands)
	*December 31, 2023*						*December 31, 2022*
	*Repurchase*		*Derivative*				*Repurchase*		*Derivative*
Assets Pledged to Counterparties	*Agreements*		*Agreements*		*Total*		*Agreements*		*Agreements*		*Total*
PT MBS - at fair value	$	90,180	$	-	$	90,180	$	42,975	$	-	$	42,975
Structured MBS - at fair value		2,395		-		2,395		2,742		-		2,742
Accrued interest on pledged securities		486		-		486		200		-		200
Cash		-		754		754		454		309		763
Total	$	93,061	$	754	$	93,815	$	46,371	$	309	$	46,680

Assets Pledged from Counterparties

The table below summarizes assets pledged to Bimini from counterparties under repurchase agreements as of December 31, 2023 and 2022. Cash received as margin is recognized in cash and cash equivalents with a corresponding amount recognized as an increase in repurchase agreements in the consolidated balance sheets.

($ in thousands)
Assets Pledged to Bimini	*2023*		*2022*
Cash	$	-	$	148
Total	$	-	$	148

Note 8 - Offsetting Assets And Liabilities - Offsetting of Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 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	$ 86,907	43,818
Gross Amount Of Recognized Liabilties [Member] \| Repurchase Agreements [Member]
Gross amount of liabilities	86,907
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	86,907	43,818
Net Amount Of Liabilities Presented In The Balance Sheet [Member] \| Repurchase Agreements [Member]
Net amount of balance sheet liabilities	86,907
Gross Amount Of Financial Instruments Posted Not Offset in Balance Sheet [Member]
Securities posted as collateral	(86,907)	(43,364)
Gross Amount Of Financial Instruments Posted Not Offset in Balance Sheet [Member] \| Repurchase Agreements [Member]
Securities posted as collateral	(86,907)
Gross Amounts Of Cash Posted Not Offset In Balance Sheet [Member]
Cash posted as collateral	0	(454)
Gross Amounts Of Cash Posted Not Offset In Balance Sheet [Member] \| Repurchase Agreements [Member]
Cash posted as collateral	0
Net Amount Of Liabilities [Member]
Net amount	0	$ 0
Net Amount Of Liabilities [Member] \| Repurchase Agreements [Member]
Net amount	$ 0

Note 4 - Property and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2023

Notes Tables

Property, Plant and Equipment [Table Text Block]

(in thousands)
	*2023*			*2022*
Land	$	1,185		$	1,185
Buildings and improvements		1,827			1,827
Computer equipment and software		45			45
Office furniture and equipment		220			220
Total cost		3,277			3,277
Less accumulated depreciation and amortization		(1,356	)		(1,280	)
Property and equipment, net	$	1,921		$	1,997

Note 1 - Organization and Significant Accounting Policies

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]

NOTE 1. ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES

Business Description

Bimini Capital Management, Inc., a Maryland corporation (“Bimini Capital” and collectively with its subsidiaries, the “Company”) formed in September 2003, is a holding company. The Company operates in two business segments through its principal wholly-owned operating subsidiary, Royal Palm Capital, LLC, which includes its wholly-owned subsidiary, Bimini Advisors Holdings, LLC.

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, Bimini Advisors started providing certain repurchase agreement trading, clearing and administrative services to Orchid that were previously provided by a third party. Bimini Advisors also manages the MBS portfolio of Royal Palm Capital, LLC.

Consolidation

Basis of Presentation

Use of Estimates

Segment Reporting

Variable Interest Entities (VIEs)

Cash and Cash Equivalents and Restricted Cash

	*2023*		*2022*
Cash and cash equivalents	$	3,716,386	$	6,010,799
Restricted cash		753,900		763,000
Total cash, cash equivalents and restricted cash	$	4,470,286	$	6,773,799

Advisory Services

Mortgage-Backed Securities

Orchid Island Capital, Inc. Common Stock

Retained Interests in Securitizations

Derivative Financial Instruments

Financial Instruments

Property and Equipment, net

Repurchase Agreements

Earnings Per Share

Income Taxes

Recent Accounting Pronouncements

Note 6- Repurchase Agreements

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block]

NOTE 6. REPURCHASE AGREEMENTS

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 release collateral back to the Company. As of December 31, 2023, the Company had met all margin call requirements.

As of December 31, 2023 and December 31, 2022, the Company’s repurchase agreements had remaining maturities as summarized below:

($ in thousands)
	*Overnight*		*Between*			*Between*			*Greater*
	*(1 Day*		*2 and*			*31 and*			*Than*
	*or Less)*		*30 DAYS*			*90 Days*			*90 Days*		*Total*
December 31, 2023
Fair value of securities pledged, including accrued interest receivable	$	-	$	68,477		$	24,584		$	-	$	93,061
Repurchase agreement liabilities associated with these securities	$	-	$	63,637		$	23,270		$	-	$	86,907
Net weighted average borrowing rate		-		5.56	%		5.57	%		-		5.56	%
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 as collateral for repurchase agreements was approximately $0.5 million as of 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 December 31, 2023 and December 31, 2022, the Company had an aggregate amount at risk (the difference between the amount loaned to the Company, including interest payable, and the fair value of securities and cash pledged (if any), including accrued interest on such securities) with all counterparties of approximately $6.0 million and $2.5 million, respectively. Summary information regarding amounts at risk with individual counterparties greater than 10% of equity at December 31, 2023 and 2022 is presented in the table below.

($ in thousands)
			*% of*			*Weighted*
			*Stockholders'*			*Average*
	*Amount*		*Equity*			*Maturity*
Repurchase Agreement Counterparty	*at Risk*		*at Risk*			*(in Days)*
December 31, 2023
Mirae Asset Securities (USA) Inc.	$	1,564		19.2	%		18
Citigroup Global Markets, Inc.		1,302		16.0	%		26
Mitsubishi UFJ Securities, Inc.		1,128		13.9	%		23
South Street Securities, LLC		922		11.3	%		52
December 31, 2022
Mirae Asset Securities (USA) Inc.	$	1,322		10.9	%		14

Note 3 - Mortgage-backed Securities (Tables)

12 Months Ended

Dec. 31, 2023

Notes Tables

Marketable Securities [Table Text Block]

(in thousands)
	*2023*						*2022*
	*Par Value*		Cost⁽¹⁾		*Fair Value*		*Par Value*		Cost⁽¹⁾		*Fair Value*
Fixed-rate MBS	$	88,807	$	91,701	$	90,181	$	44,963	$	46,603	$	42,974
Structured MBS⁽²⁾		n/a		1,787		2,550		n/a		2,053		2,919
Total	$	88,807	$	93,488	$	92,731	$	44,963	$	48,656	$	45,893

Gain (Loss) on Securities [Table Text Block]

(in thousands)
	*2023*			*2022*
Proceeds from sales of MBS	$	18,175		$	23,097
Carrying value of MBS sold		18,195			23,955
Net loss on sales of MBS	$	(20	)	$	(858	)

Gross gain sales of MBS	$	-		$	-
Gross loss on sales of MBS		(20	)		(858	)
Net loss on sales of MBS	$	(20	)	$	(858	)

Note 13 - Earnings Per Share - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Common Class B [Member]
Basic and diluted	$ (12)	$ (61)
Common shares outstanding at the balance sheet date (in shares)	32,000	32,000
Effect of weighting (in shares)	0	0
Weighted average shares-basic and diluted (in shares)	31,938	31,938
Basic and diluted (in dollars per share)	$ (0.4)	$ (1.9)
Common Class A [Member]
Basic and diluted	$ (3,971)	$ (19,762)
Common shares outstanding at the balance sheet date (in shares)	10,005,000	10,020,000
Effect of weighting (in shares)	11,000	374,000
Weighted average shares-basic and diluted (in shares)	10,015,816	10,393,855
Basic and diluted (in dollars per share)	$ (0.4)	$ (1.9)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
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-Section 45
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-10

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
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-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 260
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-Section 45
-Paragraph 60B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

+ Details

Note 5 - Other Assets and Other Liabilities - Other Liabilities (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Accrued payroll	$ 2,730,000	$ 2,600,000
Accrued liabilities	136,000	104,000
Accounts payable	42,000	60,000
Total other liabilities	$ 2,908,444	$ 2,764,005

Note 5 - Other Assets and Other Liabilities (Tables)

12 Months Ended

Dec. 31, 2023

Notes Tables

Schedule of Other Assets [Table Text Block]

(in thousands)
	*2023*		*2022*
Investment in Bimini Capital Trust II	$	804	$	804
Prepaid expenses		252		261
Other		73		99
Total other assets	$	1,129	$	1,164

Other Liabilities [Table Text Block]

(in thousands)
	*2023*		*2022*
Accrued payroll	$	2,730	$	2,600
Accrued liabilities		136		104
Accounts payable		42		60
Total other liabilities	$	2,908	$	2,764

Note 14 - Fair Value

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Fair Value Disclosures [Text Block]

NOTE 14. FAIR VALUE

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 valuations, where the valuation is based on quoted market prices for identical assets or liabilities traded in active markets (which include exchanges and over-the-counter markets with sufficient volume),

	●	Level 2 valuations, where the valuation is based on quoted market prices for similar instruments traded in active markets, quoted prices for identical or similar instruments in markets that are not active and model-based valuation techniques for which all significant assumptions are observable in the market, and
	●	Level 3 valuations, where the valuation is generated from model-based techniques that use significant assumptions not observable in the market, but observable based on Company-specific data. These unobservable assumptions reflect the Company’s own estimates for assumptions that market participants would use in pricing the asset or liability. Valuation techniques typically include option pricing models, discounted cash flow models and similar techniques, but may also include the use of market prices of assets or liabilities that are not directly comparable to the subject asset or liability.

The Company's MBS, Orchid common stock, retained interests and TBA securities were all recorded at fair value on a recurring basis as of December 31, 2023 and 2022. When determining fair value measurements, the Company considers the principal or most advantageous market in which it would transact and considers assumptions that market participants would use when pricing the asset. When possible, the Company looks to active and observable markets to price identical assets. When identical assets are not traded in active markets, the Company looks to market observable data for similar assets.

The Company's MBS and TBA securities are valued using Level 2 valuations, and such valuations currently are determined by the Company based on independent pricing sources and/or third party broker quotes. Because the price estimates may vary, the Company must make certain judgments and assumptions about the appropriate price to use to calculate the fair values. The Company and the independent pricing sources use various valuation techniques to determine the price of the Company’s securities. These techniques include observing the most recent market for like or identical assets (including security coupon, maturity, yield, and prepayment speeds), spread pricing techniques to determine market credit spreads (option adjusted spread, zero volatility spread, spread to the U.S. Treasury curve or spread to a benchmark such as a TBA security), and model driven approaches (the discounted cash flow method, Black Scholes and SABR models which rely upon observable market rates such as the term structure of interest rates and volatility). The appropriate spread pricing method used is based on market convention. The pricing source determines the spread of recently observed trade activity or observable markets for assets similar to those being priced. The spread is then adjusted based on variances in certain characteristics between the market observation and the asset being priced. Those characteristics include: type of asset, the expected life of the asset, the stability and predictability of the expected future cash flows of the asset, whether the coupon of the asset is fixed or adjustable, the guarantor of the security if applicable, the coupon, the maturity, the issuer, size of the underlying loans, year in which the underlying loans were originated, loan to value ratio, state in which the underlying loans reside, credit score of the underlying borrowers and other variables if appropriate. The fair value of the security is determined by using the adjusted spread.

The Company’s futures contracts are Level 1 valuations, as they are exchange-traded instruments and quoted market prices are readily available. Futures contracts are settled daily. Retained interests have a recorded fair value of zero as of December 31, 2023 and 2022, as the prospect of future cash flows is uncertain based on a Level 3 valuation analysis. Any cash received from the retained interests is reflected as a gain in the consolidated statements of operations.

The estimated fair value of cash and cash equivalents, restricted cash, accrued interest receivable, other assets, due from affiliates, repurchase agreements, accrued interest payable and other liabilities generally approximates their carrying values due to the short-term nature of these financial instruments as of December 31, 2023 and 2022. The Company estimates the fair value of the cash and cash equivalents and restricted cash using Level 1 inputs, and the accrued interest receivable, other assets, due from affiliates, repurchase agreements, accrued interest payable and other liabilities using Level 2 inputs. The fair value of the Company’s junior subordinated debt approximates its carrying value. The carrying value is a reasonable estimate of fair value since the instrument carries a floating rate that resets frequently. Further information regarding this instrument is presented in Note 9.

The following table presents financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2023 and 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)*
December 31, 2023
Mortgage-backed securities	$	92,731	$	-	$	92,731	$	-
Orchid Island Capital, Inc. common stock		4,797		4,797		-		-
December 31, 2022
Mortgage-backed securities	$	45,893	$	-	$	45,893	$	-
Orchid Island Capital, Inc. common stock		5,975		5,975		-		-

During the years ended December 31, 2023 and 2022, there were no transfers of financial assets or liabilities between levels 1, 2 or 3.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Note 6- Repurchase Agreements (Details Textual) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Restricted Cash and Cash Equivalents, Current	$ 753,900	$ 763,000
Repurchase Agreement Counterparty, Amount at Risk	6,000,000	2,500,000
Asset Pledged as Collateral [Member]
Restricted Cash and Cash Equivalents, Current	754,000	763,000
Asset Pledged as Collateral [Member] \| Securities Sold under Agreements to Repurchase [Member]
Restricted Cash and Cash Equivalents, Current	$ 0	$ 454,000

Note 6 - Repurchase Agreements - Risks With Individual Counterparties (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Amount at risk	$ 6,000	$ 2,500
Mirae Asset Securities (USA) Inc. [Member]
Amount at risk	$ 1,564	$ 1,322
Percent of Stockholders' Equity at Risk	19.20%	10.90%
Weighted Average Maturity (Year)	18 years	14 years
Citigroup Global Markets Inc [Member]
Amount at risk	$ 1,302
Percent of Stockholders' Equity at Risk	16.00%
Weighted Average Maturity (Year)	26 years
Mitsubishi UFJ Securities, Inc [Member]
Amount at risk	$ 1,128
Percent of Stockholders' Equity at Risk	13.90%
Weighted Average Maturity (Year)	23 years
South Street Securities, LLC [Member]
Amount at risk		$ 922
Percent of Stockholders' Equity at Risk	11.30%
Weighted Average Maturity (Year)	52 years

Note 6- Repurchase Agreements (Tables)

12 Months Ended

Dec. 31, 2023

Notes Tables

Schedule of Repurchase Agreements [Table Text Block]

($ in thousands)
	*Overnight*		*Between*			*Between*			*Greater*
	*(1 Day*		*2 and*			*31 and*			*Than*
	*or Less)*		*30 DAYS*			*90 Days*			*90 Days*		*Total*
December 31, 2023
Fair value of securities pledged, including accrued interest receivable	$	-	$	68,477		$	24,584		$	-	$	93,061
Repurchase agreement liabilities associated with these securities	$	-	$	63,637		$	23,270		$	-	$	86,907
Net weighted average borrowing rate		-		5.56	%		5.57	%		-		5.56	%
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)*
December 31, 2023
Mirae Asset Securities (USA) Inc.	$	1,564		19.2	%		18
Citigroup Global Markets, Inc.		1,302		16.0	%		26
Mitsubishi UFJ Securities, Inc.		1,128		13.9	%		23
South Street Securities, LLC		922		11.3	%		52
December 31, 2022
Mirae Asset Securities (USA) Inc.	$	1,322		10.9	%		14

Note 2 - Advisory Services - Advisory Service Revenue (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Advisory services	$ 13,594,907	$ 12,995,504
Orchid Island Capital [Member]
Advisory services	13,595,000	12,996,000
Management Service [Member] \| Orchid Island Capital [Member]
Advisory services	10,491,000	10,447,000
Allocated Overhead [Member] \| Orchid Island Capital [Member]
Advisory services	2,389,000	2,042,000
Repurchase, Clearing and Administrative Fee [Member] \| Orchid Island Capital [Member]
Advisory services	$ 715,000	$ 507,000

- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 40
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Note 7 - Pledged Assets (Tables)

12 Months Ended

Dec. 31, 2023

Notes Tables

Schedule of Financial Instruments Owned and Pledged as Collateral [Table Text Block]

($ in thousands)
	*December 31, 2023*						*December 31, 2022*
	*Repurchase*		*Derivative*				*Repurchase*		*Derivative*
Assets Pledged to Counterparties	*Agreements*		*Agreements*		*Total*		*Agreements*		*Agreements*		*Total*
PT MBS - at fair value	$	90,180	$	-	$	90,180	$	42,975	$	-	$	42,975
Structured MBS - at fair value		2,395		-		2,395		2,742		-		2,742
Accrued interest on pledged securities		486		-		486		200		-		200
Cash		-		754		754		454		309		763
Total	$	93,061	$	754	$	93,815	$	46,371	$	309	$	46,680

Schedule of Financial Instruments Pledged as Collateral From Counterparties [Table Text Block]

($ in thousands)
Assets Pledged to Bimini	*2023*		*2022*
Cash	$	-	$	148
Total	$	-	$	148

Note 6 - Repurchase Agreements - Schedule of Repurchase Agreements (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair value of securities pledged, including accrued interest receivable	$ 93,061	$ 45,917
Repurchase agreement liabilities associated with these securities	$ 86,907	$ 43,818
Net weighted average borrowing rate	5.56%	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	0.00%	0.00%
Maturity Less than 30 Days [Member]
Fair value of securities pledged, including accrued interest receivable	$ 68,477	$ 42,553
Repurchase agreement liabilities associated with these securities	$ 63,637	$ 40,492
Net weighted average borrowing rate	5.56%	4.50%
Maturity 30 to 90 Days [Member]
Fair value of securities pledged, including accrued interest receivable	$ 24,584	$ 3,364
Repurchase agreement liabilities associated with these securities	$ 23,270	$ 3,326
Net weighted average borrowing rate	5.57%	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	0.00%	0.00%

Note 2 - Advisory Services (Details Textual) - Orchid Island Capital [Member]	12 Months Ended
	Dec. 31, 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	1.00%
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	$ 1,000,000	$ 1,100,000

Note 14 - Fair Value - Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Mortgage-backed securities	$ 92,730,852	$ 45,893,436
Fair Value, Recurring [Member]
Mortgage-backed securities	92,731,000	45,893,000
Orchid Island Capital, Inc. common stock	4,797,000	5,975,000
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member]
Mortgage-backed securities	0	0
Orchid Island Capital, Inc. common stock	4,797,000	5,975,000
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member]
Mortgage-backed securities	92,731,000	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