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DOCUMENT AND ENTITY INFORMATION - shares	6 Months Ended
DOCUMENT AND ENTITY INFORMATION - shares	Jun. 30, 2019	Aug. 09, 2019
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Entity Registrant Name	Bimini Capital Management, Inc.
Entity Central Index Key	0001275477
Entity Current Reporting Status	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Ex Transition Period	false
Class A Common Stock [Member]
Entity Common Stock Shares Outstanding		11,608,555
Class B Common Stock [Member]
Entity Common Stock Shares Outstanding		31,938
Class C Common Stock [Member]
Entity Common Stock Shares Outstanding		31,938

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Mortgage Backed Securities At Fair Value [Abstract]
Pledged to counterparties	$ 211,118,462	$ 212,349,874
Unpledged	52,000	74,318
Total mortgage-backed securities	211,170,462	212,424,192
Cash and cash equivalents	5,883,398	4,947,801
Restricted cash	2,656,085	1,292,687
Orchid Island Capital, Inc. common stock, at fair value	9,667,429	9,713,030
Accrued interest receivable	750,193	780,535
Property and equipment, net	3,261,351	3,298,067
Deferred tax assets, net	22,603,791	23,202,821
Other assets	3,768,804	3,740,543
Total Assets	259,761,513	259,399,676
Liabilities
Outstanding repurchase obligations	200,656,000	200,396,000
Junior subordinated notes due to Bimini Capital Trust II	26,804,440	26,804,440
Accrued interest payable	818,485	678,262
Other Liabilities	1,412,628	2,566,353
Total Liabilities	229,691,553	230,445,055
Stockholders' Equity
Preferred stock	0	0
Common stock	12,773	12,773
Additional paid in capital	334,917,723	334,919,265
Accumulated deficit	(304,860,536)	(305,977,417)
Stockholders Equity	30,069,960	28,954,621
Total Liabilities and Stockholders' Equity	259,761,513	259,399,676
Class A Common Stock [Member]
Stockholders' Equity
Common stock	12,709	12,709
Class B Common Stock [Member]
Stockholders' Equity
Common stock	32	32
Class C Common Stock [Member]
Stockholders' Equity
Common stock	32	32
Residential Mortgage Backed Securities [Member]
Mortgage Backed Securities At Fair Value [Abstract]
Pledged to counterparties	211,118,462	212,349,874
Unpledged	52,000	74,318
Total mortgage-backed securities	$ 211,170,462	$ 212,424,192

CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Class of Stock [Line Items]
Preferred Stock Par Or Stated Value Per Share	$ 0.001	$ 0.001
Preferred Shares Authorized	10,000,000	10,000,000
Preferred Shares Issued	0	0
Preferred Shares Outstanding	0	0
Preferred Stock Value	$ 0	$ 0
Common Stock Par Or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock Value Outstanding	$ 12,773	$ 12,773
Class A Common Stock [Member]
Class of Stock [Line Items]
Common Stock Par Or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock Shares Authorized	98,000,000	98,000,000
Common Stock Shares Issued	12,708,555	12,709,269
Common Stock Shares Outstanding	12,708,555	12,709,269
Common Stock Value Outstanding	$ 12,709	$ 12,709
Class B Common Stock [Member]
Class of Stock [Line Items]
Common Stock Par Or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock Shares Authorized	1,000,000	1,000,000
Common Stock Shares Issued	31,938	31,938
Common Stock Shares Outstanding	31,938	31,938
Common Stock Value Outstanding	$ 32	$ 32
Class C Common Stock [Member]
Class of Stock [Line Items]
Common Stock Par Or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock Shares Authorized	1,000,000	1,000,000
Common Stock Shares Issued	31,938	31,938
Common Stock Shares Outstanding	31,938	31,938
Common Stock Value Outstanding	$ 32	$ 32
Preferred Undesignated [Member]
Class of Stock [Line Items]
Preferred Stock Par Or Stated Value Per Share	$ 0.001	$ 0.001
Preferred Shares Authorized	9,900,000	9,900,000
Preferred Shares Issued	0	0
Preferred Shares Outstanding	0	0
SeriesAPreferredStockMember
Class of Stock [Line Items]
Preferred Stock Par Or Stated Value Per Share	$ 0.001	$ 0.001
Preferred Shares Authorized	100,000	100,000
Preferred Shares Issued	0	0
Preferred Shares Outstanding	0	0

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenues
Advisory services	$ 1,653,796	$ 1,966,994	$ 3,261,116	$ 4,060,459
Interest income	2,133,677	2,000,510	4,324,093	4,080,776
Orchid Island Capital, Inc. dividends	364,809	410,410	729,617	881,621
Total revenues	4,152,282	4,377,914	8,314,826	9,022,856
Interest expense on repurchase agreements	1,340,029	937,288	2,652,893	1,746,554
Interest expense on junior subordinated notes	399,592	372,152	806,147	709,485
Net revenues	2,412,661	3,068,474	4,855,786	6,566,817
Other income:
Unrealized (losses) gains on mortgage-backed securities	2,224,016	(1,933,977)	5,276,251	(6,813,783)
Realized gains on mortgage-backed securities	0	(103,356)	0	(103,356)
Unrealized losses on Orchid Island Capital, Inc. common stock	(334,408)	228,005	(45,601)	(2,675,263)
(Losses) gains on derivative instruments	(3,364,345)	869,710	(5,621,756)	2,610,422
Gains on retained interests in securitizations	0	(169,167)	275,115	(251,831)
Other expense, net	248	308	494	915
Total other income	(1,474,489)	(1,108,477)	(115,497)	(7,232,896)
Expenses
Compensation and related benefits	1,016,844	1,036,076	2,087,625	2,102,531
Directors fees and liability insurance	160,666	160,612	321,308	321,225
Audit, legal and other professional fees	145,395	122,754	284,027	298,506
Administrative and other expenses	275,058	331,295	526,029	667,455
Total expenses	1,597,963	1,650,737	3,218,989	3,389,717
Net (loss) income before income tax provision (benefit)	(659,791)	309,260	1,521,300	(4,055,796)
Income tax provision (benefit)	(158,069)	86,980	404,419	(1,004,310)
Net (loss) income	$ (501,722)	$ 222,280	$ 1,116,881	$ (3,051,486)
Class A Common Stock [Member]
Basic and Diluted Net (Loss) Income Per Share of:
Basic	$ (0.04)	$ 0.02	$ 0.09	$ (0.24)
Diluted	$ (0.04)	$ 0.02	$ 0.09	$ (0.24)
Weighted Average Shares Outstanding
Weighted Average Shares - Basic and Diluted	12,708,555	12,770,265	12,708,587	12,729,666
Class B Common Stock [Member]
Basic and Diluted Net (Loss) Income Per Share of:
Basic	$ (0.04)	$ 0.02	$ 0.09	$ (0.24)
Diluted	$ (0.04)	$ 0.02	$ 0.09	$ (0.24)
Weighted Average Shares Outstanding
Weighted Average Shares - Basic and Diluted	31,938	31,938	31,938	31,938

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - USD ($)	Total	Class A Common Stock [Member]	Common Stock [Member]	Common Stock [Member] Class A Common Stock [Member]	Additional Paid In Capital [Member]	Additional Paid In Capital [Member] Class A Common Stock [Member]	Retained Earnings [Member]	Retained Earnings [Member] Class A Common Stock [Member]
Beginning Balances at Dec. 31, 2017	$ 55,692,248		$ 12,725		$ 334,878,779		$ (279,199,256)
Increase (Decrease) in Stockholders' Equity
Net income	(3,273,766)		0		0		(3,273,766)
Class A common shares sold directly to employees	199,997	$ 199,997	83	$ 83	199,914	$ 199,914	0	$ 0
Amortization of stock based compensation	2,869		0		2,869		0
Ending Balances at Mar. 31, 2018	52,621,348		12,808		335,081,562		(282,473,022)
Beginning Balances at Dec. 31, 2017	55,692,248		12,725		334,878,779		(279,199,256)
Increase (Decrease) in Stockholders' Equity
Net income	(3,051,486)
Ending Balances at Jun. 30, 2018	52,773,150		12,777		335,011,115		(282,250,742)
Beginning Balances at Mar. 31, 2018	52,621,348		12,808		335,081,562		(282,473,022)
Increase (Decrease) in Stockholders' Equity
Net income	222,280		0		0		222,280
Stock Repurchased And Retired During Period Value	(73,347)	(73,347)	(31)	(31)	(73,316)	(73,316)	0	0
Amortization of stock based compensation	2,869		0		2,869		0
Ending Balances at Jun. 30, 2018	52,773,150		12,777		335,011,115		(282,250,742)
Beginning Balances at Dec. 31, 2018	28,954,621		12,773		334,919,265		(305,977,417)
Increase (Decrease) in Stockholders' Equity
Net income	1,618,603		0		0		1,618,603
Stock Repurchased And Retired During Period Value	(1,542)	$ (1,542)	0	$ 0	(1,542)	$ (1,542)	0	$ 0
Ending Balances at Mar. 31, 2019	30,571,682		12,773		334,917,723		(304,358,814)
Beginning Balances at Dec. 31, 2018	28,954,621		12,773		334,919,265		(305,977,417)
Increase (Decrease) in Stockholders' Equity
Net income	1,116,881
Ending Balances at Jun. 30, 2019	30,069,960		12,773		334,917,723		(304,860,536)
Beginning Balances at Mar. 31, 2019	30,571,682		12,773		334,917,723		(304,358,814)
Increase (Decrease) in Stockholders' Equity
Net income	(501,722)		0		0		(501,722)
Ending Balances at Jun. 30, 2019	$ 30,069,960		$ 12,773		$ 334,917,723		$ (304,860,536)

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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+ Details

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss) income	$ 1,116,881	$ (3,051,486)
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:
Stock based compensation	0	5,738
Depreciation	36,716	38,901
Deferred income tax provision (benefit)	599,030	(809,502)
Losses (gains) on mortgage-backed securities	(5,276,251)	6,917,139
Gains on retained interests in securitizations	(275,115)	251,831
Unrealized losses on Orchid Island Capital, Inc. common stock	(45,601)	(2,675,263)
Realized and unrealized losses on TBA securities	(1,801,321)	(330,078)
Changes in operating assets and liabilities
Accrued interest receivable	30,342	75,909
Other assets	(28,261)	(237,926)
Accrued interest payable	140,223	(25,584)
Other liabilities	(395,183)	(146,735)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	(2,204,696)	6,023,626
From mortgage-backed securities investments
Purchases	(3,285,372)	(5,080,712)
Sales	0	9,089,456
Principal repayments	9,815,353	14,240,674
Payments received on retained interests in securitizations	0	401,549
Proceeds From Termination of Retained Interests	275,115	0
Purchases of property and equipment	0	(15,392)
Net setlement of forward settling TBA contracts	2,559,863	(13,672)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES	4,245,233	18,649,247
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from repurchase agreements	574,564,000	848,802,237
Principal payments on repurchase agreements	(574,304,000)	(873,562,509)
Payments For Repurchase Of Common Stock	1,542	73,347
Class A common shares sold directly to employees	0	199,997
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES	258,458	(24,633,622)
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	2,298,995	39,251
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period	6,240,488	8,752,860
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period	8,539,483	8,792,111
Cash paid during the period for:
Interest	3,318,817	2,481,623
Income Taxes	(46,700)	303,458
TBA Contracts [Member]
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:
Realized and unrealized losses on TBA securities	1,801,321	330,078
From mortgage-backed securities investments
Net setlement of forward settling TBA contracts	2,559,863	(13,672)
Class A Common Stock [Member]
CASH FLOWS FROM FINANCING ACTIVITIES
Payments For Repurchase Of Common Stock	1,542	73,347
Class A common shares sold directly to employees	$ 0	$ 199,997

ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES

6 Months Ended

Jun. 30, 2019

Accounting Policies [Abstract]

Organization and Significant Accounting Policies

NOTE 1. ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES

Business Description

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

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. Bimini Advisors also manages the MBS portfolio of Royal Palm Capital, LLC.

Royal Palm Capital, LLC maintains an investment portfolio, consisting primarily of MBS investments, for its own benefit. Royal Palm Capital, LLC and its wholly-owned subsidiaries are collectively referred to as "Royal Palm."

Consolidation

The accompanying consolidated financial statements include the accounts of Bimini Capital, Bimini Advisors and Royal Palm. All inter-company accounts and transactions have been eliminated from the consolidated financial statements.

Variable Interest Entities (“VIEs”)

Financial Accounting Standards Board (the "FASB") Accounting Standards Codification ("ASC") Topic 810, Consolidation, requires the consolidation of a variable interest entity ("VIE") by an enterprise if it is deemed the primary beneficiary of the VIE. Bimini Capital has a common share investment in a trust used in connection with the issuance of Bimini Capital's junior subordinated notes. See Note 8 for a description of the accounting used for this 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 for additional information regarding the Company’s investments in mortgage-backed securities. The maximum exposure to loss for these VIEs is the carrying value of the mortgage-backed securities.

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they may not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the six and three month periods ended June 30, 2019 are not necessarily indicative of the results that may be expected for the year ending December 31, 2019.

The consolidated balance sheet at December 31, 2018 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by GAAP for complete consolidated financial statements. For further information, refer to the financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018.

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 financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates affecting the accompanying consolidated financial statements include determining the fair values of MBS, investment in Orchid common shares, derivatives and retained interests, 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.

Statement of Comprehensive Income

In accordance with ASC Topic 220, Comprehensive Income, a statement of comprehensive income has not been included as the Company has no items of other comprehensive income (loss). Comprehensive income (loss) is the same as net income (loss) for all periods presented.

Segment Reporting

The Company’s operations are classified into two principal reportable segments: the asset management segment and the investment portfolio segment. These segments are evaluated by management in deciding how to allocate resources and in assessing performance. The accounting policies of the operating segments are the same as the Company’s accounting policies with the exception that inter-segment revenues and expenses are included in the presentation of segment results. For further information see Note 15.

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 derivative instruments. The following table presents the Company’s cash, cash equivalents and restricted cash as of June 30, 2019 and December 31, 2018.

(in thousands)
	June 30, 2019		December 31, 2018
Cash and cash equivalents	$	5,883,398	$	4,947,801
Restricted cash		2,656,085		1,292,687
Total cash, cash equivalents and restricted cash	$	8,539,483	$	6,240,488

The Company maintains cash balances at several banks and excess margin with an exchange clearing member. 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. At June 30, 2019, the Company’s cash deposits exceeded federally insured limits by approximately $4.5 million. The Company also maintains excess margin in accounts with derivative exchanges. 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

Orchid is externally managed and advised by Bimini Advisors pursuant to the terms of a management agreement. 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.

Mortgage-Backed Securities

The Company invests primarily in mortgage pass-through (“PT”) certificates, collateralized mortgage obligations (“CMOs”), and interest-only (“IO”) securities and inverse interest-only (“IIO”) securities representing interest in or obligations backed by pools of mortgage-backed loans. 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 our operations for a particular reporting period and is consistent with the underlying economics and how the portfolio is managed.

The Company records MBS transactions on the trade date. 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.

The fair value of the Company’s investment in MBS is governed by ASC Topic 820, Fair Value Measurement. The definition of fair value in ASC Topic 820 focuses on 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 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.

Orchid Island Capital, Inc. Common Stock

The Company has elected the fair value option for its investment in Orchid common shares. The change in the fair value of this investment and dividends received on this investment are reflected in the consolidated statements of operations. We estimate the fair value of our investment in Orchid on a market approach using “Level 1” inputs based on the quoted market price of Orchid’s common stock on a national stock exchange. Electing the fair value option requires the Company to record changes in fair value in the consolidated statements of operations, which, in management’s view, more appropriately reflects the results of our operations for a particular reporting period and is consistent with how the investment is managed.

Retained Interests in Securitizations

Retained interests in the subordinated tranches of securities created in securitization transactions were initially recorded at their fair value when issued by Royal Palm. These retained interests currently have a recorded fair value of zero, but may generate cash flows in the future. Any cash received from the retained interests are reflected in the consolidated statement of cash flows. Realized gains and subsequent adjustments to fair value are reflected in the consolidated statements of operations.

Derivative Financial Instruments

The Company uses 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 to date are Treasury Note (“T-Note”) and Eurodollar futures contracts, and “to-be-announced” (“TBA”) securities transactions, but it may enter into other derivatives in the future.

The Company accounts for TBA securities as derivative instruments if either the TBA securities do not settle in the shortest period of time possible or if the Company cannot assert that it is probable at inception of the TBA transaction, or throughout its term, that it will take physical delivery of the MBS for a long position, or make delivery of the MBS for a short position, upon settlement of the trade. Gains and losses associated with TBA securities transactions are reported in gain (loss) on derivative instruments in the accompanying consolidated statements of operations.

Derivative instruments are carried at fair value, and changes in fair value are recorded in the consolidated operations for each period. The Company’s derivative financial instruments are not designated as hedge accounting relationships, but rather are used as economic hedges of its portfolio assets and liabilities.

Holding derivatives creates exposure to credit risk related to the potential for failure by counterparties to honor their commitments. In addition, the Company may be required to post collateral based on any declines in the market value of the derivatives. 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. To mitigate this risk, the Company uses only well-established commercial banks as counterparties.

Financial Instruments

ASC Topic 825, Financial Instruments, requires disclosure of the fair value of financial instruments for which it is practicable to estimate that value, either in the body of the 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 of the consolidated financial statements.

The estimated fair value of cash and cash equivalents, restricted cash, accrued interest receivable, other assets, repurchase agreements, accrued interest payable and other liabilities generally approximates their carrying value as of June 30, 2019 and December 31, 2018, due to the short-term nature of these financial instruments.

It is impractical to estimate the fair value of the Company’s junior subordinated notes. Currently, there is a limited market for these types of instruments and the Company is unable to ascertain what interest rates would be available to the Company for similar financial instruments. Further Information regarding these instruments is presented in Note 8 to the consolidated financial statements.

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 using the straight-line method over the estimated useful lives of the assets.

Repurchase Agreements

The Company finances the acquisition of the majority of its PT MBS through the use of repurchase agreements under master repurchase agreements. Pursuant to ASC Topic 860, Transfers and Servicing, the Company accounts for repurchase transactions as collateralized financing transactions, which are carried at their contractual amounts, including accrued interest, as specified in the respective agreements.

Share-Based Compensation

The Company follows the provisions of ASC Topic 718, Compensation – Stock Compensation, to account for stock and stock-based awards. For stock and stock-based awards issued to employees, a compensation charge is recorded against earnings over the vesting period based on the fair value of the award. The Company applies a zero forfeiture rate for its equity based awards, as such awards have been granted to a limited number of employees and historical forfeitures have been minimal. A significant forfeiture, or an indication that significant forfeitures may occur, would result in a revised forfeiture rate which would be accounted for prospectively as a change in an estimate. For transactions with non-employees in which services are performed in exchange for the Company’s common stock or other equity instruments, the transactions are recorded on the basis of the fair value of the service received or the fair value of the equity instruments issued, whichever is more readily measurable at the date of the issuance of the common stock.

Earnings Per Share

The Company follows the provisions of ASC Topic 260, Earnings Per Share, which requires companies with complex capital structures, common stock equivalents or two (or more) classes of securities that participate in dividend distributions to present both basic and diluted earnings per share (“EPS”) on the face of the consolidated statement of operations. 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 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, 2015 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 Bimini Advisors are consolidated as a single tax paying entity. Royal Palm files as a separate tax paying entity.

The Company measures, recognizes and presents its uncertain tax positions in accordance with ASC Topic 740, Income Taxes. Under that guidance, the Company assesses the likelihood, based on their technical merit, that 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 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.

Recent Accounting Pronouncements

In June 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. ASU 2016-13 requires credit losses on most financial assets measured at amortized cost and certain other instruments to be measured using an expected credit loss model (referred to as the current expected credit loss (CECL) model). ASU 2016-13 is effective for fiscal years, and for interim periods within those years, beginning after December 15, 2019. Early application is permitted for fiscal periods beginning after December 15, 2018. The Company is currently evaluating the potential effect of this ASU on its consolidated financial statements.

ADVISORY SERVICES

6 Months Ended

Jun. 30, 2019

Advisory Services [Abstract]

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 1.5% of the first $250 million of Orchid’s month-end equity, as defined in the management agreement,
One-twelfth of 1.25% of Orchid’s month-end equity that is greater than $250 million and less than or equal to $500 million, and
One-twelfth of 1.00% of Orchid’s month-end equity that is greater than $500 million.

Orchid is obligated to reimburse Bimini Advisors for any direct expenses incurred 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. The management agreement has been renewed through February 20, 2020 and provides for automatic one-year extension options thereafter. Should Orchid terminate the management agreement without cause, it will be obligated to pay to 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 current automatic renewal term.

The following table summarizes the advisory services revenue from Orchid for the six and three months ended June 30, 2019 and 2018.

(in thousands)
	Six Months Ended June 30,				Three Months Ended June 30,
		2019		2018		2019		2018
Management fee	$	2,611	$	3,318	$	1,327	$	1,606
Allocated overhead		650		742		327		361
Total	$	3,261	$	4,060	$	1,654	$	1,967

At June 30, 2019 and December 31, 2018, the net amount due from Orchid was approximately $0.6 million and $0.7 million, respectively. These amounts are included in “other assets” in the consolidated balance sheets.

MORTGAGE-BACKED SECURITIES

6 Months Ended

Jun. 30, 2019

Mortgage Backed Securities [Abstract]

Mortgage-Backed Securities

NOTE 3. MORTGAGE-BACKED SECURITIES

The following table presents the Company’s MBS portfolio as of June 30, 2019 and December 31, 2018:

(in thousands)
	June 30, 2019		December 31, 2018
Fixed-rate MBS	$	209,080	$	209,675
Interest-Only MBS		1,472		2,021
Inverse Interest-Only MBS		618		728
Total	$	211,170	$	212,424

REPURCHASE AGREEMENTS

6 Months Ended

Jun. 30, 2019

Disclosure of Repurchase Agreements [Abstract]

Repurchase Agreements

NOTE 4. REPURCHASE AGREEMENTS

As of June 30, 2019, the Company had outstanding repurchase agreement obligations of approximately $200.7 million with a net weighted average borrowing rate of 2.63%. These agreements were collateralized by MBS with a fair value, including accrued interest, of approximately $211.9 million, and cash pledged to counterparties of approximately $1.9 million. As of December 31, 2018, the Company had outstanding repurchase agreement obligations of approximately $200.4 million with a net weighted average borrowing rate of 2.56%. These agreements were collateralized by MBS with a fair value, including accrued interest, of approximately $213.1 million, and cash pledged to counterparties of approximately $0.2 million.

As of June 30, 2019 and December 31, 2018, the Company’s repurchase agreements had remaining maturities as summarized below:

($ in thousands)
		OVERNIGHT		BETWEEN 2		BETWEEN 31			GREATER
		(1 DAY OR		AND		AND			THAN
		LESS)		30 DAYS		90 DAYS			90 DAYS		TOTAL
June 30, 2019
Fair value of securities pledged, including accrued
	interest receivable	$	1,692	$	89,115	$	116,520	$	4,540	$	211,867
Repurchase agreement liabilities associated with
	these securities	$	1,146	$	84,967	$	110,355	$	4,188	$	200,656
Net weighted average borrowing rate			2.94%		2.64%		2.62%		2.64%		2.63%
December 31, 2018
Fair value of securities pledged, including accrued
	interest receivable	$	-	$	107,876	$	105,251	$	-	$	213,127
Repurchase agreement liabilities associated with
	these securities	$	-	$	101,327	$	99,069	$	-	$	200,396
Net weighted average borrowing rate			-		2.56%		2.56%		-		2.56%

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 June 30, 2019 and December 31, 2018, 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 $12.4 million and $12.4 million, respectively. Summary information regarding amounts at risk with individual counterparties greater than 10% of equity at June 30, 2019 and December 31, 2018 is presented in the table below.

($ in thousands)
			% of	Weighted
			Stockholders'	Average
		Amount	Equity	Maturity
Repurchase Agreement Counterparties		at Risk	at Risk	(in Days)
June 30, 2019
ED&F Man Capital Markets Inc.	$	5,681	18.9%	29
Mirae Asset Securities (USA) Inc.		3,411	11.3%	51
December 31, 2018
ED&F Man Capital Markets Inc.	$	4,037	13.9%	17
Mirae Asset Securities (USA) Inc.		3,506	12.1%	40

DERIVATIVE FINANCIAL INSTRUMENTS

6 Months Ended

Jun. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

NOTE 5. DERIVATIVE FINANCIAL INSTRUMENTS

In connection with its interest rate risk management strategy, the Company economically hedges a portion of the cost of its repurchase agreement funding and junior subordinated notes by entering into derivatives and other hedging contracts. To date the Company has entered into Eurodollar and T-Note futures contracts, but may enter into other contracts in the future. The Company has not elected hedging treatment under GAAP, and as such all gains or losses (realized and unrealized) on these instruments are reflected in earnings for all periods presented.

In addition, the Company utilizes TBA securities as a means of investing in and financing MBS or as a means of reducing its exposure to MBS. The Company accounts for TBA securities as derivative instruments.

Derivative Liabilities, at Fair Value

The table below summarizes fair value information about our derivative liabilities as of June 30, 2019 and December 31, 2018.

(in thousands)
Derivative Instruments and Related Accounts	Balance Sheet Location	June 30, 2019		December 31, 2018
Liabilities
TBA Securities	Other liabilities	$	179	$	938
Total derivative liabilities, at fair value		$	179	$	938

Margin Balances Posted to Counterparties
Futures contracts	Restricted cash	$	685	$	520
TBA securities	Restricted cash		66		543
Total margin balances on derivative contracts		$	751	$	1,063

Eurodollar and T-Note futures are cash settled futures contracts on an interest rate, with gains and losses credited or charged to the Company’s cash accounts on a daily basis. A minimum balance, or “margin”, is required to be maintained in the account on a daily basis. The tables below present information related to the Company’s Eurodollar and T-note futures positions at June 30, 2019 and December 31, 2018.

($ in thousands)
As of June 30, 2019
			Repurchase Agreement Funding Hedges
			Average	Weighted	Weighted
			Contract	Average	Average
			Notional	Entry	Effective		Open
Expiration Year			Amount	Rate	Rate		Equity⁽¹⁾
Eurodollar Futures Contracts (Short Positions)
2019		$	150,000	2.71%	1.96%	$	(568)
2020			150,000	2.84%	1.61%		(1,849)
2021			100,000	2.80%	1.57%		(1,231)
Total / Weighted Average		$	130,000	2.80%	1.68%	$	(3,648)

Treasury Note Futures Contracts (Short Position)⁽²⁾
September 2019 5-year T-Note futures
	(Sep 2019 - Sep 2024 Hedge Period)	$	25,000	2.60%	2.15%	$	(581)

($ in thousands)
As of June 30, 2019
	Junior Subordinated Debt Funding Hedges
		Average	Weighted	Weighted
		Contract	Average	Average
		Notional	Entry	Effective		Open
Expiration Year		Amount	Rate	Rate		Equity⁽¹⁾
2019	$	26,000	1.72%	1.96%	$	31
2020		19,500	1.92%	1.63%		(57)
Total / Weighted Average	$	21,667	1.84%	1.76%	$	(26)

($ in thousands)
As of December 31, 2018
		Repurchase Agreement Funding Hedges
		Average	Weighted	Weighted
		Contract	Average	Average
		Notional	Entry	Effective		Open
Expiration Year		Amount	Rate	Rate		Equity⁽¹⁾
2019	$	125,000	2.56%	2.67%	$	139
2020		150,000	2.84%	2.49%		(523)
2021		100,000	2.80%	2.46%		(346)
Total / Weighted Average	$	125,000	2.74%	2.54%	$	(730)

($ in thousands)
As of December 31, 2018
	Junior Subordinated Debt Funding Hedges
		Average	Weighted	Weighted
		Contract	Average	Average
		Notional	Entry	Effective		Open
Expiration Year		Amount	Rate	Rate		Equity⁽¹⁾
2019	$	26,000	1.63%	2.68%	$	271
2020		26,000	1.95%	2.49%		142
2021		26,000	2.22%	2.46%		61
Total / Weighted Average	$	26,000	1.93%	2.54%	$	474

The following table summarizes our contracts to purchase and sell TBA securities as of June 30, 2019 and December 31, 2018.

($ in thousands)
			Notional						Net
			Amount		Cost		Market		Carrying
			Long (Short)⁽¹⁾		Basis⁽²⁾		Value⁽³⁾		Value⁽⁴⁾
June 30, 2019
30-Year TBA Securities:
	3.5%	$	(65,000)	$	(66,280)	$	(66,459)	$	(179)
December 31, 2018
30-Year TBA Securities:
	3.0%	$	(50,000)	$	(47,844)	$	(48,782)	$	(938)

Notional amount represents the par value (or principal balance) of the underlying Agency MBS.
Cost basis represents the forward price to be paid (received) for the underlying Agency MBS.
Market value represents the current market value of the TBA securities (or of the underlying Agency MBS) as of period-end.
Net carrying value represents the difference between the market value and the cost basis of the TBA securities as of period-end and is reported in derivative assets (liabilities), at fair value in our consolidated balance sheets.

(Losses) Gains On Derivative Instruments

The table below presents the effect of the Company’s derivative financial instruments on the consolidated statements of operations for the six and three months ended June 30, 2019 and 2018

(in thousands)
		Six Months Ended June 30,				Three Months Ended June 30,
			2019		2018		2019		2018
Eurodollar futures contracts (short positions)
	Repurchase agreement funding hedges	$	(2,831)	$	1,624	$	(1,860)	$	534
	Junior subordinated debt funding hedges		(409)		557		(189)		142
T-Note futures contracts (short positions)
	Repurchase agreement funding hedges		(581)		759		(581)		-
Net TBA securities			(1,801)		(330)		(734)		194
(Losses) gains on derivative instruments		$	(5,622)	$	2,610	$	(3,364)	$	870

Credit Risk-Related Contingent Features

The use of derivatives creates exposure to credit risk relating to potential losses that could be recognized in the event that the counterparties to these instruments fail to perform their obligations under the contracts. The Company attempts to minimize this risk in several ways. For instruments which are not centrally cleared on a registered exchange, the Company limits its counterparties to major financial institutions with acceptable credit ratings, and by monitoring positions with individual counterparties. In addition, the Company may be required to pledge assets as collateral for its derivatives, whose amounts vary over time based on the market value, notional amount and remaining term of the derivative contract. In the event of a default by a counterparty, the Company may not receive payments provided for under the terms of its derivative agreements, and may have difficulty recovering its assets pledged as collateral for its derivatives. The cash and cash equivalents pledged as collateral for the Company’s derivative instruments are included in restricted cash on the consolidated balance sheets.

^[1]

[1]	Open equity represents the cumulative gains (losses) recorded on open futures positions from inception.

PLEDGED ASSETS

6 Months Ended

Jun. 30, 2019

Financial Instruments Pledged as Collateral [Abstract]

Pledged Assets [Text Block]

NOTE 6. 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 June 30, 2019 and December 31, 2018.

($ in thousands)
	June 30, 2019						December 31, 2018
		Repurchase		Derivative				Repurchase		Derivative
Assets Pledged to Counterparties		Agreements		Agreements		Total		Agreements		Agreements		Total
PT MBS - at fair value	$	209,078	$	-	$	209,078	$	209,675	$	-	$	209,675
Structured MBS - at fair value		2,040		-		2,040		2,675		-		2,675
Accrued interest on pledged securities		748		-		748		777		-		777
Restricted cash		1,905		751		2,656		230		1,063		1,293
Total	$	213,771	$	751	$	214,522	$	213,357	$	1,063	$	214,420

Assets Pledged from Counterparties

The table below summarizes assets pledged to Bimini from counterparties under repurchase agreements as of June 30, 2019 and December 31, 2018. Cash received as margin is recognized in cash and cash equivalents with a corresponding amount recognized as an increase in other liabilities in the consolidated balance sheets.

($ in thousands)
Assets Pledged to Bimini		June 30, 2019		December 31, 2018
Cash	$	21	$	371
Total	$	21	$	371

OFFSETTING ASSETS AND LIABILITIES

6 Months Ended

Jun. 30, 2019

Offsetting [Abstract]

Offsetting Assets And Liabilities [Text Block]

NOTE 7. OFFSETTING ASSETS AND LIABILITIES

The Company’s derivatives and repurchase agreements are subject to underlying agreements with master netting or similar arrangements, which provide for the right of offset in the event of default or in the event of bankruptcy of either party to the transactions. The Company reports its assets and liabilities subject to these arrangements on a gross basis. The following tables present information regarding those assets and liabilities subject to such arrangements as if the Company had presented them on a net basis as of June 30, 2019 and December 31, 2018.

(in thousands)
Offsetting of Liabilities
							Gross Amount Not Offset in the
					Net Amount		Consolidated Balance Sheet
			Gross Amount		of Liabilities		Financial
	Gross Amount		Offset in the		Presented in the		Instruments		Cash
	of Recognized		Consolidated		Consolidated		Posted as		Posted as		Net
	Liabilities		Balance Sheet		Balance Sheet		Collateral		Collateral		Amount
June 30, 2019
Repurchase Agreements	$	200,656	$	-	$	200,656	$	(198,751)	$	(1,905)	$	-
TBA securities		179		-		179		-		(66)		113
	$	200,835	$	-	$	200,835	$	(198,751)	$	(1,971)	$	113
December 31, 2018
Repurchase Agreements	$	200,396	$	-	$	200,396	$	(200,166)	$	(230)	$	-
TBA securities		938		-		938		-		(543)		395
	$	201,334	$	-	$	201,334	$	(200,166)	$	(773)	$	395

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 in accordance with ASC 210-20-50. The fair value of the actual collateral received by or posted to the same counterparty typically exceeds the amounts presented. See Note 6 for a discussion of collateral posted for, or received against, repurchase obligations and derivative instruments.

TRUST PREFERRED SECURITIES	6 Months Ended
TRUST PREFERRED SECURITIES	Jun. 30, 2019
Trust Preferred Securities [Abstract]
Trust Preferred Securities	NOTE 8. TRUST PREFERRED SECURITIES 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 June 30, 2019 and December 31, 2018, the outstanding principal balance on the junior subordinated debt securities owed to BCTII was $26.8 million. The BCTII trust preferred securities and Bimini Capital's BCTII Junior Subordinated Notes have a rate of interest that floats at a spread of 3.50% over the prevailing three-month LIBOR rate. As of June 30, 2019, the interest rate was 5.91%. 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. BCTII is a VIE because the holders of the equity investment at risk do not have substantive decision making ability over BCTII’s activities. Since Bimini Capital's investment in BCTII’s common equity securities was financed directly by BCTII as a result of its loan of the proceeds to Bimini Capital, that investment is not considered to be an equity investment at risk. Since Bimini Capital's common share investment in BCTII is not a variable interest, Bimini Capital is not the primary beneficiary of BCTII. Therefore, Bimini Capital has not consolidated the financial statements of BCTII into its consolidated financial statements, and this investment is accounted for on the equity method. The accompanying 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.

CAPITAL STOCK

6 Months Ended

Jun. 30, 2019

Capital Stock [Abstract]

Capital Stock

NOTE 9. COMMON STOCK

The table below presents information related to Bimini Capital’s Class A Common Stock issued during the six and three months ended June 30, 2019 and 2018.

	Six Months Ended June 30,		Three Months Ended June 30,
Shares Issued Related To:	2019	2018	2019	2018
Shares sold directly to employees	-	83,332	-	-
Total shares of Class A Common Stock issued	-	83,332	-	-

There were no issuances of Bimini Capital's Class B Common Stock and Class C Common Stock during the six months ended June 30, 2019 and 2018.

Stock Repurchase Plan

On March 26, 2018, the Board of Directors of Bimini Capital Management, Inc. (the “Company”) approved a Stock Repurchase Plan (“Repurchase Plan”). Pursuant to Repurchase Plan, the Company may purchase up to 500,000 shares of its Class A Common Stock from time to time, subject to certain limitations imposed by Rule 10b-18 of the Securities Exchange Act of 1934. Share repurchases may be executed through various means, including, without limitation, open market transactions. The Repurchase Plan does not obligate the Company to purchase any shares. The Repurchase Plan was originally set to expire on November 15, 2018, but it was extended by the Board of Directors until November 15, 2019. The authorization for the Share Repurchase Plan may be terminated, increased or decreased by the Company’s Board of Directors in its discretion at any time.

From the inception of the Repurchase Plan through June 30, 2019, the Company repurchased a total of 70,404 shares at an aggregate cost of approximately $166,945, including commissions and fees, for a weighted average price of $2.37 per share.

Tender Offer

In July 2019, the Company completed a “modified Dutch auction” tender offer and paid an aggregate of $2.2 million, excluding fees and related expenses, to repurchase 1.1 million shares of Bimini Capital’s Class A common stock, which were retired, at a price of $2.00 per share.

STOCK INCENTIVE PLANS

6 Months Ended

Jun. 30, 2019

Employee Benefits And Share Based Compensation [Abstract]

Stock incentive Plans

NOTE 10. STOCK INCENTIVE PLANS

On August 12, 2011, Bimini Capital’s shareholders approved the 2011 Long Term Compensation Plan (the “2011 Plan”) to assist the Company in recruiting and retaining employees, directors and other service providers by enabling them to participate in the success of Bimini Capital and to associate their interests with those of the Company and its stockholders. The 2011 Plan is intended to permit the grant of stock options, stock appreciation rights (“SARs”), stock awards, performance units and other equity-based and incentive awards. The maximum aggregate number of shares of common stock that may be issued under the 2011 Plan pursuant to the exercise of options and SARs, the grant of stock awards or other equity-based awards and the settlement of incentive awards and performance units is equal to 4,000,000 shares.

Performance Units

The Compensation Committee of the Board of Directors of Bimini Capital (the "Committee") has issued, and may in the future issue additional, Performance Units under the 2011 Plan to certain officers and employees. “Performance Units” represent the participant’s right to receive an amount, based on the value of a specified number of shares of common stock, if the terms and conditions prescribed by the Committee are satisfied. The Committee will determine the requirements that must be satisfied before Performance Units are earned, including but not limited to any applicable performance period and performance goals. Performance goals may relate to the Company’s financial performance or the participant’s performance or such other criteria determined by the Committee, including goals stated with reference to the performance measures discussed below. If Performance Units are earned, they will be settled in cash, shares of common stock or a combination thereof.

The following table presents the activity related to Performance Units during the six months ended June 30, 2019 and 2018:

($ in thousands, except per share data)
	Six Months Ended June 30,
	2019				2018
			Weighted				Weighted
			Average				Average
			Grant Date				Grant Date
			Fair Value				Fair Value
	Shares		Per Share	Shares			Per Share
Unvested, beginning of period	-	$	-		41,000	$	0.84
Granted	-		-		-		-
Vested and issued	-		-		-		-
Unvested, end of period	-	$	-		41,000	$	0.84

Compensation expense during the period		$	-			$	6
Unrecognized compensation expense at period end		$	-			$	5
Weighted-average remaining vesting term (in years)			-				0.5
Intrinsic value of unvested shares at period end		$	-			$	97

COMMITMENTS AND CONTINGENCIES	6 Months Ended
COMMITMENTS AND CONTINGENCIES	Jun. 30, 2019
Commitments And Contingencies Disclosure [Abstract]
Commitments And Contingencies	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. Management is not aware of any significant reported or unreported contingencies at June 30, 2019.

INCOME TAXES	6 Months Ended
INCOME TAXES	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 12. INCOME TAXES The total income tax provision (benefit) recorded for the six months ended June 30, 2019 and 2018 was $0.4 million and $(1.0) million, respectively, on consolidated pre-tax book income (loss) of $1.5 million and $(4.1) million in the six months ended June 30, 2019 and 2018, respectively. The total income tax provision (benefit) recorded for the three months ended June 30, 2019 and 2018 was $(0.2) million and $0.1 million, respectively, on consolidated pre-tax book income (loss) of $(0.7) million and $0.3 million in the three months ended June 30, 2019 and 2018, respectively. The Company’s tax provision is based on a projected effective rate based on annualized amounts applied to actual income to date and includes the expected realization of a portion of the tax benefits of federal and state net operating losses carryforwards (“NOLs”). In assessing the realizability of deferred tax assets, management considers whether it is more likely than not 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. The Company currently provides a valuation allowance against a portion of the NOLs since the Company believes that it is more likely than not that some of the benefits will not be realized in the future. The Company will continue to assess the need for a valuation allowance at each reporting date.

EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2019

Earnings Per Share [Abstract]

Earnings Per Share (EPS)

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. Following the provisions of FASB ASC 260, 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 June 30, 2019 and 2018.

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 June 30, 2019 and 2018.

The Company has dividend eligible stock incentive plan shares that were outstanding during the six and three months ended June 30, 2018. The basic and diluted per share computations include these unvested incentive plan shares if there is income available to Class A common stock, as they have dividend participation rights. The stock incentive plan shares have no contractual obligation to share in losses. Because there is no such obligation, the incentive plan shares are not included in the basic and diluted EPS computations when no income is available to Class A common stock even though they are considered participating securities.

The table below reconciles the numerator and denominator of EPS for the six and three months ended June 30, 2019 and 2018.

(in thousands, except per-share information)
			Six Months Ended June 30,				Three Months Ended June 30,
				2019		2018		2019		2018
Basic and diluted EPS per Class A common share:
Income (loss) attributable to Class A common shares:
	Basic and diluted		$	1,114	$	(3,043)	$	(501)	$	221
Weighted average common shares:
	Class A common shares outstanding at the balance sheet date			12,709		12,713		12,709		12,713
	Unvested dividend-eligible stock incentive plan shares
		outstanding at the balance sheet date		-		-		-		41
	Effect of weighting			-		17		-		16
Weighted average shares-basic and diluted				12,709		12,730		12,709		12,770
Income (loss) per Class A common share:
	Basic and diluted		$	0.09	$	(0.24)	$	(0.04)	$	0.02

(in thousands, except per-share information)
		Six Months Ended June 30,				Three Months Ended June 30,
			2019		2018		2019		2018
Basic and diluted EPS per Class B common share:
Income (loss) attributable to Class B common shares:
	Basic and diluted	$	3	$	(8)	$	(1)	$	1
Weighted average common shares:
	Class B common shares outstanding at the balance sheet date		32		32		32		32
Weighted average shares-basic and diluted			32		32		32		32
Income (loss) per Class B common share:
	Basic and diluted	$	0.09	$	(0.24)	$	(0.04)	$	0.02

FAIR VALUE

6 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

Fair Value

NOTE 14. FAIR VALUE

Authoritative accounting literature establishes a framework for using fair value to measure assets and liabilities and defines fair value as 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.

MBS, Orchid common stock, retained interests and TBA securities were all recorded at fair value on a recurring basis during the six and three months ended June 30, 2019 and 2018. 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. Fair value measurements for the retained interests are generated by a model that requires management to make a significant number of assumptions, and this model resulted in a value of zero at both June 30, 2019 and December 31, 2018.

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, when available. 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, spread pricing techniques (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 following table presents financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2019 and December 31, 2018:

(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)
June 30, 2019
Mortgage-backed securities	$	211,170	$	-	$	211,170	$	-
Orchid Island Capital, Inc. common stock		9,667		9,667		-		-
TBA securities		(179)		-		(179)		-
December 31, 2018
Mortgage-backed securities	$	212,424	$	-	$	212,424	$	-
Orchid Island Capital, Inc. common stock		9,713		9,713		-		-
TBA securities		(938)		-		(938)		-

The following table illustrates a roll forward for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the six months ended June 30, 2019 and 2018:

(in thousands)
		Retained Interests in Securitizations
		Six Months Ended June 30,
		2019		2018
Balances, January 1	$	-	$	653
Gain (loss) included in earnings		275		(252)
Collections		(275)		(401)
Balances, June 30	$	-	$	-

During the six months ended June 30, 2019 and 2018, 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

SEGMENT INFORMATION

6 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

NOTE 15. SEGMENT INFORMATION

The Company’s operations are classified into two principal reportable segments: the asset management segment and the investment portfolio segment.

The asset management segment includes the investment advisory services provided by Bimini Advisors to Orchid and Royal Palm. As discussed in Note 2, the revenues of the asset management segment consist of management fees and overhead reimbursements received pursuant to a management agreement with Orchid. Total revenues received under this management agreement for the six months ended June 30, 2019 and 2018, were approximately $3.3 million and $4.1 million, respectively, accounting for approximately 39% and 45% 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 six months ended June 30, 2019 and 2018 is as follows:

(in thousands)
	Asset		Investment
	Management		Portfolio		Corporate		Eliminations		Total
2019
Advisory services, external customers	$	3,261	$	-	$	-	$	-	$	3,261
Advisory services, other operating segments⁽¹⁾		137		-		-		(137)		-
Interest and dividend income		-		5,053		1		-		5,054
Interest expense		-		(2,653)		(806)⁽²⁾		-		(3,459)
Net revenues		3,398		2,400		(805)		(137)		4,856
Other		-		18		(134)⁽³⁾		-		(116)
Operating expenses⁽⁴⁾		(1,272)		(1,947)		-		-		(3,219)
Intercompany expenses⁽¹⁾		-		(137)		-		137		-
Income (loss) before income taxes	$	2,126	$	334	$	(939)	$	-	$	1,521

	Asset		Investment
	Management		Portfolio		Corporate		Eliminations		Total
2018
Advisory services, external customers	$	4,060	$	-	$	-	$	-	$	4,060
Advisory services, other operating segments⁽¹⁾		120		-		-		(120)		-
Interest and dividend income		-		4,962		-		-		4,962
Interest expense		-		(1,746)		(709)⁽²⁾		-		(2,455)
Net revenues		4,180		3,216		(709)		(120)		6,567
Other		-		(7,539)		306 ⁽³⁾		-		(7,233)
Operating expenses⁽⁴⁾		(1,498)		(1,892)		-		-		(3,390)
Intercompany expenses⁽¹⁾		-		(120)		-		120		-
Income (loss) before income taxes	$	2,682	$	(6,335)	$	(403)	$	-	$	(4,056)

Assets in each reportable segment as of June 30, 2019 and December 31, 2018 were as follows:

(in thousands)
	Asset		Investment
	Management		Portfolio		Corporate		Total
June 30, 2019	$	1,476	$	245,693	$	12,593	$	259,762
December 31, 2018		1,488		245,866		12,046		259,400

RELATED PARTY TRANSACTIONS	6 Months Ended
RELATED PARTY TRANSACTIONS	Jun. 30, 2019
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 16. RELATED PARTY TRANSACTIONS Relationships with Orchid At both June 30, 2019 and December 31, 2018, the Company owned 1,520,036 shares of Orchid common stock, representing approximately 2.8% and 3.1% of Orchid’s outstanding common stock on such dates. The Company received dividends on this common stock investment of approximately $0.7 million and $0.4 million during the six and three months ended June 30, 2019, respectively, and approximately $0.9 million and $0.4 million during the six and three months ended June 30, 2018, respectively. Robert Cauley, the Chief Executive Officer and Chairman of the Board of Directors of the Company, also serves as Chief Executive Officer and Chairman of the Board of Directors of Orchid, receives compensation from Orchid, and owns shares of common stock of Orchid. In addition, Hunter Haas, the Chief Financial Officer, Chief Investment Officer and Treasurer of the Company, also serves as Chief Financial Officer, Chief Investment Officer and Secretary of Orchid, is a member of Orchid’s Board of Directors, receives compensation from Orchid, and owns shares of common stock of Orchid. Robert J. Dwyer and Frank E. Jaumot, our independent directors, each own shares of common stock of Orchid.

BASIS OF PRESENTATION (Policies)

6 Months Ended

Jun. 30, 2019

Accounting Policies [Abstract]

Consolidation

Variable Interest Entity [Policy Text Block]

Variable Interest Entities (“VIEs”)

Basis of Presentation

Use of Estimates

Statement of Comprehensive Income

Segment Reporting Policy [Policy Text Block]

Segment Reporting

Cash and Cash Equivalents and Restricted Cash

(in thousands)
	June 30, 2019		December 31, 2018
Cash and cash equivalents	$	5,883,398	$	4,947,801
Restricted cash		2,656,085		1,292,687
Total cash, cash equivalents and restricted cash	$	8,539,483	$	6,240,488

Advisory Services [Policy Tex Block]

Advisory Services

Mortgage-Backed Securities

Investment In Related Party [Policy Text Block]

Orchid Island Capital, Inc. Common Stock

Retained Interests

Retained Interests in Securitizations

Derivative Financial Instruments

Financial Instruments

Property and Equipment, net

Repurchase Agreements

Share-Based Compensation

Earnings Per Share

Income Taxes

Recent Accounting Pronouncements

CASH AND CASH EQUIVALENTS (Tables)

6 Months Ended

Jun. 30, 2019

Accounting Policies [Abstract]

Schedule of reconciliation of cash, cash equivalents and restricted cash

The following table presents the Company’s cash, cash equivalents and restricted cash as of June 30, 2019 and December 31, 2018.

(in thousands)
	June 30, 2019		December 31, 2018
Cash and cash equivalents	$	5,883,398	$	4,947,801
Restricted cash		2,656,085		1,292,687
Total cash, cash equivalents and restricted cash	$	8,539,483	$	6,240,488

ADVISORY SERVICES (Tables)

6 Months Ended

Jun. 30, 2019

Advisory Services [Abstract]

Schedule of Advisory Fee Income [Table Text Block]

The following table summarizes the advisory services revenue from Orchid for the six and three months ended June 30, 2019 and 2018.

(in thousands)
	Six Months Ended June 30,				Three Months Ended June 30,
		2019		2018		2019		2018
Management fee	$	2,611	$	3,318	$	1,327	$	1,606
Allocated overhead		650		742		327		361
Total	$	3,261	$	4,060	$	1,654	$	1,967

MORTGAGE-BACKED SECURITIES (Tables)

6 Months Ended

Jun. 30, 2019

Residential Mortgage Backed Securities [Member]

Mortgage Backed Securities [Line Items]

Schedule of Mortgage-Backed Securities Reconciliation

The following table presents the Company’s MBS portfolio as of June 30, 2019 and December 31, 2018:

(in thousands)
	June 30, 2019		December 31, 2018
Fixed-rate MBS	$	209,080	$	209,675
Interest-Only MBS		1,472		2,021
Inverse Interest-Only MBS		618		728
Total	$	211,170	$	212,424

REPURCHASE AGREEMENTS (Tables)

6 Months Ended

Jun. 30, 2019

Disclosure of Repurchase Agreements [Abstract]

Schedule of Repurchase Agreements [Table Text Block]

As of June 30, 2019 and December 31, 2018, the Company’s repurchase agreements had remaining maturities as summarized below:

($ in thousands)
		OVERNIGHT		BETWEEN 2		BETWEEN 31			GREATER
		(1 DAY OR		AND		AND			THAN
		LESS)		30 DAYS		90 DAYS			90 DAYS		TOTAL
June 30, 2019
Fair value of securities pledged, including accrued
	interest receivable	$	1,692	$	89,115	$	116,520	$	4,540	$	211,867
Repurchase agreement liabilities associated with
	these securities	$	1,146	$	84,967	$	110,355	$	4,188	$	200,656
Net weighted average borrowing rate			2.94%		2.64%		2.62%		2.64%		2.63%
December 31, 2018
Fair value of securities pledged, including accrued
	interest receivable	$	-	$	107,876	$	105,251	$	-	$	213,127
Repurchase agreement liabilities associated with
	these securities	$	-	$	101,327	$	99,069	$	-	$	200,396
Net weighted average borrowing rate			-		2.56%		2.56%		-		2.56%

ScheduleOfRepurchaseAgreementCounterpartiesWithWhomRepurchaseAgreementsExceed10PercentOfStockholdersEquityTextBlock

Summary information regarding amounts at risk with individual counterparties greater than 10% of equity at June 30, 2019 and December 31, 2018 is presented in the table below.

($ in thousands)
			% of	Weighted
			Stockholders'	Average
		Amount	Equity	Maturity
Repurchase Agreement Counterparties		at Risk	at Risk	(in Days)
June 30, 2019
ED&F Man Capital Markets Inc.	$	5,681	18.9%	29
Mirae Asset Securities (USA) Inc.		3,411	11.3%	51
December 31, 2018
ED&F Man Capital Markets Inc.	$	4,037	13.9%	17
Mirae Asset Securities (USA) Inc.		3,506	12.1%	40

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock

Derivative Liabilities, at Fair Value

The table below summarizes fair value information about our derivative liabilities as of June 30, 2019 and December 31, 2018.

(in thousands)
Derivative Instruments and Related Accounts	Balance Sheet Location	June 30, 2019		December 31, 2018
Liabilities
TBA Securities	Other liabilities	$	179	$	938
Total derivative liabilities, at fair value		$	179	$	938

Margin Balances Posted to Counterparties
Futures contracts	Restricted cash	$	685	$	520
TBA securities	Restricted cash		66		543
Total margin balances on derivative contracts		$	751	$	1,063

Schedule of Eurodollar Futures Positions

($ in thousands)
As of June 30, 2019
			Repurchase Agreement Funding Hedges
			Average	Weighted	Weighted
			Contract	Average	Average
			Notional	Entry	Effective		Open
Expiration Year			Amount	Rate	Rate		Equity⁽¹⁾
Eurodollar Futures Contracts (Short Positions)
2019		$	150,000	2.71%	1.96%	$	(568)
2020			150,000	2.84%	1.61%		(1,849)
2021			100,000	2.80%	1.57%		(1,231)
Total / Weighted Average		$	130,000	2.80%	1.68%	$	(3,648)

Treasury Note Futures Contracts (Short Position)⁽²⁾
September 2019 5-year T-Note futures
	(Sep 2019 - Sep 2024 Hedge Period)	$	25,000	2.60%	2.15%	$	(581)

($ in thousands)
As of June 30, 2019
	Junior Subordinated Debt Funding Hedges
		Average	Weighted	Weighted
		Contract	Average	Average
		Notional	Entry	Effective		Open
Expiration Year		Amount	Rate	Rate		Equity⁽¹⁾
2019	$	26,000	1.72%	1.96%	$	31
2020		19,500	1.92%	1.63%		(57)
Total / Weighted Average	$	21,667	1.84%	1.76%	$	(26)

($ in thousands)
As of December 31, 2018
		Repurchase Agreement Funding Hedges
		Average	Weighted	Weighted
		Contract	Average	Average
		Notional	Entry	Effective		Open
Expiration Year		Amount	Rate	Rate		Equity⁽¹⁾
2019	$	125,000	2.56%	2.67%	$	139
2020		150,000	2.84%	2.49%		(523)
2021		100,000	2.80%	2.46%		(346)
Total / Weighted Average	$	125,000	2.74%	2.54%	$	(730)

($ in thousands)
As of December 31, 2018
	Junior Subordinated Debt Funding Hedges
		Average	Weighted	Weighted
		Contract	Average	Average
		Notional	Entry	Effective		Open
Expiration Year		Amount	Rate	Rate		Equity⁽¹⁾
2019	$	26,000	1.63%	2.68%	$	271
2020		26,000	1.95%	2.49%		142
2021		26,000	2.22%	2.46%		61
Total / Weighted Average	$	26,000	1.93%	2.54%	$	474

^[1]

Schedule of To Be Announced Securities Table Tex tBlock

The following table summarizes our contracts to purchase and sell TBA securities as of June 30, 2019 and December 31, 2018.

($ in thousands)
			Notional						Net
			Amount		Cost		Market		Carrying
			Long (Short)⁽¹⁾		Basis⁽²⁾		Value⁽³⁾		Value⁽⁴⁾
June 30, 2019
30-Year TBA Securities:
	3.5%	$	(65,000)	$	(66,280)	$	(66,459)	$	(179)
December 31, 2018
30-Year TBA Securities:
	3.0%	$	(50,000)	$	(47,844)	$	(48,782)	$	(938)

Schedule of the effect of the Company's deriviative financial instruments on the consolidated statement of operations

The table below presents the effect of the Company’s derivative financial instruments on the consolidated statements of operations for the six and three months ended June 30, 2019 and 2018.

(in thousands)
		Six Months Ended June 30,				Three Months Ended June 30,
			2019		2018		2019		2018
Eurodollar futures contracts (short positions)
	Repurchase agreement funding hedges	$	(2,831)	$	1,624	$	(1,860)	$	534
	Junior subordinated debt funding hedges		(409)		557		(189)		142
T-Note futures contracts (short positions)
	Repurchase agreement funding hedges		(581)		759		(581)		-
Net TBA securities			(1,801)		(330)		(734)		194
(Losses) gains on derivative instruments		$	(5,622)	$	2,610	$	(3,364)	$	870

[1]	Open equity represents the cumulative gains (losses) recorded on open futures positions from inception.

PLEDGED ASSETS (Tables)

6 Months Ended

Jun. 30, 2019

Financial Instruments Pledged as Collateral [Abstract]

Schedule of assets pledged as collateral under our repurchase agreements, prime brokerage clearing accounts, derivative agreements and insurance capital by type, including securities pledged related to securities sold but not yet settled

The table below summarizes Bimini’s assets pledged as collateral under its repurchase agreements and derivative agreements as of June 30, 2019 and December 31, 2018.

($ in thousands)
	June 30, 2019						December 31, 2018
		Repurchase		Derivative				Repurchase		Derivative
Assets Pledged to Counterparties		Agreements		Agreements		Total		Agreements		Agreements		Total
PT MBS - at fair value	$	209,078	$	-	$	209,078	$	209,675	$	-	$	209,675
Structured MBS - at fair value		2,040		-		2,040		2,675		-		2,675
Accrued interest on pledged securities		748		-		748		777		-		777
Restricted cash		1,905		751		2,656		230		1,063		1,293
Total	$	213,771	$	751	$	214,522	$	213,357	$	1,063	$	214,420

Schedule of assets pledged to us from counterparties under our repurchase agreements.

($ in thousands)
Assets Pledged to Bimini		June 30, 2019		December 31, 2018
Cash	$	21	$	371
Total	$	21	$	371

OFFSETTING ASSETS AND LIABILITIES (Tables)

6 Months Ended

Jun. 30, 2019

Offsetting [Abstract]

Offsetting of Liabilties [Table Text Block]

(in thousands)
Offsetting of Liabilities
							Gross Amount Not Offset in the
					Net Amount		Consolidated Balance Sheet
			Gross Amount		of Liabilities		Financial
	Gross Amount		Offset in the		Presented in the		Instruments		Cash
	of Recognized		Consolidated		Consolidated		Posted as		Posted as		Net
	Liabilities		Balance Sheet		Balance Sheet		Collateral		Collateral		Amount
June 30, 2019
Repurchase Agreements	$	200,656	$	-	$	200,656	$	(198,751)	$	(1,905)	$	-
TBA securities		179		-		179		-		(66)		113
	$	200,835	$	-	$	200,835	$	(198,751)	$	(1,971)	$	113
December 31, 2018
Repurchase Agreements	$	200,396	$	-	$	200,396	$	(200,166)	$	(230)	$	-
TBA securities		938		-		938		-		(543)		395
	$	201,334	$	-	$	201,334	$	(200,166)	$	(773)	$	395

CAPITAL STOCK (Tables)

6 Months Ended

Jun. 30, 2019

Capital Stock [Abstract]

Issuances of Common Stock

The table below presents information related to Bimini Capital’s Class A Common Stock issued during the six and three months ended June 30, 2019 and 2018.

	Six Months Ended June 30,		Three Months Ended June 30,
Shares Issued Related To:	2019	2018	2019	2018
Shares sold directly to employees	-	83,332	-	-
Total shares of Class A Common Stock issued	-	83,332	-	-

STOCK INCENTIVE PLANS (Tables)

6 Months Ended

Jun. 30, 2019

Employee Benefits And Share Based Compensation [Abstract]

Schedule of Performance Units outstanding

The following table presents the activity related to Performance Units during the six months ended June 30, 2019 and 2018:

($ in thousands, except per share data)
	Six Months Ended June 30,
	2019				2018
			Weighted				Weighted
			Average				Average
			Grant Date				Grant Date
			Fair Value				Fair Value
	Shares		Per Share	Shares			Per Share
Unvested, beginning of period	-	$	-		41,000	$	0.84
Granted	-		-		-		-
Vested and issued	-		-		-		-
Unvested, end of period	-	$	-		41,000	$	0.84

Compensation expense during the period		$	-			$	6
Unrecognized compensation expense at period end		$	-			$	5
Weighted-average remaining vesting term (in years)			-				0.5
Intrinsic value of unvested shares at period end		$	-			$	97

EARNINGS PER SHARE (Tables)

6 Months Ended

Jun. 30, 2019

Earnings Per Share [Abstract]

Schedule of reconciling the numerator and denominator of EPS

The table below reconciles the numerator and denominator of EPS for the six and three months ended June 30, 2019 and 2018.

(in thousands, except per-share information)
			Six Months Ended June 30,				Three Months Ended June 30,
				2019		2018		2019		2018
Basic and diluted EPS per Class A common share:
Income (loss) attributable to Class A common shares:
	Basic and diluted		$	1,114	$	(3,043)	$	(501)	$	221
Weighted average common shares:
	Class A common shares outstanding at the balance sheet date			12,709		12,713		12,709		12,713
	Unvested dividend-eligible stock incentive plan shares
		outstanding at the balance sheet date		-		-		-		41
	Effect of weighting			-		17		-		16
Weighted average shares-basic and diluted				12,709		12,730		12,709		12,770
Income (loss) per Class A common share:
	Basic and diluted		$	0.09	$	(0.24)	$	(0.04)	$	0.02

(in thousands, except per-share information)
		Six Months Ended June 30,				Three Months Ended June 30,
			2019		2018		2019		2018
Basic and diluted EPS per Class B common share:
Income (loss) attributable to Class B common shares:
	Basic and diluted	$	3	$	(8)	$	(1)	$	1
Weighted average common shares:
	Class B common shares outstanding at the balance sheet date		32		32		32		32
Weighted average shares-basic and diluted			32		32		32		32
Income (loss) per Class B common share:
	Basic and diluted	$	0.09	$	(0.24)	$	(0.04)	$	0.02

FAIR VALUE (Tables)

6 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

Schedule of financial assets (liabilities) measured at fair value on a recurring basis

The following table presents financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2019 and December 31, 2018:

(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)
June 30, 2019
Mortgage-backed securities	$	211,170	$	-	$	211,170	$	-
Orchid Island Capital, Inc. common stock		9,667		9,667		-		-
TBA securities		(179)		-		(179)		-
December 31, 2018
Mortgage-backed securities	$	212,424	$	-	$	212,424	$	-
Orchid Island Capital, Inc. common stock		9,713		9,713		-		-
TBA securities		(938)		-		(938)		-

Changes is Level 3 Assets Measured at Fair Value on a Recurring Basis

(in thousands)
		Retained Interests in Securitizations
		Six Months Ended June 30,
		2019		2018
Balances, January 1	$	-	$	653
Gain (loss) included in earnings		275		(252)
Collections		(275)		(401)
Balances, June 30	$	-	$	-

SEGMENT INFORMATION (Tables)

6 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Schedule Of Segment Reporting Information By Segment [Text Block]

Segment information for the six months ended June 30, 2019 and 2018 is as follows:

(in thousands)
	Asset		Investment
	Management		Portfolio		Corporate		Eliminations		Total
2019
Advisory services, external customers	$	3,261	$	-	$	-	$	-	$	3,261
Advisory services, other operating segments⁽¹⁾		137		-		-		(137)		-
Interest and dividend income		-		5,053		1		-		5,054
Interest expense		-		(2,653)		(806)⁽²⁾		-		(3,459)
Net revenues		3,398		2,400		(805)		(137)		4,856
Other		-		18		(134)⁽³⁾		-		(116)
Operating expenses⁽⁴⁾		(1,272)		(1,947)		-		-		(3,219)
Intercompany expenses⁽¹⁾		-		(137)		-		137		-
Income (loss) before income taxes	$	2,126	$	334	$	(939)	$	-	$	1,521

	Asset		Investment
	Management		Portfolio		Corporate		Eliminations		Total
2018
Advisory services, external customers	$	4,060	$	-	$	-	$	-	$	4,060
Advisory services, other operating segments⁽¹⁾		120		-		-		(120)		-
Interest and dividend income		-		4,962		-		-		4,962
Interest expense		-		(1,746)		(709)⁽²⁾		-		(2,455)
Net revenues		4,180		3,216		(709)		(120)		6,567
Other		-		(7,539)		306 ⁽³⁾		-		(7,233)
Operating expenses⁽⁴⁾		(1,498)		(1,892)		-		-		(3,390)
Intercompany expenses⁽¹⁾		-		(120)		-		120		-
Income (loss) before income taxes	$	2,682	$	(6,335)	$	(403)	$	-	$	(4,056)

Reconciliation of Assets from Segment to Consolidated [Table Text Block]

Assets in each reportable segment as of June 30, 2019 and December 31, 2018 were as follows:

(in thousands)
	Asset		Investment
	Management		Portfolio		Corporate		Total
June 30, 2019	$	1,476	$	245,693	$	12,593	$	259,762
December 31, 2018		1,488		245,866		12,046		259,400

SIGNIFICANT ACCOUNTING POLICIES - Organization (Details)	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Entity Incorporation, Date of Incorporation	Sep. 24, 2003

SIGNIFICANT ACCOUNTING POLICIES - Cash (Details)	Jun. 30, 2019 USD ($)
Accounting Policies [Abstract]
Uninsured Cash Balances	$ 4,500,000

SIGNIFICANT ACCOUNTING POLICIES - Cash, Cash Equivalents and Restricted Cash (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Cash and cash equivalents	$ 5,883,398	$ 4,947,801
Restricted cash	2,656,085	1,292,687
Cash Cash Equivalents And Restricted Cash	$ 8,539,483	$ 6,240,488	$ 8,792,111	$ 8,752,860

ADVISORY SERVICES (Details) - USD ($)	3 Months Ended		6 Months Ended
ADVISORY SERVICES (Details) - USD ($)	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Advisory Services [Line Items]
Management Fee Revenue	$ 1,653,796	$ 1,966,994	$ 3,261,116	$ 4,060,459
Orchid Island Capital [Member]
Advisory Services [Line Items]
Management Fee Revenue	1,654,000	1,967,000	3,261,000	4,060,000
Due From Affiliate	600,000		600,000		$ 700,000
Orchid Island Capital [Member] \| Management Fees [Member]
Advisory Services [Line Items]
Management Fee Revenue	1,327,000	1,606,000	2,611,000	3,318,000
Orchid Island Capital [Member] \| Overhead Allocation [Member]
Advisory Services [Line Items]
Management Fee Revenue	$ 327,000	$ 361,000	$ 650,000	$ 742,000

MORTGAGE-BACKED SECURITIES - MBS Portfolio (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Schedule of Trading Securities and Other Trading Assets [Line Items]
Fair Value	$ 211,170,462	$ 212,424,192
Total Pass Through Certificates [Member] \| Fixed Rate Mortgages [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Fair Value	209,080,000	209,675,000
Total Strucutured MBS Certificates [Member] \| Interest Only Securities [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Fair Value	1,472,000	2,021,000
Total Strucutured MBS Certificates [Member] \| Inverse Interest Only [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Fair Value	$ 618,000	$ 728,000

REPURCHASE AGREEMENTS - Narrative (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Assets Sold under Agreements to Repurchase [Line Items]
Outstanding repurchase obligations	$ 200,656,000	$ 200,396,000
Fair Value of securities pledged, including accrued interest receivable	211,867,000	213,127,000
Restricted Cash And Cash Equivalents At Carrying Value	$ 2,656,085	$ 1,292,687
Net weighted average borrowing rate	2.63%	2.56%
Aggregate amount at risk will all counterparties	$ 12,400,000	$ 12,400,000
Repurchase Agreements [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Restricted Cash And Cash Equivalents At Carrying Value	$ 1,905,000	$ 230,000

REPURCHASE AGREEMENTS - Maturities (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Assets Sold under Agreements to Repurchase [Line Items]
Fair Value of securities pledged, including accrued interest receivable	$ 211,867,000	$ 213,127,000
Outstanding repurchase obligations	$ 200,656,000	$ 200,396,000
Net weighted average borrowing rate	2.63%	2.56%
Overnight (1 Day or Less) [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Fair Value of securities pledged, including accrued interest receivable	$ 1,692,000	$ 0
Outstanding repurchase obligations	$ 1,146,000	$ 0
Net weighted average borrowing rate	2.94%	0.00%
Between 2 and 30 Days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Fair Value of securities pledged, including accrued interest receivable	$ 89,115,000	$ 107,876,000
Outstanding repurchase obligations	$ 84,967,000	$ 101,327,000
Net weighted average borrowing rate	2.64%	2.56%
Between 31 and 90 Days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Fair Value of securities pledged, including accrued interest receivable	$ 116,520,000	$ 105,251,000
Outstanding repurchase obligations	$ 110,355,000	$ 99,069,000
Net weighted average borrowing rate	2.62%	2.56%
Greater Than 90 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Fair Value of securities pledged, including accrued interest receivable	$ 4,540,000	$ 0
Outstanding repurchase obligations	$ 4,188,000	$ 0
Net weighted average borrowing rate	2.64%	0.00%

REPURCHASE AGREEMENTS - Amount at Risk in Exceess of Ten Percent of Equity (Details)	3 Months Ended	6 Months Ended
	Dec. 31, 2018 USD ($)	Jun. 30, 2019 USD ($)
Repurchase Agreement Counterparty [Line Items]
Repurchase Agreement Counterparty, Amount at Risk	$ 12,400,000	$ 12,400,000
ED&F Man Capital Markets Inc [Member]
Repurchase Agreement Counterparty [Line Items]
Repurchase Agreement Counterparty, Amount at Risk	$ 4,037,000	$ 5,681,000
Percent Of Equity At Risk	0.139	0.189
Repurchase Agreement Counterparty, Weighted Average Maturity	17 days	29 days
Mirae Asset Securities (USA) Inc. [Member]
Repurchase Agreement Counterparty [Line Items]
Repurchase Agreement Counterparty, Amount at Risk	$ 3,506,000	$ 3,411,000
Percent Of Equity At Risk	0.121	0.113
Repurchase Agreement Counterparty, Weighted Average Maturity	40 days	51 days

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Derivative Assets and Liabilties (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Derivitive Financial Instruments [Line Items]
Restricted Cash And Cash Equivalents At Carrying Value	$ 2,656,085	$ 1,292,687
Other Liabilities	1,412,628	2,566,353
NotDesignatedAsHedgingInstrumentEconomicHedgeMember
Derivitive Financial Instruments [Line Items]
Restricted Cash And Cash Equivalents At Carrying Value	751,000	1,063,000
Other Liabilities	179,000	938,000
TBA Contracts [Member] \| NotDesignatedAsHedgingInstrumentEconomicHedgeMember
Derivitive Financial Instruments [Line Items]
Other Liabilities	179,000	938,000
Eurodollar Future Margin [Member] \| NotDesignatedAsHedgingInstrumentEconomicHedgeMember
Derivitive Financial Instruments [Line Items]
Restricted Cash And Cash Equivalents At Carrying Value	685,000	520,000
TBA Margin [Member] \| NotDesignatedAsHedgingInstrumentEconomicHedgeMember
Derivitive Financial Instruments [Line Items]
Restricted Cash And Cash Equivalents At Carrying Value	$ 66,000	$ 543,000

DERIVATIVE FINANCIAL INSTRUMENTS - Eurodollar Futures Positions (Details) - Short [Member] - Eurodollar Future [Member] - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Repurchase Agreement Funding Hedges [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	$ 130,000,000	$ 125,000,000
Entry Rate	2.80%	2.74%
Weighted Average Effective Rate	1.68%	2.54%
Open Equity	$ (3,648,000)	$ (730,000)
Repurchase Agreement Funding Hedges [Member] \| Year 2019 Expiration [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	$ 150,000,000	$ 125,000,000
Entry Rate	2.71%	2.56%
Weighted Average Effective Rate	1.96%	2.67%
Open Equity	$ (568,000)	$ 139,000
Repurchase Agreement Funding Hedges [Member] \| Year 2020 Expiration [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	$ 150,000,000	$ 150,000,000
Entry Rate	2.84%	2.84%
Weighted Average Effective Rate	1.61%	2.49%
Open Equity	$ (1,849,000)	$ (523,000)
Repurchase Agreement Funding Hedges [Member] \| Year 2021 Expiration [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	$ 100,000,000	$ 100,000,000
Entry Rate	2.80%	2.80%
Weighted Average Effective Rate	1.57%	2.46%
Open Equity	$ (1,231,000)	$ (346,000)
Junior Subordinated Debt Funding Hedges [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	$ 21,667,000	$ 26,000,000
Entry Rate	1.84%	1.93%
Weighted Average Effective Rate	1.76%	2.54%
Open Equity	$ (26,000)	$ 474,000
Junior Subordinated Debt Funding Hedges [Member] \| Year 2019 Expiration [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	$ 26,000,000	$ 26,000,000
Entry Rate	1.72%	1.63%
Weighted Average Effective Rate	1.96%	2.68%
Open Equity	$ 31,000	$ 271,000
Junior Subordinated Debt Funding Hedges [Member] \| Year 2020 Expiration [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	$ 19,500,000	$ 26,000,000
Entry Rate	1.92%	1.95%
Weighted Average Effective Rate	1.63%	2.49%
Open Equity	$ (57,000)	$ 142,000
Junior Subordinated Debt Funding Hedges [Member] \| Year 2021 Expiration [Member]
Derivatives, Fair Value [Line Items]
Notional Amount		$ 26,000,000
Entry Rate		2.22%
Weighted Average Effective Rate		2.46%
Open Equity		$ 61,000

DERIVATIVE FINANCIAL INSTRUMENTS - TBA positions (Details) - 30 Year [Member] - 3% [Member] - Short [Member] - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Derivatives, Fair Value [Line Items]
Notional Amount	$ (65,000,000)	$ (50,000,000)
Cost Basis	(66,280,000)	(47,844,000)
Market Value Of TBA Contract	(66,459,000)	(48,782,000)
Derivative Asset Fair Value Gross Liability	$ (179,000)	$ (938,000)

DERIVATIVE FINANCIAL INSTRUMENTS - Effect on the consolidated statements of operations (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Derivative Instruments, Gain (Loss) [Line Items]
(Losses) gains on derivative instruments	$ (3,364,345)	$ 869,710	$ (5,621,756)	$ 2,610,422
Eurodollar Future [Member] \| Repurchase Agreement Funding Hedges [Member]
Derivative Instruments, Gain (Loss) [Line Items]
(Losses) gains on derivative instruments	(1,860,000)	534,000	(2,831,000)	1,624,000
Eurodollar Future [Member] \| Junior Subordinated Debt Funding Hedges [Member]
Derivative Instruments, Gain (Loss) [Line Items]
(Losses) gains on derivative instruments	(189,000)	142,000	(409,000)	557,000
Treasury Note Future [Member] \| Repurchase Agreement Funding Hedges [Member]
Derivative Instruments, Gain (Loss) [Line Items]
(Losses) gains on derivative instruments	(581,000)	0	(581,000)	759,000
TBA Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
(Losses) gains on derivative instruments	$ (734)	$ 194	$ (1,801,000)	$ (330,000)

PLEDGED ASSETS - Assets Pledged to Counterparties (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Financial Instruments Owned and Pledged as Collateral [Line Items]
Financial Instruments, Owned and Pledged as Collateral, at Fair Value	$ 211,118,462	$ 212,349,874
Accrued interest receivable	750,193	780,535
Restricted cash	2,656,085	1,292,687
Repurchase Agreements [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Accrued interest receivable	748,000	777,000
Restricted cash	1,905,000	230,000
Pledged Assets Total	213,771,000	213,357,000
Derivative [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Accrued interest receivable	0	0
Restricted cash	751,000	1,063,000
Pledged Assets Total	751,000	1,063,000
Total Pledged Financial Instruments [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Accrued interest receivable	748,000	777,000
Restricted cash	2,656,000	1,293,000
Pledged Assets Total	214,522,000	214,420,000
Residential Mortgage Backed Securities [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Financial Instruments, Owned and Pledged as Collateral, at Fair Value	211,118,462	212,349,874
Residential Mortgage Backed Securities [Member] \| Repurchase Agreements [Member] \| Mortgage Backed Securities Pass Through Certificates [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Financial Instruments, Owned and Pledged as Collateral, at Fair Value	209,078,000	209,675,000
Residential Mortgage Backed Securities [Member] \| Repurchase Agreements [Member] \| Mortgage Backed Securities Structured Certificates [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Financial Instruments, Owned and Pledged as Collateral, at Fair Value	2,040,000	2,675,000
Residential Mortgage Backed Securities [Member] \| Derivative [Member] \| Mortgage Backed Securities Pass Through Certificates [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Financial Instruments, Owned and Pledged as Collateral, at Fair Value	0	0
Residential Mortgage Backed Securities [Member] \| Derivative [Member] \| Mortgage Backed Securities Structured Certificates [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Financial Instruments, Owned and Pledged as Collateral, at Fair Value	0	0
Residential Mortgage Backed Securities [Member] \| Total Pledged Financial Instruments [Member] \| Mortgage Backed Securities Pass Through Certificates [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Financial Instruments, Owned and Pledged as Collateral, at Fair Value	209,078,000	209,675,000
Residential Mortgage Backed Securities [Member] \| Total Pledged Financial Instruments [Member] \| Mortgage Backed Securities Structured Certificates [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Financial Instruments, Owned and Pledged as Collateral, at Fair Value	$ 2,040,000	$ 2,675,000

PLEDGED ASSETS - Assets Pledged from Counterparties (Details) - Repurchase Agreements [Member] - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Financial Instruments Owned and Pledged as Collateral [Line Items]
Cash Pledged By Counterparties	$ 21,000	$ 371,000
Total Assets Pledged By Counterparties	$ 21,000	$ 371,000

OFFSETTING ASSETS AND LIABILITIES - Offsetting of Liabilties (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Offsetting Liabilities [Line Items]
Gross Amount Of Recognized Liabilties	$ 200,835,000	$ 201,334,000
Gross Amount Of Liabilties Offset In The Balance Sheet	0	0
Net Amount Of Liabilities Presented In The Balance Sheet	200,835,000	201,334,000
Gross Amount Of Financial Instruments Posted Not Offset in Balance Sheet	(198,751,000)	(200,166,000)
Gross Amounts Of Cash Posted Not Offset In Balance Sheet	(1,971,000)	(773,000)
Net Amount Of Liabilities	113,000	395,000
Repurchase Agreements [Member]
Offsetting Liabilities [Line Items]
Gross Amount Of Recognized Liabilties	200,656,000	201,334,000
Gross Amount Of Liabilties Offset In The Balance Sheet	0	0
Net Amount Of Liabilities Presented In The Balance Sheet	200,656,000	201,334,000
Gross Amount Of Financial Instruments Posted Not Offset in Balance Sheet	(198,751,000)	(200,166,000)
Gross Amounts Of Cash Posted Not Offset In Balance Sheet	(1,905,000)	(773,000)
Net Amount Of Liabilities	0	395,000
TBA Contracts [Member]
Offsetting Liabilities [Line Items]
Gross Amount Of Recognized Liabilties	179,000	938,000
Gross Amount Of Liabilties Offset In The Balance Sheet	0	0
Net Amount Of Liabilities Presented In The Balance Sheet	179,000	938,000
Gross Amount Of Financial Instruments Posted Not Offset in Balance Sheet	0	0
Gross Amounts Of Cash Posted Not Offset In Balance Sheet	(66,000)	(543,000)
Net Amount Of Liabilities	$ 113,000	$ 395,000

TRUST PREFERRED SECURITIES - Narrative (Details) - USD ($)	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Outstanding Principal Balance	$ 26,804,440	$ 26,804,440
Junior Subordinated Debt [Member] \| Bimini Capital Trust II Junior Subordinated Note [Member] \| Three Month Libor [Member]
Debt Instrument [Line Items]
Outstanding Principal Balance	$ 26,800,000	$ 26,800,000
Basis Spread on Variable Rate	3.50%
Interest Rate at Period End	5.91%

CAPITAL STOCK - Issuances of Common Stock (Details) - shares	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Class A Common Stock [Member]
Class of Stock [Line Items]
Shares Sold to Employees	0	83,332
Total Shares Issued During Period	0	83,332
Class B Common Stock [Member]
Class of Stock [Line Items]
Total Shares Issued During Period	0	0
Class C Common Stock [Member]
Class of Stock [Line Items]
Total Shares Issued During Period	0	0

CAPITAL STOCK - Stock Repurchase Plan (Details) - Class A Common Stock [Member] - March 2018 Stock Repurchase Plan [Member]	6 Months Ended
	Jun. 30, 2019 USD ($) $ / shares shares
Share Repurchase Program [Line Items]
Authorized Shares	500,000
Stock Repurchase Program Expiration Date	Nov. 15, 2019
Aggregate Repurchase Cost \| $	$ 166,241
Shares Acquired	70,404
Average Cost Per Share \| $ / shares	$ 2.37

CAPITAL STOCK - Tender Offer (Details) - Class A Common Stock [Member] - July 2019 Tender Offer [Member] - Subsequent Event Member	6 Months Ended
	Jun. 30, 2019 USD ($) $ / shares shares
Tender Offer [Line Items]
Treasury Stock Shares Acquired \| shares	1,100,000
Treasury Stock Value Acquired Cost Method \| $	$ 2,200,000
Treasury Stock Acquired Average Cost Per Share \| $ / shares	$ 2

STOCK INCENTIVE PLAN - Descriptions of Plan (Details)	Jun. 30, 2019 shares
Employee Benefits And Share Based Compensation [Abstract]
Maximum Number of Shares to Be Issued the Plan	4,000,000

STOCK INCENTIVE PLAN - Incentive Share Awards (Details) - Performance Units Member [Member] - USD ($)	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Incentive Plan Compensation Expense	$ 0	$ 6,000
Unrecognized Compensation Cost	0	$ 5,000
Remaining Weighted Average Vesting Period		5 months 10 days
Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options, Aggregate Intrinsic Value Nonvested	$ 0	$ 97,000

STOCK INCENTIVE PLAN - Incentive Share Activity (Details) - Performance Units Member [Member] - $ / shares	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Incentive Share Activity, Shares
Nonvested - Beginning Balance	0	41,000
Granted	0	0
Forfeited	0	0
Vested	0	0
Nonvested - Ending Balance	0	41,000
Incentive Share Activity Weighted Average Grant Date Fair Value
Nonvested - Beginning Balance	$ 0	$ 0.84
Granted	0	0
Forfeited	0	0
Vested	0	0
Nonvested - Ending Balance	$ 0	$ 0.84

INCOME TAXES - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
INCOME TAXES - Narrative (Details) - USD ($)	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments	$ (659,791)	$ 309,260	$ 1,521,300	$ (4,055,796)
Income Tax Expense Benefit	$ (158,069)	$ 86,980	$ 404,419	$ (1,004,310)

EARNINGS PER SHARE (Details) - USD ($)	3 Months Ended		6 Months Ended
EARNINGS PER SHARE (Details) - USD ($)	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Class A Common Stock [Member]
Net Income (Loss) Available to Common Stockholders, Diluted [Abstract]
Net Income (Loss) Available to Common Stockholders, Basic	$ (501,000)	$ 221,000	$ 1,114,000	$ (3,043,000)
Net Income (Loss) Available to Common Stockholders, Diluted	$ (501,000)	$ 221,000	$ 1,114,000	$ (3,043,000)
Weighted Average Number of Shares Outstanding, Diluted [Abstract]
Common Shares Outstanding	12,709,000	12,713,000	12,709,000	12,713,000
Unvested Dividend Eligible Shares Outstanding at the Balance Sheet Date	0	41,000	0	0
Effect of Weighting	0	16,000	0	17,000
Weighted Average Shares - Basic and Diluted	12,708,555	12,770,265	12,708,587	12,729,666
Income (Loss) Per Share - Basic	$ (0.04)	$ 0.02	$ 0.09	$ (0.24)
Income (Loss) Pe Share - Diluted	$ (0.04)	$ 0.02	$ 0.09	$ (0.24)
Class B Common Stock [Member]
Net Income (Loss) Available to Common Stockholders, Diluted [Abstract]
Net Income (Loss) Available to Common Stockholders, Basic	$ (1,000)	$ 1,000	$ 3,000	$ (8,000)
Net Income (Loss) Available to Common Stockholders, Diluted	$ (1,000)	$ 1,000	$ 3,000	$ (8,000)
Weighted Average Number of Shares Outstanding, Diluted [Abstract]
Common Shares Outstanding	32,000	32,000	32,000	32,000
Effect of Weighting	0	0	0	0
Weighted Average Shares - Basic and Diluted	31,938	31,938	31,938	31,938
Income (Loss) Per Share - Basic	$ (0.04)	$ 0.02	$ 0.09	$ (0.24)
Income (Loss) Pe Share - Diluted	$ (0.04)	$ 0.02	$ 0.09	$ (0.24)

FAIR VALUE - Assets and Liabilities Recorded at Fair Value on Recurring Basis (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed securities	$ 211,170,462	$ 212,424,192
Orchid Island Capital, Inc. common stock, at fair value	9,667,429	9,713,030
Fair Value Assets Transfers Amount	0		$ 0
Estimate of Fair Value, Fair Value Disclosure [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed securities	211,170,000	212,424,000
Orchid Island Capital, Inc. common stock, at fair value	9,667,000	9,713,000
TBA Contracts	(179,000)	(938,000)
Fair Value, Inputs, Level 1 [Member] \| Estimate of Fair Value, Fair Value Disclosure [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed securities	0	0
Orchid Island Capital, Inc. common stock, at fair value	9,667,000	9,713,000
TBA Contracts	0	0
Fair Value, Inputs, Level 2 [Member] \| Estimate of Fair Value, Fair Value Disclosure [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed securities	211,170,000	212,424,000
Orchid Island Capital, Inc. common stock, at fair value	0	0
TBA Contracts	(179,000)	(938,000)
Fair Value, Inputs, Level 3 [Member] \| Estimate of Fair Value, Fair Value Disclosure [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed securities	0	0
Orchid Island Capital, Inc. common stock, at fair value	0	0
TBA Contracts	$ 0	$ 0

FAIR VALUE - Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis (Details) - Retained Interest [Member] - USD ($)	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	$ 0	$ 653,000
Gain (loss) Included in Earnings	275,000	(252,000)
Collections	275,000	401,000
Ending Balance	$ 0	$ 0

SEGMENT INFORMATION - Reconciliation of Segment Revenues (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Segment Reporting, Revenue Reconciling Item [Line Items]
Advisory services, external customers	$ 1,653,796	$ 1,966,994	$ 3,261,116	$ 4,060,459
Advisory Services Other Segments			0	0
Interest and dividend income			5,054,000	4,962,000
Interest expense			3,459,000	2,455,000
Net revenues			4,856,000	6,567,000
Other Income			(116,000)	(7,233,000)
Operating Expenses			3,219,000	3,390,000
Intercompany Expenses			0	0
Net (loss) income before income tax provision (benefit)	$ (659,791)	$ 309,260	1,521,300	(4,055,796)
Operating Segments [Member] \| Asset Management Segment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Advisory services, external customers			3,261,000	4,060,000
Advisory Services Other Segments			137,000	120,000
Interest and dividend income			0	0
Interest expense			0	0
Net revenues			3,398,000	4,180,000
Other Income			0	0
Operating Expenses			1,272,000	1,498,000
Intercompany Expenses			0	0
Net (loss) income before income tax provision (benefit)			2,126,000	2,682,000
Operating Segments [Member] \| Investment Portfolio Segment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Advisory services, external customers			0	0
Advisory Services Other Segments			0	0
Interest and dividend income			5,053,000	4,962,000
Interest expense			2,653,000	1,746,000
Net revenues			2,400,000	3,216,000
Other Income			18,000	(7,539,000)
Operating Expenses			1,947,000	1,892,000
Intercompany Expenses			137,000	120,000
Net (loss) income before income tax provision (benefit)			334,000	(6,335,000)
Corporate, Non-Segment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Advisory services, external customers			0	0
Advisory Services Other Segments			0	0
Interest and dividend income			1,000	0
Interest expense			806,000	709,000
Net revenues			(805,000)	(709,000)
Other Income			(134,000)	306,000
Operating Expenses			0	0
Intercompany Expenses			0	0
Net (loss) income before income tax provision (benefit)			(939,000)	(403,000)
Intersegment Eliminations [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Advisory services, external customers			0	0
Advisory Services Other Segments			(137,000)	(120,000)
Interest and dividend income			0	0
Interest expense			0	0
Net revenues			(137,000)	(120,000)
Other Income			0	0
Operating Expenses			0	0
Intercompany Expenses			(137,000)	(120,000)
Net (loss) income before income tax provision (benefit)			$ 0	$ 0

SEGMENT INFORMATION - Reconciliation of Segment Assets (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 259,761,513	$ 259,399,676
Operating Segments [Member] \| Asset Management Segment [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	1,476,000	1,488,000
Operating Segments [Member] \| Investment Portfolio Segment [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	245,693,000	245,866,000
Corporate, Non-Segment [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 12,593,000	$ 12,046,000

SEGMENT INFORMATION - Revenue From Major Customer (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Entity Wide Revenue Major Customer [LineItems]
Revenues	$ 4,152,282	$ 4,377,914	$ 8,314,826	$ 9,022,856
Total Revenue [Member] \| Orchid Island Capital [Member]
Entity Wide Revenue Major Customer [LineItems]
Revenues			$ 3,261,000	$ 4,060,000
Percentgage of Total Sales			39.00%	45.00%

RELATED PARTY TRANSACTIONS (Details) - USD ($)	3 Months Ended		6 Months Ended
RELATED PARTY TRANSACTIONS (Details) - USD ($)	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Related Party Transaction [Line Items]
Investment Income, Dividend	$ 364,809	$ 410,410	$ 729,617	$ 881,621
Orchid Island Capital [Member]
Related Party Transaction [Line Items]
Investment Owned Balance Shares	1,520,036		1,520,036		1,520,036
Equity Method Investment Ownership Percentage	2.80%		2.80%		3.10%