$BMNM
Bimini Capital Management Inc

2017 Form 10-K Financial Statement

#000127547718000043 Filed on March 09, 2018

View on sec.gov

Income Statement

Concept 2017 2016 Q4 2016
Revenue $16.00M $2.390M $12.07M
YoY Change 32.62% -41.13% 179.85%
Cost Of Revenue $3.033M $540.0K $1.856M
YoY Change 63.44% 45.95% 30.43%
Gross Profit $9.298M $1.850M $10.27M
YoY Change -9.47% -49.86% 59.58%
Gross Profit Margin 58.1% 77.41% 85.12%
Selling, General & Admin $6.403M $1.660M $5.744M
YoY Change 11.48% -19.02% -40.78%
% of Gross Profit 68.86% 89.73% 55.92%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $77.11K $0.00 $85.57K
YoY Change -9.89% -6.98%
% of Gross Profit 0.83% 0.0% 0.83%
Operating Expenses $6.403M $1.660M $5.743M
YoY Change 11.49% -27.19% -40.79%
Operating Profit $2.895M $190.0K $4.528M
YoY Change -36.06% -86.52% -238.81%
Interest Expense $747.4K
YoY Change 75.81%
% of Operating Profit 16.5%
Other Income/Expense, Net -$3.673M $59.94K
YoY Change -6227.53%
Pretax Income $2.896M $180.0K $4.528M
YoY Change -36.05% -87.32% -240.66%
Income Tax $19.38M -$980.0K $1.142M
% Of Pretax Income 669.24% -544.44% 25.22%
Net Earnings -$16.48M $1.160M $3.386M
YoY Change -586.79% -98.21% -94.28%
Net Earnings / Revenue -102.99% 48.54% 28.06%
Basic Earnings Per Share
Diluted Earnings Per Share -$1.301M $91.05K $266.0K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2017 2016 Q4 2016
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.103M $4.400M $4.429M
YoY Change 37.79% -30.16% -29.81%
Cash & Equivalents $6.103M $4.429M $4.429M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $746.1K $500.0K $512.8K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $6.849M $4.900M $4.942M
YoY Change 38.59% -26.87% -25.81%
LONG-TERM ASSETS
Property, Plant & Equipment $3.359M $3.407M $3.407M
YoY Change -1.4% -2.45% -2.45%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $209.7M $804.0K $130.3M
YoY Change 60.93% 0.0% 55.14%
Other Assets $47.17M $65.10M $65.06M
YoY Change -27.49% -0.15% -0.27%
Total Long-Term Assets $277.7M $218.0M $217.9M
YoY Change 27.45% 27.95% 27.9%
TOTAL ASSETS
Total Short-Term Assets $6.849M $4.900M $4.942M
Total Long-Term Assets $277.7M $218.0M $217.9M
Total Assets $284.6M $222.9M $222.9M
YoY Change 27.69% 25.88% 25.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $346.4K $100.0K $114.2K
YoY Change 203.36% 0.0% 36.02%
Deferred Revenue
YoY Change
Short-Term Debt $200.2M $121.8M $121.8M
YoY Change 64.32% 57.77% 57.74%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $200.5M $121.9M $121.9M
YoY Change 64.45% 53.91% 54.01%
LONG-TERM LIABILITIES
Long-Term Debt $26.80M $26.80M $26.80M
YoY Change 0.0% 0.0% 0.0%
Other Long-Term Liabilities $1.563M $2.000M $1.977M
YoY Change -20.96% -20.0% -21.95%
Total Long-Term Liabilities $28.37M $28.80M $28.78M
YoY Change -1.44% -1.71% -1.9%
TOTAL LIABILITIES
Total Short-Term Liabilities $200.5M $121.9M $121.9M
Total Long-Term Liabilities $28.37M $28.80M $28.78M
Total Liabilities $228.9M $150.7M $150.7M
YoY Change 51.87% 38.9% 38.9%
SHAREHOLDERS EQUITY
Retained Earnings -$262.7M
YoY Change -1.27%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $55.69M $72.15M $72.15M
YoY Change
Total Liabilities & Shareholders Equity $284.6M $222.9M $222.9M
YoY Change 27.69% 25.88% 25.88%

Cashflow Statement

Concept 2017 2016 Q4 2016
OPERATING ACTIVITIES
Net Income -$16.48M $1.160M $3.386M
YoY Change -586.79% -98.21% -94.28%
Depreciation, Depletion And Amortization $77.11K $0.00 $85.57K
YoY Change -9.89% -6.98%
Cash From Operating Activities $6.331M $3.200M $3.689M
YoY Change 71.63% 60.0% 519.15%
INVESTING ACTIVITIES
Capital Expenditures -$29.38K $0.00 $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$81.56M $500.0K -$49.34M
YoY Change 65.28% -98.63% -246.22%
Cash From Investing Activities -$81.59M $500.0K -$49.34M
YoY Change 65.34% -98.63% -246.22%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 78.36M -4.200M 44.59M
YoY Change 75.71% -88.46% -236.25%
NET CHANGE
Cash From Operating Activities 6.331M 3.200M $3.689M
Cash From Investing Activities -81.59M 500.0K -49.34M
Cash From Financing Activities 78.36M -4.200M 44.59M
Net Change In Cash 3.101M -500.0K $3.689M
YoY Change -15.93% -122.73% 519.15%
FREE CASH FLOW
Cash From Operating Activities $6.331M $3.200M $3.689M
Capital Expenditures -$29.38K $0.00 $0.00
Free Cash Flow $6.361M $3.200M $3.689M
YoY Change 72.42% 60.0% 519.15%

Facts In Submission

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<div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:13.8pt;' ><font style='font-family:Arial Narrow;font-size:11pt;font-weight:bold;margin-left:0pt;' >Use of Estimates</font></p><p style='text-align:left;line-height:13.8pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:13.8pt;' ><font style='font-family:Arial Narrow;font-size:11pt;margin-left:18pt;' >The preparation of financial statements in conformity with GAAP requires management to make estimates and ass</font><font style='font-family:Arial Narrow;font-size:11pt;' >umptions 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 co</font><font style='font-family:Arial Narrow;font-size:11pt;' >uld differ from those estimates. Significant estimates affecting the accompanying </font><font style='font-family:Arial Narrow;font-size:11pt;' >consolidated </font><font style='font-family:Arial Narrow;font-size:11pt;' >financial statements include </font><font style='font-family:Arial Narrow;font-size:11pt;' >determining </font><font style='font-family:Arial Narrow;font-size:11pt;' >the fair values of MBS, </font><font style='font-family:Arial Narrow;font-size:11pt;' >investment in Orchid common shares, derivatives and </font><font style='font-family:Arial Narrow;font-size:11pt;' >retained interests</font><font style='font-family:Arial Narrow;font-size:11pt;' >,</font><font style='font-family:Arial Narrow;font-size:11pt;' > and </font><font style='font-family:Arial Narrow;font-size:11pt;' >determining the amo</font><font style='font-family:Arial Narrow;font-size:11pt;' >unts of </font><font style='font-family:Arial Narrow;font-size:11pt;' >asset valuation allowances</font><font style='font-family:Arial Narrow;font-size:11pt;' > and the level of deferred tax asset allowances recorded for each accounting period</font><font style='font-family:Arial Narrow;font-size:11pt;' >.</font><font style='font-family:Arial Narrow;font-size:11pt;' > As described in more detail in Note 15, estimates used for the deferred tax assets and associated asset allowances are numerous and the p</font><font style='font-family:Arial Narrow;font-size:11pt;' >rojection periods extend over the remaining lives of the net operating losses, to 2029 in the case of Royal Palm and 2036 in the case of Bimini. Such estimates can change materially from year to year as market conditions change or Orchid Island Capital gr</font><font style='font-family:Arial Narrow;font-size:11pt;' >ows through the issuance of new equity.</font></p><p style='text-align:left;line-height:13.8pt;' ></p></div>
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<div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:13.8pt;' ><font style='font-family:Arial Narrow;font-size:11pt;margin-left:18pt;' >As of </font><font style='font-family:Arial Narrow;font-size:11pt;' >December 31, 2017</font><font style='font-family:Arial Narrow;font-size:11pt;' > and December 31, </font><font style='font-family:Arial Narrow;font-size:11pt;' >2016</font><font style='font-family:Arial Narrow;font-size:11pt;' >, the Company&#8217;s repurchase agreements had remaining maturities as summarized below:</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:228pt;border-bottom-style:solid;border-bottom-width:2;text-align:left;vertical-align:bottom;border-color:Black;min-width:228pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-style:italic;color:#000000;' >($ in thousands)</font></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:2;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:2;text-align:left;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:2;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:2;text-align:left;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:2;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:2;text-align:left;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:2;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:2;text-align:left;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:2;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:48pt;border-bottom-style:solid;border-bottom-width:2;text-align:left;vertical-align:bottom;border-color:Black;min-width:48pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;border-top-style:solid;border-top-width:2;text-align:left;vertical-align:bottom;border-color:Black;min-width:11.25pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' ></font></td><td style='width:216.75pt;border-top-style:solid;border-top-width:2;text-align:left;vertical-align:bottom;border-color:Black;min-width:216.75pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' ></font></td><td colspan='2' rowspan='1' style='width:63pt;border-top-style:solid;border-top-width:2;text-align:center;vertical-align:bottom;border-color:Black;min-width:63pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' >OVERNIGHT</font></td><td colspan='2' rowspan='1' style='width:63pt;border-top-style:solid;border-top-width:2;text-align:center;vertical-align:bottom;border-color:Black;min-width:63pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' >BETWEEN 2</font></td><td colspan='2' rowspan='1' style='width:63pt;border-top-style:solid;border-top-width:2;text-align:center;vertical-align:bottom;border-color:Black;min-width:63pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' >BETWEEN 31</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:2;text-align:center;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' ></font></td><td style='width:55.5pt;border-top-style:solid;border-top-width:2;text-align:center;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' >GREATER </font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:2;text-align:center;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' ></font></td><td style='width:48pt;border-top-style:solid;border-top-width:2;text-align:center;vertical-align:bottom;border-color:Black;min-width:48pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' ></font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:11.25pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' ></font></td><td style='width:216.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:216.75pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' ></font></td><td colspan='2' rowspan='1' style='width:63pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:63pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' >(1 DAY OR</font></td><td colspan='2' rowspan='1' style='width:63pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:63pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' >AND</font></td><td colspan='2' rowspan='1' style='width:63pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:63pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' >AND</font></td><td style='width:7.5pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' ></font></td><td style='width:55.5pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' >THAN</font></td><td style='width:7.5pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' ></font></td><td style='width:48pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:48pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' ></font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:11.25pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' ></font></td><td style='width:216.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:216.75pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' ></font></td><td colspan='2' rowspan='1' style='width:63pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:bottom;border-color:Black;min-width:63pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' >LESS)</font></td><td colspan='2' rowspan='1' style='width:63pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:bottom;border-color:Black;min-width:63pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' >30 DAYS</font></td><td colspan='2' rowspan='1' style='width:63pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:bottom;border-color:Black;min-width:63pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' >90 DAYS</font></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' ></font></td><td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' >90 DAYS</font></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' ></font></td><td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:bottom;border-color:Black;min-width:48pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' >TOTAL</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:228pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:228pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' >December 31, 2017</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:48pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:228pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:228pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >Fair value of securities pledged, including accrued</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:48pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:11.25pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:216.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:216.75pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >interest receivable</font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >$</font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >-</font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >$</font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >94,649</font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >$</font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >115,350</font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >$</font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >-</font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >$</font></td><td style='width:48pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:48pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >209,999</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:228pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:228pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >Repurchase agreement liabilities associated with</font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:48pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:48pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:11.25pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:216.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:216.75pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >these securities</font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >$</font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >-</font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >$</font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >90,686</font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >$</font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >109,497</font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >$</font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >-</font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >$</font></td><td style='width:48pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:48pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >200,183</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:228pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:228pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >Net weighted average borrowing rate</font></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >- </font></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >1.47%</font></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >1.56%</font></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >- </font></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:48pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >1.52%</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:228pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:228pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' >December 31, 2016</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:48pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:228pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:228pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >Fair value of securities pledged, including accrued</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:48pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:11.25pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:216.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:216.75pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >interest receivable</font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >$</font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >-</font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >$</font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >71,565</font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >$</font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >41,334</font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >$</font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >17,172</font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >$</font></td><td style='width:48pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:48pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >130,071</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:228pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:228pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >Repurchase agreement liabilities associated with</font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:48pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:48pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:11.25pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:216.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:216.75pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >these securities</font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >$</font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >-</font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >$</font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >66,919</font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >$</font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >38,733</font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >$</font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >16,176</font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >$</font></td><td style='width:48pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:48pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >121,828</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:228pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:228pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >Net weighted average borrowing rate</font></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >- </font></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >1.01%</font></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >0.96%</font></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >0.98%</font></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:48pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >0.99%</font></td></tr></table></div>
CY2016 us-gaap Labor And Related Expense
LaborAndRelatedExpense
3324955 USD
CY2017 dei Trading Symbol
TradingSymbol
BMNM
CY2017 us-gaap Gain Loss On Derivative Instruments Held For Trading Purposes Net
GainLossOnDerivativeInstrumentsHeldForTradingPurposesNet
-46031 USD
CY2016 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
1197593 USD
CY2017 us-gaap Profit Loss
ProfitLoss
-16482620 USD
CY2017 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-7628000 USD
CY2017Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
59691000 USD
CY2017 us-gaap Income Taxes Paid
IncomeTaxesPaid
295943 USD
CY2016Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
40043000 USD
CY2017 dei Entity Registrant Name
EntityRegistrantName
Bimini Capital Management, Inc.
CY2016 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
245000 USD
CY2017Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
284588797 USD
CY2017 us-gaap Labor And Related Expense
LaborAndRelatedExpense
3851925 USD
CY2017 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2016 us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
-556161 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-262716636 USD
CY2016Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1024000 USD
CY2016Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
55692248 USD
CY2016Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017 us-gaap Interest Paid
InterestPaid
2801122 USD
CY2016 us-gaap Proceeds From Collection Of Retained Interest In Securitized Receivables
ProceedsFromCollectionOfRetainedInterestInSecuritizedReceivables
2435732 USD
CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2016Q4 us-gaap Common Stock Value Outstanding
CommonStockValueOutstanding
12696 USD
CY2017 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
13000 USD
CY2016 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-780000 USD
CY2016 us-gaap Profit Loss
ProfitLoss
3386004 USD
CY2016 bmnm Losses Gains On Retained Interests In Securitizations
LossesGainsOnRetainedInterestsInSecuritizations
2425190 USD
CY2016Q4 us-gaap Interest Receivable
InterestReceivable
512760 USD
CY2017 bmnm Losses Gains On Retained Interests In Securitizations
LossesGainsOnRetainedInterestsInSecuritizations
645221 USD
CY2017Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2016 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
1539000 USD
CY2017 us-gaap Investment Income Interest
InvestmentIncomeInterest
6054381 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3407040 USD
CY2017Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
64749000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
68540060 USD
CY2016 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
44593337 USD
CY2017Q4 us-gaap Liabilities
Liabilities
228896549 USD
CY2017Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2016Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
222870404 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3359312 USD
CY2017 bmnm Proceeds From Sale Of Mortgage Backed Securities Mbs Categorized As Trading
ProceedsFromSaleOfMortgageBackedSecuritiesMbsCategorizedAsTrading
1654834 USD
CY2016Q4 us-gaap Liabilities
Liabilities
150723506 USD
CY2016 us-gaap Current Federal State And Local Tax Expense Benefit
CurrentFederalStateAndLocalTaxExpenseBenefit
143000 USD
CY2016 us-gaap Deferred Federal State And Local Tax Expense Benefit
DeferredFederalStateAndLocalTaxExpenseBenefit
999000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
72146898 USD
CY2017Q4 us-gaap Common Stock Value Outstanding
CommonStockValueOutstanding
12725 USD
CY2016Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
103876000 USD
CY2017 us-gaap Debt Instrument Basis Spread On Variable Rate1
DebtInstrumentBasisSpreadOnVariableRate1
0.035 pure
CY2016 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
30242 USD
CY2017 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
157000 USD
CY2017 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
232245 USD
CY2017Q4 us-gaap Deferred Tax Assets Hedging Transactions
DeferredTaxAssetsHedgingTransactions
49000 USD
CY2017Q4 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.0509 pure
CY2016 us-gaap Repurchase Agreements Interest Expense Amount
RepurchaseAgreementsInterestExpenseAmount
747374 USD
CY2016 us-gaap Gain Loss On Derivative Instruments Held For Trading Purposes Net
GainLossOnDerivativeInstrumentsHeldForTradingPurposesNet
-15638 USD
CY2016 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
999179 USD
CY2017 dei Document Period End Date
DocumentPeriodEndDate
2017-12-31
CY2017Q2 dei Entity Public Float
EntityPublicFloat
24300000 USD
CY2017Q4 us-gaap Other Liabilities
OtherLiabilities
1562914 USD
CY2017Q4 us-gaap Deferred Tax Assets Investments
DeferredTaxAssetsInvestments
2349000 USD
CY2016Q4 us-gaap Deferred Tax Assets Hedging Transactions
DeferredTaxAssetsHedgingTransactions
366000 USD
CY2017 us-gaap Professional Fees
ProfessionalFees
455167 USD
CY2016 us-gaap Investment Income Interest
InvestmentIncomeInterest
4235081 USD
CY2016 us-gaap Professional Fees
ProfessionalFees
599243 USD
CY2016Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2017 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2016Q4 us-gaap Junior Subordinated Notes
JuniorSubordinatedNotes
26804440 USD
CY2017Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2016 bmnm Payments To Acquire Mortgage Backed Securities Mbs Categorized As Trading
PaymentsToAcquireMortgageBackedSecuritiesMbsCategorizedAsTrading
136092749 USD
CY2016 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-49343407 USD
CY2017 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2017
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0 USD
CY2017 dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
CY2017Q4 us-gaap Deferred Tax Assets Valuation Allowance
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20224000 USD
CY2017 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
233361 USD
CY2017Q4 us-gaap Junior Subordinated Notes
JuniorSubordinatedNotes
26804440 USD
CY2017 us-gaap Proceeds From Collection Of Retained Interest In Securitized Receivables
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1105577 USD
CY2016 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
220834 USD
CY2017 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
0 USD
CY2017 dei Entity Central Index Key
EntityCentralIndexKey
0001275477
CY2017 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
19378150 USD
CY2017 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
984000 USD
CY2016Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
63833063 USD
CY2017 us-gaap Interest Expense Junior Subordinated Debentures
InterestExpenseJuniorSubordinatedDebentures
1237614 USD
CY2017Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2017Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
44524584 USD
CY2017 bmnm Proceeds From Maturities Prepayments And Calls Of Mortgage Backed Securities Categorized As Trading
ProceedsFromMaturitiesPrepaymentsAndCallsOfMortgageBackedSecuritiesCategorizedAsTrading
12473268 USD
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
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70000 shares
CY2016 bmnm Advisory Services Other Segments
AdvisoryServicesOtherSegments
0 USD
CY2016 us-gaap Interest And Debt Expense
InterestAndDebtExpense
1856000 USD
CY2016 us-gaap Other Income
OtherIncome
60000 USD
CY2017 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:13.8pt;' ><font style='font-family:Arial Narrow;font-size:11pt;font-weight:bold;margin-left:0pt;' >Reclassifications</font></p><p style='text-align:left;line-height:13.8pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:13.8pt;' ><font style='font-family:Arial Narrow;font-size:11pt;margin-left:18pt;' >Certain prior period amounts have been reclassified to conform to current period presentations.</font></p><p style='text-align:left;line-height:13.8pt;' ></p></div>
CY2017 dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2003-09-24
CY2017 dei Entity Incorporation State Country Name
EntityIncorporationStateCountryName
Maryland
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8752860 USD
CY2016Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5651437 USD
CY2017 us-gaap Management Fees Revenue
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7431359 USD
CY2016 us-gaap Management Fees Revenue
ManagementFeesRevenue
5488691 USD
CY2017 us-gaap Investment Income Dividend
InvestmentIncomeDividend
2518660 USD
CY2016 us-gaap Investment Income Dividend
InvestmentIncomeDividend
2343660 USD
CY2017 us-gaap Revenues
Revenues
16004400 USD
CY2016 us-gaap Revenues
Revenues
12067432 USD
CY2017 us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
-2066256 USD
CY2016 us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
-3785939 USD
CY2017 us-gaap Marketable Securities Realized Gain Loss
MarketableSecuritiesRealizedGainLoss
-689 USD
CY2016 us-gaap Marketable Securities Realized Gain Loss
MarketableSecuritiesRealizedGainLoss
179667 USD
CY2017 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-2206541 USD
CY2016 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
1255533 USD
CY2017 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1578 USD
CY2016 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1125 USD
CY2017 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-3672718 USD
CY2016 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
59938 USD
CY2017 us-gaap Noninterest Expense Directors Fees
NoninterestExpenseDirectorsFees
658752 USD
CY2016 us-gaap Noninterest Expense Directors Fees
NoninterestExpenseDirectorsFees
621873 USD
CY2016 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
27084 USD
CY2017 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
27970 USD
CY2017 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
6331383 USD
CY2016 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
3689024 USD
CY2017 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
-29379 USD
CY2016 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
0 USD
CY2017 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
3101423 USD
CY2016 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-1061046 USD
CY2015Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6712483 USD
CY2017 bmnm Advisory Services Other Segments
AdvisoryServicesOtherSegments
0 USD
CY2017 us-gaap Interest And Debt Expense
InterestAndDebtExpense
3033000 USD
CY2017 us-gaap Other Income
OtherIncome
-3672000 USD
CY2017Q4 us-gaap Deferred Tax Assets Unrealized Losses On Availablefor Sale Securities Gross
DeferredTaxAssetsUnrealizedLossesOnAvailableforSaleSecuritiesGross
1038000 USD
CY2016Q4 us-gaap Deferred Tax Assets Unrealized Losses On Availablefor Sale Securities Gross
DeferredTaxAssetsUnrealizedLossesOnAvailableforSaleSecuritiesGross
1425000 USD
CY2017Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
813000 USD
CY2016Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
1267000 USD
CY2017Q4 bmnm Deferred Tax Assets Accrued Expenses
DeferredTaxAssetsAccruedExpenses
148000 USD
CY2016Q4 bmnm Deferred Tax Assets Accrued Expenses
DeferredTaxAssetsAccruedExpenses
330000 USD
CY2017 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
25852000 USD
CY2016 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
0 USD
CY2017Q4 us-gaap Financial Instruments Owned Corporate Equities At Fair Value
FinancialInstrumentsOwnedCorporateEquitiesAtFairValue
14105934 USD
CY2017Q4 us-gaap Interests Continued To Be Held By Transferor Fair Value
InterestsContinuedToBeHeldByTransferorFairValue
653380 USD
CY2016Q4 us-gaap Financial Instruments Owned Corporate Equities At Fair Value
FinancialInstrumentsOwnedCorporateEquitiesAtFairValue
15108240 USD
CY2016Q4 us-gaap Interests Continued To Be Held By Transferor Fair Value
InterestsContinuedToBeHeldByTransferorFairValue
1113736 USD
CY2017 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
8573000 USD
CY2017 bmnm Net Segment Revenue
NetSegmentRevenue
12971000 USD
CY2016 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
6578000 USD
CY2016 bmnm Net Segment Revenue
NetSegmentRevenue
10211000 USD
CY2017 us-gaap Revenues Net Of Interest Expense
RevenuesNetOfInterestExpense
12971033 USD
CY2016 us-gaap Revenues Net Of Interest Expense
RevenuesNetOfInterestExpense
10211448 USD
CY2016Q4 us-gaap Financial Instruments Owned And Pledged As Collateral At Fair Value
FinancialInstrumentsOwnedAndPledgedAsCollateralAtFairValue
129582386 USD
CY2017Q4 us-gaap Financial Instruments Owned And Pledged As Collateral At Fair Value
FinancialInstrumentsOwnedAndPledgedAsCollateralAtFairValue
209269791 USD
CY2017Q4 us-gaap Financial Instruments Owned And Not Pledged At Fair Value
FinancialInstrumentsOwnedAndNotPledgedAtFairValue
422341 USD
CY2017 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
6402785 USD
CY2016 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5743664 USD
CY2017 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
1204235 USD
CY2016 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
1859277 USD
CY2017Q4 us-gaap Financial Instruments Owned At Fair Value
FinancialInstrumentsOwnedAtFairValue
209692132 USD
CY2016Q4 us-gaap Financial Instruments Owned At Fair Value
FinancialInstrumentsOwnedAtFairValue
130301989 USD
CY2017 us-gaap Operating Expenses
OperatingExpenses
6403000 USD
CY2016 us-gaap Operating Expenses
OperatingExpenses
5743000 USD
CY2017 us-gaap Depreciation
Depreciation
3359000 USD
CY2016 us-gaap Depreciation
Depreciation
3407000 USD
CY2017Q4 us-gaap Securities Sold Under Agreements To Repurchase Fair Value Of Collateral
SecuritiesSoldUnderAgreementsToRepurchaseFairValueOfCollateral
209999000 USD
CY2017 bmnm Trust Preferred Securities Textblock
TrustPreferredSecuritiesTextblock
<div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:13.8pt;' ><font style='font-family:Arial Narrow;font-size:11pt;font-weight:bold;margin-left:0pt;' >NOTE </font><font style='font-family:Arial Narrow;font-size:11pt;font-weight:bold;' >11</font><font style='font-family:Arial Narrow;font-size:11pt;font-weight:bold;' >. TRUST PREFERRED SECURITIES</font></p><p style='text-align:left;line-height:13.8pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:13.8pt;' ><font style='font-family:Arial Narrow;font-size:11pt;margin-left:18pt;' >During 2005, </font><font style='font-family:Arial Narrow;font-size:11pt;' >Bimini Capital sponsored </font><font style='font-family:Arial Narrow;font-size:11pt;' >the formation of a </font><font style='font-family:Arial Narrow;font-size:11pt;' >statutory trust, known as Bimini Capital Trust II (&#8220;BCTII&#8221;) of which 100% of the common eq</font><font style='font-family:Arial Narrow;font-size:11pt;' >uity is owned by Bimini Capital. It was</font><font style='font-family:Arial Narrow;font-size:11pt;' > 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 </font><font style='font-family:Arial Narrow;font-size:11pt;' >BCTII</font><font style='font-family:Arial Narrow;font-size:11pt;' > are the sole assets of </font><font style='font-family:Arial Narrow;font-size:11pt;' >BCTII</font><font style='font-family:Arial Narrow;font-size:11pt;' >.</font></p><p style='text-align:left;line-height:13.8pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:13.8pt;' ><font style='font-family:Arial Narrow;font-size:11pt;margin-left:18pt;' >As of </font><font style='font-family:Arial Narrow;font-size:11pt;' >December 31, 2017</font><font style='font-family:Arial Narrow;font-size:11pt;' > and </font><font style='font-family:Arial Narrow;font-size:11pt;' >2016</font><font style='font-family:Arial Narrow;font-size:11pt;' >,</font><font style='font-family:Arial Narrow;font-size:11pt;' > 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&#39;s BCTII Junior Subord</font><font style='font-family:Arial Narrow;font-size:11pt;' >inated Notes have a rate of interest that floats at a spread of 3.50% over the prevailing three-month LIBOR rate. </font><font style='font-family:Arial Narrow;font-size:11pt;' >As of </font><font style='font-family:Arial Narrow;font-size:11pt;' >December 31, 2017</font><font style='font-family:Arial Narrow;font-size:11pt;' >, the interest rate was </font><font style='font-family:Arial Narrow;font-size:11pt;' >5.09%</font><font style='font-family:Arial Narrow;font-size:11pt;' >. The BCTII trust preferred securities and Bimini Capital&#39;s BCTII Junior Subordinated </font><font style='font-family:Arial Narrow;font-size:11pt;' >Notes require quarterly interest distributions and are redeemable at Bimini Capital&#39;s option, in whole or in part and without penalty. Bimini Capital&#39;s BCTII Junior Subordinated Notes are subordinate and junior in right of payment to all present and future</font><font style='font-family:Arial Narrow;font-size:11pt;' > senior indebtedness. </font></p><p style='text-align:left;line-height:13.8pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:13.8pt;' ><font style='font-family:Arial Narrow;font-size:11pt;margin-left:18pt;' >BCTII is a VIE because the holders of the equity investment at risk do not have adequate decision making ability over BCTII&#8217;s activities. Since Bimini Capital&#39;s investment in BCTII&#39;s common equity securities was financed directly by</font><font style='font-family:Arial Narrow;font-size:11pt;' > 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&#39;s common share investment in BCTII is not a variable interest, Bimini Capital is not the primary be</font><font style='font-family:Arial Narrow;font-size:11pt;' >neficiary 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.</font></p><p style='text-align:left;line-height:13.8pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:13.8pt;' ><font style='font-family:Arial Narrow;font-size:11pt;margin-left:18pt;' >The accompanying consolidated financial statements p</font><font style='font-family:Arial Narrow;font-size:11pt;' >resent Bimini Capital&#39;s BCTII Junior Subordinated Notes issued to BCTII as a liability and Bimini Capital&#39;s investment in the common equity securities of BCTII as an asset (included in other assets). For financial statement purposes, Bimini Capital record</font><font style='font-family:Arial Narrow;font-size:11pt;' >s payments of interest on the Junior Subordinated Notes issued to BCTII as interest expense.</font></p></div>
CY2017Q4 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.0152 pure
CY2016Q4 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.0099 pure
CY2016Q4 us-gaap Securities Sold Under Agreements To Repurchase Fair Value Of Collateral
SecuritiesSoldUnderAgreementsToRepurchaseFairValueOfCollateral
130071000 USD
CY2016Q4 us-gaap Repurchase Agreement Counterparty Amount At Risk
RepurchaseAgreementCounterpartyAmountAtRisk
11700000 USD
CY2017Q4 us-gaap Repurchase Agreement Counterparty Amount At Risk
RepurchaseAgreementCounterpartyAmountAtRisk
8400000 USD
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
4000000 shares
CY2017 bmnm Intercompany Expenses
IntercompanyExpenses
0 USD
CY2016 bmnm Intercompany Expenses
IntercompanyExpenses
0 USD

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