---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-013940"
form_type: "8-K"
ticker: "BMNM"
cik: "0001275477"
company_name: "BIMINI CAPITAL MANAGEMENT, INC."
filed_at: "2023-05-11T23:59:59+00:00"
generated_at: "2026-06-15T03:40:25.663600+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Bimini Capital Q1 net income $1.0M ($0.10/sh); book value $1.31, up from $1.21

## Summary
- Net income $1.0M ($0.10 diluted EPS) vs net loss $3.5M ($0.33 loss) in Q1 2022.
- Book value per share $1.31, up from $1.21 at Dec 31, 2022.
- Advisory service revenue $3.4M (+10% YoY); from managing Orchid Island Capital.
- MBS portfolio $45.6M; return on invested capital 4.9% for Q1.
- Interest rate spread narrowed to 0.19% from 3.18% YoY due to rate volatility and bank failures.

## SEC filing metadata
- accession: 0001437749-23-013940
- form_type: 8-K
- ticker: BMNM
- cik: 0001275477
- company_name: BIMINI CAPITAL MANAGEMENT, INC.
- filed_at: 2023-05-11T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1275477/000143774923013940/0001437749-23-013940-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1275477/000143774923013940/bcmi20230325_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-013940
- JSON: https://secwatch.observer/filing/0001437749-23-013940.json
- Plain text: https://secwatch.observer/filing/0001437749-23-013940.txt

## Key facts
- Earnings Releases
  BIMINI CAPITAL MANAGEMENT, INC. reported the three-month period ended March 31, 2023 results: revenue $3.4 million, net income $1.0 million, EPS $0.10 per common share.
  - Period: the three-month period ended March 31, 2023
  - Revenue: $3.4 million
  - Net income: $1.0 million
  - EPS: $0.10 per common share
  - Result: reported results
  source text: in a $0.1 million dollar gain. Orchid’s dividend was unchanged for the quarter. Finally, advisory service revenues related to Bimini Advisors management of Orchid Island were $3.4 million in the first quarter of 2023 compared to $3.3 million in the fourth quarter of 2022. “With respect to the MBS portfolio at Royal Palm, as was the case throughout most of the year
  evidence_url: https://www.sec.gov/Archives/edgar/data/1275477/000143774923013940/0001437749-23-013940-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.