Variable Interest Entities (Tables)

6 Months Ended

Jun. 30, 2013

Variable Interest Entity Noncontrolling Interest [Abstract]

Changes In Equity From Noncontrolling Interests [Table Text Block]

The table below presents the effects of the above on the changes in equity attributable to Bimini Capital stockholders during the six months ended June 30, 2013.

(in thousands)
Net loss attributable to Bimini Capital		$	(2,570)
Transfers from the noncontrolling interests
	Increase in Bimini Capital's paid-in capital for sale of 2,360,000 common shares of Orchid		278
Change from net loss attributable to Bimini Capital and transfers from noncontrolling interest		$	(2,292)

Rollforward Of Noncontrolling Interest [Table Text Block]

The following is a rollforward of the noncontrolling interest during the six months ended June 30, 2013.

(in thousands)
Balance, January 1, 2013	$	-
Issuance of common shares of Orchid Island Capital, Inc.		35,122
Net income attributed to noncontrolling interest		(531)
Cash dividend paid to noncontrolling interest		(1,275)
Balance, June 30, 2013	$	33,316

Variable Interest Entity Balance Sheet [Table Text Block]

The following table presents the assets and liabilities of Orchid that are reflected on our consolidated balance sheets at June 30, 2013 (excluding intercompany balances).

(in thousands)
ASSETS:
Mortgage-backed securities, at fair value
	Pledged to counterparties	$	317,310
	Unpledged		21,838
Total mortgage-backed securities			339,148
Cash and cash equivalents			6,318
Restricted cash			8,906
Accrued interest receivable			1,384
Prepaid expenses and other assets			392
Total Assets		$	356,148
LIABILITIES:
Repurchase agreements		$	308,735
Accrued interest payable			56
Accounts payable, accrued expenses and other			109
Total Liabilities		$	308,900

Variable Interest Entity Income Statement [Table Text Block]

The following table summarizes the operating results of Orchid (excluding intercompany transactions, including approximately $275,000 of management fees charged to Orchid) for the period beginning February 20, 2013 (the date of its IPO) through June 30, 2013 which are reflected in our consolidated statement of operations for the six and three months ended June 30, 2013.

		Six Months Ended		Three Months Ended
(in thousands)		June 30, 2013		June 30, 2013
Interest income	$	3,460	$	2,429
Interest expense		(459)		(322)
Net interest income		3,001		2,107
Unrealized losses on mortgage-backed securities		(8,618)		(9,130)
Realized losses on mortgage-backed securities		(824)		(923)
Gains on Eurodollar futures		6,368		6,852
Net portfolio deficiency		(73)		(1,094)
Expenses:
Directors' fees and liability insurance		124		83
Audit, legal and other professional fees		152		106
Direct REIT operating expenses		74		36
Other administrative		53		41
Total expenses		403		266
Net loss	$	(476)	$	(1,360)