2.4.0.8010930 - Disclosure - Repurchase Agreementstruefalsefalse1false falsefalseFROM_Jan01_2013_TO_Jun30_2013http://www.sec.gov/CIK0001275477duration2013-01-01T00:00:002013-06-30T00:00:001true 1us-gaap_DisclosureOfRepurchaseAgreementsAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse0Disclosure of Repurchase Agreements [Abstract]2false 2us-gaap_RepurchaseAgreementsResaleAgreementsSecuritiesBorrowedAndSecuritiesLoanedDisclosureTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalseverboseLabel1falsefalsefalse00NOTE 4. REPURCHASE AGREEMENTS The Company's repurchase agreements typically have maturities of less than six months at inception, with some having longer terms.  Should a counterparty decide not to renew a repurchase agreement at maturity, the Company must either refinance with another lender or be in a position to satisfy the obligation. If, during the term of a repurchase agreement, a lender should file 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.  As of June 30, 2013, the Company had outstanding repurchase agreement obligations of approximately $346.2 million with a net weighted average borrowing rate of 0.39%. These agreements were collateralized by MBS with a fair value, including accrued interest, of approximately $357.2 million, and approximately $6.6 million of cash posted as collateral with the counterparties. As of December 31, 2012, the Company had outstanding repurchase agreement obligations of approximately $150.3 million with a net weighted average borrowing rate of 0.49%. These agreements were collateralized by MBS with a fair value of approximately $158.8 million and $0.6 million of cash posted as collateral with the counterparties. As of June 30, 2013 and December 31, 2012, the Company's repurchase agreements had remaining maturities as summarized below:<div><table style="border-collapse:collapse;margin-top:20px;"><tr style="height: 17px"><td colspan="2" style="width: 295px; border-bottom-style:solid;border-bottom-width:2px;text-align:left;border-color:#000000;min-width:295px;">(in thousands)</td><td style="width: 10px; border-bottom-style:solid;border-bottom-width:2px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 74px; border-bottom-style:solid;border-bottom-width:2px;text-align:left;border-color:#000000;min-width:74px;"> </td><td style="width: 10px; border-bottom-style:solid;border-bottom-width:2px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 74px; border-bottom-style:solid;border-bottom-width:2px;text-align:left;border-color:#000000;min-width:74px;"> </td><td style="width: 10px; border-bottom-style:solid;border-bottom-width:2px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 74px; border-bottom-style:solid;border-bottom-width:2px;text-align:left;border-color:#000000;min-width:74px;"> </td><td style="width: 10px; border-bottom-style:solid;border-bottom-width:2px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 74px; border-bottom-style:solid;border-bottom-width:2px;text-align:left;border-color:#000000;min-width:74px;"> </td><td style="width: 10px; border-bottom-style:solid;border-bottom-width:2px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 64px; border-bottom-style:solid;border-bottom-width:2px;text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 17px"><td style="width: 15px; border-top-style:solid;border-top-width:2px;text-align:left;border-color:#000000;min-width:15px;"> </td><td style="width: 280px; border-top-style:solid;border-top-width:2px;text-align:left;border-color:#000000;min-width:280px;"> </td><td colspan="2" style="width: 84px; border-top-style:solid;border-top-width:2px;text-align:center;border-color:#000000;min-width:84px;">OVERNIGHT</td><td colspan="2" style="width: 84px; border-top-style:solid;border-top-width:2px;text-align:center;border-color:#000000;min-width:84px;">BETWEEN 2</td><td colspan="2" style="width: 84px; border-top-style:solid;border-top-width:2px;text-align:center;border-color:#000000;min-width:84px;">BETWEEN 31</td><td style="width: 10px; border-top-style:solid;border-top-width:2px;text-align:center;border-color:#000000;min-width:10px;"> </td><td style="width: 74px; border-top-style:solid;border-top-width:2px;text-align:center;border-color:#000000;min-width:74px;">GREATER </td><td style="width: 10px; border-top-style:solid;border-top-width:2px;text-align:center;border-color:#000000;min-width:10px;"> </td><td style="width: 64px; border-top-style:solid;border-top-width:2px;text-align:center;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 17px"><td style="width: 15px; text-align:left;border-color:#000000;min-width:15px;"> </td><td style="width: 280px; text-align:left;border-color:#000000;min-width:280px;"> </td><td colspan="2" style="width: 84px; text-align:center;border-color:#000000;min-width:84px;">(1 DAY OR</td><td colspan="2" style="width: 84px; text-align:center;border-color:#000000;min-width:84px;">AND</td><td colspan="2" style="width: 84px; text-align:center;border-color:#000000;min-width:84px;">AND</td><td style="width: 10px; text-align:center;border-color:#000000;min-width:10px;"> </td><td style="width: 74px; text-align:center;border-color:#000000;min-width:74px;">THAN</td><td style="width: 10px; text-align:center;border-color:#000000;min-width:10px;"> </td><td style="width: 64px; text-align:center;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 17px"><td style="width: 15px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:15px;"> </td><td style="width: 280px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:280px;"> </td><td colspan="2" style="width: 84px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:84px;">LESS)</td><td colspan="2" style="width: 84px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:84px;">30 DAYS</td><td colspan="2" style="width: 84px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:84px;">90 DAYS</td><td style="width: 10px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:10px;"> </td><td style="width: 74px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:74px;">90 DAYS</td><td style="width: 10px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:10px;"> </td><td style="width: 64px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:64px;">TOTAL</td></tr><tr style="height: 17px"><td colspan="2" style="width: 295px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:295px;">June 30, 2013</td><td style="width: 10px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 74px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:74px;"> </td><td style="width: 10px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 74px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:74px;"> </td><td style="width: 10px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 74px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:74px;"> </td><td style="width: 10px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 74px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:74px;"> </td><td style="width: 10px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 64px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 17px"><td colspan="2" style="width: 295px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:295px;">Fair value of securities pledged, including accrued</td><td style="width: 10px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 74px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:74px;"> </td><td style="width: 10px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 74px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:74px;"> </td><td style="width: 10px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 74px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:74px;"> </td><td style="width: 10px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 74px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:74px;"> </td><td style="width: 10px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 64px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 17px"><td style="width: 15px; text-align:left;border-color:#000000;min-width:15px;"> </td><td style="width: 280px; text-align:left;border-color:#000000;min-width:280px;">interest receivable</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 74px; text-align:right;border-color:#000000;min-width:74px;"> 5,172</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 74px; text-align:right;border-color:#000000;min-width:74px;"> 294,366</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 74px; text-align:right;border-color:#000000;min-width:74px;"> 57,661</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 74px; text-align:right;border-color:#000000;min-width:74px;"> -</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 64px; text-align:right;border-color:#000000;min-width:64px;"> 357,199</td></tr><tr style="height: 17px"><td colspan="2" style="width: 295px; text-align:left;border-color:#000000;min-width:295px;">Repurchase agreement liabilities associated with</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 74px; text-align:right;border-color:#000000;min-width:74px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 74px; text-align:left;border-color:#000000;min-width:74px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 74px; text-align:left;border-color:#000000;min-width:74px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 74px; text-align:left;border-color:#000000;min-width:74px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 17px"><td style="width: 15px; text-align:left;border-color:#000000;min-width:15px;"> </td><td style="width: 280px; text-align:left;border-color:#000000;min-width:280px;">these securities</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 74px; text-align:right;border-color:#000000;min-width:74px;"> 4,966</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 74px; text-align:right;border-color:#000000;min-width:74px;"> 284,518</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 74px; text-align:right;border-color:#000000;min-width:74px;"> 56,713</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 74px; text-align:right;border-color:#000000;min-width:74px;"> -</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 64px; text-align:right;border-color:#000000;min-width:64px;"> 346,197</td></tr><tr style="height: 17px"><td colspan="2" style="width: 295px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:295px;">Net weighted average borrowing rate</td><td style="width: 10px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 74px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:74px;">0.38%</td><td style="width: 10px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 74px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:74px;">0.38%</td><td style="width: 10px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 74px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:74px;">0.39%</td><td style="width: 10px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 74px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:74px;">- </td><td style="width: 10px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 64px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:64px;">0.39%</td></tr><tr style="height: 17px"><td colspan="2" style="width: 295px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:295px;">December 31, 2012</td><td style="width: 10px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 74px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:74px;"> </td><td style="width: 10px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 74px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:74px;"> </td><td style="width: 10px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 74px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:74px;"> </td><td style="width: 10px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 74px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:74px;"> </td><td style="width: 10px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 64px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 17px"><td colspan="2" style="width: 295px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:295px;">Fair value of securities pledged, including accrued</td><td style="width: 10px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 74px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:74px;"> </td><td style="width: 10px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 74px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:74px;"> </td><td style="width: 10px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 74px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:74px;"> </td><td style="width: 10px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 74px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:74px;"> </td><td style="width: 10px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 64px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 17px"><td style="width: 15px; text-align:left;border-color:#000000;min-width:15px;"> </td><td style="width: 280px; text-align:left;border-color:#000000;min-width:280px;">interest receivable</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 74px; text-align:right;border-color:#000000;min-width:74px;"> -</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 74px; text-align:right;border-color:#000000;min-width:74px;"> 158,765</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 74px; text-align:right;border-color:#000000;min-width:74px;"> -</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 74px; text-align:right;border-color:#000000;min-width:74px;"> -</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 64px; text-align:right;border-color:#000000;min-width:64px;"> 158,765</td></tr><tr style="height: 17px"><td colspan="2" style="width: 295px; text-align:left;border-color:#000000;min-width:295px;">Repurchase agreement liabilities associated with</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 74px; text-align:right;border-color:#000000;min-width:74px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 74px; text-align:right;border-color:#000000;min-width:74px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 74px; text-align:right;border-color:#000000;min-width:74px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 74px; text-align:right;border-color:#000000;min-width:74px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 17px"><td style="width: 15px; text-align:left;border-color:#000000;min-width:15px;"> </td><td style="width: 280px; text-align:left;border-color:#000000;min-width:280px;">these securities</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 74px; text-align:right;border-color:#000000;min-width:74px;"> -</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 74px; text-align:right;border-color:#000000;min-width:74px;"> 150,294</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 74px; text-align:right;border-color:#000000;min-width:74px;"> -</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 74px; text-align:right;border-color:#000000;min-width:74px;"> -</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 64px; text-align:right;border-color:#000000;min-width:64px;"> 150,294</td></tr><tr style="height: 17px"><td colspan="2" style="width: 295px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:295px;">Net weighted average borrowing rate</td><td style="width: 10px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 74px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:74px;">- </td><td style="width: 10px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 74px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:74px;">0.49%</td><td style="width: 10px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 74px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:74px;">- </td><td style="width: 10px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 74px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:74px;">- </td><td style="width: 10px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 64px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:64px;">0.49%</td></tr></table></div>As of June 30, 2013, the outstanding repurchase obligations of the consolidated VIE included in the table above was $308.7 million. If, during the term of a repurchase agreement, a lender should file 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. At June 30, 2013 and December 31, 2012, the Company had a maximum amount at risk (the difference between the amount loaned to the Company, including interest payable, and the fair value of securities pledged, including accrued interest on such securities and the cash posted by the Company as collateral) of approximately $17.6 million and approximately $9.0 million, respectively. Summary information regarding amounts at risk with individual counterparties greater than 10% of equity at June 30, 2013 and December 31, 2012 is as follows:<div><table style="border-collapse:collapse;margin-top:20px;"><tr style="height: 17px"><td colspan="2" style="width: 330px; border-bottom-style:solid;border-bottom-width:2px;text-align:left;border-color:#000000;min-width:330px;">(in thousands)</td><td style="width: 10px; border-bottom-style:solid;border-bottom-width:2px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 130px; border-bottom-style:solid;border-bottom-width:2px;text-align:left;border-color:#000000;min-width:130px;"> </td><td style="width: 250px; border-bottom-style:solid;border-bottom-width:2px;text-align:left;border-color:#000000;min-width:250px;"> </td></tr><tr style="height: 17px"><td style="width: 20px; border-top-style:solid;border-top-width:2px;text-align:left;border-color:#000000;min-width:20px;"> </td><td style="width: 310px; border-top-style:solid;border-top-width:2px;text-align:left;border-color:#000000;min-width:310px;"> </td><td style="width: 10px; border-top-style:solid;border-top-width:2px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 130px; border-top-style:solid;border-top-width:2px;text-align:center;border-color:#000000;min-width:130px;">Amount</td><td style="width: 250px; border-top-style:solid;border-top-width:2px;text-align:center;border-color:#000000;min-width:250px;">Weighted Average Maturity of Repurchase</td></tr><tr style="height: 17px"><td colspan="2" style="width: 330px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:330px;">Repurchase Agreement Counterparties</td><td style="width: 10px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 130px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:130px;">at Risk(1)</td><td style="width: 250px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:250px;">Agreements in Days</td></tr><tr style="height: 17px"><td colspan="2" style="width: 330px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:330px;">June 30, 2013</td><td style="width: 10px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 130px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:130px;"> </td><td style="width: 250px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:250px;"> </td></tr><tr style="height: 17px"><td style="width: 20px; text-align:left;border-color:#000000;min-width:20px;"> </td><td style="width: 310px; text-align:left;border-color:#000000;min-width:310px;">Citigroup Global Markets, Inc.</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 130px; text-align:right;border-color:#000000;min-width:130px;"> 6,259</td><td style="width: 250px; text-align:center;border-color:#000000;min-width:250px;"> 28</td></tr><tr style="height: 17px"><td style="width: 20px; text-align:left;border-color:#000000;min-width:20px;"> </td><td style="width: 310px; text-align:left;border-color:#000000;min-width:310px;">CRT Capital Group LLC</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 130px; text-align:right;border-color:#000000;min-width:130px;"> 3,695</td><td style="width: 250px; text-align:center;border-color:#000000;min-width:250px;"> 23</td></tr><tr style="height: 17px"><td colspan="2" style="width: 330px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:330px;">December 31, 2012</td><td style="width: 10px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 130px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:130px;"> </td><td style="width: 250px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:250px;"> </td></tr><tr style="height: 17px"><td style="width: 20px; text-align:left;border-color:#000000;min-width:20px;"> </td><td style="width: 310px; text-align:left;border-color:#000000;min-width:310px;">Citigroup Global Markets, Inc.</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 130px; text-align:right;border-color:#000000;min-width:130px;"> 3,714</td><td style="width: 250px; text-align:center;border-color:#000000;min-width:250px;"> 18</td></tr><tr style="height: 17px"><td style="width: 20px; text-align:left;border-color:#000000;min-width:20px;"> </td><td style="width: 310px; text-align:left;border-color:#000000;min-width:310px;">South Street Securities, LLC</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 130px; text-align:right;border-color:#000000;min-width:130px;"> 1,802</td><td style="width: 250px; text-align:center;border-color:#000000;min-width:250px;"> 7</td></tr><tr style="height: 17px"><td style="width: 20px; text-align:left;border-color:#000000;min-width:20px;"> </td><td style="width: 310px; text-align:left;border-color:#000000;min-width:310px;">SunTrust Robinson Humphrey, Inc.</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 130px; text-align:right;border-color:#000000;min-width:130px;"> 1,123</td><td style="width: 250px; text-align:center;border-color:#000000;min-width:250px;"> 7</td></tr><tr style="height: 17px"><td style="width: 20px; text-align:left;border-color:#000000;min-width:20px;"> </td><td style="width: 310px; text-align:left;border-color:#000000;min-width:310px;">The PrinceRidge Group, LLC</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 130px; text-align:right;border-color:#000000;min-width:130px;"> 979</td><td style="width: 250px; text-align:center;border-color:#000000;min-width:250px;"> 15</td></tr><tr style="height: 17px"><td style="width: 20px; text-align:left;border-color:#000000;min-width:20px;"> </td><td style="width: 310px; text-align:left;border-color:#000000;min-width:310px;">KGS - Alpha Capital Markets, L.P.</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 130px; text-align:right;border-color:#000000;min-width:130px;"> 843</td><td style="width: 250px; text-align:center;border-color:#000000;min-width:250px;"> 21</td></tr><tr style="height: 17px"><td style="width: 20px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:20px;"> </td><td style="width: 310px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:310px;">Cantor Fitzgerald & Co.</td><td style="width: 10px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 130px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:130px;"> 541</td><td style="width: 250px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:250px;"> 4</td></tr></table></div>At June 30, 2013, Bimini Capital had a maximum amount at risk (the difference between the amount loaned to Bimini Capital, including interest payable, and the fair value of securities pledged, including accrued interest on such securities and cash posted by the Company as collateral) of approximately $1.8 million. Summary information regarding amounts at risk with individual counterparties greater than 10% of stockholders' equity attributable to Bimini Capital equity at June 30, 2013 is as follows:<div><table style="border-collapse:collapse;margin-top:20px;"><tr style="height: 17px"><td colspan="2" style="width: 330px; border-bottom-style:solid;border-bottom-width:2px;text-align:left;border-color:#000000;min-width:330px;">(in thousands)</td><td style="width: 10px; border-bottom-style:solid;border-bottom-width:2px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 130px; border-bottom-style:solid;border-bottom-width:2px;text-align:left;border-color:#000000;min-width:130px;"> </td><td style="width: 250px; border-bottom-style:solid;border-bottom-width:2px;text-align:left;border-color:#000000;min-width:250px;"> </td></tr><tr style="height: 17px"><td style="width: 20px; border-top-style:solid;border-top-width:2px;text-align:left;border-color:#000000;min-width:20px;"> </td><td style="width: 310px; border-top-style:solid;border-top-width:2px;text-align:left;border-color:#000000;min-width:310px;"> </td><td style="width: 10px; border-top-style:solid;border-top-width:2px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 130px; border-top-style:solid;border-top-width:2px;text-align:center;border-color:#000000;min-width:130px;">Amount</td><td style="width: 250px; border-top-style:solid;border-top-width:2px;text-align:center;border-color:#000000;min-width:250px;">Weighted Average Maturity of Repurchase</td></tr><tr style="height: 17px"><td colspan="2" style="width: 330px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:330px;">Repurchase Agreement Counterparties</td><td style="width: 10px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 130px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:130px;">at Risk(1)</td><td style="width: 250px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:250px;">Agreements in Days</td></tr><tr style="height: 17px"><td colspan="2" style="width: 330px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:330px;">June 30, 2013</td><td style="width: 10px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 130px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:130px;"> </td><td style="width: 250px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:250px;"> </td></tr><tr style="height: 17px"><td style="width: 20px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:20px;"> </td><td style="width: 310px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:310px;">SunTrust Robinson Humphrey, Inc.</td><td style="width: 10px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 130px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:130px;"> 826</td><td style="width: 250px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:250px;"> 19</td></tr><tr style="height: 17px"><td style="width: 20px; text-align:left;border-color:#000000;min-width:20px;"> </td><td style="width: 310px; text-align:left;border-color:#000000;min-width:310px;">The PrinceRidge Group, LLC</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 130px; text-align:right;border-color:#000000;min-width:130px;"> 479</td><td style="width: 250px; text-align:center;border-color:#000000;min-width:250px;"> 17</td></tr><tr style="height: 17px"><td style="width: 20px; text-align:left;border-color:#000000;min-width:20px;"> </td><td style="width: 310px; text-align:left;border-color:#000000;min-width:310px;">Pierpont Securities, LLC</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 130px; text-align:right;border-color:#000000;min-width:130px;"> 322</td><td style="width: 250px; text-align:center;border-color:#000000;min-width:250px;"> 24</td></tr><tr style="height: 17px"><td style="width: 20px; text-align:left;border-color:#000000;min-width:20px;"> </td><td style="width: 310px; text-align:left;border-color:#000000;min-width:310px;">South Street Securities, LLC</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 130px; text-align:right;border-color:#000000;min-width:130px;"> 152</td><td style="width: 250px; text-align:center;border-color:#000000;min-width:250px;"> 24</td></tr><tr style="height: 3px"><td style="width: 20px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:20px;"> </td><td style="width: 310px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:310px;"> </td><td style="width: 10px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 130px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:130px;"> </td><td style="width: 250px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:250px;"> </td></tr></table></div><ul><li style="margin-left:36px;list-style:decimal;">Equal to the fair value of securities sold, cash posted as collateral and accrued interest receivable, minus the sum of repurchase agreement liabilities and accrued interest payable.</li></ul>falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for repurchase agreements (also known as repos), resale agreements (also known as reverse repurchase agreements or reverse repos), securities borrowed transactions, and securities loaned transactions.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph m -Article 4 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=7523297&loc=d3e113969-111729 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(m)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 140 -Paragraph 17 -Subparagraph a -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. false0Repurchase AgreementsfalseRepurchase AgreementsUnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://www.biminicapital.com/role/DisclosureRepurchaseAgreements12