Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit) [TableTextBlock]

(in thousands)
		2015		2014
Current	$	482	$	22
Deferred		(62,932)		(1,900)
Income tax benefit	$	(62,450)	$	(1,878)

Schedule of Effective Income Tax Rate Reconciliation [TableTextBlock]

(in thousands)
		2015		2014
Federal tax based on statutory rate	$	(1,094)	$	9,798
State income tax		(194)		1,120
Benefit of REIT exemption		-		(779)
Income attributable to non-controlling interest		-		(8,629)
Adjustment to record beginning deferred taxes due to change to taxable status		(9,187)		-
Reduction of deferred tax asset valuation allowance		(52,135)		(3,410)
Other		160		22
Income tax benefit	$	(62,450)	$	(1,878)

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

(in thousands)
			2015		2014
Deferred tax assets:
	Net operating loss carryforwards	$	99,106	$	94,440
	Tax hedges		591		-
	Orchid Island Capital, Inc. common stock		3,787		-
	Accrued expenses		528		1,077
	Management agreement		1,267		1,251
	Other		377		145
			105,656		96,913
Valuation allowance			(40,824)		(95,013)
Net deferred tax assets		$	64,832	$	1,900