SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

NOTE 17. SEGMENT INFORMATION

The Company’s operations are classified into two principal reportable segments; the asset management segment and the investment portfolio segment.

The asset management segment includes the investment advisory services provided by Bimini Advisors to Orchid and Royal Palm. As discussed in Note 2, the revenues of the asset management segment consist of management fees and overhead reimbursements received pursuant to a management agreement with Orchid. Total revenue received under this management agreement for the years ended December 31, 2019 and 2018, were approximately $6.9 million and $7.8 million, respectively, accounting for approximately 43% and 44% of consolidated revenues, respectively.

The investment portfolio segment includes the investment activities conducted by Royal Palm. The investment portfolio segment receives revenue in the form of interest and dividend income on its investments.

Segment information for the years ended December 31, 2019 and 2018 is as follows:

(in thousands)
	Asset		Investment
	Management		Portfolio		Corporate		Eliminations		Total
2019
Advisory services, external customers	$	6,908	$	-	$	-	$	-	$	6,908
Advisory services, other operating segments(1)		271		-		-		(271)		-
Interest and dividend income		-		9,327		1		-		9,328
Interest expense		-		(4,603)		(1,572)(2)		-		(6,175)
Net revenues		7,179		4,724		(1,571)		(271)		10,061
Other (expense) income		-		112		(715)(3)		-		(603)
Operating expenses(4)		(2,750)		(3,690)		-		-		(6,440)
Intercompany expenses(1)		-		(271)		-		271		-
Income (loss) before income taxes	$	4,429	$	875	$	(2,286)	$	-	$	3,018
Assets	$	1,457	$	263,938	$	14,809	$	-	$	280,204
	Asset		Investment
	Management		Portfolio		Corporate		Eliminations		Total
2018
Advisory services, external customers	$	7,771	$	-	$	-	$	-	$	7,771
Advisory services, other operating segments(1)		251		-		-		(251)		-
Interest and dividend income		-		9,986		2		-		9,988
Interest expense		-		(4,029)		(1,491)(2)		-		(5,520)
Net revenues		8,022		5,957		(1,489)		(251)		12,239
Other (expense) income		-		(12,794)		1,346 (3)		-		(11,448)
Operating expenses(4)		(2,822)		(3,620)		-		-		(6,442)
Intercompany expenses(1)		-		(251)		-		251		-
Income (loss) before income taxes	$	5,200	$	(10,708)	$	(143)	$	-	$	(5,651)
Assets	$	1,488	$	245,866	$	12,046	$	-	$	259,400