Note 6 - Pledged Assets (Tables)

3 Months Ended

Mar. 31, 2025

Notes Tables

Schedule of Financial Instruments Owned and Pledged as Collateral [Table Text Block]

(in thousands)
	March 31, 2025						December 31, 2024
	Repurchase		Derivative				Repurchase		Derivative
Assets Pledged to Counterparties	Agreements		Agreements		Total		Agreements		Agreements		Total
PT RMBS - fair value	$	6,677,907	$	-	$	6,677,907	$	5,193,570	$	-	$	5,193,570
Structured RMBS - fair value		15,084		-		15,084		15,498		-		15,498
U.S. Treasury securities		-		120,581		120,581		-		100,551		100,551
Accrued interest on pledged securities		30,163		1,163		31,326		22,852		-		22,852
Restricted cash		2,812		891		3,703		22,818		2,905		25,723
Total	$	6,725,966	$	122,635	$	6,848,601	$	5,254,738	$	103,456	$	5,358,194

Schedule of Financial Instruments Pledged as Collateral From Counterparties [Table Text Block]

(in thousands)
	March 31, 2025						December 31, 2024
	Repurchase		Derivative				Repurchase		Derivative
Assets Pledged to Orchid	Agreements		Agreements		Total		Agreements		Agreements		Total
Cash	$	8,864	$	1,403	$	10,267	$	4,465	$	4,282	$	8,747
U.S. Treasury securities - fair value		3,223		-		3,223		4,146		-		4,146
Total	$	12,087	$	1,403	$	13,490	$	8,611	$	4,282	$	12,893