Note 6 - Pledged Assets (Tables)

6 Months Ended

Jun. 30, 2025

Notes Tables

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

(in thousands)
	June 30, 2025						December 31, 2024
	Repurchase		Derivative				Repurchase		Derivative
Assets Pledged to Counterparties	Agreements		Agreements		Total		Agreements		Agreements		Total
PT RMBS - fair value	$	6,928,832	$	-	$	6,928,832	$	5,193,570	$	-	$	5,193,570
Structured RMBS - fair value		14,798		-		14,798		15,498		-		15,498
U.S. Treasury securities		-		123,187		123,187		-		100,551		100,551
Accrued interest on pledged securities		31,754		13		31,767		22,852		-		22,852
Restricted cash		7,916		7,656		15,572		22,818		2,905		25,723
Total	$	6,983,300	$	130,856	$	7,114,156	$	5,254,738	$	103,456	$	5,358,194

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

(in thousands)
	June 30, 2025						December 31, 2024
	Repurchase		Derivative				Repurchase		Derivative
Assets Pledged to Orchid	Agreements		Agreements		Total		Agreements		Agreements		Total
Cash	$	35,492	$	3,100	$	38,592	$	4,465	$	4,282	$	8,747
U.S. Treasury securities - fair value		6,748		-		6,748		4,146		-		4,146
Total	$	42,240	$	3,100	$	45,340	$	8,611	$	4,282	$	12,893