7Baggers

Orchid Island Capital, Inc
(NYSE:ORC) 

ORC stock logo

Orchid Island Capital, Inc., a specialty finance company, invests in residential mortgage-backed securities (RMBS) in the United States. The company's RMBS is backed by single-family residential mortgage loans, referred as Agency RMBS. Its portfolio includes traditional pass-through Agency RMBS, suc...

Sector: Real Estate
Industry: REIT-Mortgage
REIT
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At a glance:
Bull Thesis:
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Income Statements:
Quarterly
Annual
    Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2020-12-31 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-12-31 2017-09-30 2017-06-30 2017-03-31 2016-12-31 2016-09-30 2016-06-30 2016-03-31 2015-12-31 2015-09-30 2015-06-30 2015-03-31 2014-12-31 2014-09-30 2014-06-30 2014-03-31 2013-12-31 2013-09-30 2013-06-30 2013-03-31 2012-12-31 
                                                  
      interest income
    		157,838,000 132,188,000 108,434,000 92,289,000 81,090,000 71,996,000 67,646,000 53,064,000 48,871,000 49,539,000 50,107,000 39,911,000 38,012,000   27,258,000 35,671,000 37,529,000 35,907,000 36,455,000 32,433,000 37,001,000 39,054,000 38,590,000 39,935,000 40,098,000 38,974,000 34,579,000 32,311,000 25,068,000 22,358,000 19,235,000 20,466,000 19,092,000 18,352,000 16,753,000 14,614,000 12,146,344 9,285,729 6,589,305 3,782,622 2,805,702 2,551,199 2,428,699 1,413,258  
      interest expense
    		-100,775,000 -93,705,000 -81,515,000 -69,135,000 -61,377,000 -63,853,000 -67,306,000 -53,761,000 -51,361,000 -52,325,000 -58,705,000 -48,671,000 -42,217,000   -4,479,000 -16,523,000 -20,022,000 -22,321,000 -22,431,000 -18,892,000 -19,740,000 -18,893,000 -16,579,000 -15,149,000 -13,555,000 -12,638,000 -8,763,000 -6,715,000 -4,975,000 -3,979,000 -3,330,000 -3,319,000 -2,371,000 -2,037,000 -1,567,000 -1,296,000 -1,126,106 -818,383 -675,668 -410,843 -308,985 -293,913 -321,886 -201,420  
      net interest income
    		57,063,000 38,483,000 26,919,000 23,154,000 19,713,000 8,143,000 340,000   -2,786,000 -8,598,000 -8,760,000 -4,205,000   22,779,000 19,148,000 17,507,000 13,586,000 14,024,000 13,541,000 17,261,000 20,161,000 22,011,000 24,786,000 26,543,000 26,336,000 25,816,000 25,596,000 20,093,000 18,379,000 15,905,000 17,147,000 16,721,000 16,315,000 15,186,000 13,318,000 11,020,238 8,467,346 5,913,637 3,371,779 2,496,717 2,257,286 2,106,813 1,211,838  
      realized gains on mortgage-backed securities
    		39,000 -2,322,000    127,500 510,000         3,360,000 -28,380,000   112,000 243,000 -6,939,000 -2,837,000 -12,175,000  -11,142,000 769,000 3,935,000 -1,350,000 -1,411,000 229,000 10,000 4,242,000 -338,000 850,000 -1,891,000 -32,000 859,383 -1,959,822 2,980,121 911,318 -372,678 -667,182 -923,454 99,925  
      unrealized gains on mortgage-backed securities
    		-115,968,000 36,626,000 59,372,000             34,240,000 3,032,000 -1,210,000 -5,292,000 26,506,000 18,041,000     -8,900,250 -3,553,000 -17,090,000 -14,958,000 -59,801,000 -2,398,000 4,262,000 3,787,000 -19,245,000 -2,026,000 -13,324,000 6,320,000 2,648,156 -1,404,122 8,583,978 1,539,988 -2,268,178 86,070  -29,160  
      gains on derivative and other hedging instruments
    		46,308,000   -53,286,000 -74,659,000 -6,714,500 -140,825,000 26,068,000 87,899,000 48,563,250 142,042,000 93,367,000 -41,156,000                                  
      net portfolio income
    		-12,558,000 109,225,000 77,519,000 -28,582,000 21,348,000 9,902,000 21,589,000 -599,000 23,514,000   15,068,000 8,534,000   51,528,000 -89,058,000 21,347,000 -5,845,000 6,354,000 12,793,000 -23,446,000 11,000 4,277,000 -13,270,000 -2,997,000 18,082,000 -6,781,000 4,869,000 -17,912,000 22,797,000 8,597,000 -2,411,000 9,908,000 -7,367,000 -831,000 7,255,000 4,966,614 8,161,053 11,749,540 4,129,793 1,861,791 -595,701 -1,094,675 798,678  
      expenses:
    		                                              
      management fees
    		3,988,000 3,700,000 3,294,000 2,982,000 2,747,000 2,487,000 2,449,000 2,257,000 2,161,000 2,275,000 2,870,000 2,704,000 2,642,000   1,268,000 1,377,000 1,477,000 1,440,000 1,326,000 1,285,000 1,404,000 1,482,000 1,606,000 1,712,000 1,625,000 1,528,000 1,400,000 1,302,000 1,220,000 1,052,000 945,000 971,000 1,049,000 1,061,000 1,014,000 855,000 737,500 543,000 429,700 302,800 174,400 179,500 185,100 125,100  
      allocated overhead
    		786,000 705,000 887,000 582,000 608,000 677,000 637,000 732,000 598,000 617,000 557,000 639,000 576,000   348,000 347,000 379,000 351,000 327,000 323,000 434,000 391,000 361,000 382,000 408,000 412,000 388,000 368,000 337,000 336,000 329,000 298,000              
      incentive compensation
    		1,415,000 208,000 221,000 228,000 -207,000 253,000 269,000 290,000 -89,000 309,000 322,000 318,000 470,000                                  
      directors' fees and liability insurance
    		312,000 334,000 334,000 334,000 338,000 343,000 343,000 343,000 329,000 336,000 345,000 318,000 323,000   248,000 260,000 248,000 260,000 237,000 253,000 234,000 234,000 248,000 252,000 227,000 215,000 232,000 276,000 244,000 236,000 245,000 282,000 251,000 250,000 234,000 248,000 164,073 164,641 156,034 84,251 82,923 82,924 82,924 41,462  
      audit, legal and other professional fees
    		312,000 285,000 300,000 360,000 393,000 276,000 269,000 320,000 476,000 295,000 301,000 448,000 451,000   346,000 255,000 219,000 221,000 364,000 301,000 219,000 170,000 167,000 296,000 159,000 157,000 219,000 170,000 217,000 193,000 215,000 247,000 213,000 160,000 173,000 160,000 182,303 160,260 172,427 73,011 98,563 70,949 106,338 144,150  
      direct reit operating expenses
    		472,000 425,000 309,000 247,000 227,000 223,000 216,000 178,000 170,000 184,000 193,000 173,000 165,000   240,000 206,000 207,000 130,000 285,000 375,000 397,000 424,000 407,000 403,000 308,000 320,000 265,000 231,000 226,000 187,000 99,000 139,000 67,000 86,000 46,000 42,000 57,642 35,973 43,565 44,820 30,812 36,550 36,243 64,384  
      other administrative
    		112,000 160,000 96,000 263,000 120,000 98,000 86,000 260,000 93,000 48,000 56,000 219,000 377,000   145,000 132,000 37,000 57,000 100,000 67,000 67,000 72,000 141,000 51,000 57,000 58,000 140,000 61,000 54,000 55,000 87,000 72,000 -707,000 331,000 377,000 276,000 254,787 263,693 87,873 29,647 30,198 31,483 40,872 23,224  
      total expenses
    		7,397,000 5,817,000 5,441,000 4,996,000 4,226,000 4,357,000 4,269,000 4,380,000 3,738,000 4,064,000 4,644,000 4,819,000 5,004,000   2,756,000 2,141,000 2,735,000 2,632,000 2,821,000 2,196,000 2,953,000 2,970,000 2,931,000 3,107,000 2,985,000 2,899,000 2,862,000 2,420,000 2,506,000 2,271,000 2,134,000 2,180,000 2,099,000 2,050,000 2,001,000 1,746,000 1,446,305 1,392,567 1,114,599 534,529 416,896 401,406 451,477 398,320  
      net income
    		-19,955,000 103,408,000 72,078,000 -33,578,000 17,122,000 5,545,000 17,320,000 -4,979,000 19,776,000 27,127,000 -80,132,000 10,249,000 3,530,000   48,772,000 -91,199,000 18,612,000 -8,477,000 3,533,000 10,597,000 -26,399,000 -2,959,000 1,346,000 -16,377,000 -5,982,000 15,183,000 -9,643,000 2,449,000 -20,418,000 20,526,000 6,463,000 -4,591,000 7,809,000 -9,417,000 -2,832,000 5,509,000 3,520,309 6,768,486 10,634,941 3,595,264 1,444,895 -997,107 -1,546,152 400,358  
      yoy
    		-216.55% 1764.89% 316.15% 574.39% -13.42% -79.56% -121.61% -148.58% 460.23%   -78.99% -103.87%   1280.47% -960.61% -170.50% 186.48% 162.48% -164.71% 341.31% -119.49% -113.96% -768.72% -70.70% -26.03% -249.20% -153.34% -361.47% -317.97% -328.21% -183.34% 121.83% -239.13% -126.63% 53.23% 143.64% -778.81% -787.83% 798.01%      
      qoq
    		-119.30% 43.47% -314.66% -296.11% 208.78% -67.98% -447.86% -125.18% -27.10% -133.85% -881.85% 190.34%    -153.48% -590.00% -319.56% -339.94% -66.66% -140.14% 792.16% -319.84% -108.22% 173.77% -139.40% -257.45% -493.75% -111.99% -199.47% 217.59% -240.78% -158.79% -182.92% 232.52% -151.41% 56.49% -47.99% -36.36% 195.80% 148.83% -244.91% -35.51% -486.19%   
      unrealized gains on u.s. treasury securities measured at fair value through other comprehensive net income
    		-279,000 -1,000 94,000 -64,000 250,000 84,000 48,000 37,000                                       
      comprehensive net income
    		-20,234,000 103,407,000 72,172,000 -33,642,000 17,372,000 5,629,000 17,368,000 -4,942,000 19,729,000                                      
      basic and diluted net income per share
    		-0.11 0.76 0.53 -0.29 0.18 0.04 0.24 -0.09 0.38   0.25 0.09    -1.41 0.33 -0.14 0.07 0.22 -0.51 -0.06 0.03 -0.31 -0.16 0.33 -0.26 0.07 -0.91 0.85 0.29 -0.21 0.39 -0.42 -0.14 0.33 -0.05 0.63 1.17 0.71 0.51 -0.3 -0.46 0.2  
      weighted-average shares outstanding
    		189,259,574 128,302,423 136,368,958 114,453,216 95,174,719 65,449,149 72,377,373 57,763,857 51,604,135 44,649,039 47,773,409 40,210,844 38,491,767  67,210,815 66,310,219 64,590,205 56,328,027 60,418,985 52,600,758 48,904,587 52,198,175 52,034,695 52,587,472 53,065,845 41,062,039 45,355,124 37,211,362   24,133,343 21,920,573 21,756,065 20,266,706 22,545,019 19,751,871 16,846,950 9,890,058 10,710,153 9,078,107 5,093,554 3,011,912 3,341,665 3,341,665 2,004,332  
      losses on derivative and other hedging instruments
    		 -34,179,250 -8,772,000             -8,851,000                               
      realized losses on mortgage-backed securities
    		   -7,990,000 -1,298,000             -5,742,000 -5,491,000      -8,338,000                      
      unrealized gains on mortgage-backed securities and u.s. treasury securities
    		   9,540,000 77,592,000 18,424,750 161,564,000  -61,895,000                                      
      net interest expense
    		       -697,000 -2,490,000                                      
      unrealized losses on mortgage-backed securities and u.s. treasury securities
    		       -25,970,000  205,635,000 -208,932,000                                    
      unrealized losses on u.s. treasury securities measured at fair value through other comprehensive net income
    		        -47,000                                      
      net portfolio loss
    		         31,191,000 -75,488,000                                    
      unrealized gains on u.s. treasury securities measured at fair value through other comprehensive net loss
    		         1,000 16,000                                    
      comprehensive net loss
    		         27,128,000 -80,116,000                                    
      basic and diluted net loss per share
    		         0.69 -1.68                                    
      dividends declared per common share
    		         0.36 0.48 0.48 0.48   0.165 0.24 0.18 0.24 0.24 0.24 0.208 0.25 0.27 0.31 0.315 0.42 0.42 0.42 0.315 0.42 0.42 0.42 0.375 0.42 0.54 0.54 0.405 0.54 0.54 0.54 0.236 0.405 0.405   
      unrealized losses on mortgage-backed securities and u.s. treasury notes
    		           -69,539,000                                   
      unrealized gains on mortgage-backed securities and u.s. treasury notes
    		            53,895,000                                  
      accrued incentive compensation
    		               161,000 -436,000 168,000 173,000 182,000 -408,000 198,000 197,000 1,000 11,000 201,000 209,000 218,000 12,000 208,000 212,000 214,000 171,000 162,000 162,000 157,000 165,000 50,000 225,000 225,000       
      basic net income per share
    		               0.74                               
      diluted net income per share
    		               0.73                               
      see notes to financial statements
    		                                              
      losses on derivative instruments
    		                -82,858,000           -19,442,000 -4,419,000   -11,591,000 -27,590,000   -802,000 -12,351,000    -1,693,292      
      gains on derivative instruments
    		                 10,792,000 -8,648,000 -34,288,000 -19,032,000 -45,236,000 12,693,000 14,859,000 41,994,000 -7,332,750 -5,470,000   -8,148,500 6,587,000   12,770,000 -22,506,000   -9,561,163 3,057,651 -5,728,196       
      unrealized losses on mortgage-backed securities
    		                     11,468,000 -30,006,000 -20,418,000 -71,712,000                   -9,129,622   
      see notes to consolidated financial statements
    		                                              
      fhlb stock dividends
    		                             3,500  11,000 3,000              
      weighted-average shares outstanding - basic and diluted
    		                            33,069,064 24,099,714                 
      gains on eurodollar futures contracts
    		                                         732,500 -2,271,875 6,851,588   
      losses on eurodollar futures contracts
    		                                            -483,925  
      dividends declared per common share:
    		                                            0.135  
    Balance Sheets:
    Quarterly
    Annual
      Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2020-12-31 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-12-31 2017-09-30 2017-06-30 2017-03-31 2016-12-31 2016-09-30 2016-06-30 2016-03-31 2015-12-31 2015-09-30 2015-06-30 2015-03-31 2014-12-31 2014-09-30 2014-06-30 2014-03-31 2013-12-31 2013-09-30 2013-06-30 2013-03-31 2012-12-31 
                                                    
        assets:
      		                                              
        mortgage-backed securities, at fair value
      		11,338,541,000 10,628,658,000 8,356,080,000 6,993,359,000 6,738,094,000 5,253,310,000 5,442,804,000 4,525,755,000 3,881,078,000 3,894,012,000 4,520,225,000 4,373,972,000 3,999,906,000 3,540,002,000                                 
        u.s. treasury securities, available-for-sale
      		155,095,000 135,133,000 125,440,000 125,151,000 125,543,000 100,551,000 99,467,000 98,099,000 99,496,000 148,820,000 98,326,000                                    
        cash and cash equivalents
      		674,020,000 665,865,000 583,887,000 440,756,000 396,389,000 309,330,000 322,105,000 241,043,000 190,373,000 171,893,000 158,603,000 198,246,000 143,220,000 205,651,000 220,143,000 175,269,000 162,725,000 193,770,000 147,428,000 135,561,000 125,933,000 108,282,000 164,393,000 137,947,000 127,168,000 214,363,000 161,659,000 199,796,000 95,063,000 73,475,000 110,860,000 65,352,000 65,558,000 57,229,000 67,102,000 100,471,000 78,105,000 93,137,000 55,026,519 33,284,745 43,567,673 8,169,402 7,900,956 6,317,577 2,669,966 2,537,257 
        restricted cash
      		86,114,000 58,696,000 33,321,000 15,572,000 3,703,000 25,723,000 11,612,000 15,968,000 13,247,000 28,396,000 119,614,000 51,091,000 42,738,000 31,568,000 79,363,000 60,761,000 38,725,000 84,885,000 54,788,000 45,532,000 16,998,000 17,981,000 30,928,000 31,065,000 36,837,000 32,349,000 19,629,000 19,865,000 17,660,000 20,950,000 16,881,000 18,984,000 17,778,000 12,730,000 11,234,000 23,060,000 8,263,000 7,790,000 7,781,000 3,584,000 4,096,000 2,445,625 2,580,875 8,906,250 2,031,250 449,000 
        accrued interest receivable
      		53,880,000 49,127,000 39,353,000 31,982,000 31,518,000 23,044,000 22,868,000 18,988,000 15,614,000 14,951,000 17,316,000 15,266,000 13,120,000 11,519,000 9,721,000 10,241,000 10,054,000 12,404,000 15,232,000 13,865,000 12,585,000 13,241,000 14,085,000 14,771,000 15,384,000 14,444,000 15,410,000 14,366,000 13,188,000 11,512,000 9,527,000 8,792,000 8,333,000 8,490,000 8,308,000 8,663,000 6,883,000 6,211,000 5,655,306 3,798,455 2,875,420 1,559,437 1,388,496 1,384,699 1,440,407 440,877 
        derivative assets
      		3,008,000 9,253,000 548,000  6,710,000 9,277,000 16,846,000 29,319,000 12,511,000 6,420,000 20,605,000 52,324,000 29,315,000 40,172,000                                 
        reverse repurchase agreements
      		358,740,000 128,613,000              139,738,000                               
        receivable for investment securities and tba transactions
      		597,000    1,466,000  177,000                                        
        other assets
      		1,396,000 648,000 405,000 588,000 861,000 392,000 614,000 733,000 2,343,000 455,000 2,204,000 2,836,000 907,000 442,000 516,000 680,000 755,000 100,000 912,000 348,000 518,000 2,993,000 312,000 445,000 427,000 216,000 475,000 421,000 750,000 218,000 1,100,000 750,000 1,846,000 4,709,000 1,319,000 523,000 725,000 282,000 3,344,623 515,335 292,315      
        total assets
      		12,671,391,000 11,675,993,000 9,139,034,000 7,610,631,000 7,304,284,000 5,721,627,000 5,916,493,000 4,929,905,000 4,214,662,000 4,264,947,000 4,936,893,000 4,730,930,000 4,266,012,000 3,865,736,000 4,058,051,000 3,700,408,000 3,162,392,000 3,882,080,000 4,253,331,000 3,726,826,000 3,257,747,000 3,395,631,000 3,761,096,000 3,908,031,000 4,122,698,000 4,023,343,000 4,144,384,000 3,982,888,000 3,401,108,000 3,138,694,000 2,668,471,000 2,317,135,000 2,203,560,000 2,241,837,000 2,293,130,000 2,307,653,000 1,770,815,000 1,657,808,000 1,500,656,346 918,386,486 800,137,429 363,576,047 385,479,833 356,148,185 366,722,718 118,860,956 
        liabilities and stockholders' equity
      		                                              
        liabilities:
      		                                              
        repurchase agreements
      		10,864,723,000 10,115,466,000 8,006,978,000 6,655,879,000 6,418,641,000 5,025,543,000 5,230,871,000 4,345,704,000 3,711,498,000 3,705,649,000 4,426,947,000 4,201,717,000 3,769,437,000 3,378,445,000 3,595,586,000 3,174,739,000 2,810,250,000 3,448,106,000 3,813,977,000 3,329,527,000 2,866,738,000 3,025,052,000 3,321,803,000 3,449,854,000 3,619,280,000 3,533,786,000 3,710,077,000 3,278,456,000 3,050,608,000 2,793,705,000 2,298,097,000 2,060,827,000 1,939,489,000 1,798,813,000 1,943,299,000 2,014,071,000 1,459,490,000 1,436,651,000 1,255,977,886 783,700,849 651,246,345 318,557,054 301,656,523 308,735,338 316,445,869 103,941,174 
        payable for investment securities and tba transactions
      		 1,519,000   23,000  68,000  395,000 60,454,000                                     
        dividends payable
      		23,629,000 21,865,000 17,815,000 15,214,000 12,960,000 9,940,000 9,396,000 7,805,000 6,365,000 6,222,000 8,398,000 7,049,000 6,279,000 5,908,000 4,970,000 3,642,000 5,299,000 5,045,000 5,046,000 4,343,000 3,995,000 3,931,000 4,163,000 4,683,000 4,776,000 7,429,000 6,343,000 6,342,000 4,799,000 4,616,000                 
        derivative liabilities
      		635,000 1,846,000 2,949,000 4,359,000  332,000  844,000 80,000 12,694,000 2,731,000 12,875,000 19,582,000 7,161,000                                 
        accrued interest payable
      		28,458,000 31,397,000 22,234,000 13,848,000 13,293,000 10,750,000 16,372,000 17,597,000 12,769,000 7,939,000 15,836,000 11,280,000 14,753,000 9,209,000 1,157,000 706,000 3,814,000 11,101,000 11,892,000 10,054,000 5,146,000 6,445,000 4,595,000 7,221,000 7,152,000 6,516,000 4,815,000 2,168,000 1,990,000 1,826,000 1,873,000 1,412,000 895,000 863,000 452,000 599,000 368,000 628,000 387,919 308,339 116,677 91,461 77,697 55,843 64,049 54,084 
        due to affiliates
      		1,788,000 1,661,000 1,498,000 1,349,000 1,349,000 1,167,000 1,177,000 1,086,000 1,007,000 1,013,000 1,252,000 1,241,000 1,229,000 1,131,000 632,000 569,000 520,000 622,000 597,000 554,000 541,000 654,000 622,000 656,000 796,000 797,000 762,000 690,000 828,000 566,000 480,000 444,000 439,000 465,000 419,000 456,000 386,000 330,000 303,358 152,166 132,200 81,925 79,878 73,382   
        obligation to return securities borrowed under reverse repurchase agreements, at fair value
      		359,202,000 128,724,000              139,843,000                               
        other liabilities
      		1,148,000 1,567,000 1,471,000 4,018,000 2,138,000 5,395,000 2,585,000 937,000 917,000 1,031,000 14,888,000 6,683,000 3,371,000 25,119,000 7,188,000 1,712,000 818,000 1,041,000 2,460,000 1,286,000 541,000 17,523,000 36,610,000 34,178,000 26,607,000 10,566,000 5,395,000 657,000 5,038,000 3,220,000 737,000 620,000 443,000 941,000 766,000 755,000 639,000 2,121,000 4,388,200 1,707,589 1,729,799      
        total liabilities
      		11,279,583,000 10,304,045,000 8,052,945,000 6,698,671,000 6,448,404,000 5,053,127,000 5,260,469,000 4,373,973,000 3,733,031,000 3,795,002,000 4,470,052,000 4,240,845,000 3,814,651,000 3,426,973,000 3,642,760,000 3,354,440,000 2,854,248,000 3,486,573,000 3,861,343,000 3,367,168,000 2,917,333,000 3,059,552,000 3,367,793,000 3,498,832,000 3,693,247,000 3,561,132,000 3,729,983,000 3,564,714,000 3,066,896,000 2,805,915,000 2,374,075,000 2,073,452,000 1,963,782,000 1,988,582,000 2,037,261,000 2,023,504,000 1,540,069,000 1,439,730,000 1,327,869,845 792,697,481 692,727,715 318,810,700 340,655,632 308,973,503 316,648,509 104,135,981 
        commitments and contingencies
      		                                              
        stockholders' equity:
      		                                              
        preferred stock, 0.01 par value...
      		                                              
        common stock, 0.01 par value...
      		1,967,000 1,820,000 1,482,000 1,266,000 1,078,000 826,000 781,000 648,000 528,000 516,000 523,000 439,000 391,000 368,000                                 
        additional paid-in capital
      		1,593,398,000 1,553,451,000 1,371,337,000 1,269,596,000 1,180,062,000 1,010,306,000 1,003,504,000 920,913,000 841,790,000 849,845,000 873,862,000 817,074,000 788,647,000 779,602,000 432,524,000 407,855,000 418,803,000 414,998,000 430,091,000 389,372,000 373,705,000 379,975,000 410,771,000 423,709,000 445,297,000 461,680,000 413,948,000 424,914,000 333,869,000 332,449,000 294,133,000 243,459,000 244,151,000 253,038,000 261,896,000 283,919,000 230,567,000 217,419,000 167,585,817 121,185,060 107,323,597 46,115,961 47,619,710 48,973,084 50,326,459 15,409,459 
        accumulated deficit
      		-203,696,000 -183,741,000 -287,149,000 -359,227,000 -325,649,000 -342,771,000 -348,316,000 -365,636,000 -360,657,000 -380,433,000 -407,560,000 -327,428,000 -337,677,000 -341,207,000 -17,994,000 -62,549,000 -111,321,000 -20,122,000 -38,734,000 -30,257,000 -33,790,000                     -1,384,031 -2,828,926 -1,831,819 -285,667 -686,025 
        accumulated other comprehensive income
      		139,000 418,000 419,000 325,000 389,000 139,000 55,000 7,000 -30,000 17,000 16,000                                    
        total stockholders' equity
      		1,391,808,000 1,371,948,000 1,086,089,000 911,960,000 855,880,000 668,500,000 656,024,000 555,932,000 481,631,000 469,945,000 466,841,000 490,085,000 451,361,000 438,763,000 415,291,000 345,968,000 308,144,000 395,507,000 391,988,000 359,658,000 340,414,000 336,079,000 393,303,000 409,199,000 429,451,000 462,211,000 414,401,000 418,174,000 334,212,000 332,779,000 294,396,000 243,683,000 239,778,000 253,255,000 255,869,000 284,149,000 230,746,000 218,078,000 172,786,501 125,689,005 107,409,714 44,765,347 44,824,201 47,174,682 50,074,209  
        total liabilities and stockholders' equity
      		12,671,391,000 11,675,993,000 9,139,034,000 7,610,631,000 7,304,284,000 5,721,627,000 5,916,493,000 4,929,905,000 4,214,662,000 4,264,947,000 4,936,893,000 4,730,930,000 4,266,012,000 3,865,736,000 4,058,051,000 3,700,408,000 3,162,392,000 3,882,080,000 4,253,331,000 3,726,826,000 3,257,747,000 3,395,631,000 3,761,096,000 3,908,031,000 4,122,698,000 4,023,343,000 4,144,384,000 3,982,888,000 3,401,108,000 3,138,694,000 2,668,471,000 2,317,135,000 2,203,560,000 2,241,837,000 2,293,130,000 2,307,653,000 1,770,815,000 1,657,808,000 1,500,656,346 918,386,486 800,137,429 363,576,047 385,479,833 356,148,185 366,722,718  
        receivable for unsettled tba transactions
      		   3,223,000                                           
        payable for unsettled tba transactions
      		   4,004,000                                           
        u.s. treasury securities, at fair value
      		                                              
        u.s. treasury notes, at fair value
      		           37,195,000 36,806,000 36,382,000                                 
        total mortgage-backed securities
      		              3,726,895,000 3,304,761,000 2,948,797,000 3,590,921,000 3,820,918,000 3,527,256,000 3,088,514,000 3,014,503,000 3,513,956,000 3,689,596,000 3,745,784,000 3,744,811,000 3,930,340,000 3,737,827,000 3,262,017,000 3,022,174,000 2,501,497,000 2,223,257,000 1,977,045,000 2,158,010,000 2,117,609,000 2,174,871,000 1,676,621,000 1,549,171,000 1,175,532,430 876,004,251 747,757,500 351,222,512 331,786,933 339,147,913 360,260,273 115,379,574 
        derivative assets, at fair value
      		              20,999,000 8,231,000 1,336,000  3,389,000 4,264,000 13,199,000 16,885,000 37,422,000 34,207,000 36,179,000 17,160,000 16,871,000 10,613,000 12,430,000 10,365,000 1,097,000  826,000 669,000  65,000 218,000 1,217,000 3,906,100        
        receivable for securities sold, pledged to counterparties
      		              414,000 727,000   210,664,000   221,746,000   160,919,000      27,509,000  132,174,000  87,558,000    249,410,368    41,150,840    
        derivative liabilities, at fair value
      		              33,227,000 33,229,000 30,097,000 20,658,000 27,371,000 21,404,000 5,346,000 5,947,000  2,240,000 2,582,000 2,038,000 2,591,000 2,712,000 3,633,000 1,982,000 545,000 5,873,000 1,030,000              
        see notes to financial statements
      		                                              
        pledged to counterparties
      		                2,937,749,000 3,584,354,000 3,791,667,000 3,504,942,000 3,029,117,000 2,991,586,000 3,498,724,000 3,644,163,000 3,643,718,000 3,712,561,000 3,917,425,000 3,450,947,000 3,231,805,000 2,972,290,000 2,404,113,000 2,179,602,000 1,918,265,000 2,095,574,000 1,975,217,000 2,115,919,000 1,546,952,000 1,517,304,000 1,073,815,699 833,383,756 689,163,695 335,774,980 277,982,323 317,309,757 333,373,629 109,604,559 
        unpledged
      		                11,048,000 6,567,000 29,251,000 22,314,000 59,397,000 22,917,000 15,232,000 45,433,000 102,066,000 32,250,000 12,915,000 286,880,000 30,212,000 49,884,000 97,384,000 43,655,000 58,780,000 62,436,000 142,392,000 58,952,000 129,669,000 31,867,000 101,716,731 42,620,495 58,593,805 15,447,532 53,804,610 21,838,156 26,886,644 5,775,015 
        payable for unsettled securities purchased
      		                3,450,000    35,026,000    32,054,000   273,689,000   72,343,000 4,276,000 21,486,000  92,325,000  79,186,000  66,812,482  39,502,694  38,720,351    
        and outstanding as of march 31, 2020 and december 31, 2019
      		                                              
        shares issued and outstanding as of march 31, 2020 and 63,061,781 shares issued
      		                                              
        and outstanding as of december 31, 2019
      		                662,000                              
        and outstanding as of december 31, 2019 and december 31, 2018
      		                                              
        shares issued and outstanding as of december 31, 2019 and 49,132,423 shares issued
      		                                              
        and outstanding as of december 31, 2018
      		                 631,000 631,000 543,000 499,000                          
        and outstanding as of september 30, 2019 and december 31, 2018
      		                                              
        shares issued and outstanding as of september 30, 2019 and 49,132,423 shares issued
      		                                              
        and outstanding as of june 30, 2019 and december 31, 2018
      		                                              
        shares issued and outstanding as of june 30, 2019 and 49,132,423 shares issued
      		                                              
        and outstanding as of march 31, 2019 and december 31, 2018
      		                                              
        shares issued and outstanding as of march 31, 2019 and 49,132,423 shares issued
      		                                              
        and outstanding as of december 31, 2018 and december 31, 2017
      		                                              
        shares issued and outstanding as of december 31, 2018 and 53,061,904 shares issued
      		                                              
        and outstanding as of december 31, 2017
      		                     491,000 520,000 520,000 531,000                      
        accumulated (deficit) retained earnings
      		                     -44,387,000 -17,988,000 -15,030,000 -16,377,000   -7,193,000     -4,591,000  -6,246,000            
        see notes to consolidated financial statements
      		                                              
        and outstanding as of september 30, 2018 and december 31, 2017
      		                                              
        shares issued and outstanding as of september 30, 2018 and 53,061,904 shares issued
      		                                              
        and outstanding as of june 30, 2018 and december 31, 2017
      		                                              
        shares issued and outstanding as of june 30, 2018 and 53,061,904 shares issued
      		                                              
        and outstanding as of march 31, 2018 and december 31, 2017
      		                                              
        shares issued and outstanding as of march 31, 2018 and 53,061,904 shares issued
      		                                              
        and outstanding as of december 31, 2017 and december 31, 2016
      		                                              
        shares issued and outstanding as of december 31, 2017 and 32,962,919 shares issued
      		                                              
        and outstanding as of december 31, 2016
      		                         531,000 453,000 453,000 343,000                  
        retained earnings
      		                                     492,000 5,070,440 4,407,624       
        and outstanding as of september 30, 2017 and december 31, 2016
      		                                              
        shares issued and outstanding as of september 30, 2017 and 32,962,919 shares issued
      		                                              
        and outstanding as of june 30, 2017 and december 31, 2016
      		                                              
        shares issued and outstanding as of june 30, 2017 and 32,962,919 shares issued
      		                                              
        and outstanding as of march 31, 2017 and december 31, 2016
      		                                              
        shares issued and outstanding as of march 31, 2017 and 32,962,919 shares issued
      		                                              
        fhlb advances
      		                                 187,500,000             
        and outstanding as of december 31, 2016 and 2015
      		                                              
        21,749,490 shares issued and outstanding as of december 31, 2016 and 2015, respectively
      		                             330,000                 
        and outstanding as of september 30, 2016 and december 31, 2015
      		                                              
        shares issued and outstanding as of september 30, 2016 and 21,749,490 shares issued
      		                                              
        and outstanding as of december 31, 2015
      		                              263,000 224,000 218,000              
        and outstanding as of june 30, 2016 and december 31, 2015
      		                                              
        shares issued and outstanding as of june 30, 2016 and 21,749,490 shares issued
      		                                              
        and outstanding as of march 31, 2016 and december 31, 2015
      		                                              
        shares issued and outstanding as of march 31, 2016 and 21,749,490 shares issued
      		                                              
        and outstanding as of december 31, 2015 and 2014
      		                                              
        16,699,656 shares issued and outstanding as of december 31, 2015 and 2014, respectively
      		                                 217,000             
        and outstanding as of september 30, 2015 and december 31, 2014
      		                                              
        shares issued and outstanding as of september 30, 2015 and 16,699,656 shares issued
      		                                              
        and outstanding as of december 31, 2014
      		                                  219,000 230,000 179,000          
        payable for unsettled security purchased
      		                                   7,623,000    6,828,538       
        and outstanding as of june 30, 2015 and december 31, 2014
      		                                              
        shares issued and outstanding as of june 30, 2015 and 16,699,656 shares issued
      		                                              
        and outstanding as of march 31, 2015 and december 31, 2014
      		                                              
        shares issued and outstanding as of march 31, 2015 and 16,699,656 shares issued
      		                                              
        and outstanding as of december 31, 2014 and 2013
      		                                              
        3,341,665 shares issued and outstanding as of december 31, 2014 and 2013, respectively
      		                                     167,000         
        and outstanding as of september 30, 2014 and december 31, 2013
      		                                              
        shares issued and outstanding as of september 30, 2014 and 3,341,665 shares issued
      		                                              
        and outstanding as of december 31, 2013
      		                                      130,244 96,321 86,117      
        derivative asset, at fair value
      		                                       1,199,700 1,548,521      
        and outstanding as of june 30, 2014 and december 31, 2013
      		                                              
        shares issued and outstanding as of june 30, 2014 and 3,341,665 shares issued
      		                                              
        and outstanding as of march 31, 2014 and december 31, 2013
      		                                              
        shares issued and outstanding as of march 31, 2014 and 3,341,665 shares issued
      		                                              
        due from affiliates
      		                                            75,395  
        prepaid expenses and other assets
      		                                         179,071 671,733 391,746 245,427 9,122 
        accounts payable, accrued expenses and other
      		                                         80,260 121,183 108,940 138,591 140,723 
        and outstanding as of december 31, 2013 and no shares authorized as of december 31, 2012
      		                                              
        shares issued and outstanding as of december 31, 2013 and 1,000,000 shares authorized,
      		                                              
        154,110 shares issued and outstanding as of december 31, 2012
      		                                         33,417 33,417 33,417 33,417  
        and outstanding as of september 30, 2013 and no shares authorized as of december 31, 2012
      		                                              
        shares issued and outstanding as of september 30, 2013 and 1,000,000 shares authorized,
      		                                              
        and outstanding as of june 30, 2013 and no shares authorized as of december 31, 2012
      		                                              
        shares issued and outstanding as of june 30, 2013 and 1,000,000 shares authorized,
      		                                              
        and outstanding as of march 31, 2013 and no shares authorized as of december 31, 2012
      		                                              
        shares issued and outstanding as of march 31, 2013 and 1,000,000 shares authorized,
      		                                              
        due from bimini capital management, inc.
      		                                             45,126 
        liabilities and stockholder's equity
      		                                              
        due to bimini capital management, inc.
      		                                              
        stockholder's equity:
      		                                              
        shares issued and outstanding as of december 31, 2012 and 150,000
      		                                              
        shares issued and outstanding as of december 31, 2011
      		                                             1,541 
        total stockholder's equity
      		                                             14,724,975 
        total liabilities and stockholder's equity
      		                                             118,860,956 
      Cashflow Statements:
      Quarterly
      Annual
        Unit: USD2026-03-31 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-06-30 2024-03-31 2023-09-30 2023-06-30 2023-03-31 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-12-31 2017-09-30 2017-06-30 2017-03-31 2016-12-31 2016-09-30 2016-06-30 2016-03-31 2015-12-31 2015-09-30 2015-06-30 2015-03-31 2014-12-31 2014-09-30 2014-06-30 2014-03-31 2013-12-31 2013-09-30 2013-06-30 2013-03-31 
                                                
          cash flows from operating activities:
        		                                        
          net income
        		-19,955,000 55,622,000 -16,456,000 17,122,000 32,117,000 14,797,000 19,776,000  13,779,000 3,530,000 48,772,000 -91,199,000 18,612,000 -8,477,000 3,533,000 10,597,000 -26,399,000   -16,377,000 -5,982,000 15,182,000 -9,642,000 2,449,000 -20,418,000 20,525,000 6,463,000 -4,591,000 7,809,000 -9,415,000 -2,832,000 5,509,000 3,520,309 6,768,487 10,634,940 3,595,264 1,444,895 -997,107 -1,546,152 400,358 
          adjustments to reconcile net income to net cash from operating activities:
        		                                        
          stock based compensation
        		1,311,000 135,000 -50,000 -243,000 334,000 101,000 -140,000 939,000 652,000 409,000 55,000 59,000 65,000 71,000 75,000 83,000 83,000 86,000 243,000 80,000 82,000 94,000 116,000 243,000 113,000 106,000 118,000 268,000 67,000 66,000 75,000 223,000 24,301        
          net discount accretion on u.s. treasury securities
        		-172,000 -511,000 -316,000 -120,000                                     
          realized losses on mortgage-backed securities
        		-39,000 9,288,000 9,288,000 1,298,000 -510,000                                    
          unrealized losses on mortgage-backed securities
        		115,968,000                                        
          realized and unrealized losses on derivative instruments
        		-40,182,000 158,059,000 144,349,000 91,315,000 93,902,000  -39,176,000   43,563,000                               
          changes in operating assets and liabilities:
        		                                        
          accrued interest receivable
        		-4,753,000 -16,309,000 -8,938,000 -8,474,000 -7,917,000 -4,037,000 -663,000 -5,797,000 -3,747,000 -1,601,000 -187,000 2,350,000 2,983,000 -1,522,000 -1,320,000 696,000 844,000 686,000 778,000 -1,105,000 966,000 -1,407,000 -815,000 -1,676,000 -2,055,000 -764,000 -387,000 184,000 -306,000 441,000 -1,849,000 -565,000 -646,258 -1,766,724 -923,035 -1,315,983 -210,676 35,938 55,708 -999,530 
          other assets
        		-963,000 -13,000 -196,000 -469,000 -159,000 -278,000 -530,000 -108,000 -339,000 -459,000 75,000 -655,000 107,000 -189,000 501,000 -339,000 133,000 133,000 -18,000 -251,000 167,000 42,000 205,000 -417,000 173,000 120,000 137,000 -350,000 469,000 -254,000 210,000 -444,000 148,038 83,718 -221,465 -115,291     
          accrued interest payable
        		-2,939,000 11,484,000 3,098,000 2,543,000 8,433,000 9,658,000 4,830,000 6,627,000 2,071,000 5,544,000 -3,108,000 -7,287,000 -791,000 1,838,000 4,908,000 -1,299,000 1,850,000 -2,626,000 69,000 636,000 1,701,000 2,647,000 178,000 164,000 -47,000 461,000 517,000 32,000 411,000 -147,000 231,000 -260,000 239,542 79,580 191,662 25,216 13,764 21,854 -8,206 9,965 
          other liabilities
        		212,000 610,000 393,000 217,000 535,000 498,000 244,000 441,000 410,000 182,000 894,000 -223,000 -1,418,000 1,556,000 361,000 -477,000 -1,517,000 -5,195,000 6,498,000 218,000 4,442,000 1,962,000 -4,382,000 1,819,000 2,483,000 117,000 177,000 -498,000 175,000 218,000 1,481,000 -1,690,000 146,060 170,611 216,790 144,539     
          due to affiliates
        		127,000 331,000 182,000 182,000 164,000 73,000 -6,000 121,000 110,000 98,000           35,000    86,000    46,000 -37,000 70,000 56,000 26,567 151,192   2,047 6,496   
          net cash from operating activities
        		48,615,000 72,192,000 44,222,000 25,779,000 49,476,000 64,300,000 45,009,000 48,825,000 13,336,000 -2,629,000 19,159,000 -7,096,000 23,778,000 8,809,000 17,169,000 -1,595,000 -1,073,000 17,664,000 35,859,000 41,550,000 41,389,000 19,717,000 6,284,000 17,618,000 32,973,000 16,890,000 9,083,000 -11,900,000 28,323,000 -7,942,000 12,749,000 -2,425,000 3,270,495 8,748,203 -461,891 89,193 2,575,182 -292,436 8,744,405 -928,678 
          capital expenditures
        		0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 
          free cash flows
        		48,615,000 72,192,000 44,222,000 25,779,000 49,476,000 64,300,000 45,009,000 48,825,000 13,336,000 -2,629,000 19,159,000 -7,096,000 23,778,000 8,809,000 17,169,000 -1,595,000 -1,073,000 17,664,000 35,859,000 41,550,000 41,389,000 19,717,000 6,284,000 17,618,000 32,973,000 16,890,000 9,083,000 -11,900,000 28,323,000 -7,942,000 12,749,000 -2,425,000 3,270,495 8,748,203 -461,891 89,193 2,575,182 -292,436 8,744,405 -928,678 
          cash flows from investing activities:
        		                                        
          from mortgage-backed securities investments:
        		                                        
          purchases
        		-1,255,542,000 -4,244,377,000 -2,728,263,000 -1,710,118,000 -2,073,150,000 -1,113,948,000 -345,032,000 -1,443,827,000 -988,824,000 -467,460,000 -651,406,000 -1,334,350,000 -1,145,628,000 -932,100,000 -1,616,677,000 -547,417,000 -935,426,000 -963,194,000 -1,477,379,000 -517,829,000 -1,419,208,000 -1,387,879,000 -1,954,826,000 -1,737,240,000 -987,292,000 -699,451,000 -769,977,000 -715,281,000 -580,921,000 -966,406,000 -1,014,356,000 -125,348,000 -670,676,011 -570,132,547 -445,224,147 -506,249,295 -197,660,265 -48,292,457 -132,972,697 -308,658,763 
          sales and maturities
        		25,006,000 733,904,000 733,904,000 168,634,000 288,242,000 221,733,000 221,733,000                                  
          principal repayments
        		404,724,000 544,919,000 332,154,000 132,994,000 310,325,000 172,607,000 74,338,000 237,904,000 138,391,000 61,021,000 118,575,000 142,259,000 205,337,000 159,863,000 134,848,000 94,785,000 92,968,000 100,797,000 101,449,000 78,720,000 116,683,000 93,180,000 82,005,000 73,298,000 76,147,000 69,048,000 57,503,000 51,909,000 48,748,000 56,829,000 67,070,000 43,011,000 28,151,120 25,585,950 16,375,871 10,373,059 8,214,533 7,918,624 8,552,128 6,092,947 
          purchases of u.s. treasury securities, available-for-sale
        		-20,069,000 -74,098,000 -74,098,000 -49,622,000 -196,026,000 -196,025,000 -98,643,000 -97,789,000                                 
          proceeds from maturity of u.s. treasury securities, available-for-sale
        		 50,000,000 50,000,000 25,000,000 200,000,000 200,000,000 100,000,000                                  
          net payments on reverse repurchase agreements
        		-230,127,000                                        
          net proceeds from (payments on) derivative instruments
        		273,770,000      8,435,000                                  
          net cash from investing activities
        		-802,238,000 -3,140,317,000 -1,817,749,000 -1,526,514,000 -1,597,460,000 -719,723,000 -39,169,000 -1,151,718,000 -861,917,000 -448,889,000 -336,408,000 563,716,000 433,691,000 -513,575,000 -457,780,000 182,858,000 259,906,000 150,240,000 160,509,000 -190,635,000 145,530,000 -470,663,000 -222,225,000 -255,147,000 -629,270,000 -238,734,000 -127,951,000 76,207,000 -70,720,000 64,276,000 -601,123,000 -42,383,000 -187,579,016 -499,549,305 -149,865,363 -356,429,316 -17,703,518 10,308,004 3,967,112 -246,392,184 
          cash flows from financing activities:
        		                                        
          proceeds from repurchase agreements
        		23,449,233,000 44,874,923,000 28,368,377,000 14,563,906,000 30,279,982,000 18,417,873,000 8,529,398,000 27,780,008,000 17,626,375,000 7,849,145,000 7,276,402,000 13,602,710,000 11,790,045,000 11,539,300,000 10,691,728,000 11,573,937,000 12,780,043,000 13,275,962,000 12,941,838,000 13,098,449,000 14,585,997,000 14,652,189,000 13,295,653,000 11,947,907,000 9,931,737,000 8,153,328,000 8,055,278,000 6,234,852,000 5,258,712,000 6,150,438,000 4,206,431,000 3,251,722,000 2,356,916,463 2,126,865,673 1,510,308,006 1,669,241,858 895,694,887 752,263,496 992,822,591 678,889,088 
          principal payments on repurchase agreements
        		-22,699,976,000 -41,893,488,000 -26,738,041,000 -13,170,808,000 -28,754,760,000 -17,777,818,000 -8,523,549,000 -26,731,506,000 -16,803,103,000 -7,458,153,000 -6,911,913,000 -14,240,566,000 -12,155,916,000 -11,054,850,000 -10,228,939,000 -11,732,251,000 -13,076,794,000 -13,404,013,000 -13,111,264,000 -13,012,955,000 -14,762,288,000 -14,220,568,000 -13,067,805,000 -11,691,004,000 -9,436,129,000 -7,916,058,000 -7,933,940,000 -6,094,176,000 -5,403,198,000 -6,221,210,000 -3,651,851,000 -3,228,882,000 -2,176,244,295 -1,654,588,636 -1,377,853,502 -1,336,552,567 -878,794,356 -759,342,311 -1,000,533,122 -466,384,393 
          cash dividends
        		-67,169,000 -120,976,000 -73,026,000 -32,679,000 -64,065,000 -38,793,000 -18,564,000 -59,762,000 -37,307,000 -18,422,000 -12,592,000 -15,416,000 -15,151,000 -13,885,000 -12,511,000 -11,760,000 -12,398,000 -13,544,000 -14,254,000 -19,116,000 -19,954,000 -19,048,000 -15,033,000 -13,869,000 -7,908,000 -10,443,000 -9,267,000 -9,154,000 -9,150,000 -9,419,000 -10,940,000 -9,239,000 -8,098,780 -6,105,671 -4,988,849 -3,449,700 -1,503,749 -1,353,374   
          proceeds from issuance of common stock, net of issuance costs
        		107,767,000 497,185,000 344,840,000 205,424,000 223,698,000 113,807,000 13,109,000 159,438,000 79,012,000 31,657,000 0 19,447,000 -8,000 55,324,000 28,495,000 8,503,000     74,750,000 0 110,064,000 12,793,000 71,212,000 40,525,000   0 0 67,100,000 16,175,000 49,846,016 46,371,510       
          common stock repurchases, including shares withheld from employee stock awards for payment of taxes
        		-659,000 -7,364,000 -7,348,000 -69,000 -3,443,000 -2,924,000 -2,903,000 -4,287,000 -4,278,000 -3,970,000                               
          net cash from financing activities
        		789,196,000 3,350,280,000 1,894,802,000 1,565,774,000 1,681,412,000 712,145,000 -2,509,000 1,143,891,000 860,699,000 400,257,000 351,829,000 -633,825,000 -381,030,000 525,889,000 478,773,000 -164,595,000 -327,891,000 -141,595,000 -191,361,000 66,378,000 -121,495,000 412,573,000 322,879,000 255,827,000 558,912,000 267,352,000 118,662,000 -55,978,000 32,524,000 -89,703,000 610,740,000 29,776,000 222,419,404 512,542,876 140,044,326 391,738,394 15,396,782 -8,432,189 -9,063,906 247,453,571 
          net increase in cash, cash equivalents and restricted cash
        		35,573,000 282,155,000 121,275,000 65,039,000 133,428,000 56,722,000 3,331,000 40,998,000 12,118,000  34,580,000 -77,205,000 76,439,000 21,123,000 38,162,000 16,668,000 -69,058,000 26,309,000 5,007,000 -82,707,000 65,424,000 -38,373,000 106,938,000 18,298,000                 
          cash, cash equivalents and restricted cash, beginning of the period
        		724,561,000 335,053,000 335,053,000 335,053,000 200,289,000 200,289,000 200,289,000 237,219,000 237,219,000 237,219,000 0 278,655,000 0 0 0 126,263,000 0 0 0 246,712,000 0 0 0 94,425,000                 
          cash, cash equivalents and restricted cash, end of the period
        		760,134,000 617,208,000 456,328,000 400,092,000 333,717,000 257,011,000 203,620,000 278,217,000 249,337,000 185,958,000 34,580,000 201,450,000 76,439,000 21,123,000 38,162,000 142,931,000 -69,058,000 26,309,000 5,007,000 164,005,000 65,424,000 -38,373,000 106,938,000 112,723,000                 
          supplemental disclosure of cash flow information:
        		                                        
          cash paid during the period for:
        		                                        
          interest
        		103,714,000 200,543,000 127,414,000 58,833,000 163,995,000 95,464,000 46,531,000 142,965,000 88,817,000 36,673,000 7,588,000 23,809,000 20,813,000 20,484,000 17,523,000 20,190,000 17,890,000 21,518,000 16,510,000 14,513,000 11,854,000 9,991,000 8,585,000 6,551,000 5,022,000 3,519,000 2,812,000 3,288,000 1,960,000 2,184,000 1,336,000 1,556,000 886,564 738,803 484,006 385,627 295,221 272,059 330,092 191,455 
          unrealized losses on mortgage-backed securities and u.s. treasury securities
        		  -87,132,000 -77,592,000 -73,699,000 87,865,000 61,895,000 224,576,000                                 
          purchases of u.s. treasury securities
        		                                        
          maturity of u.s. treasury securities
        		                                        
          net (payments on) proceeds from derivative instruments
        		   -93,402,000 -126,851,000    -11,484,000 -42,450,000                               
          cash dividends paid
        		                                        
          unrealized gains on mortgage-backed securities
        		 -146,504,000                                       
          net payments on derivative instruments
        		 -150,665,000 -131,446,000   -4,090,000                                   
          net proceeds from derivative instruments
        		       114,494,000                                 
          discount accretion on u.s. treasury bills
        		    -3,724,000 -2,405,000 -1,221,000 -521,000                                 
          realized and unrealized gains on derivative instruments
        		     -41,972,000  -111,100,000 -15,244,000                                
          net loss
        		       -66,353,000                                 
          adjustments to reconcile net loss to net cash from operating activities:
        		                                        
          proceeds from maturity of u.s. treasury securities
        		       37,500,000                                 
          unrealized losses on mortgage-backed securities and u.s. treasury notes
        		        15,644,000 -53,895,000                               
          sales
        		          214,467,000 1,808,867,000 1,373,127,000 258,332,000 1,034,388,000 655,359,000 1,122,972,000 1,005,193,000 1,528,961,000 228,691,000 1,444,624,000 825,980,000 1,657,306,000 1,407,673,000 285,201,000 390,112,000 586,386,000 741,114,000 467,440,000 962,179,000 362,320,000 40,255,000 457,996,875 49,224,917 279,489,913 141,297,295 171,606,964 44,356,462 135,262,681 57,755,882 
          net decrease in cash, cash equivalents and restricted cash
        		         -51,261,000                               
          purchases of u.s. treasury notes
        		                                        
          net proceeds from reverse repurchase agreements
        		                                        
          realized and unrealized losses on mortgage-backed securities
        		           25,348,000 6,952,000 10,782,000 -26,618,000 -18,284,000 -4,529,000 32,844,000 32,592,000 80,050,000 43,522,000 2,784,000 13,155,000 16,308,000 61,212,000 2,168,000   19,583,000 1,176,000   -3,507,539 3,363,944   1,367,426 581,112   
          realized and unrealized losses on interest rate swaptions
        		          2,501,000 2,589,000 0 316,000 685,000 378,000               61,000 1,091,000 3,319,475        
          realized and unrealized losses on interest rate swaps
        		          9,423,000 54,934,000 -3,268,000 6,870,000 33,347,000 2,522,000  -1,695,000    -2,291,000 5,223,000 -1,534,000                 
          realized and unrealized losses on u.s. treasury securities
        		                                        
          realized losses on forward settling to-be-announced securities
        		          -1,846,000 7,090,000 511,000 -2,479,000 1,684,000 4,641,000 8,737,000 -3,293,000   2,095,000 1,459,000    474,000 786,000 1,125,000             
          payments on u.s. treasury securities
        		                                        
          proceeds from u.s. treasury securities
        		                                        
          (payments on) proceeds from net settlement of to-be-announced securities
        		            1,423,000 713,000 587,000 -11,146,000         744,000                
          purchase of derivative financial instruments, net of margin cash received
        		          -18,732,000 -45,458,000 -568,000 -383,000 -10,926,000 -8,723,000 -16,671,000 8,708,000 4,146,000 10,622,000                     
          common stock repurchases
        		            0 0 0 -3,024,000 -18,742,000 0           -1,340,000            
          supplemental disclosure of noncash investing activities:
        		                                        
          securities sold settled in later period
        		                   159,300,000        132,174,000             
          see notes to financial statements
        		                                        
          realized and unrealized gains on mortgage-backed securities
        		                           -8,029,000    -6,288,000    -2,451,306    -70,765 
          due from affiliates
        		          49,000 -102,000 25,000 43,000 13,000 -113,000                         
          payments on net settlement of to-be-announced securities
        		          714,000 -7,602,000         2,703,000 -2,354,000     -656,000 -942,000             
          securities acquired settled in later period
        		           3,450,000    35,026,000    32,054,000      68,067,000 -17,210,000 21,486,000  84,702,000 -71,563,000 79,186,000    39,502,694     
          redemption of fhlb stock
        		                    0 0 0 3,000 0 0 0 3,750,000             
          realized and unrealized gains on interest rate swaps
        		                   -11,576,000                     
          due (from) to affiliates
        		                32,000 -34,000 -140,000 -1,000       5,000 -26,000            -30,269 
          proceeds from (payments on) net settlement of to-be-announced securities
        		                -3,937,000 -1,264,000      1,119,000                 
          principal payments on fhlb advances
        		                        0 0 0 -187,500,000             
          see notes to consolidated financial statements
        		                                        
          realized and unrealized gains on interest rate swaptions
        		                 -284,000 -2,717,000 -1,717,000 -211,000                    
          realized gains on forward settling to-be-announced securities
        		                   -8,407,000                     
          proceeds from net settlement of to-be-announced securities
        		                   9,161,000         362,000            
          purchase of interest rate swaptions, net of margin cash received
        		                    728,000    -1,000 1,000 -1,000 705,000 -1,100,000 -207,000 -1,364,000 207,000 -3,042,375 -30,625       
          proceeds from fhlb advances
        		                                        
          due to (from) affiliates
        		                      -138,000 262,000            50,275     
          realized and unrealized losses on forward settling to-be-announced securities
        		                                        
          purchases of fhlb stock
        		                                        
          increase in restricted cash
        		                        -4,069,000 2,103,000 -1,206,000 -5,048,000 -1,496,000 11,826,000 -14,797,000 -473,000 -8,625 -4,197,000 512,000 -1,650,375    -1,582,250 
          net increase in cash and cash equivalents
        		                        -37,385,000 45,508,000 -206,000 8,329,000 -9,873,000 -33,369,000 22,366,000 -15,032,000 38,110,883 21,741,774 -10,282,928 35,398,271 268,446 1,583,379 3,647,611 132,709 
          cash and cash equivalents, beginning of the year
        		                                        
          cash and cash equivalents, end of the year
        		                                        
          cash paid during the year for:
        		                                        
          realized losses on interest rate swaptions
        		                         0 0 -36,000             
          unrealized losses on interest rate swaps
        		                         -6,353,000 5,540,000 21,000             
          cash and cash equivalents, beginning of the period
        		                         0 0 57,229,000  0 0 93,137,000  0 0 8,169,402  0 0 2,537,257 
          cash and cash equivalents, end of the period
        		                         45,508,000 -206,000 65,558,000  -33,369,000 22,366,000 78,105,000  21,741,774 -10,282,928 43,567,673  1,583,379 3,647,611 2,669,966 
          realized and unrealized gains on forward settling to-be-announced securities
        		                               -57,000         
          supplemental disclosures of noncash financing activities:
        		                                        
          issuance of common stock to bimini capital management, inc. pursuant to stock dividend
        		                                        
          payment on net settlement of to-be-announced securities
        		                              4,000 -35,000         
          issuance of common shares to
        		                                        
          bimini capital management, inc. pursuant to stock dividend
        		                                        
          issuance of common shares to repay amount due to bimini capital management, inc.
        		                                        
          supplemental disclosures of noncash investing activities:
        		                                        
          supplemental disclosure of noncash financing activity:
        		                                        
          issuance of common shares to bimini capital management, inc. pursuant to stock dividend
        		                                        
          stock based compensation and equity plan amortization
        		                                        
          realized and unrealized loss on interest rate swaption
        		                                        
          supplemental disclosure of noncash investing activity:
        		                                        
          security acquired settled in later period
        		                                        
          unrealized loss on interest rate swaption
        		                                   156,479     
          purchase of interest rate swaption, net of margin cash received
        		                                   -200,000     
          proceeds from issuance of common stock
        		                                   62,498,803 0 0 0 35,400,000 
          prepaid expenses and other assets
        		                                    -1,351 47,028 70,852 -236,305 
          accounts payable, accrued expenses and other
        		                                    -40,923 12,243 -29,651 -2,132 
          supplemental disclosures of cash flow information:
        		                                        
          decrease in restricted cash
        		                                     6,325,375   
          supplemental schedule of noncash investing activities:
        		                                        
          cash dividend
        		                                       -451,124 
          due to bimini capital management, inc.
        		                                        
          proceeds from issuance of common shares