BIMINI CAPITAL MANAGEMENT, INC.
For the period ended Dec 31, 2025. Filed Mar 13, 2026.
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FY2025 · Filed Mar 13, 2026
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Item 8. Consolidated Statements of Cash Flows
BIMINI CAPITAL MANAGEMENT, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
Years Ended December 31,
| 2025 | 2024 | |
|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net income (loss) | $5,801,390 | $(1,306,334) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Depreciation | 76,150 | 75,809 |
| Deferred income tax (benefit) provision | (1,308,695) | 3,116,727 |
| Unrealized (gains) losses on mortgage-backed securities | (2,687,955) | 308,521 |
| Realized losses on mortgage-backed securities | 219,054 | 561,604 |
| Unrealized losses on Orchid Island Capital, Inc. common stock | 330,061 | 369,897 |
| Changes in operating assets and liabilities: | ||
| Accrued interest receivable | 186,548 | (112,980) |
| Due from affiliates | (493,270) | (153,990) |
| Other assets | (155,441) | 18,672 |
| Accrued interest payable | (174,470) | 214,265 |
| Other liabilities | 1,090,006 | 99,971 |
| NET CASH PROVIDED BY OPERATING ACTIVITIES | 2,883,378 | 3,192,162 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| From mortgage-backed securities investments: | ||
| Purchases | - | (90,161,778) |
| Sales | 19,513,040 | 46,252,051 |
| Principal repayments | 16,375,506 | 13,422,284 |
| NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | 35,888,546 | (30,487,443) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Proceeds from repurchase agreements | 888,907,478 | 823,015,000 |
| Principal repayments on repurchase agreements | (920,762,477) | (792,741,000) |
| Principal repayments on long-term debt | (21,612) | (26,259) |
| Class A common shares repurchased and retired | - | - |
| NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES | (31,876,611) | 30,247,741 |
| NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | 6,895,313 | 2,952,460 |
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of the year | 7,422,746 | 4,470,286 |
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of the year | $14,318,059 | $7,422,746 |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||
| Cash paid during the year for: | ||
| Interest | $6,986,789 | $7,327,002 |
See Notes to Consolidated Financial Statements
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