Frank E. Jaumot, who has served on Bimini Capital Management’s board since 2009, stepped down on November 6, 2025. In his place, the company named Ashley B. Griffith as a Class I director, effective immediately. Griffith brings more than 25 years of institutional sales experience, most recently as Director of Institutional Sales at Hovde Group, and will serve until the 2028 annual meeting. The change reflects Bimini’s ongoing governance adjustments and signals a strategic emphasis on capital‑market expertise as the firm expands its advisory services.
Bimini’s Q3 2025 financial results show a sharp turnaround from the prior year. Net income rose to $1.8 million, or $0.18 per share, compared with $0.3 million ($0.03 per share) in Q3 2024. Advisory‑service revenue climbed 35 % year‑over‑year to $4.5 million, generating $2.4 million in net income, while the investment‑portfolio segment contributed $0.3 million. The earnings surge is largely attributable to a favorable environment for levered Agency RMBS investors, driven by range‑bound interest rates and modest mortgage‑spread tightening.
The advisory‑services segment, which has become a key growth engine, benefited from increased demand for RMBS advisory and capital‑raising services for mortgage REITs. Orchid Island Capital, the firm’s primary client, raised $152.3 million in new equity during the quarter, further boosting advisory revenue. The investment‑portfolio segment remained stable, with net income matching the prior year’s performance.
CEO Robert E. Cauley noted that Q3 2025 was “generally free of market‑moving events,” creating a favorable backdrop for RMBS investors. He highlighted the company’s ability to capitalize on the stable rate environment and the momentum in mortgage‑REIT capital raising, underscoring Bimini’s focus on expanding its advisory footprint.
Griffith’s appointment strengthens the board’s institutional‑sales and capital‑markets expertise, aligning governance with the firm’s strategic pivot toward advisory services. The move is expected to support Bimini’s growth plans and enhance its ability to attract and serve institutional clients in a competitive market.
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