Strong Capital Raise by Orchid
Orchid Island Capital was able to raise $205.4 million during the quarter, increasing its shareholders' equity from $668.5 million at the end of 2024 to $855.9 million by March 2025.
Increased Advisory Service Revenues
Bimini's advisory service revenues increased to approximately $3.6 million, representing a 22% increase over the first quarter of 2024 and a 6% increase over the fourth quarter of 2024.
Significant Net Interest Income Growth
Net interest income, including dividends from Orchid common shares, increased approximately 64% over the first quarter of 2024 and approximately 35% over the fourth quarter of 2024.
Decreased Interest Charges
Interest charges on floating rate trust preferred and other long-term debt decreased by 12% from the first quarter of 2024 and 8% from the fourth quarter of 2024.
Positive Net Income Growth
The company recorded net income before taxes of $0.73 million for Q1 2025, up from $0.56 million in Q4 2024 and $0.61 million in Q1 2024.