Bimini Capital Q2 2026: Net Income Surges to $0.4M as TJIM Acquisition Begins to Pay Off
BMNM has more than doubled off its 52-week low of $0.6.
Summary
Bimini Capital reported Q2 2026 net income of $0.4 million, a sharp increase from $0.04 million last year, driven by the first full quarter of contribution from its TJIM acquisition. Advisory fees from TJIM added $1.7 million, while the legacy MBS portfolio was substantially reduced.
Key Events · Earnings and Guidance · BMNM
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Q2 Net Income Jumps to $0.4M
Net income attributable to Bimini stockholders was $374,057 ($0.04 per share) in Q2 2026, compared to $42,732 ($0.00 per share) in Q2 2025. For the first half, net income was $1.2 million ($0.12 per share) versus $0.6 million ($0.06 per share).
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TJIM Advisory Fees Add $1.7M in Revenue
The newly acquired Tom Johnson Investment Management contributed $1.7 million in investment advisory fees in Q2 2026, representing 24% of consolidated revenues. TJIM manages over $1.7 billion in assets.
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MBS Portfolio and Leverage Sharply Reduced
Mortgage-backed securities holdings fell to $16.0 million from $88.9 million at year-end 2025, and repurchase agreements declined to $15.0 million from $85.3 million, as capital was redeployed to fund the TJIM acquisition.
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Acquisition Costs and Tax Adjustment Impact Earnings
Acquisition-related expenses were $0.9 million in Q2 and $1.5 million for the half. A $1.1 million increase in the deferred tax valuation allowance was also recorded, reflecting reassessment of NOL realizability post-acquisition.
Analysis · BMNM · Real Estate & Construction
A dramatic improvement in profitability marks Bimini Capital's second quarter, with net income climbing to $0.4 million from near breakeven a year ago. The newly acquired TJIM wealth management business contributed $1.7 million in advisory fees, diversifying revenue beyond the legacy mortgage REIT management and investment portfolio. While acquisition costs and a valuation allowance adjustment weighed on results, the underlying operating trends are positive. The company also significantly deleveraged its MBS portfolio, reducing repurchase agreements from $85 million to $15 million, which lowers risk but also reduces interest income. The quarter reflects a strategic pivot toward fee-based asset management.
At the time of this filing, BMNM was trading at $2.60 on OTC in the Real Estate & Construction sector, with a market capitalization of approximately $26.2M. The 52-week trading range was $0.60 to $3.89. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.