Segment Reporting Disclosure [Text Block] |
NOTE 15. SEGMENT INFORMATION The Company’s operations are classified into two principal reportable segments: the asset management segment and the investment portfolio segment. The asset management segment includes the investment advisory services provided by Bimini Advisors to Orchid and Royal Palm. As discussed in Note 2, the revenues of the asset management segment consist of management fees and overhead reimbursements received pursuant to a management agreement with Orchid. Total revenues received under this management agreement for the nine months ended September 30, 2019 and 2018, were approximately $5.1 million and $5.9 million, respectively, accounting for approximately 42% and 45% of consolidated revenues, respectively. The investment portfolio segment includes the investment activities conducted by Royal Palm. The investment portfolio segment receives revenue in the form of interest and dividend income on its investments. Segment information for the nine months ended September 30, 2019 and 2018 is as follows: (in thousands) | | | | | | | | | | | | Asset | Investment | | | | | Management | Portfolio | Corporate | Eliminations | Total | 2019 | | | | | | | | | | | Advisory services, external customers | $ | 5,052 | $ | - | $ | - | $ | - | $ | 5,052 | Advisory services, other operating segments(1) | | 200 | | - | | - | | (200) | | - | Interest and dividend income | | - | | 7,064 | | 1 | | - | | 7,065 | Interest expense | | - | | (3,655) | | (1,195)(2) | | - | | (4,850) | Net revenues | | 5,252 | | 3,409 | | (1,194) | | (200) | | 7,267 | Other | | - | | (419) | | (736)(3) | | - | | (1,155) | Operating expenses(4) | | (2,019) | | (2,806) | | - | | - | | (4,825) | Intercompany expenses(1) | | - | | (200) | | - | | 200 | | - | Income (loss) before income taxes | $ | 3,233 | $ | (16) | $ | (1,930) | $ | - | $ | 1,287 | | | | | | | | | | | | | Asset | Investment | | | | | Management | Portfolio | Corporate | Eliminations | Total | 2018 | | | | | | | | | | | Advisory services, external customers | $ | 5,933 | $ | - | $ | - | $ | - | $ | 5,933 | Advisory services, other operating segments(1) | | 185 | | - | | - | | (185) | | - | Interest and dividend income | | - | | 7,396 | | 1 | | - | | 7,397 | Interest expense | | - | | (2,796) | | (1,097)(2) | | - | | (3,893) | Net revenues | | 6,118 | | 4,600 | | (1,096) | | (185) | | 9,437 | Other | | - | | (9,190) | | 1,785 (3) | | - | | (7,405) | Operating expenses(4) | | (2,174) | | (2,712) | | - | | - | | (4,886) | Intercompany expenses(1) | | - | | (185) | | - | | 185 | | - | Income (loss) before income taxes | $ | 3,944 | $ | (7,487) | $ | 689 | $ | - | $ | (2,854) |
Segment information for the three months ended September 30, 2019 and 2018 is as follows: (in thousands) | | | | | | | | | | | | Asset | Investment | | | | | Management | Portfolio | Corporate | Eliminations | Total | 2019 | | | | | | | | | | | Advisory services, external customers | $ | 1,791 | $ | - | $ | - | $ | - | $ | 1,791 | Advisory services, other operating segments(1) | | 63 | | - | | - | | (63) | | - | Interest and dividend income | | - | | 2,011 | | - | | - | | 2,011 | Interest expense | | - | | (1,002) | | (389)(2) | | - | | (1,391) | Net revenues | | 1,854 | | 1,009 | | (389) | | (63) | | 2,411 | Other | | - | | (438) | | (601)(3) | | - | | (1,039) | Operating expenses(4) | | (754) | | (852) | | - | | - | | (1,606) | Intercompany expenses(1) | | - | | (63) | | - | | 63 | | - | Income (loss) before income taxes | $ | 1,100 | $ | (344) | $ | (990) | $ | - | $ | (234) | | | | | | | | | | | | | Asset | Investment | | | | | Management | Portfolio | Corporate | Eliminations | Total | 2018 | | | | | | | | | | | Advisory services, external customers | $ | 1,873 | $ | - | $ | - | $ | - | $ | 1,873 | Advisory services, other operating segments(1) | | 65 | | - | | - | | (65) | | - | Interest and dividend income | | - | | 2,434 | | - | | - | | 2,434 | Interest expense | | - | | (1,049) | | (388)(2) | | - | | (1,437) | Net revenues | | 1,938 | | 1,385 | | (388) | | (65) | | 2,870 | Other | | - | | (1,651) | | 1,478 (3) | | - | | (173) | Operating expenses(4) | | (653) | | (842) | | - | | - | | (1,495) | Intercompany expenses(1) | | - | | (65) | | - | | 65 | | - | Income (loss) before income taxes | $ | 1,285 | $ | (1,173) | $ | 1,090 | $ | - | $ | 1,202 |
Assets in each reportable segment as of September 30, 2019 and December 31, 2018 were as follows: (in thousands) | | | | | | | | | | Asset | Investment | | | | Management | Portfolio | Corporate | Total | September 30, 2019 | $ | 1,448 | $ | 196,886 | $ | 11,645 | $ | 209,979 | December 31, 2018 | | 1,488 | | 245,866 | | 12,046 | | 259,400 |
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