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SEGMENT INFORMATION
9 Months Ended
Sep. 30, 2019
Segment Reporting [Abstract]  
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)
AssetInvestment
ManagementPortfolioCorporateEliminationsTotal
2019
Advisory services, external customers$5,052$-$-$-$5,052
Advisory services, other operating segments(1)200--(200)-
Interest and dividend income-7,0641-7,065
Interest expense-(3,655) (1,195)(2)-(4,850)
Net revenues5,2523,409(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
AssetInvestment
ManagementPortfolioCorporateEliminationsTotal
2018
Advisory services, external customers$5,933$-$-$-$5,933
Advisory services, other operating segments(1)185--(185)-
Interest and dividend income-7,3961-7,397
Interest expense-(2,796) (1,097)(2)-(3,893)
Net revenues6,1184,600(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)
AssetInvestment
ManagementPortfolioCorporateEliminationsTotal
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 revenues1,8541,009(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)
AssetInvestment
ManagementPortfolioCorporateEliminationsTotal
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 revenues1,9381,385(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)
AssetInvestment
ManagementPortfolioCorporateTotal
September 30, 2019$1,448$196,886$11,645$209,979
December 31, 20181,488245,86612,046259,400