VERO BEACH, Fla., March 26, 2018 (GLOBE NEWSWIRE) -- Bimini Capital Management, Inc. (OTCQB:BMNM) ("Bimini” or the "Company"), announced today that its Board of Directors approved a plan to repurchase up to 500,000 shares of the Company’s Class A Common Stock. The plan is scheduled to terminate on November 15, 2018. The authorization represents approximately 4% of the Company’s Class A shares outstanding.

In making the announcement, Chairman and CEO Robert Cauley stated, “We are committed to delivering shareholder value, and this repurchase plan authorization reflects the Board's confidence in both our short term prospects and our long term growth strategy. The repurchase plan is intended to enhance shareholder value by making repurchases during periods of favorable market conditions. Under the plan’s terms, shares may be repurchased from time to time in open market transactions or certain other transactions.”

About Bimini Capital Management, Inc.

Bimini Capital Management, Inc. is an asset manager that invests primarily in residential mortgage-related securities issued by the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac) and the Government National Mortgage Association (Ginnie Mae).