Orchid Island Capital, Inc., is a specialty finance company that invests in residential mortgage-backed securities (RMBS). The Company�s investment strategy focuses on, and its portfolio consists of two categories of Agency RMBS: traditional pass-through Agency RMBS and andstructured Agency RMBS, such as collateralized mortgage obligations (CMOs), interest only securities (IOs), inverse interest only securities (IIOs), and principal only securities (Pos), among other types of structured Agency RMBS. As of September 30, 2012, its Agency RMBS portfolio consisted of approximately 89.3% pass-through Agency RMBS and 10.7% structured Agency RMBS. The Company�s business objective is to provide attractive risk-adjusted total returns over the long term through a combination of capital appreciation and the payment of regular monthly distributions. The Company is managed by Bimini Capital Management, Inc., (Bimini).