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ORC > SEC Filings for ORC > Form 8-K on 6-Aug-2013All Recent SEC Filings

Show all filings for ORCHID ISLAND CAPITAL, INC. | Request a Trial to NEW EDGAR Online Pro

Form 8-K for ORCHID ISLAND CAPITAL, INC.


6-Aug-2013

Regulation FD Disclosure, Financial Statements and Exhibits


ITEM 7.01. REGULATION FD DISCLOSURE

On August 6, 2013, Orchid Island Capital, Inc. (the "Company") held an earnings conference call for its second quarter ended June 30, 2013. During that call the Company disclosed the following additional information.

On July 8, 2013, the Company had material margin calls from its repurchase agreement counterparties that were met with cash on hand. No assets were sold to meet these margin calls.

The Company's outstanding repurchase agreement balance at July 31, 2013 was $303.6 million, compared to $306.5 million at July 8, 2013 and $308.7 million at June 30, 2013. The slight decrease in the outstanding balance is the result of the fact that certain outstanding repurchase agreement borrowings came due after quarter end and where renewed at lower balances due to pay-downs on the underlying securities and the fact the market value of the securities pledged had declined in value. Cash that had been posted previously to meet either pay-down or price decline related margin calls was retained and used to acquire additional securities that were not subsequently pledged.

During July 2013, the Company used approximately $6.5 million of its structured mortgage backed securities as collateral as part of a repurchase agreement borrowing with an existing repurchase agreement counterparty. The borrowed funds are being held for additional liquidity and not used for the purchase of additional securities.

On August 1, 2013, the Company filed a Form 8-K that included the second quarter 2013 earnings press release as an exhibit.

The information in this Form 8-K and Exhibits attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.



ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

Exhibit Number

99.1 Second Quarter 2013Earnings Conference Call script of the Company, dated August 6, 2013.


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