false 0001518621 0001518621 2022-10-12 2022-10-12
 
 
 
 
 
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON,
 
DC 20549
FORM
8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
October 12, 2022
Orchid Island Capital, Inc.
(Exact Name of Registrant as Specified in Charter)
Maryland
001-35236
27-3269228
(State or Other Jurisdiction of
Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
3305 Flamingo Drive
,
Vero Beach
,
Florida
32963
(Address of Principal Executive Offices) (Zip Code)
Registrant’s telephone number,
 
including area code
(
772
)
231-1400
N/A
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended
 
to simultaneously satisfy the filing obligation of the
registrant under any of the following provisions:
☐
 
Written communications pursuant
 
to Rule 425 under the Securities Act (17 CFR 230.425)
☐
 
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a
 
-12)
☐
 
Pre-commencement communications pursuant to Rule 14d-2(b)
 
under the Exchange Act (17 CFR 240.14d-2(b))
☐
 
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
 
Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class:
Trading symbol:
 
Name of each exchange
 
on which registered:
Common Stock, par value $0.01 per share
ORC
NYSE
Indicate by check mark whether the registrant is an emerging growth
 
company as defined in Rule 405 of the Securities Act of
1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange
 
Act of 1934 (§240.12b-2 of this chapter).
 
Emerging growth company
 
☐
If an emerging growth company,
 
indicate by check mark if the registrant has elected not to use the extended transition
 
period
for complying with any new or revised financial accounting standards provided
 
pursuant to Section 13(a) of the Exchange
Act.
 
☐
 
 
 
Item 2.02.
 
Results of Operations and Financial Condition.
On October 12, 2022, Orchid Island Capital, Inc. (the “Company”)
 
announced its estimated book value of $11.42 per
 
share as
of September 30, 2022, certain details of its RMBS portfolio as of September 30, 2022,
 
and estimated GAAP net loss per
share of $2.41, including an estimated $2.66 per share of net realized and unrealized
 
losses, for the quarter ended September
30, 2022.
 
These figures and the estimated book value per share and estimated GAAP net income
 
per share are preliminary,
subject to change, and subject to review by the Company’s
 
independent registered public accounting firm.
Item 8.01.
 
Other Events.
On October 12, 2022, the Company announced that the Board of Directors of
 
the Company (the “Board”) declared a dividend
for the month of October 2022 of $0.16 per share of the Company’s
 
common stock, to be paid on November 28, 2022 to
holders of record on October 31, 2022, with an ex-dividend date of
 
October 28, 2022. In addition, the Company announced
certain details of its RMBS portfolio as of September 30, 2022 as well as certain other
 
information regarding the Company.
 
The Company also announced the Board’s
 
approval on October 12, 2022 of an increase to its previously announced
 
stock
repurchase program (the “Repurchase Program”) for up to
 
an additional 4,300,000 shares of the Company’s
 
common stock,
which results in a total authorization under the Repurchase Program for up
 
to 5,046,499 shares, representing approximately
15% of the Company’s currently outstanding
 
shares of common stock. As part of the Repurchase Program, shares may be
purchased in open market transactions, including through block purchases,
 
through privately negotiated transactions, or
pursuant to any trading plan that may be adopted in accordance with Rule 10b5
 
-1 of the Securities Exchange Act of 1934, as
amended (the “Exchange Act”). Open market repurchases will be
 
made in accordance with Exchange Act Rule 10b-18,
which sets certain restrictions on the method, timing, price and volume
 
of open market stock repurchases. The timing,
manner, price and amount of any repurchases
 
will be determined by the Company in its discretion and will be subject to
economic and market conditions, stock price, applicable legal requirements and
 
other factors. The authorization does not
obligate the Company to acquire any particular amount of common
 
stock, and the Repurchase Program may be suspended or
discontinued at the Company’s discretion
 
without prior notice. The Repurchase Program has no termination date.
A copy of the Company’s press release announcing
 
the dividend,
 
the other information regarding the Company and the
increase in the size of the Repurchase Program is attached hereto as Exhibit
 
99.1 and incorporated herein by this reference.
 
Caution About Forward-Looking Statements.
 
This Current Report on Form 8-K contains forward-looking statements within
 
the meaning of the Private Securities Litigation
Reform Act of 1995 and other federal securities laws, including, but not limited
 
to, statements about the Company’s
distributions and the Repurchase Program. These forward-looking
 
statements are based upon the Company’s
 
present
expectations, but the Company cannot assure investors that actual results will not
 
vary from the expectations contained in the
forward-looking statements. Investors should not place undue reliance
 
upon forward looking statements. For further
discussion of the factors that could affect outcomes, please refer to the
 
“Risk Factors” section of the Company's Annual
Report on Form 10-K for the fiscal year ended December 31, 2021. All forward-looking
 
statements speak only as of the date
on which they are made. New risks and uncertainties arise over time, and it is not
 
possible to predict those events or how they
may affect the Company.
 
Except as required by law,
 
the Company is not obligated to, and does not intend to, update or revise
any forward-looking statements, whether as a result of new information, future
 
events or otherwise.
Item 9.01. Financial Statements and Exhibits.
(d)
 
Exhibits
Exhibit No.
Description
99.1
104
Cover Page Interactive Data File (embedded within the Inline XBRL
document)
 
 
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this
 
report to be signed on
its behalf by the undersigned hereunto duly authorized.
Date: October 12, 2022
 
ORCHID ISLAND CAPITAL,
 
INC.
By:
/s/ Robert E. Cauley
Robert E. Cauley
Chairman and Chief Executive Officer
ORCHID ISLAND CAPITAL ANNOUNCES
ESTIMATED THIRD QUARTER 2022 RESULTS,
 
OCTOBER 2022 MONTHLY DIVIDEND, INCREASE IN STOCK REPURCHASE
PROGRAM AUTHORIZATION AND
SEPTEMBER 30, 2022 RMBS PORTFOLIO CHARACTERISTICS
●
October 2022 Monthly Dividend of $0.16 Per Share of Common Stock
●
Increased Stock Repurchase Program Authorization by 4.3 Million Shares
 
of Common Stock
●
Estimated Book Value Per Share as of September 30, 2022 of $11.42
●
Estimated GAAP net loss of $2.41 per share for the quarter ended September
 
30, 2022, including an
estimated $2.66 per share of net realized and unrealized losses on RMBS and
 
derivative instruments
●
Estimated (16.7)% total return on equity for the quarter
●
Estimated book value,
 
net loss and
 
total return on
 
equity amounts are
 
preliminary, subject
 
to change,
and subject to review by the Company’s independent registered public accounting firm
●
RMBS Portfolio Characteristics as of September 30, 2022
●
Next Dividend Announcement Expected November 9, 2022
Vero
 
Beach, Fla.,
 
October 12,
 
2022 -
 
Orchid Island
 
Capital, Inc.
 
(the “Company”)
 
(NYSE: ORC)
 
announced today
 
that the
Board of Directors (the “Board”) declared a monthly
 
cash dividend for the month of October 2022. The dividend
 
of $0.16 per
share will be paid November 28, 2022 to holders of record of the Company’s
 
common stock on October 31, 2022, with an ex-
dividend date of October 28, 2022. The Company plans on announcing its next common stock dividend on November 9, 2022.
The Company intends to make
 
regular monthly cash distributions
 
to its holders of common stock.
 
In order to qualify as a
 
real
estate investment trust (“REIT”), the Company must distribute annually
 
to its stockholders an amount at least equal to 90% of
its REIT
 
taxable income,
 
determined without
 
regard to
 
the deduction
 
for dividends
 
paid and
 
excluding any
 
net capital
 
gain.
The Company
 
will be subject
 
to income
 
tax on taxable
 
income that is
 
not distributed
 
and to an
 
excise tax to
 
the extent that
 
a
certain percentage
 
of its
 
taxable income
 
is not
 
distributed by
 
specified dates.
 
The Company
 
has not
 
established a
 
minimum
distribution payment level and is not assured of its ability to make distributions
 
to stockholders in the future.
As of
 
October 12,
 
2022, the
 
Company had
 
33,760,251 shares
 
of common
 
stock outstanding.
 
As of
 
September 30,
 
2022, the
Company had 35,066,251
 
shares of common
 
stock outstanding.
 
As of June 30,
 
2022, the Company
 
had 35,250,239 shares
 
of
common stock outstanding,
 
adjusted for the
 
Company’s one-for-five reverse stock split
 
effective August 30, 2022
 
(the “Reverse
Stock Split”).
Stock Repurchase Program
Today,
 
the Board
 
approved an
 
increase in
 
the number
 
of shares
 
of the
 
Company’s
 
common stock
 
available in
 
its previously
announced
 
stock
 
repurchase
 
program
 
(the
 
“Repurchase
 
Program”)
 
for
 
up
 
to
 
an
 
additional
 
4.3
 
million
 
shares,
 
bringing
 
the
remaining authorization under
 
the Repurchase Program
 
to approximately 5.0 million
 
shares, representing approximately 15%
of the Company’s currently outstanding
 
shares of common stock.
 
As part of the Repurchase Program, shares may be purchased in open market
 
transactions, block purchases, through privately
negotiated transactions, or
 
pursuant to any trading plan
 
that may be adopted
 
in accordance with Rule 10b5
 
-1 of the Securities
Exchange Act of 1934,
 
as amended (the “Exchange
 
Act”). Open market repurchases
 
will be made
 
in accordance with Exchange
Act Rule
 
10b-18, which
 
sets certain
 
restrictions on
 
the method,
 
timing, price
 
and volume
 
of open
 
market stock
 
repurchases.
The timing,
 
manner,
 
price and
 
amount of
 
any repurchases
 
will be
 
determined by
 
the Company
 
in its
 
discretion
 
and will
 
be
subject to economic and market
 
conditions, stock price, applicable legal requirements and
 
other factors. The authorization does
not obligate the Company
 
to acquire any particular amount
 
of common stock and
 
the Repurchase Program may
 
be suspended
or discontinued at the Company’s discretion
 
without prior notice. The Repurchase Program has no termination date.
Estimated September 30, 2022 Book Value
 
Per Share
The Company’s
 
estimated book
 
value per
 
share as of
 
September 30,
 
2022 was
 
$11.42.
 
The Company
 
computes book
 
value
per share by dividing total stockholders'
 
equity by the total number of outstanding
 
shares of common stock. At September
 
30,
2022, the Company's
 
preliminary estimated total
 
stockholders' equity was
 
approximately $400.4 million with
 
35,066,251 shares
of common stock
 
outstanding. These figures
 
and the resulting
 
estimated book value
 
per share
 
are preliminary, subject to
 
change,
and subject to review by the Company’s
 
independent registered public accounting firm.
 
Estimated Net Loss Per Share and Realized and Unrealized
 
Gains and Losses on RMBS and Derivative Instruments
The Company estimates it generated a
 
net loss per share
 
of $2.41, which includes $2.66 per
 
share of net realized and
 
unrealized
losses
 
on
 
RMBS
 
and
 
derivative
 
instruments
 
for
 
the
 
quarter
 
ended
 
September
 
30,
 
2022.
 
These
 
amounts
 
compare
 
to
 
total
dividends declared
 
during the
 
quarter of
 
$0.545 per
 
share, adjusted
 
for the
 
Reverse Stock
 
Split, as
 
applicable.
 
Net loss
 
per
common share calculated under generally accepted accounting principles can, and does, differ
 
from our REIT taxable income.
 
The Company views REIT taxable income as a better indication
 
of income to be paid in the form of a dividend rather than net
loss. Many
 
components of
 
REIT taxable
 
income can
 
only be
 
estimated at
 
this time
 
and our
 
monthly dividends
 
declared are
based on
 
both estimates
 
of REIT
 
taxable income
 
to be
 
earned over
 
the course
 
of the
 
current quarter
 
and calendar
 
year and
 
a
longer-term estimate of the
 
REIT taxable income of
 
the Company. These figures are preliminary, subject to
 
change, and subject
to review by the Company’s independent
 
registered public accounting firm.
 
Estimated Total
 
Return on Equity
The
 
Company’s
 
estimated
 
total
 
return
 
on
 
equity
 
for
 
the
 
quarter
 
ended
 
September
 
30,
 
2022
 
was
 
(16.7)%.
 
The
 
Company
calculates total return on equity as the
 
sum of dividends declared and paid
 
during the quarter plus changes in
 
book value during
the quarter,
 
divided by the Company’s
 
stockholders’ equity at the beginning
 
of the quarter.
 
The total return was $(2.395)
 
per
share, comprised of dividends per share of $0.545 and a decrease in book
 
value per share of $2.94 from June 30, 2022.
RMBS Portfolio Characteristics
Details of
 
the RMBS
 
portfolio
 
as of
 
September 30,
 
2022 are
 
presented
 
below.
 
These figures
 
are preliminary
 
and subject
 
to
change and, with
 
respect to figures
 
that will appear
 
in the Company’s
 
financial statements and
 
associated footnotes as
 
of and
for the quarter
 
ended September
 
30, 2022,
 
are subject to
 
review by the
 
Company’s
 
independent registered
 
public accounting
firm.
 
●
RMBS Valuation
 
Characteristics
●
RMBS Assets by Agency
●
Investment Company Act of 1940 Whole Pool Test
 
Results
●
Repurchase Agreement Exposure by Counterparty
●
RMBS Risk Measures
About Orchid Island Capital, Inc.
Orchid Island Capital, Inc. is a specialty finance company that invests on a leveraged
 
basis in Agency RMBS. Our investment
strategy focuses on, and
 
our portfolio consists of,
 
two categories of Agency
 
RMBS: (i) traditional pass-through
 
Agency RMBS,
such
 
as
 
mortgage
 
pass-through
 
certificates
 
and
 
collateralized
 
mortgage
 
obligations
 
issued
 
by
 
Fannie
 
Mae,
 
Freddie
 
Mac
 
or
Ginnie Mae, and (ii)
 
structured Agency RMBS. The
 
Company is managed by
 
Bimini Advisors, LLC, a
 
registered investment
adviser with the Securities and Exchange Commission.
Forward-Looking Statements
This press release contains
 
forward-looking statements within
 
the meaning of
 
the Private Securities Litigation
 
Reform Act of
1995 and other
 
federal securities laws. These
 
forward-looking statements
 
include, but are not
 
limited to, statements about
 
the
Company’s distributions and the Repurchase
 
Program. These forward-looking
 
statements are based
 
upon Orchid Island
 
Capital,
Inc.’s
 
present expectations,
 
but these statements
 
are not
 
guaranteed to
 
occur.
 
Investors should
 
not place
 
undue reliance upon
forward-looking statements. For further discussion of the factors that could affect outcomes, please refer
 
to the “Risk Factors”
section of the Company’s Annual Report
 
on Form 10-K for the fiscal year ended December 31, 2021.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
RMBS Valuation Characteristics
($ in thousands)
Realized
Realized
Sep 2022
Jul - Sep
Modeled
Modeled
Net
Weighted
CPR
2022 CPR
Interest
Interest
%
Weighted
Average
(1-Month)
(3-Month)
Rate
Rate
Current
Fair
of
Current
Average
Maturity
(Reported
(Reported
Sensitivity
Sensitivity
Type
Face
Value
Portfolio
Price
Coupon
GWAC
Age
(Months)
in Oct)
in Oct)
(-50 BPS)
(1)
(+50 BPS)
(1)
Pass Through RMBS
15yr 4.0
$
408
$
397
0.01%
$
97.35
4.00%
4.54%
 
53
 
 
126
 
0.7%
0.8%
$
7
$
(7)
15yr Total
408
397
0.01%
97.35
4.00%
4.54%
 
53
 
 
126
 
0.7%
0.8%
7
(7)
30yr 3.0
2,601,125
2,281,997
71.29%
87.73
3.00%
3.44%
 
17
 
 
340
 
5.4%
5.7%
72,204
(74,402)
30yr 3.5
219,548
201,102
6.28%
91.60
3.50%
4.03%
 
31
 
 
320
 
6.4%
9.7%
5,523
(5,658)
30yr 4.0
277,584
258,719
8.08%
93.20
4.00%
4.72%
 
15
 
 
343
 
8.2%
7.5%
6,389
(6,881)
30yr 4.5
371,742
354,747
11.08%
95.43
4.50%
5.45%
 
3
 
 
357
 
2.8%
5.0%
7,137
(7,952)
30yr 5.0
54,797
53,441
1.67%
97.53
5.00%
5.92%
 
3
 
 
358
 
2.2%
n/a
911
(1,049)
30yr Total
3,524,796
3,150,006
98.40%
89.37
3.30%
3.83%
 
16
 
 
341
 
5.3%
6.1%
92,164
(95,942)
Total Pass Through
 
RMBS
3,525,204
3,150,403
98.41%
89.37
3.30%
3.83%
 
16
 
 
341
 
5.3%
6.1%
92,171
(95,949)
Structured RMBS
IO 20yr 4.0
11,312
1,346
0.04%
11.90
4.00%
4.57%
 
129
 
 
104
 
11.2%
11.6%
6
(7)
IO 30yr 3.0
3,252
409
0.01%
12.58
3.00%
3.64%
 
92
 
 
258
 
0.7%
29.3%
(1)
(1)
IO 30yr 3.5
145,785
29,657
0.93%
20.34
3.50%
4.02%
 
44
 
 
310
 
8.7%
9.5%
(398)
274
IO 30yr 4.0
94,055
17,600
0.55%
18.71
4.00%
4.60%
 
97
 
 
254
 
7.8%
11.3%
(409)
305
IO 30yr 4.5
4,052
802
0.03%
19.79
4.50%
4.99%
 
147
 
 
200
 
10.7%
10.5%
(8)
5
IO 30yr 5.0
2,242
460
0.01%
20.52
5.00%
5.36%
 
147
 
 
200
 
1.6%
3.8%
(8)
6
IO Total
260,698
50,274
1.57%
19.28
3.72%
4.27%
 
70
 
 
278
 
8.3%
10.4%
(818)
582
IIO 30yr 4.0
32,609
537
0.02%
1.65
1.51%
4.40%
 
60
 
 
289
 
0.6%
9.9%
141
(116)
Total Structured
 
RMBS
293,307
50,811
1.59%
17.32
3.48%
4.29%
 
69
 
 
279
 
7.5%
10.4%
(677)
466
Total Mortgage Assets
$
3,818,511
$
3,201,214
100.00%
3.31%
3.86%
 
20
 
 
336
 
5.5%
6.5%
$
91,494
$
(95,483)
Interest
Interest
Average
Hedge
Rate
Rate
Notional
Period
Sensitivity
Sensitivity
Hedge
Balance
End
(-50 BPS)
(1)
(+50 BPS)
(1)
5-Year Treasury
 
Future
(2)
$
(750,500)
Dec-2022
$
(16,511)
$
18,056
10-Year Treasury
 
Ultra
(3)
(174,500)
Dec-2022
(10,293)
9,310
Swaps
(1,400,000)
Jul-2028
(32,894)
31,793
TBA
(475,000)
Nov-2022
(13,153)
13,841
Swaptions
(625,300)
Jan-2024
(6,490)
7,544
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Hedge Total
$
(3,425,300)
$
(79,341)
$
80,544
Rate Shock Grand Total
$
12,153
$
(14,939)
(1)
Modeled results from
 
Citigroup Global Markets
 
Inc. Yield
 
Book. Interest rate
 
shocks assume instantaneous
 
parallel shifts and
 
horizon prices are
 
calculated assuming
constant LIBOR option-adjusted spreads. These results are for illustrative
 
purposes only and actual results may differ materially.
(2)
Five-year Treasury futures contracts were valued
 
at prices of $107.51 at September 30, 2022.
 
The market value of the short position was $806.8 million.
(3)
Ten-year Treasury
 
Ultra futures contracts were valued at prices of $118.48
 
at September 30, 2022.
 
The market value of the short position was $206.8 million.
RMBS Assets by Agency
Investment Company Act of 1940 Whole Pool Test
($ in thousands)
($ in thousands)
Percentage
Percentage
Fair
of
Fair
of
Asset Category
Value
Portfolio
Asset Category
Value
Portfolio
As of September 30, 2022
As of September 30, 2022
Fannie Mae
$
2,231,699
69.7%
Non-Whole Pool Assets
$
140,243
4.4%
Freddie Mac
969,515
30.3%
Whole Pool Assets
3,060,971
95.6%
Total Mortgage Assets
$
3,201,214
100.0%
Total Mortgage Assets
$
3,201,214
100.0%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Borrowings By Counterparty
($ in thousands)
Weighted
Weighted
% of
Average
Average
Total
Total
Repo
Maturity
Longest
As of September 30, 2022
Borrowings
Debt
Rate
in Days
Maturity
Daiwa Securities America Inc.
$
305,822
9.9%
3.05%
25
11/3/2022
Merrill Lynch, Pierce, Fenner & Smith
296,050
9.4%
2.81%
15
10/27/2022
Mirae Asset Securities (USA) Inc.
286,438
9.1%
3.02%
52
1/30/2023
Cantor Fitzgerald & Co
234,245
7.5%
3.04%
36
11/16/2022
J.P.
 
Morgan Securities LLC
223,180
7.1%
2.90%
13
10/26/2022
Mitsubishi UFJ Securities (USA), Inc
206,189
6.6%
3.09%
33
11/8/2022
ED&F Man Capital Markets Inc
200,001
6.4%
3.12%
22
10/24/2022
ABN AMRO Bank N.V.
194,818
6.2%
2.89%
44
11/15/2022
RBC Capital Markets, LLC
173,422
5.5%
2.75%
7
10/13/2022
ING Financial Markets LLC
149,958
4.8%
3.14%
34
11/3/2022
Goldman, Sachs & Co
129,760
4.1%
3.14%
38
11/14/2022
Nomura Securities International, Inc.
123,060
3.9%
3.15%
39
11/14/2022
Santander Bank, N.A.
117,062
3.7%
3.14%
27
10/28/2022
Citigroup Global Markets Inc
111,594
3.6%
2.87%
28
11/3/2022
Wells Fargo Bank, N.A.
101,431
3.2%
2.88%
36
11/14/2022
Bank of Montreal
80,692
2.6%
3.14%
24
10/24/2022
StoneX Financial Inc.
74,348
2.4%
3.14%
24
10/24/2022
ASL Capital Markets Inc.
64,836
2.1%
3.15%
21
10/21/2022
South Street Securities, LLC
38,047
1.2%
3.12%
19
10/19/2022
Lucid Cash Fund USG LLC
22,908
0.7%
2.78%
13
10/13/2022
Total Borrowings
$
3,133,861
100.0%
3.00%
29
1/30/2023
Contact:
Orchid Island Capital, Inc.
Robert E. Cauley
3305 Flamingo Drive, Vero
 
Beach, Florida 32963
Telephone: (772)
 
231-1400