SUMMARIZED QUARTERLY RESULTS

12 Months Ended

Dec. 31, 2017

Quarterly Financial Information Disclosure [Abstract]

Summarized Quarterly Results [Text Block]

NOTE 14. QUARTERLY RESULTS (UNAUDITED)

The following is a presentation of the quarterly results of operations for the years ended December 31, 2017 and 2016.

(in thousands, except per share information)
	Quarter Ended
	March 31, 2017		June 30, 2017		September 30, 2017		December 31, 2017
Interest income	$	32,311	$	34,579	$	38,974	$	40,098
Interest expense		(6,715)		(8,763)		(12,638)		(13,555)
Net interest income		25,596		25,816		26,336		26,543
Losses		(20,727)		(32,597)		(8,254)		(29,540)
Net portfolio income (loss)		4,869		(6,781)		18,082		(2,997)
Expenses:
Management fees and overhead expenses		1,670		1,788		1,940		2,033
Other expenses		750		1,074		959		952
Total expenses		2,420		2,862		2,899		2,985
Net income (loss)	$	2,449	$	(9,643)	$	15,183	$	(5,982)
Basic and diluted net income (loss) per share	$	0.07	$	(0.26)	$	0.33	$	(0.12)
Weighted Average Shares Outstanding		33,069		37,211		45,355		48,310
Dividends declared per share	$	0.42	$	0.42	$	0.42	$	0.42
	Quarter Ended
	March 31, 2016		June 30, 2016		September 30, 2016		December 31, 2016
Interest income	$	20,466	$	19,235	$	22,358	$	25,068
Interest expense		(3,319)		(3,330)		(3,979)		(4,976)
Net interest income		17,147		15,905		18,379		20,092
(Losses) gains		(19,558)		(7,308)		4,418		(38,003)
Net portfolio (loss) income		(2,411)		8,597		22,797		(17,911)
Expenses:
Management fees and overhead expenses		1,269		1,274		1,388		1,557
Other expenses		911		860		883		951
Total expenses		2,180		2,134		2,271		2,508
Net (loss) income	$	(4,591)	$	6,463	$	20,526	$	(20,419)
Basic and diluted net (loss) income per share	$	(0.21)	$	0.29	$	0.85	$	(0.72)
Weighted Average Shares Outstanding	$	21,756	$	21,921	$	24,133	$	28,495
Dividends declared per share	$	0.42	$	0.42	$	0.42	$	0.42

Earnings per share (EPS) in each quarter is computed using the weighted-average number of shares outstanding during that quarter while EPS for the full year is computed using the weighted-average number of shares outstanding during the year. The sum of the four quarters’ EPS may not equal the full year EPS.