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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
INCOME    
Interest income $ 27,286 $ 29,452
Interest expense (13,070) (15,685)
Net interest income 14,216 13,767
Provision for credit losses (5,109) (154)
Net interest income after provision for credit losses 9,107 13,613
Income/(Loss) from investments in affiliates (1,112) 461
Loss on sale of mortgage loans (705) 0
Other income 747 1,110
Total income 8,037 15,184
EXPENSE    
Related party expense – loan servicing fees 2,014 2,506
Related party expense – management fee 1,799 1,688
Loan transaction expense (103) 69
Professional fees 805 862
Real estate operating expenses 912 786
Other expense 1,025 1,081
Total expense 6,452 6,992
Loss on debt extinguishment 408 0
Income before provision for income taxes 1,177 8,192
Provision for income taxes (benefit) (319) 71
Consolidated net income 1,496 8,121
Less: consolidated net income attributable to the non-controlling interest 1,096 791
Consolidated net income attributable to common stockholders $ 400 $ 7,330
Basic earnings per common share (in dollars per share) $ 0.02 $ 0.39
Diluted earnings per common share (in dollars per share) $ 0.02 $ 0.36
Weighted average shares - basic (in shares) 22,070,354 18,811,713
Weighted average shares - diluted (in shares) 22,189,984 27,829,448