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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Interest income:    
Interest on loans $ 9,812 $ 9,112
Interest on interest-bearing accounts 343 96
Total interest income 10,155 9,208
Interest expense:    
Term-debt 1,867 2,000
Notes payable 3,196 2,836
Total interest expense 5,063 4,836
Net interest income 5,092 4,372
Provision (credit) for loan losses (544) 666
Net interest income after provision for loan losses 5,636 3,706
Non-interest income:    
Broker-dealer commissions and fees 1,415 523
Other income 154 921
Total non-interest income 1,569 1,444
Non-interest expenses:    
Salaries and benefits 2,810 2,695
Marketing and promotion 275 140
Office occupancy 177 153
Office operations and other expenses 1,483 1,224
Foreclosed assets, net 97  
Legal and accounting 343 441
Total non-interest expenses 5,185 4,653
Income before provision for income taxes 2,020 497
Provision for income taxes and state LLC fees 19 20
Net income $ 2,001 $ 477