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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Interest income:        
Interest on loans $ 2,055 $ 2,742 $ 4,234 $ 5,279
Interest on interest-bearing accounts 31 104 117 162
Total interest income 2,086 2,846 4,351 5,441
Interest expense:        
Term-debt 437 471 883 944
Investor notes payable 685 847 1,449 1,613
Total interest expense 1,122 1,318 2,332 2,557
Net interest income 964 1,528 2,019 2,884
Provision (credit) for loan losses 11 (322) 63 (337)
Net interest income after provision (credit) for loan losses 953 1,850 1,956 3,221
Non-interest income:        
Broker-dealer commissions and fees 112 684 287 812
Other income 64 19 145 68
Total non-interest income 176 703 432 880
Non-interest expenses:        
Salaries and benefits 595 715 1,379 1,385
Marketing and promotion 10 141 18 201
Office occupancy 44 44 89 88
Office operations and other expenses 318 413 651 721
Foreclosed assets, net     9  
Legal and accounting 68 78 188 179
Total non-interest expenses 1,035 1,391 2,334 2,574
Income before provision for income taxes 94 1,162 54 1,527
Provision for income taxes and state LLC fees 6 5 11 9
Net income $ 88 $ 1,157 $ 43 $ 1,518