XML 15 R4.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Interest income:        
Interest on loans $ 2,004 $ 2,340 $ 6,238 $ 7,618
Interest on interest-bearing accounts 26 88 142 250
Total interest income 2,030 2,428 6,380 7,868
Interest expense:        
Term-debt 427 468 1,310 1,412
Investor notes payable 670 803 2,119 2,416
Total interest expense 1,097 1,271 3,429 3,828
Net interest income 933 1,157 2,951 4,040
Provision (credit) for loan losses 132 (83) 195 (421)
Net interest income after provision (credit) for loan losses 801 1,240 2,756 4,461
Non-interest income:        
Broker-dealer commissions and fees 183 407 470 1,219
Other income 83 38 228 106
Gain on debt extinguishment 2,400   2,400  
Total non-interest income 2,666 445 3,098 1,325
Non-interest expenses:        
Salaries and benefits 811 693 2,191 2,078
Marketing and promotion 206 58 224 259
Office occupancy 46 44 134 132
Office operations and other expenses 343 392 994 1,113
Foreclosed assets, net   11 8 11
Legal and accounting 65 83 253 261
Total non-interest expenses 1,471 1,281 3,804 3,854
Income before provision for income taxes 1,996 404 2,050 1,932
Provision for income taxes and state LLC fees 4 5 15 14
Net income $ 1,992 $ 399 $ 2,035 $ 1,918