v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues        
Interest income from loans $ 7,482 $ 11,754 $ 15,370 $ 24,395
Fee income from loans 1,771 2,083 3,196 4,699
Income from limited liability company investments 978 1,217 3,030 2,413
Other investment income 12 70 17 386
Other income 532 22 604 57
Total revenues 10,775 15,146 22,217 31,950
Operating expenses        
Interest and amortization of deferred financing costs 6,139 6,973 12,233 14,442
Compensation and employee benefits 1,821 1,365 3,592 3,308
General and administrative expenses 1,304 1,258 2,659 2,496
Provision for credit losses related to loans held for investment 925 8,503 1,977 9,868
Change in valuation allowance related to loans held for sale (1,043) 0 (1,047) 0
Gain on sale of real estate owned and property and equipment, net (131) (275) (131) (264)
Other expenses 694 439 839 943
Total operating expenses 9,709 18,263 20,122 30,793
Operating income (loss) 1,066 (3,117) 2,095 1,157
Other income, net        
Gain on equity securities 821 61 696 458
Total other income, net 821 61 696 458
Net income (loss) 1,887 (3,056) 2,791 1,615
Preferred stock dividends (1,118) (1,068) (2,235) (2,091)
Net income (loss) attributable to common shareholders $ 769 $ (4,124) $ 556 $ (476)
Earnings per Common Share        
Basic earnings (loss) per Common Share (in dollars per share) $ 0.02 $ (0.09) $ 0.01 $ (0.01)
Diluted earnings (loss) per Common Share (in dollars per share) $ 0.02 $ (0.09) $ 0.01 $ (0.01)
Weighted average Common Shares outstanding        
Basic weighted average Common Shares outstanding (in shares) 46,875,187 47,504,875 46,830,215 47,415,630
Diluted weighted average Common Shares outstanding (in shares) 46,875,187 47,504,875 46,830,215 47,415,630