v3.25.2
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
Interest income:        
Interest on loans $ 1,614 $ 1,725 $ 3,902 $ 3,385
Interest on interest-bearing accounts 103 159 214 310
Total interest income 1,717 1,884 4,116 3,695
Interest expense:        
Debt certificates 1,147 1,118 2,292 2,300
Other debt   209   292
Total interest expense 1,147 1,327 2,292 2,592
Net interest income 570 557 1,824 1,103
Provision (credit) for expected credit losses 16 (200) (7) (253)
Net interest income after provision (credit) for expected credit losses 554 757 1,831 1,356
Non-interest income:        
Broker-dealer commissions and fees 201 168 360 343
Other income 226 100 283 137
Total non-interest income 427 268 643 480
Non-interest expenses:        
Salaries and benefits 495 508 1,014 1,035
Marketing and promotion 15 14 36 35
Office occupancy 26 19 55 67
Office operations and other expenses 390 420 859 814
Foreclosed assets 2   12 10
Legal and accounting 51 106 227 261
Total non-interest expenses 979 1,067 2,203 2,222
Income (loss) before provision for income taxes 2 (42) 271 (386)
Provision for income taxes and state LLC fees 5 5 10 10
Net income (loss) $ (3) $ (47) $ 261 $ (396)