v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Income Statement [Abstract]    
Interest income from loans $ 8,754 $ 7,887
Interest income from limited liability company investments 858 1,942
Interest expense and amortization of deferred financing costs (6,059) (6,094)
Net interest income 3,553 3,735
Provision for credit losses related to loans held for investment (5,372) (1,052)
Change in valuation allowance related to loans held for sale 0 4
Net interest (loss) income after provision for credit losses related to loans held for investment and changes in valuation allowance related to loans held for sale (1,819) 2,687
Fee income from loans 1,292 1,425
Income from limited liability company investments 105 110
Other investment income 3 6
Loss on equity securities (140) (125)
Other income 143 72
Total other income 1,403 1,488
Operating expenses    
Compensation and employee benefits (2,138) (1,771)
General and administrative expenses (1,963) (1,355)
Transaction expenses (1,608) 0
Recovery of impairment loss on real estate 97 0
Gain on sale of investments in developmental real estate, real estate owned, and property and equipment, net 196 0
Other expenses (245) (145)
Total operating expenses (5,661) (3,271)
Net (loss) income (6,077) 904
Preferred stock dividends (1,120) (1,117)
Net loss attributable to common shareholders $ (7,197) $ (213)
Basic and diluted net loss per common share outstanding:    
Basic loss per common share (in dollars per share) $ (0.15) $ 0.00
Diluted loss per common share (in dollars per share) $ (0.15) $ 0.00
Weighted average number of common shares outstanding:    
Basic weighted average common shares outstanding (in shares) 47,178,193 46,784,744
Diluted weighted average common shares outstanding (in shares) 47,178,193 46,784,744