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10. Results of former affiliate
 6 Months Ended
Jun. 30, 2016
Notes to Financial Statements  
10. Investment In Affiliate

Summarized financial data of Siebert Brandford Shank Financial, LLC (“SBSF”) follows:

     
    June 30,  
    2015  
Six months ended:        
Total revenues   $ 13,969,000  
Net income     495,000  
Three months ended:        
Total revenues     9,919,000  
Net income     2,014,000  

 

Siebert’s 49% share of SBSF’s consolidated net income for the three and six months ended June 30, 2015, respectively amounted to $987,000 and $243,000.

 

Siebert charged SBS $6,000 for the three months ended June 30, 2016 and $25,000 for the three months ended June 30, 2015, and $23,000 for the six months ended June 30, 2016 and $50,000 for the six months ended June 30, 2015, respectively, for general and administrative services, which Siebert believes approximates the cost of furnishing such services.

 

Siebert made advances, net of collections, to SBSF of $10,000 during the six months ended June 30, 2016 and collections of $4,000, net of advances to SBSF during the six months ended June 30, 2015. Siebert received a distribution from SBSF of $86,000 during the six months ended June 30, 2015.