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Segment Reporting
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Reporting

22. Segment Reporting

 

The Company operates as a wholly-owned subsidiary of the Parent and is engaged in a single line of business as a securities broker-dealer providing comprehensive brokerage services including custody and clearance of retail accounts, principal transaction and proprietary trading, market making, and securities lending. The Company’s CODM, its Chief Financial Officer, reviews operating and financial information using net income as the key measure to evaluate the results of the business, predominately in the forecasting process, to manage the Company. The CODM has determined that all activities contribute to the core brokerage business and the Company operates as a single reportable segment. The Company’s operations constitute a single operating segment and therefore, a single reportable segment, because the CODM manages the business activities using information of the Company as a whole. The accounting policies used to measure the profit and loss of the segment are the same as those described in the summary of significant accounting policies.

 

   Year Ended December 31, 
   2024   2023 
Revenue        
Retail  $62,388,000   $54,019,000 
Stock loan   19,249,000    16,172,000 
Market making   2,255,000    1,304,000 
Consolidated overhead   9,000    19,000 
Total Revenue   83,901,000    71,514,000 
           
Expenses          
Retail   21,649,000    18,063,000 
Stock loan   9,776,000    8,281,000 
Market making   1,403,000    1,582,000 
Consolidated overhead   33,605,000    25,462,000 
Total Expenses   66,433,000    53,388,000 
           
Operating income  $17,468,000   $18,126,000