XML 16 R4.htm IDEA: XBRL DOCUMENT v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues        
Interest income from loans $ 8,326 $ 11,420 $ 23,696 $ 35,816
Fee income from loans 1,964 1,843 5,160 6,543
Income from limited liability company investments 1,098 1,495 4,128 3,907
Other investment income 85 3 102 388
Other income 527 24 1,131 81
Total revenues 12,000 14,785 34,217 46,735
Operating expenses        
Interest and amortization of deferred financing costs 6,565 6,836 18,798 21,278
Compensation and employee benefits 2,334 1,745 5,926 5,053
General and administrative expenses 1,679 2,301 4,338 4,797
Provision for credit losses related to loans held for investment 812 8,096 2,788 17,964
Change in valuation allowance related to loans held for sale 33 0 (1,014) 0
Impairment loss on real estate owned 185 320 185 397
Loss (gain) on sale of real estate owned and property and equipment, net 312 (30) 181 (294)
Other expenses 447 339 1,287 1,205
Total operating expenses 12,367 19,607 32,489 50,400
Operating (loss) income (367) (4,822) 1,728 (3,665)
Other income, net        
Gain (loss) on equity securities 1,364 (229) 2,060 229
Total other income, net 1,364 (229) 2,060 229
Net income (loss) 997 (5,051) 3,788 (3,436)
Preferred stock dividends (1,117) (1,095) (3,352) (3,187)
Net (loss) income attributable to common shareholders $ (120) $ (6,146) $ 436 $ (6,623)
Earnings per Common Share        
Basic earnings (loss) per common share (in dollars per share) $ 0.00 $ (0.13) $ 0.01 $ (0.14)
Diluted earnings (loss) per common share (in dollars per share) $ 0.00 $ (0.13) $ 0.01 $ (0.14)
Weighted average Common Shares outstanding        
Basic weighted average common shares outstanding (in shares) 46,902,151 47,339,635 46,854,457 47,390,113
Diluted weighted average common shares outstanding (in shares) 46,902,151 47,339,635 46,854,457 47,390,113