| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | |
|---|---|---|---|---|---|---|
INCOME | ||||||
INCOME | ||||||
Interest income | ||||||
112,416 | 108,181 | 91,424 | 70,688 | 47,700 | 6,940 | |
Interest expense | ||||||
59,325 | 53,335 | 39,101 | 25,573 | 11,499 | 771 | |
Net interest income | ||||||
53,091 | 54,846 | 52,323 | 45,115 | 36,201 | 6,169 | |
Provision for loan losses | ||||||
803 | 1,164 | 0 | 0 | - | - | |
Net interest income after provision for credit losses | ||||||
52,288 | 53,682 | 52,323 | 45,115 | - | - | |
Income/(Loss) from investments in affiliates | ||||||
1,332 | 762 | 707 | 558 | - | - | |
Loss on sale of mortgage loans | ||||||
7,000 | 0 | 0 | - | - | - | |
Income from investment in Manager | ||||||
- | - | - | - | 198 | 12 | |
Other income | ||||||
4,176 | 3,720 | 1,765 | 1,024 | 1,169 | 87 | |
Total income | ||||||
64,919 | 58,164 | 54,795 | 46,697 | 37,568 | 6,268 | |
EXPENSE | ||||||
Related party expense – loan servicing fees | ||||||
9,133 | 10,148 | 8,245 | 6,083 | 3,959 | 485 | |
Related party expense – management fee | ||||||
7,356 | 6,025 | 5,340 | 3,949 | 3,353 | 956 | |
Loan transaction expense | ||||||
328 | 389 | 1,471 | 1,135 | 1,631 | 503 | |
Professional fees | ||||||
2,550 | 2,179 | 2,340 | 1,484 | 1,430 | 277 | |
Real estate operating expenses | ||||||
3,685 | 3,252 | 2,630 | - | - | - | |
Other expense | ||||||
4,225 | 3,934 | 3,353 | - | - | - | |
Real estate operating expenses | ||||||
- | - | - | 2,553 | 415 | 24 | |
Other expense | ||||||
- | - | - | 2,019 | 986 | 273 | |
Total expense | ||||||
27,277 | 25,927 | 23,379 | 17,223 | 11,774 | 2,518 | |
Loss on debt extinguishment | ||||||
-429 | -836 | -1,131 | -565 | 0 | - | |
Income before provision for income taxes | ||||||
37,213 | 31,401 | 30,285 | 28,909 | 25,794 | 3,750 | |
Provision for income taxes (benefit) | ||||||
100 | 100 | 100 | 35 | 2 | - | |
Consolidated net income | ||||||
37,089 | 31,337 | 30,154 | 28,874 | 25,792 | 3,750 | |
Less: consolidated net income attributable to the non-controlling interest | ||||||
2,384 | 2,997 | 1,227 | 1,038 | 1,038 | 326 | |
Consolidated net income attributable to common stockholders | ||||||
34,705 | 28,340 | 28,927 | 27,836 | 24,754 | 3,424 | |
Basic earnings per common share (in dollars per share) | ||||||
1.74 | 1.50 | 1.58 | 1.65 | 1.68 | 0.41 | |
Diluted earnings per common share (in dollars per share) | ||||||
1.59 | 1.43 | 1.51 | 1.65 | 1.68 | 0.40 | |
Weighted Average Number of Shares Issued, Basic | ||||||
- | - | - | 16,742 | - | - | |
Weighted average shares - basic (in shares) | ||||||
19,710 | 18,642 | 18,074 | 16,742 | 14,711 | 8,360 | |
Weighted average shares - diluted (in shares) | ||||||
28,173 | 25,830 | 23,318 | 17,451 | 15,372 | 8,849 | |