Income Statement

Financial Highlights
3/31/2017
3/31/2018
6/30/2018
12/31/2018
Revenue ($000)
Interest Income 325 379 361 1,251
Interest Expense 1,610 2,254 2,365 9,506
Net Interest Income (1,285) (1,875) (2,004) (8,255)
Lease and Rental Revenue 7,317 6,463 6,824 27,638
Gain on Sale of Loans, before Fees 0 0 0 0
Commitment and Origination Fees 0 0 0 0
Gain on Sale of Loans (FAS 140) 0 0 0 0
Net Loan Servicing Fees 0 0 0 0
Other Loan Fees & Charges 0 0 0 0
Loan Fees & Charges 0 0 0 0
Gain on Sale of Servicing 0 0 0 0
Credit Card Income 0 0 0 0
Total Policy Income 0 0 0 0
Merchandise and Equipment Sales 311 (8) 18 (3,409)
Partnership Income 0 0 0 0
Other Noninterest Income 0 1,051 580 1,637
Nonrecurring Revenue 0 0 0 0
Revenue 6,343 5,631 5,418 17,610
Expenses ($000)
Provision for Loan Losses 0 0 0 0
Occupancy & Equipment NA NA NA NA
Compensation & Benefits 0 0 0 592
Foreclosure & Repo 0 0 0 0
Credit Card Fraud Losses 0 0 0 0
Cost of Goods Sold NA NA NA NA
Lease Equipment Depreciation 2,936 2,942 3,150 12,637
Marketing and Promotion Expense NA NA NA NA
Amrt of Intang & Goodwill Impair 0 0 0 0
Other Expense 2,365 2,018 2,282 10,423
Nonrecurring Expense 0 200 64 3,012
Total Expense 5,301 5,160 5,497 26,664
Net Income ($000)
Net Income before Taxes 1,043 471 (79) (9,054)
Provision for Taxes 401 154 3 (973)
Effective Tax Rate(%) 38.45 32.70 NM NM
Total Minority Interest Expense 0 0 0 0
Trust Preferred Distributions 0 0 0 0
Net Income before Extra 642 317 (81) (8,081)
Extraordinary Items 0 0 0 0
Net Income 642 317 (81) (8,081)
Net Income Attributable to Noncontrolling Int 0 0 0 0
Net Income Attributable to Parent 642 317 (81) (8,081)
Preferred Dividends 0 0 0 0
Other Preferred Dividends after Net Income 0 0 0 0
Net Income Avail to Common 642 317 (81) (8,081)
Comprehensive Income ($000)
Net Income 642 317 (81) (8,081)
Preferred Dividend Adjustment to Comprehensive Inc 0 0 0 0
Change in Unrealized Gain 0 0 0 0
Change in Foreign Currency Translations 0 0 0 0
Pension Fund Liability Adjustments 0 0 0 0
Change in Fair Value of Effective Hedges 0 0 0 0
Total Other Comprehensive Income 0 0 0 0
Comprehensive Income 642 317 (81) (8,081)
Comprehensive Income: Noncontrolling Interests 0 0 0 0
Comprehensive Income: Parent Company 642 317 (81) (8,081)
Share and Per Share Info ($)
Basic EPS before Extra 0.41 0.22 (0.06) (5.58)
Basic EPS after Extra 0.41 0.22 (0.06) (5.58)
Avg Basic Shares Out(actual) 1,550,032 1,416,699 1,416,699 1,449,261
Diluted EPS before Extra 0.41 0.22 (0.06) (5.58)
Diluted EPS after Extraordinary 0.41 0.22 (0.06) (5.58)
Common Dividends Declared per Share 0 0 0 0
Avg Diluted Shares Out(actual) 1,550,032 1,416,699 1,416,699 1,449,261
EBITDA/ Share 3.57 3.93 4.03 9.08
Income Ratios (%)
Net Interest Income/ Total Rev (20.26) (33.30) (36.99) (46.88)
Gain on Sale of Loans/ Revenue 0 0 0 0
Servicing and Loan Fees/ Revenue 0 0 0 0
Compensation/ Expense 0 0 0 2.22
Net Income/ Total Revenue 10.12 5.63 (1.50) (45.89)
NIBT/ Total Revenue 16.44 8.36 (1.46) (51.41)
EBITDA/ Interest Expense(x) 3.47 2.51 2.30 1.38
Efficiency Ratio 83.57 88.08 100.28 134.31
Data shown on this page is extracted directly from the company’s documents. S&P makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, S&P, as always, stands by its commitment to the quality of the data.
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