Content analysis
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H.S. junior Avg
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New words:
affiliated, ASU, computed, conserve, de, delisting, expanded, facility, FASB, fewer, fulfill, Guide, headcount, landlord, lender, lodging, nil, receipt, recoverability, regain, remote, revolving, short, travel, unable, unrestricted
Removed:
August, debt, Department, enter, favor, free, greater, opposition, oral, Regulation, represent, senior
Financial report summary
?Management Discussion
- Loan interest income decreased to $34,000 and $0.3 million for the three and six months ended June 30, 2024, respectively, compared to $1.6 million and $3.6 million for the three and six months ended June 30, 2023. The reduction was driven by our decision in the third quarter of 2023 to liquidate our loan portfolio, which resulted in us holding fewer loans during the 2024 period versus the 2023 period.
- Loan fee income was $8,000 and $14,000 for the three and six months ended June 30, 2024, respectively, compared to $0.3 million and $0.4 million for the three and six months ended June 30, 2023, respectively. The reduction was driven by our decision in the third quarter of 2023 to liquidate our loan portfolio and curtail our loan origination activity, which resulted in us earning less loan fee income during the 2024 period vs the 2023 period.
- We recognized no realized gains on loans held for sale, net, for three and six months ended June 30, 2024, respectively. Realized gains of $10,000 and $20,000 were recognized on loans held for sale, net, for the three and six months ended June 30, 2023, respectively.