Velocity Financial, Inc. (VEL) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16
	10-K	10-K	10-K	10-K	10-K	10-K	S-1/A
Interest income on loans	240.3	182.0	167.3	157.5	124.7
Total interest income	240.3	182.0	167.3	157.5	124.7	97.8	78.4
Total interest expense				14.6	13.3
Net interest income	240.3	182.0	167.3	59.0	48.8	36.5	27.6
Provision for loan losses						0.4	1.5
Net interest income after provision for loan losses	240.3	182.0	167.3	59.0	48.8	36.1	26.1
Total non-interest income	11.9	8.2	5.9	2.7	2.6
Non-interest expenses	59.7	44.7	45.6	35.1	32.2
Pre-tax income	44.6	39.8	23.1	25.4	19.2	14.0	6.8
Income taxes	12.0	10.6	5.4	8.1	11.6	0.0	0.0
Tax rate	27.0%	26.6%	23.1%	31.9%	60.4%	0.0%	0.0%
Net income	32.2	29.2	17.8	17.3	7.6	14.0	6.8
Net margin	12.8%	15.4%	10.3%	28.0%	14.9%	37.3%	24.3%

Basic EPS	$1.01	$1.28	$0.89
Diluted EPS	$0.94	$0.86	$0.89

Shares outstanding (basic)	31.9	22.8	20.1
Shares outstanding (diluted)	34.1	34.0	20.1

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.