In millions, except per share items | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 |
| 10-K | 10-K | 10-K | 10-K | S-1/A |
Interest income: |
Interest income on loans | 14.0 | 15.3 | 15.0 | 13.1 | 12.0 |
Interest income on investments | 1.3 | 1.6 | 1.7 | 2.1 | 1.8 |
| 15.4 | 17.2 | 16.8 | 15.3 | 13.8 |
Interest expense: |
Interest on deposits | 2.3 | 4.6 | 3.7 | 2.9 | |
Interest on borrowings | | | | | 0.3 |
| 3.0 | 4.9 | 4.2 | 3.4 | 2.7 |
Net interest income | 12.4 | 12.3 | 12.5 | 11.9 | 11.1 |
Provision for loan losses | 0.5 | -1.0 | | | |
Net interest income after provision for loan losses | 11.9 | 13.3 | 12.5 | 11.9 | 11.1 |
Gain on sale of investments, net | | | | | 0.2 |
Other non-interest income | 6.9 | 3.1 | 2.9 | 2.9 | |
Total non-interest income | 6.9 | 3.1 | 2.9 | 2.9 | 0.2 |
Non-interest expenses | 15.7 | 16.0 | 15.7 | 16.6 | 14.0 |
Pre-tax income before non-recurring items | 4.1 | 0.4 | -0.1 | -0.7 | 1.3 |
Non-recurring items | 1.0 | | 0.1 | | |
Asset impairment | | | | 1.1 | |
Pre-tax income | 3.1 | 0.4 | -0.2 | -1.8 | 1.3 |
Income taxes | 1.7 | 0.0 | -0.2 | -3.5 | 0.0 |
Tax rate | 56.9% | | 90.3% | 192.0% | 0.0% |
Net income | 1.3 | 0.4 | 0.0 | 1.7 | 1.3 |
Net margin | 7.0% | 2.7% | -0.1% | 11.2% | 11.1% |
|
Basic EPS | $281.10 | $95.46 | | | |
Diluted EPS | $0.28 | $0.10 | | | |
|
Shares outstanding (basic) | 0.0 | 0.0 | | | |
Shares outstanding (diluted) | 4.7 | 4.7 | | | |
|
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |