In millions, except per share items | Dec-31-21 | Dec-31-20 | Dec-31-19 |
| 10-K | 10-K | S-1/A |
Interest income: |
Interest income on loans | 7.0 | 7.8 | 7.9 |
Interest income on investments | 0.7 | 0.6 | |
| 7.7 | 8.5 | 9.0 |
Interest expense: |
Interest on deposits | 0.5 | 0.9 | |
Interest on borrowings | 0.3 | 0.8 | |
| 0.8 | 1.7 | 1.9 |
Net interest income | 6.9 | 6.8 | 7.1 |
Provision for loan losses | -0.7 | 1.0 | 0.1 |
Net interest income after provision for loan losses | 7.6 | 5.8 | 7.0 |
Deposit and loan fees | 0.6 | 0.6 | 0.6 |
Other non-interest income | 2.0 | 0.4 | 0.4 |
Total non-interest income | 2.6 | 1.0 | 1.0 |
Non-interest expenses | 7.8 | 7.9 | 6.3 |
Pre-tax income before non-recurring items | 2.4 | -1.2 | 1.7 |
Non-recurring items | 0.0 | 0.0 | |
Pre-tax income | 2.4 | -1.2 | 1.7 |
Income taxes | 0.5 | -0.5 | 0.3 |
Tax rate | 20.2% | 40.3% | 19.9% |
Net income | 1.9 | -0.7 | 1.3 |
Net margin | 18.9% | -10.4% | 16.7% |
|
Basic EPS | $0.40 | | |
Diluted EPS | $0.40 | | |
|
Shares outstanding (basic) | 4.9 | | |
Shares outstanding (diluted) | 4.9 | | |
|
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |