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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
[1]
Revenue    
Commissions and fees $ 20,179,000 $ 9,750,000
Margin interest, marketing and distribution fees 10,183,000 14,710,000
Principal transactions 11,850,000 9,018,000
Interest income 4,012,000 4,235,000
Market making 2,042,000 1,744,000
Stock borrow / stock loan 4,045,000 1,607,000
Advisory fees 1,142,000 801,000
Other income 1,419,000 912,000
Total Revenue 54,872,000 42,777,000
Expenses    
Employee compensation and benefits 28,502,000 19,965,000
Clearing fees, including execution costs 5,107,000 3,346,000
Technology and communications 4,622,000 1,870,000
Other general and administrative 2,364,000 3,861,000
Data processing 2,797,000 2,081,000
Rent and occupancy 2,767,000 2,570,000
Professional fees 2,864,000 3,575,000
Depreciation and amortization 1,566,000 1,002,000
Referral fees 738,000 86,000
Interest expense 349,000 135,000
Advertising and promotion 2,000
Total Expenses 51,676,000 38,493,000
Income before provision for income taxes 3,196,000 4,284,000
Provision for income taxes 221,000 1,048,000
Net income $ 2,975,000 $ 3,236,000
Net income per share of common stock Basic and diluted $ 0.10 $ 0.11
Weighted average shares outstanding Basic and diluted 30,637,794 30,455,962
[1] Statement of income for the year ended December 31, 2019 represents the pro forma combination of Siebert and StockCross balances. See "Note 3 - Acquisitions" for additional detail.