Shepherd’s Finance, LLC Reports Third Quarter 2019 Results

JACKSONVILLE, FL, Nov. 19, 2019 (GLOBE NEWSWIRE) — Shepherd’s Finance, LLC (“Shepherd’s” or the “Company”) announced its operating results for the quarter and nine months ended September 30, 2019.
2019 Financial Highlights to DateThe Chief Executive Officer of Shepherd’s, Daniel M. Wallach, commented: “Through the end of April 2019 we had experienced a great deal of growth in new loan balances; however, we lowered originations beginning in May 2019 to ensure we had ample liquidity to cover our unfunded commitments. We intend to increase originations in the fourth quarter of 2019 compared to the third quarter of 2019. In addition, we also focused on our nonperforming loan and foreclosed asset balances.” Mr. Wallach continued to state, “During the second and third quarters of 2019, we significantly decreased our foreclosed assets which negatively impacted our net income results for both quarters. We expect to see an increase in net income during the fourth quarter due primarily to the reduction of foreclosed asset balances.”Results of OperationsBalance Sheet ManagementInterest Rates for the Subordinated Notes Program – Shepherd’s offers the following interest rates for its public notes offering, effective as of October 15, 2019:

About Shepherd’s Finance, LLCShepherd’s Finance, LLC is headquartered in Jacksonville, Florida and is focused on commercial lending to participants in the residential construction and development industry. As of September 30, 2019, Shepherd’s Finance, LLC had approximately $51.9 million in loan assets with 260 construction and development loans in 21 states with 68 borrowers. For more information, please visit http://www.shepherdsfinance.com.Forward Looking StatementsThis press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “anticipate,” “estimate,” “believe,” “continue,” or other similar words. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from the expectations, intentions, beliefs, plans, or predictions of the future expressed or implied by such forward-looking statements. The Company undertakes no obligation to update these statements following the date of this press release, except as required by law. In addition, the Company, through its senior management, may make from time to time forward-looking public statements concerning the matters described herein. Such forward-looking statements are necessarily estimates reflecting the best judgment of the Company’s senior management based upon current information and involve a number of risks and uncertainties. Certain factors that could affect the accuracy of such forward-looking statements are identified in the public filings made by the Company with the Securities and Exchange Commission, and forward-looking statements contained in this press release or in other public statements of the Company or its senior management should be considered in light of those factors. This is neither an offer nor a solicitation to purchase securities.Shepherd’s Finance, LLC
Interim Condensed Consolidated Balance Sheets
Catherine LoftinShepherd’s Finance, LLC13241 Bartram Park Blvd, STE 2401 | Jacksonville, FL, 32258Direct (904) 518-3422 | Office (302) 752-2688[email protected] | www.shepherdsfinance.com
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