The cost of a management restructure has sent Goldfields Money into the red. After incurring A$357,395 in restructuring costs, the authorised deposit-taking institution made a loss of $95,187 for the year to June 2016.Goldfields Money, which demutualised in 2012, has been through some changes over the past year. In June last year it signed a memorandum of understanding with debt buyer Pioneer Credit (a 14 per cent shareholder) for the development and distribution of banking products.In September it terminated the contract of chief executive David Holden, as part of a renewal program. Holden received a payout in lieu of the 12 months' notice period stipulated in his employment contract.Simon Lyons, formerly of Macquarie and FIIG Securities, took the helm as CEO in January 2016.In April this year the ADI entered a joint venture with a fintech, Mooola, to develop a digital banking platform.Goldfields Money's interest revenue fell 7.4 per cent to $6.7 million over the last year. It originated $24.6 million of new loans during the year.The loan portfolio grew six per cent to $155 million, while deposits fell three per cent to $139 million.The impairment loss increased from $20,000 in 2014/15 to $50,000 over the year to June. The net interest margin rose 11 basis points to 1.98 per cent, echoing a margin trend from the AMP Bank result last week.