diff --git a/src/init.cpp b/src/init.cpp
index 12f29a4ca..1e8564201 100644
--- a/src/init.cpp
+++ b/src/init.cpp
@@ -1512,7 +1512,9 @@ bool AppInitMain(boost::thread_group& threadGroup, CScheduler& scheduler)
         LogPrintf("Shutdown requested. Exiting.\n");
         return false;
     }
-    LogPrintf(" block index %15dms\n", GetTimeMillis() - nStart);
+    if (fLoaded) {
+        LogPrintf(" block index %15dms\n", GetTimeMillis() - nStart);
+    }
 
     fs::path est_path = GetDataDir() / FEE_ESTIMATES_FILENAME;
     CAutoFile est_filein(fsbridge::fopen(est_path, "rb"), SER_DISK, CLIENT_VERSION);