XML 17 R5.htm IDEA: XBRL DOCUMENT v3.23.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Interest and Dividend Income      
Interest and fees on loans $ 40,823 $ 30,115 $ 35,835
Interest on investment securities 2,307 1,924 1,460
Dividends on investment securities 384 223 399
Other interest income 498 89 209
Total interest and dividend income 44,012 32,351 37,903
Interest Expense      
Interest on deposits 5,300 2,243 9,154
Interest on Federal Home Loan Bank borrowings 3,475 2,986 2,671
Interest on senior debt 866 913 915
Interest on subordinated debt 1,066 933 991
Interest on note payable and other 46 15 19
Total interest expense 10,753 7,090 13,750
Net interest income 33,259 25,261 24,153
Provision (credit) for loan losses 1,885 (500) 2,170
Net interest income after provision (credit) for loan losses 31,374 25,761 21,983
Non-interest Income      
Loan application, inspection and processing fees 386 257 223
Deposit fees and service charges 256 251 321
Gains on sales of loans 1,461 1,886 566
Rental income 566 543 523
Gain on sale of investment securities 0 76 0
Other income 936 1,410 346
Total non-interest income 3,605 4,423 1,979
Non-interest Expense      
Salaries and benefits 15,506 11,089 14,323
Occupancy and equipment expense 3,428 3,430 3,513
Data processing expense 1,185 1,451 1,571
Professional and other outside services 2,664 3,155 2,828
Project expenses, net 133 1,882 818
Advertising and promotional expense 232 235 454
Loan administration and processing expense 234 134 174
Regulatory assessments 817 907 1,477
Insurance expense, net 271 280 285
Communications, stationary and supplies 616 604 476
Other operating expense 2,136 2,004 2,199
Total non-interest expense 27,222 25,171 28,118
Income (loss) before income taxes 7,757 5,013 (4,156)
Provision (benefit) for income taxes 1,596 (81) (337)
Net income (loss) $ 6,161 $ 5,094 $ (3,819)
Basic earnings (loss) per share (usd per share) $ 1.56 $ 1.29 $ (0.97)
Diluted earnings (loss) per share (usd per share) $ 1.55 $ 1.29 $ (0.97)