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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest income:        
Loans $ 12,246 $ 11,697 $ 24,311 $ 23,151
Investment securities 4,257 4,525 8,570 9,065
Other investments 1,590 1,070 3,203 1,797
Total interest income 18,093 17,292 36,084 34,013
Interest expense:        
Deposits 7,410 4,323 14,189 7,853
Advances from the Federal Home Loan Bank 1,806 1,832 3,616 2,886
Advances from the Federal Reserve Bank 594   1,189  
Securities sold under agreements to repurchase 45 45 91 91
Total interest expense 9,855 6,200 19,085 10,830
Net interest income 8,238 11,092 16,999 23,183
(Reversal of provision) provision for credit losses (26) 212 (7) 112
Net interest income after (reversal of provision) provision for credit losses 8,264 10,880 17,006 23,071
Noninterest income:        
Service and other fees 339 414 612 724
Income on bank-owned life insurance 249 207 495 410
Net gain on sale of loans   9   10
Other 72 60 146 135
Total noninterest income 660 690 1,253 1,279
Noninterest expense:        
Salaries and employee benefits 4,745 5,143 9,707 10,547
Occupancy 1,768 1,759 3,506 3,382
Equipment 1,329 1,303 2,652 2,615
Federal deposit insurance premiums 393 246 889 491
Other general and administrative expenses 1,749 1,059 3,290 2,088
Total noninterest expense 9,984 9,510 20,044 19,123
(Loss) income before income taxes (1,060) 2,060 (1,785) 5,227
Income tax (benefit) expense (285) 563 (528) 1,414
Net (loss) income $ (775) $ 1,497 $ (1,257) $ 3,813
Basic (loss) earnings per share (in dollars per share) $ (0.09) $ 0.17 $ (0.15) $ 0.44
Diluted (loss) earnings per share (in dollars per share) (0.09) 0.17 (0.15) 0.43
Cash dividends declared per common share (in dollars per share) $ 0.01 $ 0.23 $ 0.06 $ 0.46
Basic weighted-average shares outstanding (in shares) 8,605,801 8,620,643 8,596,969 8,697,213
Diluted weighted-average shares outstanding (in shares) 8,605,801 8,658,927 8,596,969 8,740,699