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Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
INTEREST AND DIVIDEND INCOME    
Loans receivable, including fees $ 36,396 $ 15,924
Investment securities and certificates of deposit:    
Taxable 2,175 873
Exempt from federal income tax 1,160 1,252
Other 533 447
Total interest and dividend income 40,264 18,496
INTEREST EXPENSE    
Deposits 5,337 2,091
Other borrowings 441 50
Subordinated debt 1,501 249
Total interest expense 7,279 2,390
NET INTEREST INCOME BEFORE PROVISION FOR LOAN LOSSES 32,985 16,106
Provision for loan losses 1,290 648
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 31,695 15,458
NONINTEREST INCOME    
Service charges on deposit accounts 832 733
Bank-owned life insurance 497 253
Net realized gains on the sales of debt securities, available for sale 13 74
Gain on sale of loans 753 316
Other 862 763
Total noninterest income 2,957 2,139
NONINTEREST EXPENSE    
Salaries and employee benefits 16,224 6,999
Occupancy 2,119 913
Equipment and data processing 3,047 1,437
Professional fees 1,236 685
FDIC insurance 640 231
Bank shares tax 786 434
Merger & system conversion related expenses 973 4,584
Other 2,807 2,214
Total noninterest expense 27,832 17,497
Income before income tax expense (benefit) 6,820 100
Income tax expense (benefit) 1,222 (189)
NET INCOME $ 5,598 $ 289
EARNINGS PER SHARE, BASIC $ 0.49 $ 0.04
EARNINGS PER SHARE, DILUTED $ 0.49 $ 0.04
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING,    
BASIC 11,310,386 6,879,658
DILUTED 11,310,386 7,250,463