XML 14 R4.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
INTEREST AND DIVIDEND INCOME        
Loans receivable, including fees $ 4,367 $ 3,815 $ 8,097 $ 5,981
Other 31 52 66 201
Total interest and dividend income 4,398 3,867 8,163 6,182
INTEREST EXPENSE        
Deposits 365 832 783 1,801
Short-term Borrowings 8   10 1
Other Borrowings 61 102 74 102
Subordinated Debt 254   505  
Total interest expense 688 934 1,372 1,904
NET INTEREST INCOME BEFORE PROVISION FOR LOAN LOSSES 3,710 2,933 6,791 4,278
Provision for loan losses 410 115 617 2,065
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 3,300 2,818 6,174 2,213
NONINTEREST INCOME        
Service charges on deposit accounts 36 13 64 25
Bank-owned life insurance 34 36 68 73
Other 89 71 137 99
Total noninterest income 159 120 269 197
NONINTEREST EXPENSE        
Salaries and employee benefits 1,840 1,639 3,746 2,937
Occupancy 200 226 403 422
Equipment and data processing 277 197 493 382
Professional fees 98 123 201 238
FDIC insurance 41 107 63 161
Bank Shares Tax 88 57 177 114
Advertising 103 13 180 33
Merger Related Expenses 129 0 560 0
Other 228 137 406 281
Total noninterest expense 3,004 2,499 6,229 4,568
Income (Loss) before income tax (benefit) expense 455 439 214 (2,158)
Income tax (benefit) expense 53 0 (2,953) 0
NET INCOME (LOSS) $ 402 $ 439 $ 3,167 $ (2,158)
EARNINGS (LOSS) PER SHARE, BASIC $ 0.08 $ 0.10 $ 0.64 $ (0.47)
EARNINGS (LOSS) PER SHARE, DILUTED $ 0.08 $ 0.09 $ 0.60 $ (0.47)
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING,        
BASIC 4,968,089 4,545,297 4,967,780 4,545,297
DILUTED 5,290,002 4,621,230 5,257,216 4,545,297