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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Dec. 31, 2021
Dec. 31, 2020
INTEREST AND DIVIDEND INCOME            
Loans receivable, including fees $ 8,114 $ 2,695 $ 15,877 $ 5,371 $ 15,924 $ 11,494
Investment securities and certificates of deposit:            
Taxable 587 299 863 612 873 1,409
Exempt from federal income tax 298 302 589 607 1,252 1,221
Other 96 37 149 67 447 167
Total interest and dividend income 9,095 3,333 17,478 6,657 18,496 14,291
INTEREST EXPENSE            
Deposits 818 462 1,483 966 2,091 2,658
Other Borrowings 2 4 24 11 50 59
Subordinated Debt 422   641 0 249  
Total interest expense 1,242 466 2,148 977 2,390 2,717
NET INTEREST INCOME BEFORE PROVISION FOR LOAN LOSSES 7,853 2,867 15,330 5,680 16,106 11,574
Provision for loan losses 395 44 675 91 648 184
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 7,458 2,823 14,655 5,589 15,458 11,390
NONINTEREST INCOME            
Service charges on deposit accounts 218 147 428 341 733 743
Bank-owned life insurance 114 50 225 95 253 186
Net realized gains on the sales of debt securities, available for sale 0   13 0 74 110
Gain on sale of secondary market mortgage loans / Gain on sale of loans         316 358
Gain on sale of loans 153 81 333 271    
Other 211 366 409 507 763 357
Total noninterest income 696 644 1,408 1,214 2,139 1,754
NONINTEREST EXPENSE            
Salaries and employee benefits 3,722 1,143 7,378 2,246 6,999 4,544
Occupancy 433 113 907 275 913 447
Equipment and data processing 595 230 1,192 468 1,340 1,188
Professional fees 307 70 535 293 685 538
FDIC insurance 138 29 342 59 231 73
Bank shares tax 201 86 384 173 434 294
Merger Related Expenses         4,584  
Other 846 421 1,604 616 2,311 1,222
Total noninterest expense 6,242 2,092 12,342 4,130 17,497 8,306
Income before income tax expense 1,912 1,375 3,721 2,673 100 4,838
Income tax expense 306 202 591 375 (189) 645
NET INCOME $ 1,606 $ 1,173 $ 3,130 $ 2,298 $ 289 $ 4,193
EARNINGS PER SHARE, BASIC $ 0.16 $ 0.21 $ 0.32 $ 0.4 $ 0.04 $ 0.74
EARNINGS PER SHARE, DILUTED 0.16 0.21 0.31 0.4 $ 0.04 $ 0.74
DIVIDENDS PAID PER SHARE $ 0.075 $ 0.04 $ 0.15 $ 0.08    
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING,            
BASIC 9,836,984 5,691,686 9,831,739 5,691,686 6,879,658 5,691,686
DILUTED 9,913,477 5,691,686 9,983,742 5,691,686 7,250,463 5,691,686