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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Interest income:    
Loans $ 11,656 $ 12,262
Taxable investment income 1,817 1,545
Non-taxable investment income 121 135
Total interest income 13,594 13,942
Interest expense:    
Deposits 882 2,818
Borrowed funds 773 1,525
Total interest expense 1,655 4,343
Net interest income 11,939 9,599
Recovery of provision for loan losses (952) (808)
Net interest income after (recovery of) provision for loan losses 12,891 10,407
Non-interest income:    
Fees and service charges 800 526
Other 127 140
Total non-interest income 927 666
Non-interest expense:    
Compensation and employee benefits 6,924 6,021
Occupancy and equipment 1,881 1,953
Loss on assets held for sale 0 21
Data processing 1,478 1,767
Advertising 519 470
Professional services 1,291 1,397
Directors fees 136 140
Recovery of provision for commitment and letters of credit (170) (231)
Federal deposit insurance 78 125
Other 1,079 706
Total non-interest expenses 13,216 12,369
Income (loss) before income tax expense (benefit) 602 (1,296)
Income tax expense (benefit) 49 (551)
Net income (loss) $ 553 $ (745)
Earnings per common share, basic $ 0.02  
Earnings per common share, diluted $ 0.02  
Weighted average number of shares outstanding, basic 26,343,508  
Weighted average number of shares outstanding, diluted 26,343,508