XML 16 R4.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Interest and dividend income:    
Loans, including fees $ 13,584 $ 12,594
Securities, taxable 2,343 1,399
Other 511 245
Total interest and dividend income 16,438 14,238
Interest expense:    
Interest-bearing deposits 1,116 784
Borrowed funds 866 752
Other interest-bearing funds 9 0
Total interest expense 1,991 1,536
Net interest income 14,447 12,702
Provision for loan losses 222 30
Net interest income after provision for loan losses 14,225 12,672
Noninterest income:    
Service charges and other fees 962 964
Loan servicing, net 695 1,157
Net gain on sale of loans 310 1,503
Net gain on sale of securities 0 12
Increase in cash surrender value of insurance 424 407
Unrealized (loss) gain on marketable equity securities (714) 222
Other 60 5
Total noninterest income 1,737 4,270
Noninterest expense:    
Salaries and employee benefits 9,778 10,425
Advertising and promotions 184 111
Data processing 847 801
Occupancy and equipment 1,324 1,410
FDIC assessment 135 163
Other 4,013 4,011
Total noninterest expense 16,281 16,921
(Loss) income before income taxes (319) 21
Income tax benefit (171) (64)
Net (loss) income $ (148) $ 85
(Loss) earnings per share:    
Basic $ (0.03) $ 0.01
Diluted [1],[2] $ (0.03) $ 0.01
Average common shares outstanding:    
Basic 5,775,140 5,987,164
Diluted [1],[2] 5,775,140 6,190,409
[1] Diluted loss per share and average shares outstanding excludes all common shares if their effect is anti-dilutive.
[2] For 2022, the effect of the stock options was anti-dilutive and therefore no dilutive shares are included in the weighted average shares outstanding or diluted (loss) calculations for 2022.