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Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Interest and dividend income:    
Loans, including fees $ 12,594 $ 13,959
Securities, taxable 1,399 1,349
Other 245 187
Total interest and dividend income 14,238 15,495
Interest expense:    
Interest-bearing deposits 784 2,320
Borrowed funds 752 721
Total interest expense 1,536 3,041
Net interest income 12,702 12,454
Provision for loan losses 30 500
Net interest income after provision for loan losses 12,672 11,954
Noninterest income:    
Service charges and other fees 964 814
Loan servicing, net 1,157 546
Net gain on sale of loans 1,503 3,499
Net gain on sale of securities 12 1,023
Increase in cash surrender value of insurance 407 400
Unrealized gain on marketable equity securities 222 568
Other 5 (72)
Total noninterest income 4,270 6,778
Noninterest expense:    
Salaries and employee benefits 10,425 9,674
Foreclosed assets, net   (6)
Advertising and promotions 111 110
Data processing 801 761
Occupancy and equipment 1,410 1,361
FDIC assessment 163 112
Other 4,011 3,667
Total noninterest expense 16,921 15,679
Income before income taxes 21 3,053
Income (benefit) tax expense (64) 1,736
Net income $ 85 [1] $ 1,317 [2]
Earnings per share:    
Basic [3] $ 0.01 $ 0.28
Diluted [3] $ 0.01 [1] $ 0.28 [2]
Average common shares outstanding:    
Basic [3] 5,987,164 [1] 4,642,171 [2]
Diluted [3] 6,190,409 4,685,208
[1] Amounts related to periods prior to the date of Conversion (July 2021) have been restated to give the retroactive recognition to the exchange ratio applied in the Conversion (1.3163) (See Note 1).
[2] Amounts related to periods prior to the date of Conversion (July 2021) have not been restated to give the retroactive recognition to the exchange ratio applied in the Conversion (1.3163) (See Note 1).
[3] Amounts related to periods prior to the date of Conversion (July 2021) have not been restated to give the retroactive recognition to the exchange ratio applied in the Conversion (1.3163) (See Note 1). Refer to Note 18 Earnings Per Share for retroactive recognition given to the exchange ratio applied in the Conversion for the year ended December 31, 2020.