XML 16 R4.htm IDEA: XBRL DOCUMENT v3.22.2
Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest income:        
Loans, including fees $ 14,053 $ 11,538 $ 27,035 $ 23,406
Investment securities 2,510 1,968 4,839 3,812
Interest-bearing deposits in financial institutions 121 23 152 39
Total interest income 16,684 13,529 32,026 27,257
Interest expense:        
Interest-bearing deposits 17 15 33 29
Savings and money market accounts 615 523 1,166 1,071
Time deposits 271 379 530 933
Federal Home Loan Bank advances 139 138 276 275
Total interest expense 1,042 1,055 2,005 2,308
Net interest income before provision for credit losses 15,642 12,474 30,021 24,949
Provision for credit losses 705   705 (160)
Net interest income after provision for credit losses 14,937 12,474 29,316 25,109
Non-interest income:        
Service fees 1,083 903 1,983 1,792
Gain on sale of securities available for sale, net (3) 187 18 249
Gain on sale of loans held for sale, net 22 23 356 987
Loan settlement     161  
Other non-interest income 515 403 1,044 809
Total non-interest income 1,617 1,516 3,562 3,837
Non-interest expense:        
Salaries and employee benefits 5,913 5,213 11,788 10,491
Occupancy 1,251 1,411 2,521 2,798
Regulatory assessment and fees 226 195 439 373
Consulting and legal fees 398 373 915 558
Network and information technology services 448 332 835 840
Other operating expense 1,315 1,150 2,665 2,291
Total non -interest expense 9,551 8,674 19,163 17,351
Income before income tax expense 7,003 5,316 13,715 11,595
Income tax expense 1,708 1,263 3,566 2,761
Net income 5,295 4,053 10,149 8,834
Less: Preferred stock dividends   754   1,535
Net income available to common stockholders 5,295 3,299 10,149 7,299
Common Class A [Member]        
Non-interest expense:        
Net income available to common stockholders $ 5,295 $ 3,299 $ 10,149 $ 7,299
Per share information:        
Net income (loss) per share, basic [1],[2] $ 0.26 $ 0.65 $ 0.51 $ 1.43
Net income (loss) per share, diluted [1],[2] $ 0.26 $ 0.64 $ 0.50 $ 1.41
Common Class B [Member]        
Non-interest expense:        
Net income available to common stockholders   $ 3,299   $ 7,299
Per share information:        
Net income (loss) per share, basic [2]   $ 0.13   $ 0.29
Net income (loss) per share, diluted [2]   $ 0.13   $ 0.29
[1] <div></div>
[2] <div>(1) For further details on the allocation of net income available to common stockholders and per share information, see Note ##eps "Earnings per Share".</div>