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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
INTEREST INCOME        
Interest and fees on loans $ 2,089 $ 2,568 $ 4,256 $ 5,205
Interest and dividends on securities 794 698 1,492 1,203
Interest on deposits with banks and federal funds sold 147 24 197 43
Total Interest Income 3,030 3,290 5,945 6,451
INTEREST EXPENSE        
Interest on deposits 120 158 244 325
Interest on short-term borrowings 88 116 191 232
Interest on long-term borrowings 19   26  
Total Interest Expense 227 274 461 557
Net Interest Income 2,803 3,016 5,484 5,894
Release for credit losses (116) (67) (217) (471)
Net interest income after release 2,919 3,083 5,701 6,365
NONINTEREST INCOME        
Gain on securities sold/redeemed 1   1  
Gain on sale of OREO   14   14
Income on life insurance 39 39 76 77
Total Noninterest Income 260 280 514 527
NONINTEREST EXPENSE        
Salary and benefits 1,516 1,588 3,136 3,218
Occupancy and equipment expenses 316 304 647 606
Legal, accounting and other professional fees 260 183 585 395
Data processing and item processing services 235 248 461 505
FDIC insurance costs 29 40 54 83
Advertising and marketing related expenses 21 24 43 45
Loan collection costs 20 22 (55) 28
Telephone costs 41 54 85 131
Other expenses 397 329 663 610
Total Noninterest Expenses 2,835 2,792 5,619 5,621
Income before income taxes 344 571 596 1,271
Income tax expense 35 91 56 197
NET INCOME $ 309 $ 480 $ 540 $ 1,074
Basic net income per share of common stock (in dollars per share) $ 0.11 $ 0.17 $ 0.19 $ 0.38
Diluted net income per share of common stock (in dollars per share) $ 0.08 $ 0.21 $ 0.08 $ 0.21
Service charges on deposit accounts        
NONINTEREST INCOME        
Service charges on deposit accounts $ 40 $ 37 $ 82 $ 77
Other fees and commissions        
NONINTEREST INCOME        
Other fees and commissions $ 180 $ 190 $ 355 $ 359