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Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Interest income:        
Loans receivable $ 10,549 $ 7,473 $ 29,171 $ 21,389
Securities available for sale:        
Mortgage-backed and related 566 691 1,818 2,126
Other marketable 269 120 612 289
Other 143 347 336 449
Total interest income 11,527 8,631 31,937 24,253
Interest expense:        
Deposits 3,614 340 7,966 910
Customer escrows 4 0 59 0
Advances and other borrowings 106 0 318 5
Total interest expense 3,724 340 8,343 915
Net interest income 7,803 8,291 23,594 23,338
Provision for credit losses [1] 318 579 566 941
Net interest income after provision for credit losses 7,485 7,712 23,028 22,397
Non-interest income:        
Gain on sales of loans 463 414 1,092 2,096
Other 474 413 1,318 1,264
Total non-interest income 2,184 2,054 6,086 6,945
Non-interest expense:        
Compensation and benefits 4,455 4,355 13,719 12,805
Occupancy and equipment 893 918 2,757 2,865
Data processing 566 513 1,616 1,443
Professional services 245 306 774 1,095
Other 1,122 1,082 3,565 3,201
Total non-interest expense 7,281 7,174 22,431 21,409
Income before income tax expense 2,388 2,592 6,683 7,933
Income tax expense (benefit) 890 761 2,130 2,326
Net income 1,498 1,831 4,553 5,607
Other comprehensive income (loss), net of tax (1,688) (7,189) 1,263 (23,458)
Comprehensive income (loss) available to common stockholders $ (190) $ (5,358) $ 5,816 $ (17,851)
Basic earnings per common share (in dollars per share) $ 0.34 $ 0.42 $ 1.05 $ 1.28
Diluted earnings per common share (in dollars per share) $ 0.34 $ 0.42 $ 1.04 $ 1.27
Financial Service [Member]        
Non-interest income:        
Revenue from Contract with Customer $ 857 $ 821 $ 2,495 $ 2,397
Bank Servicing [Member]        
Non-interest income:        
Revenue from Contract with Customer $ 390 $ 406 $ 1,181 $ 1,188
[1] The Company adopted Accounting Standard Update (ASU) 2016-13 as of January 1, 2023. The 2022 amount presented is calculated under the prior accounting standard.