v3.24.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Interest income:    
Loans, including fees $ 4,360 $ 3,618
Securities    
Taxable 2,506 2,013
Tax-exempt 396 402
Federal funds sold and other 348 259
Time deposits with other financial institutions 94 41
FHLB stock 24 15
Total interest income 7,728 6,348
Interest expense:    
Deposits 1,336 764
Other borrowings 172 0
Total interest expense 1,508 764
Net interest income 6,220 5,584
Provision for (reversal of) credit losses 176 (230)
Net interest income after provision for (reversal of) credit losses 6,044 5,814
Noninterest income:    
Gain on sale of mortgage loans 32 106
Loss on sale of securities (1,794) (0)
Rental income on office building 64 53
Service charges on deposits 270 291
Increase in cash surrender value of BOLI 192 178
Other 86 608
Total noninterest income (1,150) 1,236
Noninterest expense:    
Salaries and employee benefits 4,554 3,846
Equipment and occupancy 739 658
Data processing 684 632
Professional services 601 500
Advertising 104 90
Supervisory fees and assessments 140 142
Loan expenses 117 86
Deposit expenses 217 203
Director fees 216 223
Other 480 497
Total noninterest expense 7,852 6,877
(Loss) income before income taxes (2,958) 173
Income tax expense (benefit) 999 146
Net (loss) income $ (3,957) $ 27
Basic and diluted (loss) earnings per share (in dollars per share) $ (0.79) $ 0.01
Weighted average shares outstanding (in shares) 5,004,498 4,729,236

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