v3.25.1
Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Interest income:    
Loans, including fees $ 1,800 $ 1,475
Securities    
Taxable 355 418
Tax-exempt 60 63
Federal funds sold and other 508 417
Time deposits with other financial institutions 18 23
FHLB Stock 9 9
Total interest income 2,750 2,405
Interest expense:    
Deposits 859 640
Other borrowings 60 60
Total interest expense 919 700
Net interest income 1,831 1,705
Reversal of provision for credit losses (37) (1)
Net interest income after reversal of provision for credit losses 1,868 1,706
Noninterest income:    
Gain on sale of mortgage loans 189 156
Rental income on office building 16 16
Service charges on deposits 59 61
Increase in cash surrender value of BOLI 56 53
Other non-interest income 14 26
Total noninterest income 334 312
Noninterest expense:    
Salaries and employee benefits 1,533 1,374
Equipment and occupancy 224 214
Data processing 222 195
Professional services 136 111
Advertising 42 84
Supervisory fees and assessments 38 36
Loan expenses 92 30
Deposit expenses 68 54
Director fees 48 48
Other non-interest expense 127 118
Total noninterest expense 2,530 2,264
Loss before income taxes (328) (246)
Income tax expense 0 0
Net loss $ (328) $ (246)
Loss per common share basic and diluted (in dollars per share) $ (0.07) $ (0.05)
Weighted average shares outstanding (in shares) 4,883,913 4,927,032

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