Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Operations (Unaudited)

v3.26.1
Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Interest income:    
Loans, including fees $ 1,818 $ 1,800
Securities    
Taxable 405 355
Tax-exempt 60 60
Federal funds sold and other 285 508
Time deposits with other financial institutions 11 18
FHLB Stock 6 9
Total interest income 2,585 2,750
Interest expense:    
Deposits 728 859
Other borrowings 0 60
Total interest expense 728 919
Net interest income 1,857 1,831
Reversal of provision for credit losses (26) (37)
Net interest income after reversal of provision for credit losses 1,883 1,868
Noninterest income:    
Gain on sale of mortgage loans 475 189
Rental income on office building 16 16
Service charges on deposits 59 59
Increase in cash surrender value of BOLI 60 56
Other non-interest income 45 14
Total noninterest income 655 334
Noninterest expense:    
Salaries and employee benefits 1,611 1,533
Equipment and occupancy 238 224
Data processing 258 222
Professional services 89 136
Advertising 24 42
Supervisory fees and assessments 33 38
Loan expenses 67 92
Deposit expenses 58 68
Director fees 56 48
Other non-interest expense 143 127
Total noninterest expense 2,577 2,530
Loss before income taxes (39) (328)
Income tax expense 0 0
Net loss $ (39) $ (328)
Loss per common share basic and diluted (in dollars per share) $ (0.01) $ (0.07)
Weighted average shares outstanding (in shares) 4,917,167 4,883,913