Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.23.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Interest income:    
Loans, including fees $ 3,618 $ 3,569
Securities    
Taxable 2,013 1,107
Tax-exempt 402 248
Federal funds sold and other 259 35
Time deposits with other financial institutions 41 66
FHLB stock 15 13
Total interest income 6,348 5,038
Interest expense:    
Deposits 764 940
Net interest income 5,584 4,098
Reversal of provision for loan losses (230) (23)
Net interest income after reversal of provision for loan losses 5,814 4,121
Noninterest income:    
Gain on sale of mortgage loans 106 410
Realized gains on sales 0 131
Rental income on office building 53 42
Service charges on deposits 291 289
Increase in cash surrender value of BOLI 178 181
Other 608 156
Total noninterest income 1,236 1,209
Noninterest expense:    
Salaries and employee benefits 3,846 3,141
Equipment and occupancy 658 665
Data processing 632 613
Professional services 500 139
Advertising 90 71
Supervisory fees and assessments 142 126
Loan expenses 86 129
Deposit expenses 203 183
Director fees 223 225
Other 497 307
Total noninterest expense 6,877 5,599
Income (losses) before income taxes 173 (269)
Income tax expense (benefit) 146 (214)
Net income (losses) $ 27 $ (55)
Basic and diluted earnings per share (in dollars per share) $ 0.01  
Weighted average shares outstanding (in shares) 4,729,236