Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Operations

v3.25.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Interest income:    
Loans, including fees $ 6,785 $ 4,360
Securities    
Taxable 1,539 2,506
Tax-exempt 244 396
Federal funds sold and other 1,613 348
Time deposits with other financial institutions 85 94
FHLB stock 38 24
Total interest income 10,304 7,728
Interest expense:    
Deposits 3,000 1,336
Other borrowings 243 172
Total interest expense 3,243 1,508
Net interest income 7,061 6,220
Provision for credit losses 71 176
Net interest income after provision for credit losses 6,990 6,044
Noninterest income:    
Gain on sale of mortgage loans 1,245 32
Unrealized net holding (loss) gain on securities arising during period, realized loss on sales 0 (1,794)
Rental income on office building 64 64
Service charges on deposits 256 270
Increase in cash surrender value of BOLI 220 192
Other 156 86
Total noninterest income 1,941 (1,150)
Noninterest expense:    
Salaries and employee benefits 5,939 4,554
Equipment and occupancy 782 739
Data processing 884 684
Professional services 513 601
Advertising 286 104
Supervisory fees and assessments 142 140
Loan expenses 212 117
Deposit expenses 239 217
Director fees 215 216
Other 508 480
Total noninterest expense 9,720 7,852
Loss before income taxes (789) (2,958)
Income tax expense 0 999
Net loss $ (789) $ (3,957)
Basic and diluted loss per share (in dollars per share) $ (0.16) $ (0.79)
Weighted average shares outstanding (in shares) 4,911,461 5,004,498