Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations (Unaudited)

v3.22.1
Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Interest income:    
Loans, including fees $ 843 $ 933
Securities    
Taxable 325 290
Tax-exempt 89 60
Federal funds sold and other 29 5
Time deposits with other financial institutions 5 32
FHLB Stock 4 3
Total interest income 1,295 1,323
Interest expense:    
Deposits 191 254
Net interest income 1,104 1,069
Provision for loan losses 0 0
Net interest income after provision for loan losses 1,104 1,069
Noninterest income:    
Gain on sale of mortgage loans 31 164
Rental income on office building 11 11
Service charges on deposits 71 67
Increase in cash surrender value of BOLI 43 44
Other 32 37
Total noninterest income 188 323
Noninterest expense:    
Salaries and employee benefits 953 869
Equipment and occupancy 181 185
Data processing 148 174
Professional services 133 65
Advertising 26 24
Supervisory fees and assessments 41 32
Loan expenses 29 41
Deposit expenses 34 45
Other 102 82
Total noninterest expense 1,647 1,517
Losses before income taxes (355) (125)
Income tax benefit (76) (44)
Net losses $ (279) $ (81)
Earnings per common share basic and diluted (in dollars per share) $ (0.07)  
Weighted average shares outstanding (in shares) 3,974,386