Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations (Unaudited)

v3.22.2
Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest income:        
Loans, including fees $ 883 $ 876 $ 1,726 $ 1,809
Securities        
Taxable 437 288 762 578
Tax-exempt 105 61 194 121
Federal funds sold and other 73 5 102 10
Time deposits with other financial institutions 6 16 11 48
FHLB Stock 3 3 7 6
Total interest income 1,507 1,249 2,802 2,572
Interest expense:        
Deposits 191 237 382 491
Net interest income 1,316 1,012 2,420 2,081
(Reversal of) Provision for loan losses (16) 17 (16) 17
Net interest income after provision for loan losses 1,332 995 2,436 2,064
Noninterest income:        
Gain on sale of mortgage loans 38 81 69 245
Rental income on office building 10 10 21 21
Service charges on deposits 75 74 146 141
Increase in cash surrender value of BOLI 44 44 87 88
Other 522 66 554 103
Total noninterest income 689 275 877 598
Noninterest expense:        
Salaries and employee benefits 1,057 822 2,010 1,691
Equipment and occupancy 161 156 342 341
Data processing 154 154 302 328
Professional services 137 47 270 112
Advertising 12 14 38 38
Supervisory fees and assessments 37 31 78 63
Loan expenses 20 31 49 72
Deposit expenses 54 50 88 95
Foreclosure and other real estate owned expenses 0 8 0 8
Other 200 83 302 165
Total noninterest expense 1,832 1,396 3,479 2,913
Income (Loss) before income taxes 189 (126) (166) (251)
Income tax expense (benefit) 40 (193) (36) (237)
Net income (loss) $ 149 $ 67 $ (130) $ (14)
Earnings (loss) per common share basic and diluted (in dollars per share) $ 0.03   $ (0.03)  
Weighted average shares outstanding (in shares) 4,971,930   4,475,914