Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations (Unaudited)

v3.23.1
Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Interest income:    
Loans, including fees $ 1,018 $ 843
Securities    
Taxable 658 325
Tax-exempt 102 89
Federal funds sold and other 52 29
Time deposits with other financial institutions 24 5
FHLB Stock 4 4
Total interest income 1,858 1,295
Interest expense:    
Deposits 221 191
Net interest income 1,637 1,104
Reversal of provision for credit losses (28) 0
Net interest income after reversal of provision for credit losses 1,665 1,104
Noninterest income:    
Gain on sale of mortgage loans 2 31
Rental income on office building 16 11
Service charges on deposits 64 71
Increase in cash surrender value of BOLI 46 43
Non-interest income other 19 32
Total noninterest income 147 188
Noninterest expense:    
Salaries and employee benefits 928 903
Equipment and occupancy 166 181
Data processing 161 148
Professional services 121 133
Advertising 24 26
Supervisory fees and assessments 35 41
Loan expenses 21 29
Deposit expenses 52 34
Director fees 56 54
Non-interest expense other 106 98
Total noninterest expense 1,670 1,647
Income (losses) before income taxes 142 (355)
Income tax benefit (28) (76)
Net income (losses) $ 170 $ (279)
Earnings (loss) per common share basic and diluted (in dollars per share) $ 0.03 $ (0.07)
Weighted average shares outstanding (in shares) 4,989,933 3,974,386