Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations (Unaudited)

v3.23.2
Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Interest income:        
Loans, including fees $ 1,022 $ 883 $ 2,040 $ 1,726
Securities        
Taxable 632 437 1,290 762
Tax-exempt 100 105 202 194
Federal funds sold and other 59 73 111 102
Time deposits with other financial institutions 30 6 54 11
FHLB Stock 5 3 9 7
Total interest income 1,848 1,507 3,706 2,802
Interest expense:        
Deposits 262 191 483 382
Other borrowings 7 0 7 0
Total interest expense 269 191 490 382
Net interest income 1,579 1,316 3,216 2,420
Provision for (reversal of) credit losses 30 (16) 2 (16)
Net interest income after provision for credit losses 1,549 1,332 3,214 2,436
Noninterest income:        
Gain on sale of mortgage loans 7 38 9 69
Rental income on office building 16 10 32 21
Service charges on deposits 69 75 133 146
Increase in cash surrender value of BOLI 46 44 92 87
Other non-interest income 9 522 28 554
Total noninterest income 147 689 294 877
Noninterest expense:        
Salaries and employee benefits 1,005 1,001 1,933 1,904
Equipment and occupancy 167 161 333 342
Data processing 161 154 322 302
Professional services 123 137 244 270
Advertising 27 12 51 38
Supervisory fees and assessments 39 37 74 78
Loan expenses 23 20 44 49
Deposit expenses 55 54 107 88
Director fees 56 59 112 113
Other non-interest expense 131 197 237 295
Total noninterest expense 1,787 1,832 3,457 3,479
(Loss) income before income taxes (91) 189 51 (166)
Income tax expense (benefit) 35 40 7 (36)
Net (loss) income $ (126) $ 149 $ 44 $ (130)
Earnings (loss) income per common share basic and diluted (in dollars per share) $ (0.03) $ 0.03 $ 0.01 $ (0.03)
Weighted average shares outstanding (in shares) 4,976,127 4,971,930 4,982,992 4,475,914