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Consolidated Statements of Operations and Comprehensive (Loss) Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Interest income:        
Interest and fees on loans receivable $ 3,841 $ 3,415 $ 7,956 $ 6,924
Interest on mortgage-backed and other securities 95 104 193 213
Other interest income 149 115 309 255
Total interest income 4,085 3,634 8,458 7,392
Interest expense:        
Interest on deposits 1,097 685 2,124 1,316
Interest on borrowings 526 377 1,059 730
Total interest expense 1,623 1,062 3,183 2,046
Net interest income 2,462 2,572 5,275 5,346
Loan loss provision recapture 158   348  
Net interest income after loan loss provision recapture 2,620 2,572 5,623 5,346
Non-interest income:        
Service charges 115 111 237 226
Gain on sale of loans   11   11
CDFI grant     233  
Other 24 48 45 64
Total non-interest income 139 170 515 301
Non-interest expense:        
Compensation and benefits 1,875 1,751 3,757 3,656
Occupancy expense 312 317 620 633
Information services 218 206 426 420
Professional services 235 183 574 371
Office services and supplies 67 66 135 148
REO expense (6) 24 25 86
Marketing expense 33 87 72 137
Corporate insurance 34 36 69 78
Amortization of investment in affordable housing limited partnership 49 49 98 97
Other 205 204 306 329
Total non-interest expense 3,022 2,923 6,082 5,955
(Loss) income before income taxes (263) (181) 56 (308)
Income tax benefit (128) (54) (86) (97)
Net (loss) income (135) (127) 142 (211)
Other comprehensive income (loss), net of tax:        
Unrealized gains (losses) on securities available-for-sale arising during the period 157 (76) 353 (360)
Income tax expense (benefit) 46 (23) 104 (107)
Other comprehensive income (loss), net of tax 111 (53) 249 (253)
Comprehensive (loss) income $ (24) $ (180) $ 391 $ (464)
(Loss) earnings per common share-basic $ (0.01) $ 0.00 $ 0.01 $ (0.01)
(Loss) earnings per common share-diluted $ (0.01) $ 0.00 $ 0.01 $ (0.01)