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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest income        
Loans $ 8,712 $ 7,266 $ 16,912 $ 14,029
Investment securities 905 719 1,837 1,446
Federal funds sold 252 114 455 207
Total interest income 9,869 8,099 19,204 15,682
Interest expense        
Deposits 2,452 1,186 4,548 1,810
Borrowed funds 807 789 1,650 1,383
Total interest expense 3,259 1,975 6,198 3,193
Net interest income 6,610 6,124 13,006 12,489
Provision for credit losses, after ASU 2016-13     150  
Net interest income after provision for credit losses 6,610 6,124 12,856 12,489
Noninterest income        
Service charges and fees 655 711 1,296 1,380
Mortgage banking income, net 552 386 1,402 864
Other 184 124 296 234
Total noninterest income (loss) 1,391 1,221 2,994 2,478
Noninterest expense        
Salaries and benefits 3,485 3,415 6,949 6,863
Occupancy 310 307 642 618
Equipment 302 280 580 565
Supplies 49 35 99 84
Data processing 482 492 921 931
Professional and outside services 411 346 829 720
Advertising and marketing 95 140 178 251
FDIC insurance premium 82 84 174 134
Other operating expense 723 733 1,195 1,423
Total noninterest expense 5,939 5,832 11,567 11,589
Income before income tax expense 2,062 1,513 4,283 3,378
Income tax expense 409 274 858 599
Net income $ 1,653 $ 1,239 $ 3,425 $ 2,779
Earnings (loss) per share, basic $ 1.11 $ 0.83 $ 2.29 $ 1.87
Earnings (loss) per share, diluted $ 1.11 $ 0.83 $ 2.29 $ 1.87