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Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Interest income:    
Loans $ 65,685 $ 52,279
Taxable investment income 12,990 9,678
Non-taxable investment income 430 456
Total interest income 79,105 62,413
Interest expense:    
Deposits 24,116 5,738
Borrowed funds 13,070 4,832
Total interest expense 37,186 10,570
Net interest income 41,919 51,843
Release of provision for credit losses / release of provision for loan losses (441) (1,001)
Net interest income after release of provision for credit losses / release of provision for loan losses 42,360 52,844
Non-interest income:    
Fees and service charges 1,164 2,156
Gain on securities, net 20 14
Gain on sale of loans 231 0
Other income 390 494
Total non-interest income 1,805 2,664
Non-interest expense:    
Compensation and benefits 28,439 29,247
Occupancy and equipment 8,350 7,625
Data processing 6,119 5,754
Advertising 354 1,061
Professional services 3,021 4,117
Release of provision for commitments and letters of credit 0 (311)
Federal deposit insurance 799 381
Other expense 4,480 4,900
Total non-interest expense 51,562 52,774
(Loss) income before income tax expense (7,397) 2,734
Income tax expense 0 338
Net (loss) income $ (7,397) $ 2,396
Basic (loss) earnings per share (in dollars per share) $ (0.31) $ 0.09
Diluted (loss) earnings per share (in dollars per share) $ (0.31) $ 0.09
Weighted average shares outstanding-basic (in shares) 23,925,724 26,165,841
Weighted average shares outstanding-diluted (in shares) 23,925,724 26,270,864