v3.25.2
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Interest and dividend income:            
Loans, including fees $ 38,650 $ 44,036 $ 42,644 $ 77,577 $ 87,758 $ 81,533
Mortgage-backed securities 765 297 184 1,326 602 370
Other investment securities 1,057 1,006 1,070 2,025 1,981 2,190
FHLB stock and other interest earning assets 2,709 4,106 3,339 6,445 8,389 5,496
Total interest income 43,181 49,445 47,237 87,373 98,730 89,589
Deposits:            
Demand 5,584 5,349 4,190 11,002 10,606 7,344
Savings and club 217 152 143 368 318 261
Certificates of deposit 9,170 14,571 8,474 19,932 29,554 14,927
Total deposits 14,971 20,072 12,807 31,302 40,478 22,532
Borrowings 5,108 5,734 7,441 10,964 11,470 12,597
Total interest expense 20,079 25,806 20,248 42,266 51,948 35,129
Net interest income 23,102 23,639 26,989 45,107 46,782 54,460
Provision for credit losses 4,891 2,438 1,350 25,736 4,526 1,972
Net interest income after provision for credit losses 18,211 21,201 25,639 19,371 42,256 52,488
Non-interest (loss) income:            
Fees and service charges 1,305 1,119 1,442 2,478 2,334 2,540
BOLI income 786 671 267 1,394 1,346 688
(Loss) gain on sales of loans   (4,851)     (4,806) 6
Realized and unrealized losses on equity investments (108) (222) (669) (223) (92) (3,896)
Other 93 49 78 218 93 116
Total non-interest income (loss) 2,076 (3,234) 1,118 3,867 (1,125) (546)
Non-interest expense:            
Salaries and employee benefits 7,713 6,992 7,711 15,116 13,973 15,329
Occupancy and equipment 2,502 2,529 2,560 5,225 5,173 5,112
Data processing and communications 2,046 1,672 1,795 3,890 3,525 3,460
Professional fees 767 604 622 1,459 1,199 1,188
Director fees 313 254 270 731 531 535
Regulatory assessments 804 953 796 1,513 2,095 1,332
Advertising and promotional 216 253 350 395 469 628
Other real estate owned, net     1     2
Other 907 730 601 1,599 1,860 974
Total non-interest expense 15,268 13,987 14,706 29,928 28,825 28,560
Income (Loss) before income tax provision 5,019 3,980 12,051 (6,690) 12,306 23,382
Income tax provision (benefit) 1,455 1,163 3,447 (1,930) 3,623 6,672
Net Income (Loss) 3,564 2,817 8,604 (4,760) 8,683 16,710
Preferred stock dividends 482 448 174 964 882 347
Net Income (Loss) available to common stockholders $ 3,082 $ 2,369 $ 8,430 $ (5,724) $ 7,801 $ 16,363
Net Income (Loss) per common share-basic and diluted            
Basic $ 0.18 $ 0.14 $ 0.50 $ (0.33) $ 0.46 $ 0.97
Diluted $ 0.18 $ 0.14 $ 0.50 $ (0.33) $ 0.46 $ 0.96
Weighted average number of common shares outstanding            
Basic 17,175 17,005 16,824 17,144 16,968 16,886
Diluted 17,175 17,005 16,831 17,144 16,968 17,010