v3.25.2
CONSOLIDATED STATEMENTS OF INCOME (LOSS) (UNAUDITED) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Interest income:        
Loans, including fees $ 21,459 $ 19,414 $ 41,210 $ 37,642
Interest-bearing deposits in banks and other 1,046 1,013 1,980 1,972
Total interest income 22,505 20,427 43,190 39,614
Interest expense:        
Deposits 9,282 10,448 18,713 20,663
Borrowings 875 797 1,130 1,027
Total interest expense 10,157 11,245 19,843 21,690
Net interest income 12,348 9,182 23,347 17,924
Provision for credit losses 7,264 3,000 11,664 7,058
Net interest income after provision for credit losses 5,084 6,182 11,683 10,866
Noninterest income:        
Loan servicing income, net 484 805 1,220 1,600
Gain on sale of government guaranteed loans, net 6,136 5,595 13,463 13,684
Service charges and fees 473 452 922 896
Government guaranteed loans fair value gain (loss), net 2,442 3,202 1,687 6,507
Government guaranteed loan packaging fees 577 1,022 1,293 2,429
Other noninterest income 683 577 961 805
Total noninterest income 10,795 11,653 19,546 25,921
Noninterest expense:        
Salaries and benefits 8,113 7,829 16,111 15,834
Bonus, commissions, and incentives 262 659 333 2,230
Occupancy and equipment 1,579 1,273 3,213 2,383
Data processing 2,078 1,647 4,123 3,207
Marketing and business development 403 540 890 1,128
Professional services 782 877 1,514 2,226
Loan origination and collection 2,558 1,958 3,593 3,677
Employee recruiting and development 462 549 1,079 1,146
Regulatory assessments 352 279 691 561
Other noninterest expense 939 999 1,794 1,991
Total noninterest expense 17,528 16,610 33,341 34,383
Income (loss) from continuing operations before income taxes (1,649) 1,225 (2,112) 2,404
Income tax expense (benefit) from continuing operations (412) 349 (540) 645
Net income (loss) from continuing operations (1,237) 876 (1,572) 1,759
Loss from discontinued operations before income taxes 0 (14) 0 (92)
Income tax benefit from discontinued operations 0 (4) 0 (23)
Net loss from discontinued operations 0 (10) 0 (69)
Net income (loss) (1,237) 866 (1,572) 1,690
Preferred stock dividends 386 386 771 771
Net income available to (loss attributable to) common shareholders $ (1,623) $ 480 $ (2,343) $ 919
Basic earnings (loss) per common share:        
Continuing operations (in dollars per share) $ (0.39) $ 0.12 $ (0.57) $ 0.24
Discontinued operations (in dollars per share) 0 0 0 (0.02)
Total basic earnings (loss) per common share (in dollars per share) (0.39) 0.12 (0.57) 0.22
Diluted earnings (loss) per common share:        
Continuing operations (in dollars per share) (0.39) 0.12 (0.57) 0.24
Discontinued operations (in dollars per share) 0 0 0 (0.02)
Total diluted earnings (loss) per common share (in dollars per share) $ (0.39) $ 0.12 $ (0.57) $ 0.22