v3.25.2
Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Interest and dividend income:        
Interest and fees on loans $ 20,085 $ 20,311 $ 39,392 $ 40,380
Interest and dividends on debt securities available-for-sale 231 243 491 480
Interest on short-term investments 984 1,318 1,997 3,047
Total interest and dividend income 21,300 21,872 41,880 43,907
Interest expense:        
Interest on deposits 7,261 9,607 14,630 18,947
Interest on short-term borrowings 482 281 788 459
Interest on long-term borrowings 30 31 60 62
Total interest expense 7,773 9,919 15,478 19,468
Net interest and dividend income 13,527 11,953 26,402 24,439
Credit loss (benefit) expense - loans (384) 6,467 (314) 924
Credit loss expense (benefit) - off-balance sheet credit exposures 6 (9) (76) (47)
Total credit loss (benefit) expense (378) 6,458 (390) 877
Net interest and dividend income after credit loss (benefit) expense 13,905 5,495 26,792 23,562
Noninterest income:        
Bank owned life insurance income 335 319 662 621
Other income 764 190 826 261
Total noninterest income 2,231 1,523 3,611 2,879
Noninterest expense:        
Salaries and employee benefits 7,338 7,293 14,914 15,438
Occupancy expense 376 407 824 850
Equipment expense 120 160 264 312
Deposit insurance 294 321 626 654
Data processing 410 402 831 815
Marketing expense 62 76 107 94
Professional fees 1,124 984 1,693 2,298
Directors' compensation 197 177 392 351
Software depreciation and implementation 532 584 1,085 1,127
Insurance expense 224 303 445 604
Service fees 371 234 689 476
Other 1,043 653 1,653 1,310
Total noninterest expense 12,091 11,594 23,523 24,329
Income (loss) before income tax expense 4,045 (4,576) 6,880 2,112
Income tax expense (benefit) 1,221 (1,268) 1,886 439
Net income (loss) $ 2,824 $ (3,308) $ 4,994 $ 1,673
Earnings (loss) per share:        
Basic (in dollars per share) $ 0.17 $ (0.2) $ 0.3 $ 0.1
Diluted (in dollars per share) $ 0.17 $ (0.2) $ 0.29 $ 0.1
Weighted Average Shares:        
Basic (in shares) 16,860,744 16,706,793 16,841,577 16,688,122
Diluted (in shares) 16,954,078 16,706,793 16,938,788 16,723,763
Customer Service Fees [Member]        
Noninterest income:        
Charges and fees $ 690 $ 665 $ 1,405 $ 1,339
Other Service Fees [Member]        
Noninterest income:        
Charges and fees $ 442 $ 349 $ 718 $ 658