v3.26.1
Consolidated Statements of Operations - USD ($)
shares in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2024
Interest and dividend income:            
Loans, including fees $ 35,856,000 $ 38,650,000 $ 44,036,000 $ 71,734,000 $ 77,577,000 $ 87,758,000
Mortgage-backed securities 960,000 765,000 297,000 1,799,000 1,326,000 602,000
Other investment securities 1,113,000 1,057,000 1,006,000 2,103,000 2,025,000 1,981,000
FHLB stock and other interest earning assets 2,532,000 2,709,000 4,106,000 5,227,000 6,445,000 8,389,000
Total interest income 40,461,000 43,181,000 49,445,000 80,863,000 87,373,000 98,730,000
Deposits:            
Demand 5,413,000 5,584,000 5,349,000 10,583,000 11,002,000 10,606,000
Savings and club 112,000 217,000 152,000 248,000 368,000 318,000
Certificates of deposit 8,266,000 9,170,000 14,571,000 16,858,000 19,932,000 29,554,000
Total deposits 13,791,000 14,971,000 20,072,000 27,689,000 31,302,000 40,478,000
Borrowings 3,325,000 5,108,000 5,734,000 6,992,000 10,964,000 11,470,000
Total interest expense 17,116,000 20,079,000 25,806,000 34,681,000 42,266,000 51,948,000
Net interest income 23,345,000 23,102,000 23,639,000 46,182,000 45,107,000 46,782,000
Provision for credit losses on loans 18,987,000 4,891,000 2,438,000 21,775,000 25,736,000 4,526,000
Net interest income after provision for credit losses on loans 4,358,000 18,211,000 21,201,000 24,407,000 19,371,000 42,256,000
Non-interest (loss) income:            
Fees and service charges 1,313,000 1,305,000 1,119,000 2,504,000 2,478,000 2,334,000
BOLI income 917,000 786,000 671,000 1,863,000 1,394,000 1,346,000
(Loss) gain on sales of loans (2,607,000)   (4,851,000) (2,600,000)   (4,806,000)
Realized and unrealized losses on equity investments (248,000) (108,000) (222,000) (341,000) (223,000) (92,000)
Other 155,000 93,000 49,000 205,000 218,000 93,000
Total non-interest (loss) income (470,000) 2,076,000 (3,234,000) 1,631,000 3,867,000 (1,125,000)
Non-interest expense:            
Salaries and employee benefits 9,395,000 7,713,000 6,992,000 17,722,000 15,116,000 13,973,000
Occupancy and equipment 2,562,000 2,502,000 2,529,000 5,286,000 5,225,000 5,173,000
Data processing and communications 1,968,000 2,046,000 1,672,000 3,991,000 3,890,000 3,525,000
Professional fees 562,000 767,000 604,000 1,189,000 1,459,000 1,199,000
Director fees 244,000 313,000 254,000 490,000 731,000 531,000
Regulatory assessments 650,000 804,000 953,000 1,415,000 1,513,000 2,095,000
Advertising and promotional 489,000 216,000 253,000 689,000 395,000 469,000
Other real estate owned, net 130,000     280,000    
Impairment of goodwill 5,253,000     5,253,000    
Other 879,000 907,000 730,000 1,368,000 1,599,000 1,860,000
Total non-interest expense 22,132,000 15,268,000 13,987,000 37,683,000 29,928,000 28,825,000
(Loss) Income before income tax provision (18,244,000) 5,019,000 3,980,000 (11,645,000) (6,690,000) 12,306,000
Income tax (benefit) provision (3,468,000) 1,455,000 1,163,000 (1,773,000) (1,930,000) 3,623,000
Net (Loss) Income (14,776,000) 3,564,000 2,817,000 (9,872,000) (4,760,000) 8,683,000
Preferred stock dividends   482,000 448,000 482,000 964,000 882,000
Net (Loss) Income available to common stockholders $ (14,776,000) $ 3,082,000 $ 2,369,000 $ (10,354,000) $ (5,724,000) $ 7,801,000
Net (Loss) Income per common share-basic and diluted            
Basic $ (0.85) $ 0.18 $ 0.14 $ (0.60) $ (0.33) $ 0.46
Diluted $ (0.85) $ 0.18 $ 0.14 $ (0.60) $ (0.33) $ 0.46
Weighted average number of common shares outstanding            
Basic 17,306 17,175 17,005 17,273 17,144 16,968
Diluted 17,306 17,175 17,005 17,273 17,144 16,968