v3.26.1
Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
INTEREST INCOME        
Interest and fees on loans $ 25,381 $ 30,730 $ 51,090 $ 61,884
Interest on securities, deposit accounts, and federal funds sold 3,465 4,006 7,145 8,202
Total interest income 28,846 34,736 58,235 70,086
INTEREST EXPENSE        
Interest on deposits 10,583 12,802 21,343 26,994
Interest on subordinated notes 273 646 564 1,382
Interest on FHLB borrowings 1,447 1,447 2,879 2,879
Total interest expense 12,303 14,895 24,786 31,255
Net interest income 16,543 19,841 33,449 38,831
Provision for (recovery of) credit losses - loans 3,500 (700) 2,900 (700)
Provision for credit losses - unfunded commitments 550 0 550 0
Total provision for (recovery of) credit losses 4,050 (700) 3,450 (700)
Net interest income after provision for (recovery of) credit losses 12,493 20,541 29,999 39,531
NONINTEREST INCOME        
Service charges on deposit accounts 642 721 1,274 1,178
Bank and purchase card interchange income, net 620 626 1,165 1,193
Wealth and trust management fees 520 409 984 863
Residential mortgage banking income 0 117 0 841
Loss on sale of securities available for sale (123) 0 (123) 0
Other 111 1,371 818 2,241
Total noninterest income 1,770 3,244 4,118 6,316
NONINTEREST EXPENSE        
Salaries and employee benefits 9,028 13,000 20,085 25,610
Occupancy and equipment 1,062 1,129 2,301 2,510
Technology and communication 1,916 2,565 3,903 5,349
Legal and regulatory filings 477 395 1,059 834
Advertising and marketing 423 128 1,188 319
Audit fees 226 459 481 1,037
FDIC insurance 318 1,027 738 2,124
Intangible amortization 191 234 393 478
Other contractual services 344 433 546 1,028
Other taxes and assessments 842 955 1,670 1,876
Other 1,064 1,684 2,268 3,795
Total noninterest expense 15,891 22,009 34,632 44,960
(Loss) income before income tax expense (1,628) 1,776 (515) 887
Income tax (benefit) expense (333) 480 (56) 25
Net (loss) income $ (1,295) $ 1,296 $ (459) $ 862
Basic (loss) earnings per common share $ (0.01) $ 0.01 $ (0.01) $ 0.01
Diluted (loss) earnings per common share $ (0.01) $ 0.01 $ (0.01) $ 0.01