v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Interest income:        
Loans, including fees $ 28,213,000 $ 27,962,000 $ 57,791,000 $ 55,111,000
Investment securities 2,267,000 2,406,000 4,399,000 4,860,000
Fed funds sold and interest-bearing balances in banks 1,634,000 2,693,000 3,770,000 5,342,000
FHLB dividends 23,000 248,000 607,000 497,000
FRB dividends 112,000 144,000 232,000 289,000
Total interest and dividend income 32,249,000 33,453,000 66,799,000 66,099,000
Interest expense:        
Deposits 8,399,000 9,209,000 17,363,000 17,892,000
Subordinated debt   892,000   1,783,000
Other borrowings 3,000   3,000  
Junior subordinated deferrable interest debentures 119,000 192,000 509,000 384,000
Total interest expense 8,521,000 10,293,000 17,875,000 20,059,000
Net interest income 23,728,000 23,160,000 48,924,000 46,040,000
Provision for credit losses 5,241,000 203,000 4,571,000 845,000
Net interest income after provision for credit losses 18,487,000 22,957,000 44,353,000 45,195,000
Noninterest income:        
Gain on sale of loans 89,000 54,000 212,000 252,000
Gain (loss) on equity securities 95,000 7,000 153,000 (248,000)
Loan servicing and other loan fees 353,000 516,000 640,000 905,000
Gain (loss) on investment in Small Business Investment Company ("SBIC") fund (193,000) (227,000) (108,000) (336,000)
Other income and fees 267,000 250,000 518,000 522,000
Total noninterest income 1,486,000 1,513,000 3,031,000 2,953,000
Noninterest expense:        
Salaries and employee benefits 21,049,000 9,728,000 31,898,000 19,663,000
Occupancy and equipment 2,085,000 2,183,000 4,212,000 4,319,000
Data processing 2,039,000 1,913,000 4,077,000 3,766,000
Other expense 1,985,000 1,930,000 3,477,000 3,995,000
Total noninterest expense 27,158,000 15,754,000 43,664,000 31,743,000
(Loss) income before provision for income tax (benefit) expense (7,185,000) 8,716,000 3,720,000 16,405,000
Provision for income tax (benefit) expense (223,000) 2,352,000 2,502,000 4,339,000
Net (loss) income $ (6,962,000) $ 6,364,000 $ 1,218,000 $ 12,066,000
Net (loss) income per common share:        
Basic (loss) earnings per common share (in dollars per share) $ (0.64) $ 0.58 $ 0.11 $ 1.09
Weighted average common shares outstanding (in shares) 10,909,317 11,002,967 10,909,197 11,069,145
Diluted (loss) earnings per common share (in dollars per share) $ (0.64) $ 0.58 $ 0.11 $ 1.09
Weighted average common shares outstanding (in shares) 10,909,317 11,002,967 10,909,197 11,069,145
Service charges and other fees        
Noninterest income:        
Service charges and other fees $ 875,000 $ 913,000 $ 1,616,000 $ 1,858,000