v3.26.1
CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
INTEREST AND FEE INCOME        
Loans, including fees $ 15,371 $ 9,410 $ 25,355 $ 18,672
Taxable investment securities 1,210 852 1,913 1,740
Tax exempt investment securities 200 22 222 44
FHLB and FRB stock 198 176 387 352
Short-term investments 328 33 372 63
Total interest and fee income 17,307 10,493 28,249 20,871
INTEREST EXPENSE        
Deposits 5,611 3,265 9,259 6,419
FHLB borrowings, short-term   572 157 949
FHLB borrowings, long-term 262 247 463 558
Junior subordinated debentures 718 112 866 223
Total interest expense 6,591 4,196 10,745 8,149
NET INTEREST INCOME 10,716 6,297 17,504 12,722
Provision for credit losses   150 180 300
NET INTEREST INCOME AFTER PROVISION 10,716 6,147 17,324 12,422
NON-INTEREST INCOME        
Gain on sale/servicing of loans 111 54 266 54
Earnings on bank-owned life insurance 43 39 85 77
Total non-interest income 1,700 971 2,689 1,821
NON-INTEREST EXPENSE        
Compensation and benefits 5,650 3,511 9,582 6,947
Occupancy and equipment 1,124 595 1,967 1,184
FDIC and OCC assessment 299 216 548 432
Advertising and public relations 163 114 313 228
Legal and professional fees 303 167 560 423
Merger expenses 3,864   4,613  
Data processing 488 272 717 550
Debit card processing 319 128 456 252
Other 1,322 590 1,896 1,096
Total non-interest expense 13,532 5,593 20,652 11,112
INCOME BEFORE INCOME TAX EXPENSE (1,116) 1,525 (639) 3,131
Income tax expense (405) 290 (172) 595
NET (LOSS) INCOME $ (711) $ 1,235 $ (467) $ 2,536
Basic (loss) earnings per share (in dollars per share) $ (0.65) $ 1.66 $ (0.51) $ 3.41
Weighted average number of common shares outstanding (in shares) 1,100,071 742,663 921,367 742,663
Service charges on deposit accounts        
NON-INTEREST INCOME        
Non-interest income (In scope of Topic 606) $ 235 $ 159 $ 384 $ 321
Trust and investment services income        
NON-INTEREST INCOME        
Non-interest income (In scope of Topic 606) 403 365 786 703
Debit card interchange income        
NON-INTEREST INCOME        
Non-interest income (In scope of Topic 606) 445 199 625 383
Other        
NON-INTEREST INCOME        
Non-interest income (In scope of Topic 606) $ 463 $ 155 $ 543 $ 283