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 and Dividend Income        
Interest and fees on loans $ 12,248 $ 9,103 $ 22,278 $ 19,083
Interest on investment securities 3,041 548 5,934 1,096
Dividends on investment securities 65 38 126 65
Other interest income 1,061 1,805 2,801 3,798
Total interest and dividend income 16,415 11,494 31,139 24,042
Interest Expense        
Interest on deposits 7,053 6,793 14,311 14,591
Interest on FHLB, FRB and correspondent bank borrowings 95 3 188 101
Interest on senior debt 0 183 0 505
Interest on subordinated debt 310 327 607 702
Interest on note payable 0 0 0 1
Total interest expense 7,458 7,306 15,106 15,900
Net interest income 8,957 4,188 16,033 8,142
Provision for credit losses 590 1,524 409 2,257
Net interest income after credit loss provision 8,367 2,664 15,624 5,885
Non-interest Income        
Loan application, inspection and processing fees 75 105 190 316
Deposit fees and service charges 172 481 478 899
(Loss) gain on sales of loans, net (10) (959) (10) (916)
Loss on sale of investment securities, net 0 0 (11) 0
Digital Payments income 2,557 2,108 5,345 3,866
Other income 294 295 342 593
Total non-interest income 3,088 2,030 6,334 4,758
Non-interest Expense        
Salaries and benefits 6,338 5,242 13,158 9,753
Occupancy and equipment expense 1,118 767 2,028 1,515
Data processing expense 207 453 587 838
Professional and other outside services 2,341 1,046 3,911 2,127
Advertising and promotional expense 39 44 83 197
Loan administration and processing expense 95 13 122 117
Regulatory assessments 607 417 1,087 872
Insurance expense, net 210 140 457 210
Communications, stationary and supplies 472 348 887 576
Other operating expense 1,412 1,274 2,764 2,264
Total non-interest expense 12,839 9,744 25,084 18,469
Loss before income taxes (1,384) (5,050) (3,126) (7,826)
Benefit for income taxes (1,527) (49) (1,514) (48)
Net income (loss) $ 143 $ (5,001) $ (1,612) $ (7,778)
Basic profit (loss) per share (usd per share) $ 0.00 $ (0.06) $ (0.01) $ (0.17)
Diluted profit (loss) per share (usd per share) $ 0.00 $ (0.06) $ (0.01) $ (0.17)