XML 14 R4.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Interest and Dividend Income        
Interest and fees on loans $ 8,578 $ 10,245 $ 27,722 $ 30,345
Interest on investment securities 340 430 1,134 1,207
Dividends on investment securities 85 112 313 344
Other interest income 28 225 187 795
Total interest and dividend income 9,031 11,012 29,356 32,691
Interest Expense        
Interest on deposits 2,028 3,655 8,020 10,452
Interest on Federal Home Loan Bank borrowings 628 602 1,963 1,467
Interest on senior debt 229 229 686 686
Interest on subordinated debt 235 277 756 845
Interest on note payable and other 5 6 15 20
Total interest expense 3,125 4,769 11,440 13,470
Net interest income 5,906 6,243 17,916 19,221
Provision for Loan Losses 85 100 1,799 3,202
Net interest income after provision for loan losses 5,821 6,143 16,117 16,019
Non-interest Income        
Loan application, inspection and processing fees 54 32 147 74
Deposit fees and service charges 73 123 253 366
Gains on sales of loans 380 188 464 864
Rental income 131 137 393 459
Other income 66 91 257 312
Total non-interest income 704 571 1,514 2,075
Non-interest Expense        
Salaries and benefits 3,460 3,480 10,966 10,272
Occupancy and equipment expense 810 937 2,680 2,598
Data processing expense 433 357 1,194 1,088
Professional and other outside services 627 721 2,137 2,233
Project expenses, net 6 212 154 277
Advertising and promotional expense 107 63 377 255
Loan administration and processing expense 75 44 135 101
Regulatory assessments 355 152 1,159 862
Insurance expense, net 67 65 215 160
Communications, stationary and supplies 118 118 371 383
Other operating expense 560 530 1,491 1,626
Total non-interest expense 6,618 6,679 20,879 19,855
(Loss) income before income taxes (93) 35 (3,248) (1,761)
(Benefit) provision for income taxes (6) 8 (811) (456)
Net (loss) income $ (87) $ 27 $ (2,437) $ (1,305)
Basic (loss) earnings per share (in dollars per share) $ (0.02) $ 0.01 $ (0.62) $ (0.33)
Diluted (loss) earnings per share (in dollars per share) $ (0.02) $ 0.01 $ (0.62) $ (0.33)