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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Interest and Dividend Income        
Interest and fees on loans $ 13,936 $ 11,250 $ 40,538 $ 27,958
Interest on investment securities 640 555 2,007 1,635
Dividends on investment securities 110 99 416 229
Other interest income 384 135 1,064 224
Total interest and dividend income 15,070 12,039 44,025 30,046
Interest Expense        
Interest on deposits 6,220 1,493 15,047 2,659
Interest on Federal Home Loan Bank and correspondent bank borrowings 1,624 806 4,783 2,290
Interest on senior debt 290 218 869 638
Interest on subordinated debt 409 276 1,068 761
Interest on note payable 2 3 7 9
Total interest expense 8,545 2,796 21,774 6,357
Net interest income 6,525 9,243 22,251 23,689
Provision for credit losses 4,688 200 8,233 475
Net interest income after provision for credit losses 1,837 9,043 14,018 23,214
Non-interest Income        
Loan application, inspection and processing fees 310 102 554 278
Deposit fees and service charges 69 67 211 191
Gains on sales of loans 3 182 169 691
Rental income 106 124 330 448
Gain on sale of investment securities 0 0 24 0
Other income 681 179 1,545 658
Total non-interest income 1,169 654 2,833 2,266
Non-interest Expense        
Salaries and benefits 4,833 4,330 13,761 11,439
Occupancy and equipment expense 870 862 2,593 2,579
Data processing expense 355 297 965 910
Professional and other outside services 702 541 2,343 1,889
Project expenses, net 0 50 93 131
Advertising and promotional expense 61 50 223 191
Loan administration and processing expense 48 37 202 184
Regulatory assessments 292 245 791 598
Insurance expense, net 70 54 215 207
Communications, stationary and supplies 232 208 664 482
Other operating expense 646 540 1,906 1,535
Total non-interest expense 8,109 7,214 23,756 20,145
(Loss) income before income taxes (5,103) 2,483 (6,905) 5,335
(Benefit) provision for income taxes (1,333) 157 (1,821) 944
Net (loss) income $ (3,770) $ 2,326 $ (5,084) $ 4,391
Basic earnings (loss) per share (usd per share) $ (0.95) $ 0.59 $ (1.28) $ 1.11
Diluted (loss) earnings per share of common stock (usd per share) $ (0.95) $ 0.59 $ (1.28) $ 1.11