XML 19 R4.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Income - USD ($)
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Interest income:    
Loans, including fees $ 31,484,000 $ 29,933,000
Investment securities, including dividends 789,000 487,000
Interest-earning deposits 180,000 212,000
Total interest income 32,453,000 30,632,000
Interest expense:    
Deposits 2,680,000 4,752,000
Borrowings 497,000 738,000
Total interest expense 3,177,000 5,490,000
Net interest income before provision for loan losses 29,276,000 25,142,000
Provision for loan losses 1,075,000 2,000,000
Net interest income after provision for loan losses 28,201,000 23,142,000
Noninterest income:    
Service charges on deposit accounts 1,506,000 1,359,000
Gain on sales of investment securities available-for-sale 0 20,000
Other 1,172,000 777,000
Total noninterest income 2,678,000 2,156,000
Noninterest expenses:    
Salaries and employee benefits 10,415,000 10,969,000
Deferred compensation 248,000 279,000
Occupancy 2,935,000 2,820,000
Advertising 339,000 200,000
Data processing 1,975,000 2,343,000
Other real estate owned 18,000 20,000
Net (gain) loss on sale and write-down of other real estate owned (127,000) 289,000
Legal and accounting 827,000 1,447,000
Organizational dues and subscriptions 363,000 306,000
Director compensation 198,000 203,000
Federal deposit insurance premiums 260,000 401,000
Other 3,517,000 2,141,000
Total noninterest expenses 20,968,000 21,418,000
Income before income taxes 9,911,000 3,880,000
Income tax expense 2,338,000 792,000
Net income (loss) $ 7,573,000 $ 3,088,000
Basic earnings per share [1] $ 1.10 $ 0.41
Diluted earnings per share [1] $ 1.09 $ 0.41
[1] Amounts related to periods prior to the date of Conversion (January 20, 2021) have been restated to give the retroactive recognition to the exchange ratio applied in the Conversion (0.90686) (see Note 1).