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Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Interest income:        
Interest and fees on loans receivable $ 3,690 $ 4,127 $ 10,614 $ 12,035
Interest on mortgage-backed and other securities 100 69 313 217
Other interest income 113 148 368 365
Total interest income 3,903 4,344 11,295 12,617
Interest expense:        
Interest on deposits 821 611 2,137 1,782
Interest on borrowings 578 494 1,308 1,515
Total interest expense 1,399 1,105 3,445 3,297
Net interest income 2,504 3,239 7,850 9,320
Loan loss provision recapture 1,000 300 1,000 950
Net interest income after loan loss provision recapture 3,504 3,539 8,850 10,270
Non-interest income:        
Service charges 110 117 336 338
Gain on sale of loans 9 160 20 383
CDFI Grant 233   233  
Income from litigation settlement       1,183
Other 28 28 92 82
Total non-interest income 380 305 681 1,986
Non-interest expense:        
Compensation and benefits 1,721 1,878 5,377 5,193
Occupancy expense 330 333 963 953
Information services 191 202 611 610
Professional services 126 120 497 525
Office services and supplies 70 72 218 225
REO expense 46 12 132 10
Marketing expense 64 36 201 137
Corporate insurance 35 50 113 143
Amortization of investment in affordable housing limited partnership 49 48 146 146
Other 169 306 498 826
Total non-interest expense 2,801 3,057 8,756 8,768
Income before income taxes 1,083 787 775 3,488
Income tax expense 332 284 235 1,220
Net income 751 503 540 2,268
Other comprehensive (loss) gain, net of tax:        
Unrealized (losses) gains on securities available-for-sale arising during the period (105)   (465) 3
Income tax (benefit) expense 34   141 (1)
Other comprehensive loss, net of tax (71)   (324) 2
Comprehensive income $ 680 $ 503 $ 216 $ 2,270
Earnings per common share-basic (in dollars per share) $ 0.03 $ 0.02 $ 0.02 $ 0.09
Earnings per common share-diluted (in dollars per share) $ 0.03 $ 0.02 $ 0.02 $ 0.08