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Condensed Consolidated Statements of Earnings (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Interest income:        
Loans $ 7,252 $ 3,764 $ 13,841 $ 7,027
Debt securities 172 159 350 322
Other 755 102 1,504 139
Total interest income 8,179 4,025 15,695 7,488
Interest expense:        
Deposits 2,556 170 4,988 345
Borrowings 31 102 56 163
Total interest expense 2,587 272 5,044 508
Net interest income 5,592 3,753 10,651 6,980
Credit loss expense 704 991 1,524 1,383
Net interest income after credit loss expense 4,888 2,762 9,127 5,597
Noninterest income:        
Service charges and fees 759 680 1,478 1,269
Other 13 84 23 145
Total noninterest income 772 764 1,501 1,414
Noninterest expenses:        
Salaries and employee benefits 2,041 1,307 4,007 2,642
Professional fees 171 142 368 289
Occupancy and equipment 188 175 377 342
Data processing 385 285 751 562
Regulatory assessment 224 23 433 100
Litigation Settlement 375 375
Other 518 328 1,013 665
Total noninterest expenses 3,902 2,260 7,324 4,600
Net earnings before income taxes 1,758 1,266 3,304 2,411
Income taxes 446 321 839 611
Net earnings $ 1,312 $ 945 $ 2,465 $ 1,800
Net earnings per share - Basic $ 0.18 $ 0.16 $ 0.34 $ 0.33
Net earnings per share - Diluted $ 0.18 $ 0.16 $ 0.34 $ 0.33