XML 14 R4.htm IDEA: XBRL DOCUMENT v3.25.1
CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($)
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
INTEREST INCOME    
Interest and fees on loans $ 2,709,000 $ 2,215,000
Interest and dividends on securities 745,000 938,000
Interest on deposits with banks and federal funds sold 175,000 252,000
Total Interest Income 3,629,000 3,405,000
INTEREST EXPENSE    
Interest on deposits 841,000 402,000
Interest on short-term borrowings 225,000 431,000
Total Interest Expense 1,066,000 833,000
Net Interest Income 2,563,000 2,572,000
(Release) provision of credit loss allowance (146,000) 169,000
Net interest income after credit loss provision 2,709,000 2,403,000
NONINTEREST INCOME    
Service charges on deposit accounts 31,000 38,000
Other fees and commissions 131,000 148,000
Income on life insurance 43,000 43,000
Total Noninterest Income 205,000 229,000
NONINTEREST EXPENSE    
Salary and benefits 1,827,000 1,618,000
Occupancy and equipment expenses 309,000 331,000
Legal, accounting and other professional fees 383,000 254,000
Data processing and item processing services 256,000 250,000
FDIC insurance costs 41,000 38,000
Advertising and marketing related expenses 37,000 23,000
Loan collection costs 45,000 5,000
Telephone costs 38,000 40,000
Other expenses (146,000) 302,000
Total Noninterest Expenses 2,790,000 2,861,000
Income (loss) before income taxes 124,000 (229,000)
Income tax benefit (29,000) (232,000)
NET INCOME $ 152,971 $ 3,158
Basic net income per share of common stock (in dollars per share) $ 0.05 $ 0
Diluted net income per share of common stock (in dollars per share) $ 0.05 $ 0