(MENAFN- GlobeNewsWire - Nasdaq) BROOKFIELD, Wis., Oct. 21, 2026 (GLOBE NEWSWIRE) -- CIB Marine Bancshares, Inc. (the“Company” or“CIB Marine”) (OTCQX: CIBH), the holding company of CIBM Bank (the“Bank”), announced its unaudited results of operations and financial condition for the quarter and nine months ended September 30, 2026. Net income for the quarter was $0.8 million, or $0.58 basic and $0.57 diluted net income per share, compared to $0.9 million, or $0.67 basic and $0.65 diluted net income per share, for the same quarter of 2025. For the nine-month period, net income increased to $2.3 million, or $1.73 basic and $1.69 diluted net income per share, compared to $1.9 million, or $1.41 basic and $1.36 diluted net income per share, for the same period in 2025. Financial highlights for the quarter include:
Net interest margin increased to 3.05% compared to 3.03% for the second quarter of 2026 and 2.77% for the third quarter of 2025. In addition, the net interest margin increased to 3.02% for the nine months ended September 30, 2026, compared to 2.69% for the same period of 2025. The rising trend continued as the cost of funds declined and earning asset yields rose. Net interest income increased $0.5 million for the quarter compared to the same quarter of 2025, and by $1.5 million for the nine months ended September 30, 2026, compared to the same period of 2025, primarily as a result of improved net interest margins that more than offset the impact of lower average earning asset balances.
Net income for the Banking Division increased by $0.5 million, while net income for the Mortgage Division decreased by $0.1 million for the nine months ended September 30, 2026, compared to the same period in 2025. The Banking Division's increase was driven primarily by higher net interest income, which more than offset the $0.4 million increase in provisions for credit losses. The Mortgage Division's results were primarily the result of lower mortgage volumes due to higher mortgage rates and limited housing inventory, offset in part by effective cost controls. The allowance for credit losses (“ACL”) to loans was 1.23% at September 30, 2026, compared to 1.20% at June 30, 2026, and 1.27% at December 31, 2025. Provision for credit losses increased year to date, and annualized net charge-offs also increased. Improved economic forecasts from the Federal Reserve and lower loan balances since June 30, 2026, partially offset deterioration in qualitative adjustments related to changes in credit classifications and other factors. Non-performing assets to total assets and non-accrual loans to loans were 0.92% and 1.15%, respectively, on September 30, 2026, compared to 1.04% and 1.31%, respectively, on December 31, 2025. While these measures of non-performing asset quality remained relatively consistent during the period, migration within other credit risk categories resulted in the combined total of credits classified as Special Mention, Substandard, and Doubtful increasing from $37 million at December 31, 2025, to $56 million at September 30, 2026. This increase was primarily due to migration in the Commercial and Commercial Real Estate loan portfolio segments, while the Construction & Development, Residential, Home Equity or Consumer segments experienced little overall total classified balance change. Management is closely monitoring these credits and has increased its focus on problem loan management. Since year-end 2025, loan balances have decreased by $15 million, primarily due to a $10 million and $5 million decline in the residential and commercial (inclusive of the construction and development segment) portfolios, respectively. The decline in residential loans was consistent with portfolio strategy, as these loans generally generate lower net interest spreads. Although commercial loan originations increased compared with the same period in the prior year, elevated prepayment activity, largely attributable to borrower business and property sales rather than interest rate or service considerations, contributed to the decline in commercial loan balances. Deposits increased since December 31, 2025, primarily in money market and noninterest-bearing checking accounts, reflecting targeted growth initiatives and increased marketing expenditures. Short-term borrowings, primarily those from the Federal Home Loan Bank of Chicago, decreased by $29 million during the period with that reduction funded from higher deposit balances and lower loan balances.
Mr. J. Brian Chaffin, CIB Marine's President and CEO, commented,“Earnings improved again as expansion of the net interest margin and disciplined expense management more than offset higher provisions for credit losses. Net interest margin for CIBM Bank was 3.11% for the third quarter, up from 2.84% in the same quarter in 2025, and up from 3.09% in the second quarter of 2026. We remain focused on growing new customer relationships and continuing the repricing of loans and deposits, supported by enhanced marketing activities. Provisions for credit losses increased compared to the same period last year as we have had some credit migration and charge-off activity, as noted above. Management is addressing these issues with the highest priority.”
Regarding the Company's common stock repurchase plan, he added,“Purchases of CIBH stock for the year to date have totaled $1.2 million at a weighted average price of $38.33 per share. Since February 2025, we have repurchased 5% of our outstanding stock at a price of $36.17 per share, utilizing $2.5 million of the $3.5 million authorized through 2026.”
Finally, he concluded,“For the remainder of 2026, we remain focused on increasing net interest income while navigating the challenges presented by the current interest rate environment, and on addressing the recent rise in loan risk migrations.”
CIB Marine Bancshares, Inc. is the holding company for CIBM Bank, which operates nine banking offices in Illinois, Wisconsin, and Indiana, and has mortgage loan officers and/or offices in six states. More information on the Company is available at , including recent shareholder letters, links to regulatory financial reports, and audited financial statements.
FORWARD-LOOKING STATEMENTS
CIB Marine has made statements in this release that may constitute“forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. CIB Marine intends these forward-looking statements to be subject to the safe harbor created thereby and is including this statement to avail itself of the safe harbor. Forward-looking statements are identified generally by statements containing words and phrases such as“may,”“project,”“are confident,”“should be,”“intend,”“predict,”“believe,”“plan,”“expect,”“estimate,”“anticipate” and similar expressions. These forward-looking statements reflect CIB Marine's current views with respect to future events and financial performance that are subject to many uncertainties and factors relating to CIB Marine's operations and the business environment, which could change at any time.
There are inherent difficulties in predicting factors that may affect the accuracy of forward-looking statements.
Stockholders should note that many factors, some of which are discussed elsewhere in this Earnings Release and in the documents that are incorporated by reference, could affect the future financial results of CIB Marine and could cause those results to differ materially from those expressed in forward-looking statements contained or incorporated by reference in this document. These factors, many of which are beyond CIB Marine's control, include but are not limited to:
operating, legal, execution, credit, market, security (including cyber), and regulatory risks; economic, political, and competitive forces affecting CIB Marine's banking business; the impact on net interest income and securities values from changes in monetary policy and general economic and political conditions; and the risk that CIB Marine's analyses of these risks and forces could be incorrect and/or that the strategies developed to address them could be unsuccessful.
These factors should be considered in evaluating the forward-looking statements, and undue reliance should not be placed on such statements. Forward-looking statements speak only as of the date they are made. CIB Marine undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Forward-looking statements are subject to significant risks and uncertainties and CIB Marine's actual results may differ materially from the results discussed in forward-looking statements.
FOR INFORMATION CONTACT:
J. Brian Chaffin, President & CEO
(217) 355-0900
...
| CIB MARINE BANCSHARES, INC. |
| Selected Unaudited Consolidated Financial Data |
|
| At or for the |
| Quarters Ended
| 9 Months Ended |
| September 30, | June 30, | March 31, | December 31, | September 30, | September 30, | September 30, |
| | 2026 | | | 2026 | | | 2026 | | | 2025 | | | 2025 | | | | 2026 | | | 2025 | |
| (Dollars in thousands, except share and per share data) |
| Selected Statement of Operations Data: | | | | | | | | |
| Interest and dividend income | $ | 10,871 | | $ | 10,739 | | $ | 10,586 | | $ | 10,881 | | $ | 10,780 | | | $ | 32,196 | | $ | 32,738 | |
| Interest expense | | 4,816 | | | 4,739 | | | 4,760 | | | 5,208 | | | 5,196 | | | | 14,315 | | | 16,389 | |
| Net interest income | | 6,055 | | | 6,000 | | | 5,826 | | | 5,673 | | | 5,584 | | | | 17,881 | | | 16,349 | |
| Provision for (reversal of) credit losses | | 73 | | | (26 | ) | | 268 | | | 1,174 | | | (90 | ) | | | 315 | | | (39 | ) |
| Net interest income after provision for | | | | | | | | |
| (reversal of) credit losses | | 5,982 | | | 6,026 | | | 5,558 | | | 4,499 | | | 5,674 | | | | 17,566 | | | 16,388 | |
| Noninterest income (1) | | 1,163 | | | 1,337 | | | 1,178 | | | 1,292 | | | 1,908 | | | | 3,678 | | | 5,225 | |
| Noninterest expense | | 6,129 | | | 6,191 | | | 5,969 | | | 6,223 | | | 6,375 | | | | 18,289 | | | 19,059 | |
| Income (loss) before income taxes | | 1,016 | | | 1,172 | | | 767 | | | (432 | ) | | 1,207 | | | | 2,955 | | | 2,554 | |
| Income tax expense (benefit) | | 249 | | | 257 | | | 181 | | | (115 | ) | | 299 | | | | 687 | | | 657 | |
| Net income (loss) | $ | 767 | | $ | 915 | | $ | 586 | | $ | (317 | ) | $ | 908 | | | $ | 2,268 | | $ | 1,897 | |
| | | | | | | | |
| Common Share Data: | | | | | | | | |
| Basic net income (loss) per share | $ | 0.58 | | $ | 0.69 | | $ | 0.45 | | $ | (0.24 | ) | $ | 0.67 | | | $ | 1.73 | | $ | 1.41 | |
| Diluted net income (loss) per share | | 0.57 | | | 0.68 | | | 0.43 | | | (0.24 | ) | | 0.65 | | | | 1.69 | | | 1.36 | |
| Dividend | | 0.00 | | | 0.00 | | | 0.00 | | | 0.00 | | | 0.00 | | | | 0.00 | | | 0.00 | |
| Tangible book value per share (2) | | 60.67 | | | 61.56 | | | 61.09 | | | 60.95 | | | 60.72 | | | | 60.67 | | | 60.72 | |
| Book value per share (2) | | 60.72 | | | 61.61 | | | 61.13 | | | 61.00 | | | 60.77 | | | | 60.72 | | | 60.77 | |
| Weighted average shares outstanding - basic | | 1,318,554 | | | 1,317,498 | | | 1,310,842 | | | 1,334,388 | | | 1,350,097 | | | | 1,314,251 | | | 1,345,941 | |
| Weighted average shares outstanding - diluted | | 1,345,372 | | | 1,345,498 | | | 1,349,513 | | | 1,379,094 | | | 1,396,512 | | | | 1,345,372 | | | 1,393,086 | |
| Financial Condition Data: | | | | | | | | |
| Total assets | $ | 812,901 | | $ | 828,198 | | $ | 832,790 | | $ | 833,304 | | $ | 836,760 | | | $ | 812,901 | | $ | 836,760 | |
| Loans | | 650,954 | | | 659,768 | | | 669,543 | | | 666,199 | | | 655,620 | | | | 650,954 | | | 655,620 | |
| Allowance for credit losses on loans | | (7,987 | ) | | (7,903 | ) | | (8,696 | ) | | (8,465 | ) | | (8,721 | ) | | | (7,987 | ) | | (8,721 | ) |
| Investment securities | | 124,964 | | | 124,419 | | | 120,629 | | | 123,319 | | | 128,214 | | | | 124,964 | | | 128,214 | |
| Deposits | | 671,675 | | | 666,633 | | | 677,349 | | | 660,614 | | | 702,078 | | | | 671,675 | | | 702,078 | |
| Borrowings | | 49,186 | | | 67,804 | | | 62,265 | | | 77,817 | | | 39,245 | | | | 49,186 | | | 39,245 | |
| Stockholders' equity | | 80,065 | | | 81,245 | | | 80,647 | | | 81,414 | | | 81,789 | | | | 80,065 | | | 81,789 | |
| Financial Ratios and Other Data: | | | | | | | | |
| Performance Ratios: | | | | | | | | |
| Net interest margin (3) | | 3.05 | % | | 3.03 | % | | 2.96 | % | | 2.81 | % | | 2.77 | % | | | 3.02 | % | | 2.69 | % |
| Net interest spread (4) | | 2.48 | % | | 2.46 | % | | 2.40 | % | | 2.20 | % | | 2.17 | % | | | 2.45 | % | | 2.07 | % |
| Noninterest income to average assets (5) | | 0.61 | % | | 0.66 | % | | 0.59 | % | | 0.62 | % | | 0.91 | % | | | 0.62 | % | | 0.82 | % |
| Noninterest expense to average assets | | 2.98 | % | | 3.03 | % | | 2.95 | % | | 2.98 | % | | 3.06 | % | | | 2.99 | % | | 3.04 | % |
| Efficiency ratio (6) | | 83.96 | % | | 84.28 | % | | 85.03 | % | | 89.37 | % | | 85.33 | % | | | 84.41 | % | | 88.61 | % |
| Earnings (loss) on average assets (7) | | 0.37 | % | | 0.45 | % | | 0.29 | % | | -0.15 | % | | 0.44 | % | | | 0.37 | % | | 0.30 | % |
| Earnings (loss) on average equity (8) | | 3.73 | % | | 4.53 | % | | 2.90 | % | | -1.53 | % | | 4.46 | % | | | 3.72 | % | | 3.18 | % |
| Asset Quality Ratios: | | | | | | | | |
| Nonaccrual loans to loans (9) | | 1.15 | % | | 1.09 | % | | 1.30 | % | | 1.31 | % | | 0.95 | % | | | 1.15 | % | | 0.95 | % |
| Nonperforming assets to total assets (10) | | 0.92 | % | | 0.87 | % | | 1.04 | % | | 1.04 | % | | 0.75 | % | | | 0.92 | % | | 0.75 | % |
| Nonaccrual loans, modified loans to borrowers experiencing | | | | | | | | |
| financial difficulty, loans 90 days or more past due and still accruing to total loans | | 2.00 | % | | 1.94 | % | | 2.20 | % | | 2.36 | % | | 2.38 | % | | | 2.00 | % | | 2.38 | % |
| Nonaccrual loans, OREO, modified loans to borrowers | | | | | | | | |
| experiencing financial difficulty, loans 90 days or more past due and still accruing to total assets | | 1.60 | % | | 1.54 | % | | 1.77 | % | | 1.89 | % | | 1.87 | % | | | 1.60 | % | | 1.87 | % |
| Allowance for credit losses on loans to total loans (9) | | 1.23 | % | | 1.20 | % | | 1.30 | % | | 1.27 | % | | 1.33 | % | | | 1.23 | % | | 1.33 | % |
| Allowance for credit losses on loans to nonaccrual loans, | | | | | | | | |
| modified loans to borrowers experiencing financial difficulty loans and loans 90 days or more past due and still accruing (9) | | 61.30 | % | | 61.87 | % | | 59.08 | % | | 53.87 | % | | 55.78 | % | | | 61.30 | % | | 55.78 | % |
| Net charge-offs (recoveries) annualized | | | | | | | | |
| to average loans (9) | | 0.01 | % | | 0.47 | % | | -0.06 | % | | 0.85 | % | | 0.00 | % | | | 0.14 | % | | -0.01 | % |
| Capital Ratios: | | | | | | | | |
| Total equity to total assets | | 9.85 | % | | 9.81 | % | | 9.68 | % | | 9.77 | % | | 9.77 | % | | | 9.85 | % | | 9.77 | % |
| Total risk-based capital ratio | | 14.11 | % | | 13.84 | % | | 13.53 | % | | 13.67 | % | | 13.90 | % | | | 14.11 | % | | 13.90 | % |
| Tier 1 risk-based capital ratio | | 11.34 | % | | 11.10 | % | | 10.80 | % | | 10.94 | % | | 11.15 | % | | | 11.34 | % | | 11.15 | % |
| Leverage capital ratio | | 9.04 | % | | 8.95 | % | | 8.83 | % | | 8.80 | % | | 8.88 | % | | | 9.04 | % | | 8.88 | % |
| Other Data: | | | | | | | | |
| Number of employees (full-time equivalent) | | 142 | | | 142 | | | 141 | | | 142 | | | 143 | | | | 142 | | | 143 | |
| Number of banking facilities | | 9 | | | 9 | | | 9 | | | 9 | | | 9 | | | | 9 | | | 9 | |
| | | | | | | | |
| (1) Noninterest income includes gains and losses on securities. |
| (2) Tangible book value per share is the stockholder equity less the carrying value of the preferred stock and less the goodwill and intangible assets, divided by the total shares of common outstanding. Book value per share is the stockholder equity less the liquidation preference of the preferred stock, divided by the total shares of common outstanding. Both book value measures are reported inclusive of the net deferred tax assets. As presented here, shares of common outstanding excludes unvested restricted stock awards. |
| (3) Net interest margin is the ratio of net interest income to average interest-earning assets. |
| (4) Net interest spread is the yield on average interest-earning assets less the rate on average interest-bearing liabilities. |
| (5) Noninterest income to average assets excludes gains and losses on securities. |
| (6) The efficiency ratio is noninterest expense divided by the sum of net interest income plus noninterest income, excluding gains and losses on securities. |
| (7) Earnings on average assets are net income divided by average total assets. |
| (8) Earnings on average equity are net income divided by average stockholders' equity. |
| (9) Excludes loans held for sale. |
| (10)Nonperforming assets includes nonaccrual loans, nonaccrual securities, and other real estate owned. |
| CIB MARINE BANCSHARES, INC. |
| Consolidated Balance Sheets (unaudited) |
| | | | | |
| September 30, | June 30, | March 31, | December 31, | September 30, |
| | 2026 | | | 2026 | | | 2026 | | | 2025 | | | 2025 | |
| (Dollars in Thousands, Except Shares) |
| Assets | | | | | |
| Cash and due from banks | $ | 6,258 | | $ | 8,893 | | $ | 9,584 | | $ | 8,102 | | $ | 19,016 | |
| Securities available for sale | | 122,863 | | | 122,235 | | | 118,436 | | | 121,110 | | | 126,017 | |
| Equity securities at fair value | | 2,101 | | | 2,184 | | | 2,193 | | | 2,209 | | | 2,197 | |
| Loans held for sale | | 3,434 | | | 7,976 | | | 6,160 | | | 8,640 | | | 7,287 | |
| | | | | |
| Loans | | 650,954 | | | 659,768 | | | 669,543 | | | 666,199 | | | 655,620 | |
| Allowance for credit losses on loans | | (7,987 | ) | | (7,903 | ) | | (8,696 | ) | | (8,465 | ) | | (8,721 | ) |
| Net loans | | 642,967 | | | 651,865 | | | 660,847 | | | 657,734 | | | 646,899 | |
| | | | | |
| Federal Home Loan Bank stock | | 2,264 | | | 2,707 | | | 2,707 | | | 2,567 | | | 2,195 | |
| Premises and equipment, net | | 1,633 | | | 1,646 | | | 1,610 | | | 1,675 | | | 1,731 | |
| Accrued interest receivable | | 2,935 | | | 2,798 | | | 2,890 | | | 2,763 | | | 2,803 | |
| Deferred tax assets, net | | 12,030 | | | 11,503 | | | 11,589 | | | 11,440 | | | 11,745 | |
| Other real estate owned, net | | - | | | - | | | - | | | - | | | - | |
| Bank owned life insurance | | 6,809 | | | 6,752 | | | 6,695 | | | 6,641 | | | 6,589 | |
| Goodwill and other intangible assets | | 64 | | | 64 | | | 64 | | | 64 | | | 64 | |
| Other assets | | 9,543 | | | 9,575 | | | 10,015 | | | 10,359 | | | 10,217 | |
| Total assets | $ | 812,901 | | $ | 828,198 | | $ | 832,790 | | $ | 833,304 | | $ | 836,760 | |
| | | | | |
| Liabilities and Stockholders' Equity | | | | | |
| Deposits: | | | | | |
| Noninterest-bearing demand | $ | 87,229 | | $ | 88,840 | | $ | 86,243 | | $ | 85,637 | | $ | 95,307 | |
| Interest-bearing demand | | 77,072 | | | 82,241 | | | 91,209 | | | 86,577 | | | 107,512 | |
| Savings | | 254,953 | | | 233,642 | | | 232,493 | | | 218,515 | | | 222,450 | |
| Time | | 252,421 | | | 261,910 | | | 267,404 | | | 269,885 | | | 276,809 | |
| Total deposits | | 671,675 | | | 666,633 | | | 677,349 | | | 660,614 | | | 702,078 | |
| Short-term borrowings | | 39,366 | | | 57,992 | | | 52,462 | | | 68,022 | | | 29,458 | |
| Long-term borrowings | | 9,820 | | | 9,812 | | | 9,803 | | | 9,795 | | | 9,787 | |
| Accrued interest payable | | 1,189 | | | 1,335 | | | 1,237 | | | 1,468 | | | 1,456 | |
| Other liabilities | | 10,786 | | | 11,181 | | | 11,292 | | | 11,991 | | | 12,192 | |
| Total liabilities | | 732,836 | | | 746,953 | | | 752,143 | | | 751,890 | | | 754,971 | |
| | | | | |
| Stockholders' Equity | | | | | |
| Preferred stock, $1 par value; 5,000,000 authorized shares at both September 30, 2026 and December 31, 2025; 7% fixed rate noncumulative perpetual issued; zero shares of series A and zero shares of series B convertible | | - | | | - | | | - | | | - | | | - | |
| Common stock, $1 par value; 75,000,000 authorized shares; 1,401,541 and 1,385,842 issued shares; 1,319,357 and 1,335,390 outstanding shares at September 30, 2026 and December 31, 2025, respectively (1) | | 1,402 | | | 1,402 | | | 1,398 | | | 1,386 | | | 1,386 | |
| Capital surplus | | 182,391 | | | 182,283 | | | 182,175 | | | 182,087 | | | 182,003 | |
| Accumulated deficit | | (95,639 | ) | | (96,406 | ) | | (97,321 | ) | | (97,907 | ) | | (97,591 | ) |
| Accumulated other comprehensive income (loss), net | | (5,091 | ) | | (3,036 | ) | | (2,765 | ) | | (2,371 | ) | | (2,808 | ) |
| Treasury stock, 82,906 shares on September 30, 2026 and 51,174 shares December 31, 2025 (2) | | (2,998 | ) | | (2,998 | ) | | (2,840 | ) | | (1,781 | ) | | (1,201 | ) |
| Total stockholders' equity | | 80,065 | | | 81,245 | | | 80,647 | | | 81,414 | | | 81,789 | |
| Total liabilities and stockholders' equity | $ | 812,901 | | $ | 828,198 | | $ | 832,790 | | $ | 833,304 | | $ | 836,760 | |
| | | | | |
| (1) Both issued and outstanding shares as stated here exclude 41,184 shares and 43,054 shares of unvested restricted stock awards at September 30, 2026 and December 31, 2025, respectively. |
| (2) Treasury stock includes 722 shares held by subsidiary bank CIBM Bank. |
| CIB MARINE BANCSHARES, INC. |
| Consolidated Statements of Operations (Unaudited) |
| | | | | | | | |
| At or for the |
| Quarters Ended
| 9 Months Ended |
| September 30, | June 30, | March 31, | December 31, | September 30, | September 30, | September 30, |
| | 2026 | | | 2026 | | | 2026 | | | 2025 | | | 2025 | | | | 2026 | | | 2025 | |
| (Dollars in thousands) |
| | | | | | | | |
| Interest Income | | | | | | | | |
| Loans | $ | 9,535 | | $ | 9,463 | | $ | 9,323 | | $ | 9,480 | | $ | 9,347 | | | $ | 28,321 | | $ | 28,623 | |
| Loans held for sale | | 84 | | | 78 | | | 87 | | | 168 | | | 123 | | | | 249 | | | 409 | |
| Securities | | 1,225 | | | 1,170 | | | 1,152 | | | 1,200 | | | 1,229 | | | | 3,547 | | | 3,565 | |
| Other investments | | 27 | | | 28 | | | 24 | | | 33 | | | 81 | | | | 79 | | | 141 | |
| Total interest income | | 10,871 | | | 10,739 | | | 10,586 | | | 10,881 | | | 10,780 | | | | 32,196 | | | 32,738 | |
| | | | | | | | |
| Interest Expense | | | | | | | | |
| Deposits | | 4,324 | | | 4,180 | | | 4,185 | | | 4,660 | | | 4,772 | | | | 12,689 | | | 14,596 | |
| Short-term borrowings | | 371 | | | 437 | | | 456 | | | 427 | | | 302 | | | | 1,264 | | | 1,431 | |
| Long-term borrowings | | 121 | | | 122 | | | 119 | | | 121 | | | 122 | | | | 362 | | | 362 | |
| Total interest expense | | 4,816 | | | 4,739 | | | 4,760 | | | 5,208 | | | 5,196 | | | | 14,315 | | | 16,389 | |
| Net interest income | | 6,055 | | | 6,000 | | | 5,826 | | | 5,673 | | | 5,584 | | | | 17,881 | | | 16,349 | |
| Provision for (reversal of) credit losses | | 73 | | | (26 | ) | | 268 | | | 1,174 | | | (90 | ) | | | 315 | | | (39 | ) |
| Net interest income after provision for | | | | | | | | |
| (reversal of) credit losses | | 5,982 | | | 6,026 | | | 5,558 | | | 4,499 | | | 5,674 | | | | 17,566 | | | 16,388 | |
| | | | | | | | |
| Noninterest Income | | | | | | | | |
| Deposit service charges | | 56 | | | 46 | | | 43 | | | 62 | | | 62 | | | | 145 | | | 186 | |
| Other service fees | | (14 | ) | | (11 | ) | | (10 | ) | | (10 | ) | | (7 | ) | | | (35 | ) | | (26 | ) |
| Mortgage banking revenue, net | | 874 | | | 1,072 | | | 820 | | | 1,021 | | | 1,483 | | | | 2,766 | | | 4,047 | |
| Other income | | 242 | | | 208 | | | 173 | | | 178 | | | 239 | | | | 623 | | | 695 | |
| Net gain (loss) on sale of securities available for sale | | 0 | | | 0 | | | 0 | | | (10 | ) | | 0 | | | | 0 | | | 0 | |
| Unrealized gain (loss) recognized on equity securities | | (82 | ) | | (9 | ) | | (16 | ) | | 11 | | | 21 | | | | (107 | ) | | 64 | |
| Net gain on sale of SBA loans | | 87 | | | 31 | | | 168 | | | 40 | | | 110 | | | | 286 | | | 271 | |
| Net gain on sale of assets and (writedowns) | | 0 | | | 0 | | | 0 | | | 0 | | | 0 | | | | 0 | | | (12 | ) |
| Total noninterest income | | 1,163 | | | 1,337 | | | 1,178 | | | 1,292 | | | 1,908 | | | | 3,678 | | | 5,225 | |
| | | | | | | | |
| Noninterest Expense | | | | | | | | |
| Compensation and employee benefits | | 3,801 | | | 3,800 | | | 3,726 | | | 3,833 | | | 4,047 | | | | 11,327 | | | 12,173 | |
| Equipment | | 517 | | | 510 | | | 521 | | | 589 | | | 577 | | | | 1,548 | | | 1,719 | |
| Occupancy and premises | | 521 | | | 524 | | | 571 | | | 537 | | | 514 | | | | 1,616 | | | 1,582 | |
| Data Processing | | 244 | | | 213 | | | 218 | | | 215 | | | 243 | | | | 675 | | | 676 | |
| Federal deposit insurance | | 123 | | | 125 | | | 134 | | | 119 | | | 138 | | | | 382 | | | 368 | |
| Professional services | | 223 | | | 236 | | | 178 | | | 169 | | | 205 | | | | 637 | | | 701 | |
| Telephone and data communication | | 73 | | | 69 | | | 65 | | | 73 | | | 65 | | | | 207 | | | 174 | |
| Insurance | | 81 | | | 54 | | | 94 | | | 71 | | | 92 | | | | 229 | | | 231 | |
| Other expense | | 546 | | | 660 | | | 462 | | | 617 | | | 494 | | | | 1,668 | | | 1,435 | |
| Total noninterest expense | | 6,129 | | | 6,191 | | | 5,969 | | | 6,223 | | | 6,375 | | | | 18,289 | | | 19,059 | |
| Income (loss) from operations | | | | | | | | |
| before income taxes | | 1,016 | | | 1,172 | | | 767 | | | (432 | ) | | 1,207 | | | | 2,955 | | | 2,554 | |
| Income tax expense (benefit) | | 249 | | | 257 | | | 181 | | | (115 | ) | | 299 | | | | 687 | | | 657 | |
| Net income (loss) | | 767 | | | 915 | | | 586 | | | (317 | ) | | 908 | | | | 2,268 | | | 1,897 | |
| Net income (loss) allocated to | | | | | | | | |
| common stockholders | $ | 767 | | $ | 915 | | $ | 586 | | $ | (317 | ) | $ | 908 | | | $ | 2,268 | | $ | 1,897 | |
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