$BCOW
1895 Bancorp of Wisconsin, Inc. /MD/
CIK:0001847360|SEC Filings
Consolidated Statements of Operations - USD ($) |
3 Months Ended | 9 Months Ended | ||||||
|---|---|---|---|---|---|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2024 |
Sep. 30, 2023 |
|||||
| Interest and dividend income: | ||||||||
| Loans, including fees | $ 4,800,000 | $ 4,423,000 | $ 14,535,000 | $ 12,487,000 | ||||
| Securities, taxable | 946,000 | 656,000 | 2,993,000 | 1,847,000 | ||||
| Other | 273,000 | 292,000 | 729,000 | 767,000 | ||||
| Total interest and dividend income | 6,019,000 | 5,371,000 | 18,257,000 | 15,101,000 | ||||
| Interest expense: | ||||||||
| Interest-bearing deposits | 2,521,000 | 1,832,000 | 7,418,000 | 4,111,000 | ||||
| Borrowed funds | 491,000 | 586,000 | 1,605,000 | 1,733,000 | ||||
| Other interest-bearing funds | 2,000 | 1,000 | 5,000 | 4,000 | ||||
| Total interest expense | 3,014,000 | 2,419,000 | 9,028,000 | 5,848,000 | ||||
| Net interest income | 3,005,000 | 2,952,000 | 9,229,000 | 9,253,000 | ||||
| Provision for credit losses | 75,000 | 75,000 | 225,000 | 225,000 | ||||
| Net interest income after provision for credit losses | 2,930,000 | 2,877,000 | 9,004,000 | 9,028,000 | ||||
| Noninterest income: | ||||||||
| Service charges and other fees | 238,000 | 235,000 | 678,000 | 699,000 | ||||
| Loan servicing, net | 179,000 | 172,000 | 506,000 | 502,000 | ||||
| Net gain on sale of loans | 118,000 | 73,000 | 325,000 | 141,000 | ||||
| Net (loss) on sale of securities | (1,925,000) | (1,925,000) | ||||||
| Increase in cash surrender value of insurance | 115,000 | 107,000 | 337,000 | 324,000 | ||||
| Unrealized gain (loss) on marketable equity securities | 248,000 | (158,000) | 726,000 | 287,000 | ||||
| Other | 2,000 | 113,000 | 48,000 | 278,000 | ||||
| Total noninterest income | 900,000 | (1,383,000) | 2,620,000 | 306,000 | ||||
| Noninterest expense: | ||||||||
| Salaries and employee benefits | 2,545,000 | 2,264,000 | 7,460,000 | 7,792,000 | ||||
| Unrealized gain (loss) on marketable equity securities | 248,000 | (158,000) | 726,000 | 287,000 | ||||
| Advertising and promotions | 9,000 | 54,000 | 25,000 | 124,000 | ||||
| Data processing | 195,000 | 225,000 | 619,000 | 672,000 | ||||
| Occupancy and equipment | 281,000 | 285,000 | 847,000 | 922,000 | ||||
| FDIC assessment | 89,000 | 61,000 | 247,000 | 182,000 | ||||
| Other | 920,000 | 979,000 | 3,238,000 | 2,864,000 | ||||
| Total noninterest expense | 4,287,000 | 3,710,000 | 13,162,000 | 12,843,000 | ||||
| (Loss) income before income taxes | (457,000) | (2,216,000) | (1,538,000) | (3,509,000) | ||||
| Income tax expense (benefit) | (298,000) | 1,425,000 | (557,000) | 1,001,000 | ||||
| Net Income (Loss) | $ (159,000) | $ (3,641,000) | $ (981,000) | $ (4,510,000) | ||||
| Loss per share: | ||||||||
| Basic | $ (0.03) | $ (0.66) | $ (0.18) | $ (0.81) | ||||
| Diluted | [1],[2] | $ (0.03) | $ (0.66) | $ (0.18) | $ (0.81) | |||
| Average common shares outstanding: | ||||||||
| Basic | 5,433,940 | 5,534,711 | 5,449,643 | 5,538,509 | ||||
| Diluted | [2] | 5,433,940 | 5,534,711 | 5,449,643 | 5,538,509 | |||
| ||||||||