logo
Railtown AI Technologies to Present "Langtracks" Agentic Framework at Upper Bound 2025, May 20-23

Railtown AI Technologies to Present "Langtracks" Agentic Framework at Upper Bound 2025, May 20-23

Yahoo22-05-2025
Vancouver, British Columbia--(Newsfile Corp. - May 22, 2025) - Railtown AI Technologies Inc. (CSE: RAIL) (OTCQB: RLAIF) ("Railtown AI" or the "Company") a leader in intelligent software solutions, is proud to announce it will present its groundbreaking Langtracks Agentic Framework at Upper Bound 2025, taking place May 20-23 in Edmonton, Alberta. Hosted by the Alberta Machine Intelligence Institute (Amii), Upper Bound is Canada's flagship artificial intelligence event, attracting global AI innovators, researchers, and industry leaders.
Langtracks is a cutting-edge AI framework that autonomously selects and executes tasks using a range of tools, dramatically improving automation and efficiency. With its agentic architecture, Langtracks manages low-level operations, enabling developers to focus on higher-order problem-solving and innovation.
"Langtracks is built for the future of autonomous AI," said Cory Brandolini, CEO at Railtown AI Technologies Inc. "As open-source LLMs continue to evolve, organizations need frameworks that offer control, security, and deployment flexibility. Langtracks makes real-time, AI-driven automation not only possible but practical."
Langtracks is part of Railtown's growing suite of developer tools and services designed to accelerate intelligent application development. These include the Conductr Developer Productivity Engineering Platform, which streamlines team workflows and continuous improvement; RCA++, a Root Cause Analysis Agent for intelligent incident resolution; and Railtracks, a Universal Retrieval and Ingestion Engine. Railtracks simplifies ingestion of unstructured event data from any source, transforming it into a clean, unified format for use in LLMs, RAG applications, IoT systems, and real-time analytics. With pre-built connectors and a flexible pipeline, Railtracks ensures fast, scalable, and reliable data integration.
Upper Bound 2025 will feature a packed agenda of keynotes, demos, and workshops exploring the cutting edge of artificial intelligence. Railtown AI will be on-site throughout the event to demo Langtracks and connect with industry leaders interested in agentic AI architectures and scalable automation solutions.
For event details, visit: https://www.upperbound.ai/.
About Railtown AI Technologies Inc.
Railtown AI Technologies Inc. is a leader in developer productivity tools powered by artificial intelligence. Based in Vancouver, Canada, Railtown delivers solutions that streamline software development workflows, reduce downtime, and increase the speed of innovation for teams around the world. By embedding intelligence into every stage of the software lifecycle, Railtown is redefining how modern engineering teams work.
Follow us on social media
LinkedIn: https://www.linkedin.com/company/railtown-ai/
SUBSCRIBE FOR INVESTOR NEWSClick here to receive our latest investor news alerts.
ON BEHALF OF THE BOARD
"Cory Brandolini" Cory Brandolini, Chief Executive Officer
INVESTOR CONTACT
Rebecca KerswellInvestor Relations ContactEmail: investors@railtown.ai Phone: 1-604-417-4440
This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will," "may", "should", "intends", "anticipates", "expects" and similar expressions. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the future plans and objectives of the Company, the commencement of trading of the Company's common shares on the CSE, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are risks detailed from time to time in the filings made by the Company with securities regulators.
Readers are cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. As a result, the Company cannot guarantee that any forward-looking statement will materialize, and readers should not place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/253134
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Organto Foods Inc. Announces Resumption of Trading on the OTCQB Venture Market
Organto Foods Inc. Announces Resumption of Trading on the OTCQB Venture Market

USA Today

time4 hours ago

  • USA Today

Organto Foods Inc. Announces Resumption of Trading on the OTCQB Venture Market

VANCOUVER, BC / ACCESS Newswire / August 5, 2025 / Organto Foods Inc. (TSXV:OGO)(OTCQB:OGOFF), is pleased to announce that its shares will resume trading on the OTCQB Venture Market in the United States beginning August 5, 2025, under the ticker symbol 'OGOFF.' The Company's return to the OTCQB marks a significant step forward in Organto's strategic plan to expand its investor base in the U.S. and increase visibility in global capital markets. With renewed momentum, Organto plans to pursue an uplisting to the OTCQX, the highest tier of the OTC Markets, as its business evolves and it meets the required qualifications. The Company's shares remain eligible for electronic clearing and settlement in the United States through the Depository Trust Company ('DTC'). DTC is a subsidiary of the Depository Trust & Clearing Corporation, one of the world's largest securities depositories, and manages the electronic clearing and settlement of publicly traded companies in the United States. 'Resuming trading on the OTCQB is an important milestone that reflects the continued progress we've realized as we have realigned and restructured our business over the last 20 months, laying a strong foundation for sustained growth, stability and a clear path to profitability. We're passionately committed to building a world-class company serving the fast-growing healthy foods market, and in doing so creating lasting value for our partners, customers, team, and shareholders.' commented Steve Bromley, CEO and Co-Chair of Organto Foods Inc. 'When combined with our current listing on the Toronto Venture Exchange ('TSX-V) we believe this relisting will provide broad exposure to U.S. investors and in turn will enhance visibility and liquidity.' The OTCQB is a premier venture marketplace for entrepreneurial and developing US and international companies that are committed to providing a high-quality trading and information experience for their US investors. To be eligible, companies must meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, and undergo an annual verification and management certification process. The OTCQB is recognized by the U.S. Securities and Exchange Commission as an established public market and provides current public information to investors that need to analyze, value, and trade securities. Investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on . ON BEHALF OF THE BOARD Steve Bromley Co-Chair of the Board and CEO For more information, contact: John Rathwell, Senior Vice President, Corporate Development 647 629 0018 info@ Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. ABOUT ORGANTO Organto is a leading provider of branded, private label, and distributed organic and non-GMO fruit and vegetable products using a strategic asset-lighter business model to serve a growing socially responsible and health-conscious consumers. Organto's business model is rooted in its commitment to sustainable business practices focused on environmental responsibility and a commitment to the communities where it operates, its people, and its shareholders. FORWARD LOOKING STATEMENTS This news release may include certain forward-looking information and statements, as defined by law, including without limitation, Canadian securities laws and the 'safe harbor' provisions of the US Private Securities Litigation Reform Act ('forward-looking statements'). In particular, and without limitation, this news release contains forward-looking statements respecting the Company's belief that the return to the OTCQB marks a significant step forward in Organto's strategic plan to expand its investor base in the U.S. and increase visibility in global capital markets; the Company's belief that it will uplist to the OTCQX as its business evolved and meets required qualifications; the Company's belief that it has made continued progress as its business has been realigned and restructured over the last 20 months, laying a strong foundation for sustained growth, stability and a clear path to profitability; the Company's belief that its commitment to building a world-class company serving the fast-growing healthy foods market, should lead to creating lasting value for its partners, customers, team, and shareholders; and the Company's belief that the OTCQB relisting will provide broad exposure to U.S. investors and in turn will enhance visibility and liquidity. Forward-looking statements are based on several assumptions that may prove to be incorrect, including, without limitation, the assumption that the Company's relisting on the OTCQB is a positive development for the Company. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in forward-looking statements in this news release include, among others, uncertainty regarding the regulatory risks; risks related to market volatility and economic conditions; risks related to unforeseen delays; and risks that necessary financing will be unavailable when needed. For further information on these and other risks and uncertainties that may affect the Company's business, see the 'Risks and Uncertainties' and 'Forward-Looking Statements' sections of the Company's annual and interim management's discussion and analysis filings with the Canadian securities regulators, which are available under the Company's profile at Except as required by law, Organto does not assume any obligation to release publicly any revisions to forward-looking statements contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. SOURCE: Organto Foods, Inc. View the original press release on ACCESS Newswire

Telo Genomics to Present at the OTCQB Venture Virtual Investor Conference
Telo Genomics to Present at the OTCQB Venture Virtual Investor Conference

Yahoo

time6 hours ago

  • Yahoo

Telo Genomics to Present at the OTCQB Venture Virtual Investor Conference

Toronto, Ontario--(Newsfile Corp. - August 5, 2025) - Telo Genomics Corp. (TSXV: TELO) (OTCQB: TDSGF) (the "Company" or "Telo") a leader in the development of diagnostic and prognostic tests for human disease through the analysis of telomeres, today announced that it will present at the OTCQB Venture Virtual Investor Conference on August 7th, 2025. This will be a live, interactive online event where investors are invited to ask the company questions in real-time. Telo Genomics will be represented by Guido Baechler, Executive Chairman of the Board, and discuss the company's new strategy for accelerating the development and commercialization of the multiple myeloma MRD and smoldering myeloma assay applications. The OTCQB Venture Virtual Investor Conference is hosted by Telo Genomics will present live on Thursday, August 7th at 1:00 pm – 1:30 pm ET. Investors can register for the presentation via this link: register here. An archived webcast will also be available after the event. About Virtual Investor Conferences® Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors. Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors. About Telo Genomics Telo Genomics is a biotech company pioneering the most comprehensive telomere platform in the industry with powerful applications and prognostic solutions. These include liquid biopsies and related technologies in oncology and neurological diseases. Liquid biopsy is a rapidly growing field of significant interest to the medical community for being less invasive and more easily replicated than traditional diagnostic approaches. By combining our team's considerable expertise in quantitative analysis of 3D telomeres with molecular biology and artificial intelligence to recognize disease associated genetic instability, Telo Genomics is developing simple and accurate products that improve day-to-day care for patients by serving the needs of pathologists, clinicians, academic researchers and drug developers. The benefits of our proprietary technology have been substantiated in 160+ peer reviewed publications and in 30+ clinical studies involving more than 3,000 patients with multiple cancers and Alzheimer's disease. Our lead application, Telo-MM is being developed to provide important, actionable information to medical professionals in the treatment of Multiple Myeloma, a deadly form of blood cancer. For more information, please visit For further information, please contact:Guido BaechlerExecutive Chairman647-477-9365info@ Centre, South Tower101 College Street, Suite 200Toronto, ON, M5G Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Note Regarding Forward-Looking StatementsCertain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "will", or variations of such words and phrases or statements that certain actions, events or results "will" occur. Certain forward-looking statements, including statements regarding the Company's receipt of TSXV acceptance of the stock option grant are based on the Company's estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including capital expenditures and other costs. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws. To view the source version of this press release, please visit

Beach Cities Commercial Bank Announces Second Quarter 2025 Financial Results
Beach Cities Commercial Bank Announces Second Quarter 2025 Financial Results

Business Wire

time7 hours ago

  • Business Wire

Beach Cities Commercial Bank Announces Second Quarter 2025 Financial Results

IRVINE, Calif.--(BUSINESS WIRE)--Beach Cities Commercial Bank, (OTCQB: BCCB) (the "Bank"), today announced financial results for the quarter ended June 30, 2025. The Bank was incorporated under the laws of the State of California on April 11, 2022. The Bank opened for business on June 12, 2023, after receiving all necessary regulatory approvals, and it began providing a full range of banking services from its branch locations in Irvine and Encinitas, California. The Bank operates primarily in the Southern California commercial markets, offering business and personal deposit accounts. The lending products include loans secured by commercial real estate, commercial and industrial loans, guidance lines of credit supporting bridge loans, lines of credit, SBA 7A and 504 loans, SBA express lines of credit, and State guaranteed loans. The Bank has a state-of-the-art technology platform and offers cash management products and services to allow its customers the ability to focus on their business and not worry about banking. Significant items for the period include: Total assets were $162.5 million as of June 30, 2025, which increased by $81.3 million from June 30, 2024 (100% growth). Total loans were $131.3 million as of June 30, 2025, which increased by $68.2 million from June 30, 2024, (108% growth). Total deposits were $133.0 million as of June 30, 2025, which increased by $71.7 million from June 30, 2024 (117%). Total liquidity remains high at $27.6 million, which equates to 17.01% of the Bank's total assets. The Bank also maintains contingent available borrowing sources at $20.3 million which equals 12.5% of total assets. The loan portfolio average yield was 7.57% which contributed to a healthy net interest margin at 3.48% as of June 30, 2025. The Bank maintains a reserve for credit losses of $1.272 million which equates to 0.97% of total loans. As of June 30, 2025, the Bank had zero dollars in both delinquent and non-performing loans. The shareholders' equity was at $14.9 million as of June 30, 2025, which was reduced by $305k from December 31, 2024, mainly due to the operating loss. The Bank's tier 1 capital to average assets ratio was at 9.55%, which is considered well-capitalized under the regulatory framework. The Bank reported the second-quarter of 2025 net loss of $260.7k which increased slightly from the first-quarter of 2025 loss of $242k. During the second quarter, the Bank increased its loan portfolio by $7.85 million, which increased its quarterly total interest income by $476.1k. During the second quarter of 2025 the total interest income was $2.77 million compared to $2.28 million recorded during the first quarter of 2025, an increase of 21%. The Bank's interest expense from the interest-bearing deposits was $1.26 million for the second quarter of 2025 compared to $1.08 million for the first quarter of 2025 an increase of 16.7%. The interest expense increased due to the growth in the short-term institutional CDs deposits. The Bank has launched a campaign to replace these high- cost institutional CD deposits with non-interest-bearing deposits to reduce the interest cost. During the second quarter of 2025, the Bank increased its borrowings from the Federal Home Loan Bank of San Francisco (FHLBSF). As a result, the Bank's borrowing interest expense increased to $47k in the second quarter of 2025 compared to $4.9k interest expense from borrowings during the first quarter, 2025. The second quarter 2025 net interest income increased by $302k from the first quarter 2025, an increase of 25.1%. In the second quarter of 2025, the Bank sold SBA loans which netted gains of $168k compared to $255k in gain on sale realized in the first quarter 2025. Total non-interest expenses for the second quarter of 2025 were $1.88 million compared to $1.71 million incurred during the first quarter, 2025, an increase of $171.1k. During the second quarter, the technology/data processing expense increased due to the Bank's growth in opening new accounts and adding new products/services such as Zelle. The legal expenses were $49k in the second quarter, 2025, compared to $16.5k in the first quarter, 2025. The $32.5k increase was for non-recurring legal costs related to leadership and staff changes incurred during the second quarter, 2025. The Bank continues to manage its operating expenses tightly. As noted above, the Bank's liquidity remains above 17% of total assets. The Bank has also established contingent lines of borrowings with its correspondent banks, including Federal home loan Bank of San Francisco. As of June 30, 2025, total contingent borrowing sources unused totaled $20.3 million or 12.5% of total assets outstanding. 'The Bank's asset quality remains strong with no delinquent and non-performing loans on its balance sheet. Our quality deal flow for both loans and deposits continue to look strong,' commented Matt Blackmer, Chief Credit Officer. 'In June this year, the Bank completed its two years in operation. The Bank's growth has been in par with our planned projected growth. Our goal for the remainder of this year is to continue to grow revenues and control operating costs. With this trajectory, we plan to achieve sustained profitability,' commented Najam Saiduddin, Chief Financial Officer. 'As we embark on our search for our new President/CEO, the Bank continues to grow in a thoughtful, safe, and sound manner. We continue our commitment to high ethics and business standards, all the hallmarks in creating a successful enterprise. Our Board, and the entire Beach Cities Commercial Bank team remains focused in attaining and achieving our strategic goals and objectives,' commented Angela Bienert, Chairperson. Beach Cities Commercial Bank is a full-service bank, serving the business, commercial and professional markets. The Bank meets the financial needs of its business clients with loans for working capital, equipment, owner-occupied and investment commercial real estate, and a full array of cash management services and deposit products for businesses and their owners. Beach cities Commercial Bank meets its clients' needs through its head office and branch in Irvine and regional office and branch in Encinitas, California. The Bank's stock is currently trading on the OTCQB platform under the 'BCCB' stock symbol. For more information, please visit FORWARD-LOOKING STATEMENT: This news release contains a number of forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These statements may be identified using words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "likely," "may," "outlook," "plan," "potential," "predict," "project," "should," "will," "would," and similar terms and phrases. including references to assumptions. Forward-looking statements are based upon various assumptions and analyses made by the Bank (which includes the Bank) considering management's experience and its perception of historical trends. Current conditions and expected future developments, as well as other factors it believes are appropriate under the circumstances. These statements do not guarantee future performance and are subject to risks, uncertainties, and other factors (many of which are beyond the Bank's control) that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Accordingly, you should not place undue reliance on such statements. factors that could affect the Bank's results include, without limitation, the following: the timing and occurrence or non-occurrence of events may be subject to circumstances beyond the Bank's control; there may be increases in competitive pressure among financial institutions or from non-financial institutions; changes in the interest rate environment may reduce interest margins; changes in deposit flows, loan demand or real estate values may adversely affect the business of the Bank; unanticipated or significant increases in loan losses; changes in accounting principles, policies or guidelines may cause the Bank's financial condition to be perceived differently; changes in corporate and/or individual income tax laws may adversely affect the Bank's financial condition or results of operations; general economic conditions, either nationally or locally in some or all areas in which the Bank conducts business, or conditions in the securities markets or the banking industry may be less favorable than the Bank currently anticipates; legislation or regulatory changes may adversely affect the Bank's business; technological changes may be more difficult or expensive than the Bank anticipates; there may be failures or breaches of information technology security systems; success or consummation of new business initiatives may be more difficult or expensive than the Bank anticipates; or litigation or other matters before regulatory agencies, whether currently existing or commencing in the future, may delay the occurrence or non-occurrence of events longer than the Bank anticipates. Beach Cities Commercial Bank Unaudited Statements of Financial Condition Asset As of Dec 31, 2024 Qtr. Growth $ Qtr. Growth % As of June 30, 2024 Annual Growth $ Annual Growth % Debt Securities Available for Sale $ 998,522 984,026 14,496 1 % $ 992,559 5,963 1 % FHLB Stock $ 572,000 124,800 447,200 358 % $ 108,500 463,500 427 % Total Investments $ 1,570,522 1,108,826 461,696 42 % $ 1,101,059 469,463 43 % Gross Loans $ 131,335,545 105,648,160 25,687,385 24 % $ 63,135,638 68,199,907 108 % Allowance for Credit Losses ($ 1,272,000 ) (1,214,000 ) (58,000 ) (5 %) ($ 726,000 ) (546,000 ) (75 %) Net Loans $ 130,063,545 104,434,160 25,629,385 25 % $ 62,409,638 67,653,907 108 % Fixed Assets $ 163,382 189,606 (26,225 ) (14 %) $ 222,669 (59,288 ) (27 %) Right of Use Assets $ 1,202,008 1,386,721 (184,713 ) (13 %) $ 1,566,409 (364,401 ) (23 %) Prepaid $ 1,170,016 1,061,411 108,606 10 % $ 1,158,273 11,743 1 % Total Other Assets $ 692,369 492,926 199,444 40 % $ 388,870 303,500 78 % Total Assets $ 162,491,738 $ 130,785,714 $ 31,706,024 24 % $ 81,192,436 $ 81,299,303 100 % Demand Deposit Accounts $ 15,011,398 $ 13,870,624 $ 1,140,774 8 % $ 7,192,511 $ 7,818,887 109 % NOW Accounts $ 922,522 938,289 (15,767 ) (2 %) $ 859,602 62,920 7 % Money Market Accounts $ 50,456,931 48,539,814 1,917,116 4 % $ 26,145,078 24,311,852 93 % Total Demand Deposits $ 66,390,850 63,348,727 3,042,123 5 % $ 34,197,191 32,193,659 94 % Savings Accounts $ 5,060,922 5,058,477 2,445 0 % $ 39,286 5,021,636 12,782 % Total CDs $ 61,587,394 44,484,698 17,102,696 38 % $ 27,101,286 34,486,108 127 % Total Deposits $ 133,039,166 112,891,902 20,147,264 18 % $ 61,337,763 71,701,403 117 % Other Borrowed < 1 Yr $ 12,000,000 - 12,000,000 100 % $ 0 12,000,000 100 % Total Other Liabilities $ 2,526,114 2,661,935 (135,821 ) (5 %) $ 2,846,402 (320,288 ) (11 %) Total Liabilities $ 147,533,280 115,553,837 31,979,444 28 % $ 64,184,166 83,349,115 130 % Common Stock $ 25,116,895 25,116,895 - 0 % $ 25,019,375 97,520 0 % Surplus $ 667,786 470,347 197,439 42 % $ 416,786 251,000 60 % Retained Earnings ($ 10,355,311 ) (5,831,485 ) (4,523,826 ) (78 %) ($ 5,831,485 ) (4,523,826 ) (78 %) FAS 115 Unrealized Gain/Loss ($ 296 ) (54 ) (242 ) (448 %) ($ 1,424 ) 1,128 79 % Profit/Loss YTD ($ 502,616 ) (4,523,826 ) 4,021,210 89 % ($ 2,594,981 ) 2,092,365 81 % Total Equity $ 14,926,458 $ 15,231,877 ($ 305,419 ) (2 %) $ 17,008,270 ($ 2,081,812 ) (12 %) Total Liabilities & Equity $ 162,491,738 $ 130,785,714 $ 31,706,024 24 % $ 81,192,436 $ 81,299,303 100 % Expand BEACH CITIES COMMERCIAL BANK UNAUDITED STATEMENT OF OPERATIONS For the Three Months Ended For the Six Months Ended For the Twelve Months Ended For the twelve Months Ended June 30, 2025 March 31, 2025 December 31, 2024 June 30, 2025 June 30, 2024 December 31, 2024 December 31, 2023 Interest Income: Interest and fees on loans $ 2,515,860 $ 2,062,683 $ 1,634,051 $ 4,578,543 $ 1,643,372 $ 4,692,037 $ 336,181 Interest on securities 18,549 13,586 13,814 32,135 26,259 54,054 17,320 Interest on federal funds sold and other interest-bearing deposits 231,188 207,270 213,719 438,458 467,161 860,018 821,283 Total Interest Income 2,765,597 2,283,539 1,861,584 5,049,136 2,136,792 5,606,109 1,174,784 Interest Expense: Interest on Deposits 1,212,316 1,074,406 859,137 2,286,722 841,701 2,404,973 348,700 Interest on Borrowings 47,128 4,968 945 52,096 19 12,941 - Total Interest Expense 1,259,444 1,079,374 860,082 2,338,818 841,720 2,417,914 348,700 Net Interest Income 1,506,153 1,204,165 1,001,502 2,710,318 1,295,072 3,188,195 826,084 Provisions for Credit Losses 64,000 - 381,000 64,000 429,000 927,000 317,000 Net interest income after provisions for loan losses 1,442,153 1,204,165 620,502 2,646,318 866,072 2,261,195 509,084 Non-interest income: Service charges, fees and other 9,656 7,769 3,004 17,425 9,264 18,662 1,706 Gain on sale of loans 168,249 255,034 127,399 423,283 - 127,399 - 177,905 262,803 130,403 440,708 9,264 146,061 1,706 Non-Interest expense: Salaries and employee benefits 1,167,215 1,134,486 1,134,175 2,301,701 2,240,449 4,481,445 2,318,336 Occupancy and Equipment expenses 171,924 167,812 169,431 339,736 346,325 691,504 408,909 Organization Expenses - - - - - 1,045,800 Data Processing 192,403 150,569 172,028 342,972 303,432 628,030 332,424 Legal 49,198 16,485 19,633 65,683 34,785 Professional/Consulting 100,652 41,749 40,101 142,401 248,524 444,450 469,110 Other Expenses 198,597 197,752 204,097 396,349 295,201 684,053 294,946 Total Non-interest expense 1,879,989 1,708,853 1,739,465 3,588,842 3,468,716 6,929,482 4,869,525 Income (Loss) before taxes (259,931 ) (241,885 ) (988,560 ) (501,816 ) (2,593,380 ) (4,522,226 ) (4,358,735 ) Income tax expense 800 - - 800 1,600 1,600 800 Net Income (Loss) $ (260,731 ) $ (241,885 ) $ (988,560 ) $ (502,616 ) $ (2,594,980 ) $ (4,523,826 ) $ (4,359,535 ) Earnings per share ("EPS"): Basic $ (0.10 ) $ (0.09 ) $ (0.39 ) $ (0.20 ) $ (1.02 ) $ (1.76 ) $ (1.71 ) Common Shares Outstanding 2,565,864 2,565,864 2,565,864 $ 2,565,864 2,556,112 2,565,864 2,556,112 Expand

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store