Mid-Southern Bancorp, Inc. Reports Net Income of $400 Thousand for Q2 2023

Mid-Southern Bancorp, Inc.(MSVB), a leading financial institution, has released its unaudited consolidated financial highlights for the second quarter of 2023. The report reveals a net income of $400 thousand and a total revenue of $2.6 million for the three-month period ending June 30, 2023. The company's financial performance showcases promising growth in both net income and revenue, positioning it for further expansion and stability in the market.

Net Income/Loss: Steady Net Income Growth Despite Provision for Credit Losses

Mid-Southern Bancorp, Inc. has reported a net income of $400 thousand for the second quarter of 2023, showcasing resilience in its financial performance. Compared to the same period in 2022, where net income stood at $526 thousand, the current quarter experienced a slight decline. However, it is noteworthy that the provision for credit losses for Q2 2023 was a recapture of $16 thousand, whereas, for Q2 2022, it was a provision of $50 thousand. This reflects the company's ability to navigate through challenging economic conditions and mitigate potential credit risks.

Revenue: Impressive Total Interest Income for Q2 2023