v3.25.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation [Abstract]    
Net income $ 2,363,186 $ 2,298,496
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 380,000 286,000
Provision for (recovery of) credit losses 268,000 0
Amortization (accretion) of right of use asset (3,000) 3,000
Equity security dividends reinvested (8,000) (7,000)
Unrealized loss (gain) on equity security (9,000) 6,000
Write down of other real estate owned 83,000 0
Gain on insurance proceeds 0 (143,000)
Loss on fair value hedge 64,000 0
Settlement of fair value hedge (94,000) 0
Loss on sale of debt securities (0) 32,000
Stock based compensation 163,000 9,000
Amortization of debt issuance costs 3,000 3,000
Amortization of premiums and (accretion of discounts), net (227,000) (489,000)
Increase in bank owned life insurance cash surrender value (211,000) (185,000)
Increase (decrease) in    
Deferred loan fees and costs, net 41,000 41,000
Accrued interest payable (83,000) 735,000
Other liabilities 225,000 (246,000)
Decrease (increase) in    
Mortgage loans held for sale (484,000) 0
Accrued interest receivable 50,000 (10,000)
Other assets (624,000) (406,000)
Net cash provided by operating activities 1,897,000 1,927,000
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation [Abstract]    
Proceeds from maturity and call of securities, Available for sale 7,110,000 9,165,000
Available for sale 0 521,000
Available for sale 0 (3,269,000)
Held to maturity (773,000) 0
Loans made to customers, net of principal collected (34,491,000) (22,702,000)
(Purchase) redemption of stock in FHLB of Atlanta (269,000) (533,000)
Proceeds from insurance 0 143,000
Purchases of premises, equipment and software (206,000) (1,132,000)
Net cash used in investing activities (28,629,000) (17,807,000)
Cash flows from financing activities    
Noninterest-bearing deposits 14,200,000 (6,377,000)
Interest-bearing deposits (24,108,000) (23,373,000)
Securities sold under repurchase agreements (792,000) (4,002,000)
Federal Home Loan Bank of Atlanta advances 5,000,000 10,000,000
Federal Reserve Bank advances 0 21,000,000
Long-term debt principal payments (944,000) (945,000)
Dividends paid, net of reinvestments (0) 603,000
Net cash used in financing activities (6,644,000) (4,300,000)
Net decrease in cash and cash equivalents (33,376,000) (20,180,000)
Cash and cash equivalents at beginning of period 64,659,000 44,690,000
Cash and cash equivalents at end of period 31,283,000 24,510,000
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest 8,771,000 7,200,000
Cash paid during the period for income taxes 134,000 190,000
Supplemental disclosure of non-cash transactions:    
Net unrealized gain (loss) on securities available for sale 2,682,000 (530,000)
(Decrease) increase in fair value of interest rate swap agreements (738,000) 0
Additions to right of use assets obtained in exchange for lease liabilities 0 705,000
Foreclosure in settlement of loan receivable $ (1,665,000) $ 0