v3.26.1
Premises and Equipment
 3 Months Ended
Mar. 31, 2026
Premises and Equipment [Abstract]  
Premises and Equipment

Note 4. Premises and Equipment

 

   March 31,   December 31, 
   2026   2025 
Land and land improvements  $17,199,368   $17,199,368 
Buildings and improvements   48,360,817    48,312,176 
Furniture, fixtures and equipment   13,414,348    13,285,338 
Construction in progress   417,546    416,217 
    79,392,079    79,213,099 
Less: Accumulated depreciation   (29,947,340)   (29,447,897)
Total  $49,444,739   $49,765,202 

 

Depreciation expense, included in depreciation and amortization on the consolidated statements of income, for the three months ended March 31, 2026, and 2025 amounted to $ 557,818 and $ 550,401, respectively.

 

Construction in progress includes capital expenditures for branch renovations and construction of a new branch. Branch renovations are substantially complete and estimated costs to complete are insignificant. Estimated costs to complete the new branch cannot be reasonably estimated as construction has not been started as information necessary for construction bids has not been completed.