Borrowings |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Debt Disclosure [Abstract] | |
| Borrowings | Note 4: Borrowings The Company had outstanding borrowings as of March 31, 2026 and December 31, 2025, comprised solely of advances from the Federal Home Loan Bank (FHLB) totaling $35,000,000, bearing interest at a rate of 3.80% and weighted-average rate of 4.02%, respectively. The advances outstanding at December 31, 2025 were scheduled to mature in February 2026 and were renewed with a new maturity date in May 2026. Outstanding advances at March 31, 2026 were secured by a pledge of all shares of FHLB stock owned, and investment securities with a fair value of approximately $35,000,000. Based on a collateral pledge of qualifying mortgage loans of $24,154,000 and investment securities with a pledged remaining fair value of approximately $10,571,000, the Company was eligible to borrow up to an additional approximate amount of $32,869,000 as of March 31, 2026. Outstanding advances at December 31, 2025 were secured by a pledge of all shares of FHLB stock owned, and investment securities with a fair value of approximately $35,000,000. Based on a collateral pledge of qualifying mortgage loans of $22,101,000 and investment securities with a pledged remaining fair value of approximately $11,561,000, the Company was eligible to borrow up to an additional approximate amount of $31,597,000 as of December 31, 2025. The Company has an unsecured federal funds purchase line of credit through the Bankers’ Bank with a maturity date of June 30, 2026. The maximum amount of the established unsecured line is $3,000,000 at March 31, 2026 and December 31, 2025. The line is subject to annual reviews and terms may be altered in the event of significant change in the financial condition of the Company. Interest rates are variable. There were no funds advanced on this line as of March 31, 2026 and December 31, 2025. |