v3.26.1
CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income $ 86,731 $ 57,130
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation 22,741 13,211
Amortization and accretion of investments, net 2,368 7,633
Amortization and accretion of fair value discount, net (791) (1,075)
Amortization of intangible assets 3,203 6,063
Deferred loan fees 2,048 24,041
Deferred income tax provision 6,775 1,537
Increase in cash surrender value on bank owned life insurance (16,857) (16,509)
Amortization of right-of-use asset 2,013 2,043
(Increase) decrease in interest receivable (19,033) 4,138
Other assets (318,877) (1,877)
Other liabilities 4,316 (80,339)
Net cash flows (used in) provided by operating activities (225,363) 15,996
Cash flows from investing activities:    
Proceeds from maturities and paydowns of available-for-sale securities 53,105 62,136
Net increase (decrease) in loans 978,230 (832,657)
Purchases of premises and equipment (9,354) (2,956)
Net cash flows provided by (used in) investing activities 1,021,981 (773,477)
Cash flows from financing activities:    
Net increase (decrease) in customer deposits 988,077 (287,202)
Advances and deposits by borrowers (221,113) (195,291)
Payments on borrowings   (350,000)
Net cash flows provided by (used in) financing activities 766,964 (832,493)
Net change in cash and cash equivalents 1,563,582 (1,589,974)
Cash and cash equivalents at beginning of year 6,428,668 5,278,477
Cash and cash equivalents at end of year 7,992,250 3,688,503
Supplemental cash flow information:    
Interest paid 574,500 $ 468,325
Lease liabilities arising from obtaining right of use assets $ 24,675