v3.26.1
Disclosures About Fair Value of Assets and Liabilities (Tables)
 6 Months Ended
Jun. 30, 2026
Disclosures About Fair Value of Assets and Liabilities [Abstract]  
Schedule of Consolidated Balance Sheets Measured at Fair Value on a Recurring Basis

The following tables present the fair value measurements of assets and liabilities recognized in the accompanying consolidated balance sheets measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fell on June 30, 2026 and December 31, 2025:

 

   June 30, 2026 
       Quoted prices   Significant     
       in active   other   Significant 
       markets for   observable   unobservable 
       identical assets   inputs   inputs 
   Fair value   (Level 1)   (Level 2)   (Level 3) 
Assets                
U.S. Government and federal agency  $15,009,750   $
-
   $15,009,750   $
       -
 
U.S. Government sponsored enterprises (GSEs)   1,823    
-
    1,823    
-
 
Mortgage-backed: GSE residential   11,113,288    
-
    11,113,288    
-
 
State and political subdivision securities   12,428,203    
-
    12,428,203    
-
 
Interest rate swaps   15,693,711    
-
    15,693,711    
-
 
Liabilities                    
Interest rate swaps   15,693,711    
-
    15,693,711    
-
 
   December 31, 2025 
       Quoted prices   Significant     
       in active   other   Significant 
       markets for   observable   unobservable 
       identical assets   inputs   inputs 
   Fair value   (Level 1)   (Level 2)   (Level 3) 
Assets                
U.S. Government and federal agency  $14,830,375   $
-
   $14,830,375   $
      -
 
U.S. Government sponsored enterprises (GSEs)   5,395    
-
    5,395    
-
 
Mortgage-backed: GSE residential   12,787,023    
-
    12,787,023    
-
 
State and political subdivision securities   15,513,879    
-
    15,513,879    
-
 
Interest rate swaps   14,130,763    
-
    14,130,763    
-
 
Liabilities                    
Interest rate swaps   14,130,763    
-
    14,130,763    
-
 
Schedule of Fair Value Measurement of Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis

The following tables present the fair value measurement of assets and liabilities measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fell on June 30, 2026 and December 31, 2025:

 

   June 30, 2026 
   Fair Value Measurements Using 
   Fair value   (Level 1)   (Level 2)   (Level 3) 
Foreclosed assets held for sale  $
      -
   $
     -
   $
    -
   $
     -
 
Collateral-dependent loans  $
-
   $
-
   $
-
   $
-
 

 

    December 31, 2025  
    Fair Value Measurements Using  
    Fair value     (Level 1)     (Level 2)     (Level 3)  
Foreclosed assets held for sale   $
      -
     $
     -
     $
    -
     $
     -
  
Collateral-dependent loans   $ 230,000     $
-
     $
-
     $ 230,000  
Schedule of Additional Quantitative Information About Assets Measured at Fair Value

The following tables present additional quantitative information about assets measured at fair value on a nonrecurring basis and for which we have utilized Level 3 inputs to determine fair value as of June 30, 2026 and December 31, 2025:

 

   June 30, 2026 
           Significant     
       Valuation   unobservable   Weighted 
   Fair value   techniques(1)   inputs   average 
Foreclosed assets held for sale  $
-
    Appraisal    Estimated costs to sell    
   -
 
Collateral-dependent loans  $
-
    Appraisal    Estimated costs to sell    
-
 

 

    December 31, 2025  
                Significant        
          Valuation     unobservable     Weighted  
    Fair value     techniques(1)     inputs     average  
Foreclosed assets held for sale   $
-
       Appraisal       Estimated costs to sell      
   -
  
Collateral-dependent loans   $ 230,000       Appraisal       Estimated costs to sell       8 %
Schedule of Estimated Fair Values of Financial Instruments

The carrying amounts and estimated fair values of financial instruments not carried at fair value, on June 30, 2026 and December 31, 2025, are as follows:

 

   June 30, 2026 
   Carrying   Fair value measurements 
   amount   Level 1   Level 2   Level 3   Total 
Financial assets                    
Cash and cash equivalents  $170,114,306   $170,114,306   $
-
   $
-
   $170,114,306 
Held-to-maturity securities                         
U.S. Government and federal agency   42,519,879    
-
    41,948,876    
-
    41,948,876 
U.S. Government-sponsored enterprises (GSEs)   13,728,209    
-
    13,452,138    
-
    13,452,138 
Mortgage-backed: GSE residential   34,191,493    
-
    31,889,808    
-
    31,889,808 
State and political subdivisions   3,903,330    
-
    3,721,150    
-
    3,721,150 
    94,342,911    
-
    91,011,972    
-
    91,011,972 
                          
Loans Receivable   1,921,813,487    
-
    
-
    1,899,203,000    1,899,203,000 
Interest rate swaps   15,693,711    
-
    15,693,711    
-
    15,693,711 
                          
Financial Liabilities                         
Time Deposits   516,634,975    
-
    513,166,000    
-
    513,166,000 
Long-Term borrowings   73,247,223    
-
    66,840,000    
-
    66,840,000 
Short-Term borrowings   102,569,888    102,569,888    
-
    
-
    102,569,888 
Interest rate swaps   15,693,711    
-
    15,693,711    
-
    15,693,711 
   December 31, 2025 
   Carrying   Fair value measurements 
   amount   Level 1   Level 2   Level 3   Total 
Financial assets                    
Cash and cash equivalents  $144,318,929   $144,318,929   $
-
   $
-
   $144,318,929 
Held-to-maturity securities                         
U.S. Government and federal agency   42,681,410    
-
    41,878,600    
-
    41,878,600 
U.S. Government-sponsored enterprises (GSEs)   13,599,444    
-
    13,308,535    
-
    13,308,535 
Mortgage-backed: GSE residential   37,534,375    
-
    35,524,297    
-
    35,524,297 
State and political subdivisions   3,912,892    
-
    3,744,446    
-
    3,744,446 
    97,728,121    
-
    94,455,878    
-
    94,455,878 
                          
Loans Receivable   1,855,437,066    
-
    
-
    1,820,894,000    1,820,894,000 
Interest rate swaps   14,130,763    
-
    14,130,763    
-
    14,130,763 
                          
Financial Liabilities                         
                          
Time Deposits   487,032,489    
-
    485,172,000    
-
    485,172,000 
Long-Term borrowings   78,587,361    
-
    77,385,800    
-
    77,385,800 
Short-Term borrowings   88,251,290    88,251,290    
-
    
-
    88,251,290 
Interest rate swaps   14,130,763    
-
    14,130,763    
-
    14,130,763