Loans and Allowance for Credit Losses (Tables)

6 Months Ended

Jun. 30, 2026

Receivables [Abstract]

Schedule of loans by major category


		June 30, 2026			December 31, 2025
Real estate:
One to four family residential		$	125,354,683		$	129,672,893
Home equity			1,869,908			1,975,201
Equity line of credit			8,177,998			6,930,038
Construction			12,786,675			12,175,080
Multi-family			1,201,689			1,067,972
Commercial			1,886,056			1,936,965
Commercial installment			3,694,907			3,505,245
Consumer:
Marine and recreational			29,664,230			30,242,927
Other consumer			2,580,142			3,207,401

Subtotal			187,216,288			190,713,722
Allowance for credit losses			(1,182,780)			(1,142,629)
Unearned loan fees			(162,585)			(155,572)
Loans, net		$	185,870,923		$	189,415,521

Schedule of changes in allowance


		June 30, 2026			December 31, 2025
Real estate:
One to four family residential		$	125,354,683		$	129,672,893
Home equity			1,869,908			1,975,201
Equity line of credit			8,177,998			6,930,038
Construction			12,786,675			12,175,080
Multi-family			1,201,689			1,067,972
Commercial			1,886,056			1,936,965
Commercial installment			3,694,907			3,505,245
Consumer:
Marine and recreational			29,664,230			30,242,927
Other consumer			2,580,142			3,207,401

Subtotal			187,216,288			190,713,722
Allowance for credit losses			(1,182,780)			(1,142,629)
Unearned loan fees			(162,585)			(155,572)
Loans, net		$	185,870,923		$	189,415,521

Changes in the allowance for the three and six months ended June 30, 2026 and 2025, are as follows:


		For the three months ended June 30, 2026
		Beginning			Provision for									Ending
		Balance			Credit Loss			Charge-offs				Recoveries		Balance
Real estate:
One to four family residential		$	605,128		$	(71,543)		$	—		$	—		$	533,585
Home equity			9,081			(1,122)			—			—			7,959
Equity line of credit			35,920			(1,110)			—			—			34,810
Construction			136,336			6,934			—			—			143,270
Multi-family			5,875			(760)			—			—			5,115
Commercial			20,312			(423)			—			—			19,889
Commercial installment			49,882			(2,341)			—			—			47,541
Consumer:
Marine and recreational			280,267			108,862			(27,840)			—			361,289
Other consumer			23,630			4,902			—			790			29,322
Total		$	1,166,431		$	43,399		$	(27,840)		$	790		$	1,182,780


		For the six months ended June 30, 2026
		Beginning			Provision for									Ending
		Balance			Credit Loss			Charge-offs				Recoveries		Balance
Real estate:
One to four family residential		$	601,094		$	(67,509)		$	—		$	—		$	533,585
Home equity			9,156			(1,197)			—			—			7,959
Equity line of credit			32,124			2,686			—			—			34,810
Construction			136,781			6,489			—			—			143,270
Multi-family			4,951			164			—			—			5,115
Commercial			19,727			162			—			—			19,889
Commercial installment			35,804			11,737			—			—			47,541
Consumer:
Marine and recreational			277,395			137,611			(53,717)			—			361,289
Other consumer			25,597			1,945			—			1,780			29,322
Total		$	1,142,629		$	92,088		$	(53,717)		$	1,780		$	1,182,780


		For the three months ended June 30, 2025
		Beginning			Provision for									Ending
		Balance			Credit Loss			Charge-offs			Recoveries			Balance
Real estate:
One to four family residential		$	739,393		$	(46,277)		$	—		$	—		$	693,116
Home equity			12,660			(1,735)			—			—			10,925
Equity line of credit			33,051			2,853			—			—			35,904
Construction			99,470			21,162			—			—			120,632
Multi-family			7,827			(1,505)			—			—			6,322
Commercial			24,803			(1,510)			—			—			23,293
Commercial Installment			38,567			(1,210)			—			—			37,357
Consumer:
Marine and recreational			207,041			35,853			—			—			242,894
Other consumer			27,443			(1,534)			—			—			25,909
Total		$	1,190,255		$	6,097		$	—		$	—		$	1,196,352


		For the six months ended June 30, 2025
		Beginning			Provision for									Ending
		Balance			Credit Loss			Charge-offs			Recoveries			Balance
Real estate:
One to four family residential		$	639,578		$	53,538		$	—		$	—		$	693,116
Home equity			11,020			(95)			—			—			10,925
Equity line of credit			28,634			7,270			—			—			35,904
Construction			73,444			47,188			—			—			120,632
Multi-family			6,251			71			—			—			6,322
Commercial			30,624			(7,331)			—			—			23,293
Commercial Installment			42,629			(5,272)			—			—			37,357
Consumer:
Marine and recreational			259,197			(16,303)			—			—			242,894
Other consumer			35,045			(9,136)			—			—			25,909
Total		$	1,126,422		$	69,930		$	—		$	—		$	1,196,352

Schedule of credit risk profile of loan portfolio


		Total Loans by Origination Year
		2026			2025			2024			2023			2022			Prior			Revolving			Total
At June 30, 2026
Real estate
One to four family residential
Performing		$	5,974,095		$	13,673,406		$	16,215,541		$	6,909,020		$	28,844,335		$	53,665,385		$	—		$	125,281,782
Non performing			—			72,901			—			—			—			—			—			72,901
Total one to four family residential		$	5,974,095		$	13,746,307		$	16,215,541		$	6,909,020		$	28,844,335		$	53,665,385		$	—		$	125,354,683
Current year-to-date gross write-offs			—			—			—			—			—			—			—			—
Home equity
Performing		$	328,439		$	286,402		$	647,673		$	238,263		$	268,838		$	100,293		$	—		$	1,869,908
Non performing			—			—			—			—			—			—			—			—
Total home equity		$	328,439		$	286,402		$	647,673		$	238,263		$	268,838		$	100,293		$	—		$	1,869,908
Current year-to-date gross write-offs			—			—			—			—			—			—			—			—
Equity line of credit
Performing		$	—		$	—		$	—		$	—		$	—		$	—		$	8,177,998		$	8,177,998
Non performing			—			—			—			—			—			—			—			—
Total equity line of credit		$	—		$	—		$	—		$	—		$	—		$	—		$	8,177,998		$	8,177,998
Current year-to-date gross write-offs			—			—			—			—			—			—			—			—
Construction
Performing		$	2,661,426		$	8,467,051		$	1,354,944		$	115,672		$	60,610		$	126,972		$	—		$	12,786,675
Non performing			—			—			—			—			—			—			—			—
Total construction		$	2,661,426		$	8,467,051		$	1,354,944		$	115,672		$	60,610		$	126,972		$	—		$	12,786,675
Current year-to-date gross write-offs			—			—			—			—			—			—			—			—
Multi-family
Pass		$	907,647		$	—		$	—		$	—		$	—		$	294,042		$	—		$	1,201,689
Special mention			—			—			—			—			—			—			—			—
Substandard			—			—			—			—			—			—			—			—
Doubtful			—			—			—			—			—			—			—			—
Total multi-family		$	907,647		$	—			—		$	—			—		$	294,042		$	—		$	1,201,689
Current year-to-date gross write-offs			—			—			—			—			—			—			—			—
Commercial
Pass		$	—		$	58,388		$	470,056		$	139,018		$	959,688		$	258,906		$	—		$	1,886,056
Special mention			—			—			—			—			—			—			—			—
Substandard			—			—			—			—			—			—			—			—
Doubtful			—			—			—			—			—			—			—			—
Total commercial		$	—		$	58,388		$	470,056		$	139,018		$	959,688		$	258,906		$	—		$	1,886,056
Current year-to-date gross write-offs			—			—			—			—			—			—			—			—
Commercial installment
Pass		$	1,122,851		$	811,099		$	110,938		$	155,968		$	194,544		$	1,299,507		$	—		$	3,694,907
Special mention			—			—			—			—			—			—			—			—
Substandard			—			—			—			—			—			—			—			—
Doubtful			—			—			—			—			—			—			—			—
Total commercial installment		$	1,122,851		$	811,099		$	110,938		$	155,968		$	194,544		$	1,299,507		$	—		$	3,694,907
Current year-to-date gross write-offs			—			—			—			—			—			—			—			—
Consumer
Marine and recreational
Performing		$	3,482,962		$	5,293,500		$	4,817,316		$	5,256,810		$	1,846,844		$	8,898,569		$	—		$	29,596,001
Non performing			—			—			—			24,165			—			44,064			—			68,229
Total marine and recreational		$	3,482,962		$	5,293,500		$	4,817,316		$	5,280,975		$	1,846,844		$	8,942,633		$	—		$	29,664,230
Current year-to-date gross write-offs			—			—			—			—			27,840			25,877			—			53,717
Other consumer
Performing		$	232,082		$	558,587		$	504,037		$	327,600			299,317		$	658,519		$	—		$	2,580,142
Non performing			—			—			—			—			—			—			—			—
Total other consumer		$	232,082		$	558,587		$	504,037		$	327,600		$	299,317		$	658,519		$	—		$	2,580,142
Current year-to-date gross write-offs			—			—			—			—			—			—			—			—
Total loans		$	14,709,502		$	29,221,334		$	24,120,505		$	13,166,516		$	32,474,176		$	65,346,257		$	8,177,998		$	187,216,288
Total current year-to-date gross write-offs			—			—			—			—			27,840			25,877			—			53,717


		Total Loans by Origination Year
		2025			2024			2023			2022			2021			Prior			Revolving			Total
At December 31, 2025
Real estate
One to four family residential
Performing		$	13,673,316		$	19,779,834		$	7,998,043		$	30,001,104		$	10,818,144		$	47,107,895		$	—		$	129,378,336
Non performing			—			—			—			—			—			294,557			—			294,557
Total one to four family residential		$	13,673,316		$	19,779,834		$	7,998,043		$	30,001,104		$	10,818,144		$	47,402,452		$	—		$	129,672,893
Current year-to-date gross write-offs			—			—			—			—			—			686			—			686
Home equity
Performing		$	301,733		$	807,240		$	465,994		$	286,981		$	15,261		$	97,992		$	—		$	1,975,201
Non performing			—			—			—			—			—			—			—			—
Total home equity		$	301,733		$	807,240		$	465,994		$	286,981		$	15,261		$	97,992		$	—		$	1,975,201
Current year-to-date gross write-offs			—			—			—			—			—			—			—			—
Equity line of credit
Performing		$	—		$	—		$	—		$	—		$	—		$	—		$	6,930,038		$	6,930,038
Non performing			—			—			—			—			—			—			—			—
Total equity line of credit		$	—		$	—		$	—		$	—		$	—		$	—		$	6,930,038		$	6,930,038
Current year-to-date gross write-offs			—			—			—			—			—			—			—			—
Construction
Performing		$	9,384,639		$	2,475,561		$	119,018		$	62,686		$	—		$	133,176		$	—		$	12,175,080
Non performing			—			—			—			—			—			—			—			—
Total construction		$	9,384,639		$	2,475,561		$	119,018		$	62,686		$	—		$	133,176		$	—		$	12,175,080
Current year-to-date gross write-offs			—			—			—			—			—			—			—			—
Multi-family
Pass		$	—		$	—		$	—		$	—		$	201,072		$	866,900		$	—		$	1,067,972
Special mention			—			—			—			—			—			—			—			—
Substandard			—			—			—			—			—			—			—			—
Doubtful			—			—			—			—			—			—			—			—
Total multi-family		$	—		$	—		$	—		$	—		$	201,072		$	866,900		$	—		$	1,067,972
Current year-to-date gross write-offs			—			—			—			—			—			—			—			—
Commercial
Pass		$	59,001		$	476,965		$	143,525		$	978,898		$	224,550		$	54,026		$	—		$	1,936,965
Special mention			—			—			—			—			—			—			—			—
Substandard			—			—			—			—			—			—			—			—
Doubtful			—			—			—			—			—			—			—			—
Total commercial		$	59,001		$	476,965		$	143,525		$	978,898		$	224,550		$	54,026		$	—		$	1,936,965
Current year-to-date gross write-offs			—			—			—			—			—			—			—			—
Commercial installment
Pass		$	1,284,063		$	120,517		$	164,205		$	220,173		$	757,869		$	958,418		$	—		$	3,505,245
Special mention			—			—			—			—			—			—			—			—
Substandard			—			—			—			—			—			—			—			—
Doubtful			—			—			—			—			—			—			—			—
Total commercial installment		$	1,284,063		$	120,517		$	164,205		$	220,173		$	757,869		$	958,418		$	—		$	3,505,245
Current year-to-date gross write-offs			—			—			—			—			—			—			—			—
Consumer
Marine and recreational
Performing		$	6,169,142		$	5,362,958		$	6,046,790		$	2,122,067		$	393,319		$	10,148,651		$	—		$	30,242,927
Non performing			—			—			—			—			—			—			—			—
Total marine and recreational		$	6,169,142		$	5,362,958		$	6,046,790		$	2,122,067		$	393,319		$	10,148,651		$	—		$	30,242,927
Current year-to-date gross write-offs			—			—			—			—			72,030			7,841			—			79,871
Other consumer
Performing		$	782,570		$	708,503		$	484,533		$	422,512			103,832		$	698,170		$	—		$	3,200,120
Non performing			—			—			—			—			—			7,281			—			7,281
Total other consumer		$	782,570		$	708,503		$	484,533		$	422,512		$	103,832		$	705,451		$	—		$	3,207,401
Current year-to-date gross write-offs			—			—			—			—			—			—			—			—
Total loans		$	31,654,464		$	29,731,578		$	15,422,108		$	34,094,421		$	12,514,047		$	60,367,066		$	6,930,038		$	190,713,722
Total current year-to-date gross write-offs			—			—			—			—			72,030			8,527			—			80,557

Schedule of loan aging information


		Accruing
					Loans Past			Loans			Nonaccrual			Nonaccrual			Nonaccrual
		Current			Due 31-89			Past Due			loans beginning			loans end			end of period
		Loans			Days			90+ Days			of period			of period			with an ACL			Total Loans
June 30, 2026

Real estate:
One to four family residential		$	125,026,749		$	255,033		$	—		$	294,557		$	72,901		$	—		$	125,354,683
Home equity			1,869,908			—			—			—			—			—			1,869,908
Equity line of credit			8,177,998			—			—			—			—			—			8,177,998
Construction			12,786,675			—			—			—			—			—			12,786,675
Multi-family			1,201,689			—			—			—			—			—			1,201,689
Commercial			1,886,056			—			—			—			—			—			1,886,056
Commercial installment			3,694,907			—			—			—			—			—			3,694,907
Consumer
Marine and recreational			29,390,484			229,682			—			—			44,064			—			29,664,230
Other consumer			2,503,074			77,068			—			7,281			—			—			2,580,142

Totals		$	186,537,540		$	561,783		$	—		$	301,838		$	116,965		$	—		$	187,216,288


		Accruing
					Loans Past			Loans			Nonaccrual			Nonaccrual			Nonaccrual
		Current			Due 31-89			Past Due			loans beginning			loans end			end of period
		Loans			Days			90+ Days			of period			of period			with an ACL			Total Loans
December 31, 2025

Real estate:
One to four family residential		$	128,279,630		$	1,098,706		$	—		$	—		$	294,557		$	—		$	129,672,893
Home equity			1,975,201			—			—			—			—			—			1,975,201
Equity line of credit			6,930,038			—			—			—			—			—			6,930,038
Construction			12,175,080			—			—			—			—			—			12,175,080
Multi-family			1,067,972			—			—			—			—			—			1,067,972
Commercial			1,936,965			—			—			—			—			—			1,936,965
Commercial installment			3,505,245			—			—			—			—			—			3,505,245
Consumer																					—
Marine and recreational			30,014,090			228,837			—			—			—			—			30,242,927
Other consumer			3,200,120			—			—			12,704			7,281			—			3,207,401

Totals		$	189,084,341		$	1,327,543		$	—		$	12,704		$	301,838		$	—		$	190,713,722

Schedule of loans to directors, executive officers, and their affiliates


		June 30, 2026			December 31, 2025
Balance at beginning of period		$	16,031		$	44,715
New loans			3,021			—
Repayments			(5,604)			(28,684)

Balance at end of period		$	13,448		$	16,031