v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows (used in) from operating activities:    
Net Income (Loss) $ (1,410,551) $ 125,786
Adjustments to reconcile net income to net cash (used in) from operating activities:    
Net amortization of investment securities (18,778) 25,151
Provision for (recovery of) credit losses (4,357) (104,378)
Depreciation 159,463 170,399
Net change in cash value of life insurance (44,195) (9,890)
ESOP expense 11,201 0
(Benefit from) provision for deferred income tax (533,822) 25,577
Changes in operating assets and liabilities:    
Accrued interest receivable (51,550) (23,284)
Other assets 1,888,292 (62,761)
Accrued interest payable 109 (10,649)
Other liabilities 355,183 51,334
Net cash (used in) from operating activities 350,995 187,285
Cash flows (used in) from investing activities:    
Proceeds from calls, paydowns, and maturities of investment securities held to maturity 99,348 156,293
Proceeds from calls, paydowns, and maturities of investment securities available for sale 319,681 302,596
Net change in other investments (11,331) 14,574
Net (increase) decrease in loans (2,435,392) 1,299,793
Purchases of premises and equipment (22,211) (29,075)
Net cash (used in) from investing activities (2,049,905) 1,744,181
Cash flows (used in) from financing activities:    
Net increase (decrease) in deposits 2,021,045 752,877
Net increase in advance payments by borrowers for taxes and insurance 89,076 81,102
Gross proceeds from issuance of common stock 17,192,500  
Stock offering costs, net (3,640,933)  
Purchase of ESOP shares (1,375,400)  
Net cash (used in) from financing activities 14,286,288 833,979
Net change in cash and cash equivalents 12,587,378 2,765,445
Cash and cash equivalents at beginning of period 9,194,860 6,433,487
Cash and cash equivalents at end of period 21,782,238 9,198,932
Supplemental cash flow information:    
Interest 1,058,939 877,731
Income taxes 6,343 4,000
Noncash investing and financing activities:    
Change in unrealized (loss) gain on investment securities available for sale $ (18,117) $ 202,396