| Summary of Amortized Cost and Estimated Fair Values Available for Sale |
The amortized cost and fair values, together with gross unrealized gains and losses of securities, are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortized Cost |
|
|
Gross
Unrealized
Gains |
|
|
Gross
Unrealized
Losses |
|
|
Fair Value |
|
Available-for-sale Securities: |
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2026 |
|
|
|
|
|
|
|
|
|
|
|
|
Municipal bonds, taxable |
|
$ |
7,389,218 |
|
|
$ |
— |
|
|
$ |
(748,667 |
) |
|
$ |
6,640,551 |
|
Municipal bonds, non-taxable |
|
|
1,498,021 |
|
|
|
— |
|
|
|
(71,276 |
) |
|
|
1,426,745 |
|
U.S. Government agencies |
|
|
1,097,650 |
|
|
|
— |
|
|
|
(113,840 |
) |
|
|
983,810 |
|
Corporate bonds |
|
|
1,750,000 |
|
|
|
— |
|
|
|
(7,298 |
) |
|
|
1,742,702 |
|
Residential mortgage-backed securities |
|
|
25,546,921 |
|
|
|
23,774 |
|
|
|
(2,018,368 |
) |
|
|
23,552,327 |
|
Collateralized mortgage obligations |
|
|
42,752,429 |
|
|
|
4,812 |
|
|
|
(1,526,415 |
) |
|
|
41,230,826 |
|
|
|
$ |
80,034,239 |
|
|
$ |
28,586 |
|
|
$ |
(4,485,864 |
) |
|
$ |
75,576,961 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortized Cost |
|
|
Gross
Unrealized
Gains |
|
|
Gross
Unrealized
Losses |
|
|
Fair Value |
|
Available-for-sale Securities: |
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
|
|
|
|
|
|
|
|
|
|
|
Municipal bonds, taxable |
|
$ |
7,399,943 |
|
|
$ |
— |
|
|
$ |
(719,587 |
) |
|
$ |
6,680,356 |
|
Municipal bonds, non-taxable |
|
|
1,512,725 |
|
|
|
— |
|
|
|
(71,981 |
) |
|
|
1,440,744 |
|
U.S. Government agencies |
|
|
1,120,039 |
|
|
|
— |
|
|
|
(110,988 |
) |
|
|
1,009,051 |
|
Residential mortgage-backed securities |
|
|
26,839,252 |
|
|
|
22,560 |
|
|
|
(1,923,132 |
) |
|
|
24,938,680 |
|
Collateralized mortgage obligations |
|
|
44,088,148 |
|
|
|
755 |
|
|
|
(1,457,830 |
) |
|
|
42,631,073 |
|
|
|
$ |
80,960,107 |
|
|
$ |
23,315 |
|
|
$ |
(4,283,518 |
) |
|
$ |
76,699,904 |
|
|
| Summary of Maturity |
The amortized cost and fair value of securities at June 30, 2026, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties:
|
|
|
|
|
|
|
|
|
|
|
Amortized |
|
|
Fair |
|
|
|
Cost |
|
|
Value |
|
June 30, 2026 |
|
|
|
|
|
|
Available-for-sale |
|
|
|
|
|
|
Within one year |
|
$ |
— |
|
|
$ |
— |
|
One to five years |
|
|
7,067,250 |
|
|
|
6,549,971 |
|
Five to ten years |
|
|
4,667,639 |
|
|
|
4,243,837 |
|
After ten years |
|
|
— |
|
|
|
— |
|
|
|
|
11,734,889 |
|
|
|
10,793,808 |
|
Mortgage-backed securities |
|
|
68,299,350 |
|
|
|
64,783,153 |
|
Totals |
|
$ |
80,034,239 |
|
|
$ |
75,576,961 |
|
|
| Summary of Investments with Unrealized Losses |
The following tables show the Company’s investments’ gross unrealized losses and fair value of the Company’s investments with unrealized losses, aggregated by investment class and length of time that individual securities have been in a continuous unrealized loss position at June 30, 2026 and December 31, 2025:
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2026 |
|
|
|
Less than 12 Months |
|
|
12 Months or More |
|
|
Total |
|
Description of Securities |
|
Fair
Value |
|
|
Unrealized
Losses |
|
|
Fair
Value |
|
|
Unrealized
Losses |
|
|
Fair
Value |
|
|
Unrealized
Losses |
|
Available-for-sale Securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Municipal bonds, taxable |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
6,640,551 |
|
|
$ |
(748,667 |
) |
|
$ |
6,640,551 |
|
|
$ |
(748,667 |
) |
Municipal bonds, non-taxable |
|
|
— |
|
|
|
— |
|
|
|
1,426,745 |
|
|
|
(71,276 |
) |
|
|
1,426,745 |
|
|
|
(71,276 |
) |
U.S. Government agencies |
|
|
— |
|
|
|
— |
|
|
|
983,810 |
|
|
|
(113,840 |
) |
|
|
983,810 |
|
|
|
(113,840 |
) |
Corporate bonds |
|
|
1,742,702 |
|
|
|
(7,298 |
) |
|
|
— |
|
|
|
— |
|
|
|
1,742,702 |
|
|
|
(7,298 |
) |
Residential mortgage-backed securities |
|
|
10,248,393 |
|
|
|
(281,521 |
) |
|
|
10,183,888 |
|
|
|
(1,736,847 |
) |
|
|
20,432,281 |
|
|
|
(2,018,368 |
) |
Collateralized mortgage obligations |
|
|
23,572,032 |
|
|
|
(276,971 |
) |
|
|
11,939,046 |
|
|
|
(1,249,444 |
) |
|
|
35,511,078 |
|
|
|
(1,526,415 |
) |
|
|
$ |
35,563,127 |
|
|
$ |
(565,790 |
) |
|
$ |
31,174,040 |
|
|
$ |
(3,920,074 |
) |
|
$ |
66,737,167 |
|
|
$ |
(4,485,864 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
|
|
Less than 12 Months |
|
|
12 Months or More |
|
|
Total |
|
Description of Securities |
|
Fair
Value |
|
|
Unrealized
Losses |
|
|
Fair
Value |
|
|
Unrealized
Losses |
|
|
Fair
Value |
|
|
Unrealized
Losses |
|
Available-for-sale Securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Municipal bonds, taxable |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
6,680,356 |
|
|
$ |
(719,587 |
) |
|
$ |
6,680,356 |
|
|
$ |
(719,587 |
) |
Municipal bonds, non-taxable |
|
|
— |
|
|
|
— |
|
|
|
1,440,744 |
|
|
|
(71,981 |
) |
|
|
1,440,744 |
|
|
|
(71,981 |
) |
U.S. Government agencies |
|
|
— |
|
|
|
— |
|
|
|
1,009,051 |
|
|
|
(110,988 |
) |
|
|
1,009,051 |
|
|
|
(110,988 |
) |
Residential mortgage-backed securities |
|
|
10,795,977 |
|
|
|
(188,068 |
) |
|
|
10,971,115 |
|
|
|
(1,735,064 |
) |
|
|
21,767,092 |
|
|
|
(1,923,132 |
) |
Collateralized mortgage obligations |
|
|
27,675,202 |
|
|
|
(185,699 |
) |
|
|
12,477,160 |
|
|
|
(1,272,131 |
) |
|
|
40,152,362 |
|
|
|
(1,457,830 |
) |
|
|
$ |
38,471,179 |
|
|
$ |
(373,767 |
) |
|
$ |
32,578,426 |
|
|
$ |
(3,909,751 |
) |
|
$ |
71,049,605 |
|
|
$ |
(4,283,518 |
) |
|