v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Operating Activities          
Net income     $ 808,222 $ 751,093  
Adjustments to reconcile net income to net cash from operating activities:          
Depreciation and amortization     121,541 108,410  
(Accretion) amortization of premiums and discounts     (52,561) 143,625  
Accretion of deferred loan origination fees, net     (31,917) (31,084)  
Amortization of mortgage servicing rights     29,189 26,181  
Deferred income taxes     96,684 241,302  
Provision for credit losses $ 24,140 $ 8,750 96,940 8,750 $ 41,389
Gain on sale of loans (12,549) (37,085) (33,746) (73,503)  
Proceeds from sale of loans     1,753,193 3,725,288  
Origination of loans held for sale     (1,732,442) (3,679,383)  
Increase in cash surrender value of life insurance     (36,649) (34,803)  
Release of ESOP shares     25,188    
Changes in:          
Accrued interest receivable     (105,928) 61,140  
Other assets     203,152 (374,765)  
Accrued expenses and other liabilities     (1,035,902) (500,787)  
Net cash provided by operating activities     104,964 371,464  
Investing Activities          
Proceeds from maturities of held-to-maturity securities       735,000  
Proceeds from paydowns of mortgage-backed securities     2,728,429 1,242,819  
Purchase of available-for-sale securities     (1,750,000)    
Proceeds from calls and maturities of available-for-sale securities       910,000  
Net change in loans     (18,601,714) 1,384,274  
Purchase of Federal Home Loan Bank stock     (450,000)    
Purchase of premises and equipment     (108,875) (82,918)  
Net cash (used in) provided by investing activities     (18,182,160) 4,189,175  
Financing Activities          
Net decrease in deposit accounts     (12,075,442) (3,892,684)  
Proceeds from stock subscriptions in escrow       4,599,937  
Proceeds from Federal Home Loan Bank advances     10,000,000    
Repayments of Federal Home Loan Bank advances     (10,000,000)    
Net change in advances by borrowers for taxes and insurance     53,444 50,457  
Net cash (used in) provided by financing activities     (12,021,998) 757,710  
(Decrease) Increase in Cash and Cash Equivalents     (30,099,194) 5,318,349  
Cash and Cash Equivalents, Beginning of Period     50,378,538 43,540,304 43,540,304
Cash and Cash Equivalents, End of Period $ 20,279,344 $ 48,858,653 20,279,344 48,858,653 $ 50,378,538
Supplemental Disclosure of Cash Flow Information          
Interest on deposits and borrowings     $ 1,741,792 1,139,088  
Supplemental Disclosure of Noncash Investing Activities          
Transfers from loans to real estate acquired through foreclosure       $ 4,500