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LONG-TERM DEBT (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

The following table presents components of the Company’s long-term debt at December 31, 2023, and 2022.

 

			Amount												Weighted Average rate
			2023						2022						2023						2022
FHLB fixed rate advances maturing:
2025			$	15,000					$	—					4.57		%				—		%
2028			25,000						—						3.98		%				—		%
			40,000						—						4.20		%				—		%
Total FHLB amortizing advance requiring monthly principal and interest payments, maturing:
2025			—						1,455						—		%				4.74		%
Total FHLB Advances			$	40,000					$	1,455					4.20		%				4.74		%

Summary of Future Principal Payments Required

The following table summarizes the future annual principal payments required on these borrowings at December 31, 2023.

2025			15,000
2028			25,000
			$	40,000

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- References

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- Definition

Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

+ References

No definition available.

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- Definition

Tabular disclosure of maturity and sinking fund requirement for long-term debt.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 470
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481544/470-10-50-1

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