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Parent-only Financial Statements (Tables) | 12 Months Ended
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Dec. 31, 2024
Parent-only Financial Statements [Abstract] |
Condensed Balance Sheets |
Condensed Balance Sheets |  |  |
|  | December 31, |
Assets |  | 2024 |  |  | 2023 |
Cash and due from banks |  | $ | 40 |  |  | $ | 40 |
Investment in bank subsidiary |  |  | 212,162 |  |  |  | 169,275 |
Dividends receivable |  |  | 2,254 |  |  |  | 1,932 |
Goodwill |  |  | 1,011 |  |  |  | 1,011 |
Total assets |  | $ | 215,467 |  |  | $ | 172,258 |
Liabilities and Shareholders’ Equity |  |  |  |  |  |  |  |
Dividends Payable |  | $ | 2,254 |  |  | $ | 1,932 |
Other liabilities |  |  | - |  |  |  | - |
Total liabilities |  |  | 2,254 |  |  |  | 1,932 |
Total shareholders’ equity |  |  | 213,213 |  |  |  | 170,326 |
Total liabilities and shareholders’ equity |  | $ | 215,467 |  |  | $ | 172,258 |
Condensed Statements of Income |
Condensed Statements of Comprehensive Income |  | For the Years Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Income |  |  |  |  |  |  |  |  |
Dividends from subsidiary bank |  | $ | 8,379 |  |  | $ | 6,790 |  |  | $ | 4,738 |
Total Income |  |  | 8,379 |  |  |  | 6,790 |  |  |  | 4,738 |
Expense |  |  |  |  |  |  |  |  |  |  |  |
Other |  |  | - |  |  |  | - |  |  |  | - |
Total expense |  |  | - |  |  |  | - |  |  |  | - |
Income and equity in undistributed net income of bank subsidiary |  |  | 8,379 |  |  |  | 6,790 |  |  |  | 4,738 |
Equity in undistributed net income of bank subsidiary |  |  | 37,319 |  |  |  | 21,485 |  |  |  | 24,900 |
Income before Taxes |  |  | 45,698 |  |  |  | 28,275 |  |  |  | 29,638 |
Income tax expense |  |  | - |  |  |  | - |  |  |  | - |
Net Income Available to Common Shareholders |  | $ | 45,698 |  |  | $ | 28,275 |  |  | $ | 29,638 |
Other Comprehensive Income |  |  |  |  |  |  |  |  |  |  |  |
Equity in other comprehensive (loss) income of subsidiary |  | $ | 1,174 |  |  | $ | 3,158 |  |  | $ | (9,447 | )
Other comprehensive gain(loss) |  | $ | 1,174 |  |  | $ | 3,158 |  |  | $ | (9,447 | )
Comprehensive Income |  | $ | 46,872 |  |  | $ | 31,433 |  |  | $ | 20,191 |
Condensed Statements of Cash Flows |
Condensed Statements of Cash Flows |  | For the Years Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Operating Activities |  |  |  |  |  |  |  |  |
Net income |  | $ | 45,698 |  |  | $ | 28,275 |  |  | $ | 29,638 |
Items not requiring (providing) cash |  |  |  |  |  |  |  |  |  |  |  |
Equity in undistributed net income |  |  | (37,319 | ) |  |  | (21,485 | ) |  |  | (24,900 | )
Changes in |  |  |  |  |  |  |  |  |  |  |  |
Other current assets and liabilities |  |  | (324 | ) |  |  | (725 | ) |  |  | (374 | )
Net cash provided by operating activities |  |  | 8,055 |  |  |  | 6,065 |  |  |  | 4,364 |
Financing Activities |  |  |  |  |  |  |  |  |  |  |  |
Common stock issued, net of offering costs |  |  | 2 |  |  |  | 1 |  |  |  | - |
Dividends paid |  |  | (8,057 | ) |  |  | (6,323 | ) |  |  | (4,364 | )
Net cash used in financing activities |  |  | (8,055 | ) |  |  | (6,322 | ) |  |  | (4,364 | )
Increase (Decrease) in Cash and Due from Banks |  |  | - |  |  |  | (257 | ) |  |  | - |
Cash and Due from Banks, Beginning of Period |  |  | 40 |  |  |  | 297 |  |  |  | 297 |
Cash and Due from Banks, End of Period |  | $ | 40 |  |  | $ | 40 |  |  | $ | 297 |
Supplemental Disclosure of Cash Flows Information |  |  |  |  |  |  |  |  |  |  |  |
Dividends declared and not paid |  | $ | 2,254 |  |  | $ | 1,932 |  |  | $ | 1,463 |

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