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Loans Held for Sale (Tables) | 3 Months Ended
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Mar. 31, 2023
Loans Held For Sale |
Schedule of Aggregate Fair Value Loans Held for Sale | The following table presents the aggregate fair value and the aggregate unpaid principal balance of loans held for sale: Schedule of Aggregate Fair Value Loans Held for Sale
|  | As of March 31 2023 |  |  | As of December 31 2022 |
Aggregate fair value |  | $ | 173,015,404 |  |  | $ | 141,179,620 |
Unpaid principal balance |  |  | 172,407,557 |  |  |  | 141,337,811 |
Unrealized gain (loss) |  |  | 607,847 |  |  |  | (158,191 | )
Schedule of Mortgage Fee Income for Loans Held for Sale | Major categories of mortgage fee income for loans held for sale are summarized as follows: Schedule of Mortgage Fee Income for Loans Held for Sale
|  | Three Months Ended March 31 |
|  | 2023 |  |  | 2022 |
Loan fees |  | $ | 4,388,414 |  |  | $ | 7,087,182 |
Interest income |  |  | 2,007,058 |  |  |  | 2,031,869 |
Secondary gains |  |  | 17,961,358 |  |  |  | 39,602,614 |
Change in fair value of loan commitments |  |  | 677,952 |  |  |  | 2,675,371 |
Change in fair value of loans held for sale |  |  | 794,614 |  |  |  | (2,746,565 | )
Provision for loan loss reserve |  |  | 159,610 |  |  |  | (306,026 | )
Mortgage fee income |  | $ | 25,989,006 |  |  | $ | 48,344,445 |
Summary of Loan Loss Reserve Included in Other Liabilities and Accrued Expenses | The loan loss reserve, which is included in other liabilities and accrued expenses, is summarized as follows: Summary of Loan Loss Reserve Included in Other Liabilities and Accrued Expenses
|  | As of March 31 2023 |  |  | As of December 31 2022 |
Balance, beginning of period |  | $ | 1,725,667 |  |  | $ | 2,447,139 |
Provision on current loan originations (1) |  |  | 239,801 |  |  |  | 1,078,812 |
Charge-offs, net of recaptured amounts |  |  | (632,783 | ) |  |  | (1,800,284 | )
Balance, end of period |  | $ | 1,332,685 |  |  | $ | 1,725,667 |
(1) | Included in mortgage fee income

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