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Loans Held for Sale (Tables) | 12 Months Ended
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Dec. 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
|  | 2023 |  |  | 2022 |
|  | December 31, |
|  | 2023 |  |  | 2022 |
Aggregate fair value |  | $ | 126,549,190 |  |  | $ | 141,179,620 |
Unpaid principal balance |  |  | 127,185,867 |  |  |  | 141,337,811 |
Unrealized loss |  |  | (636,677 | ) |  |  | (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
|  | 2023 |  |  | 2022 |
|  | Years Ended December 31 |
|  | 2023 |  |  | 2022 |
Loan fees |  | $ | 21,724,456 |  |  | $ | 24,184,972 |
Interest income |  |  | 9,547,741 |  |  |  | 9,666,149 |
Secondary gains |  |  | 68,505,014 |  |  |  | 153,870,807 | (1)
Change in fair value of loan commitments |  |  | (1,123,615 | ) |  |  | (4,308,638 | )
Change in fair value of loans held for sale |  |  | (478,460 | ) |  |  | (8,834,797 | )
Provision for loan loss reserve |  |  | (27,164 | ) |  |  | (1,078,812 | )
Mortgage fee income |  | $ | 98,147,972 |  |  | $ | 173,499,681 |
(1) |  | Includes a net gain of $34,051,938 for the sale of mortgage servicing rights
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
|  | December 31, |
|  | 2023 |  |  | 2022 |
Beginning Balance |  | $ | 1,725,667 |  |  | $ | 2,447,139 |
Provision for current loan originations (1) |  |  | 27,164 |  |  |  | 1,078,812 |
Charge-offs, net of recaptured amounts |  |  | (1,205,598 | ) |  |  | (1,800,284 | )
Ending Balance |  | $ | 547,233 |  |  | $ | 1,725,667 |
(1) |  | Included in Mortgage fee income

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