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Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Assets at Fair Value

The following table shows the fair value and notional amounts of derivative instruments.

				December 31, 2023												December 31, 2022
		Balance Sheet Location		Notional Amount				Asset Fair Value				Liability Fair Value				Notional Amount				Asset Fair Value				Liability Fair Value
Derivatives not designated as hedging instruments:
Loan commitments		Other assets and Other liabilities		$	161,832,250			$	4,995,486			$	3,412,224			$	453,371,808			$	4,089,856			$	1,382,979
Call options		Other liabilities			-				—				-				868,600				—				29,715
Put options		Other liabilities			-				—				-				654,500				—				13,888
Total				$	161,832,250			$	4,995,486			$	3,412,224			$	454,894,908			$	4,089,856			$	1,426,582

Schedule of Gains and Losses on Derivatives

The following table presents the gains (losses) on derivatives. There were no gains or losses reclassified from accumulated other comprehensive income into income or gains or losses recognized in income on derivatives ineffective portion or any amounts excluded from effective testing.

				Years ended December 31,
Derivative		Classification		2023				2022
Loan commitments		Mortgage fee income		$	(1,123,615	)		$	(4,308,638	)

Call and put options		Gains on investments and other assets		$	49,963			$	202,886