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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Impact of Adoption of ASC 326 (CECL)

The following table illustrates the impact of ASC 326:

Impact of Adoption of ASC 326 (CECL)

(Dollars in thousands)		As reported under ASC 326				Pre-ASC 326 adoption				Impact of ASC 326 adoption
		January 1, 2023
(Dollars in thousands)		As reported under ASC 326				Pre-ASC 326 adoption				Impact of ASC 326 adoption
Allowance for credit losses:
Held-to-maturity investment securities		$	72			$	-			$	72
One-to-four family residential real estate loans		$	1,677			$	655			$	1,022
Construction and land loans			166				117				49
Commercial real estate loans			4,221				3,158				1,063
Commercial loans			2,898				2,753				145
Paycheck protection program loans			-				-				-
Agriculture loans			1,142				1,966				(824	)
Municipal loans			16				5				11
Consumer loans			194				137				57
Total allowance for credit losses for loans		$	10,314			$	8,791			$	1,523
Unfunded loan commitments		$	170			$	170			$	-

Schedule of Earnings Per Share, Basic and Diluted

The shares used in the calculation of basic and diluted earnings per share, which have been adjusted to give effect to the 5% common stock dividends paid by the Company in December 2023, 2022 and 2021, are shown below:

Schedule of Earnings Per Share, Basic and Diluted

		2023				2022				2021
(Dollars in thousands, except per share amounts)		Years ended December 31,
		2023				2022				2021
Net earnings available to common shareholders		$	12,236			$	9,878			$	18,011
Weighted average common shares outstanding - basic			5,477,700				5,492,286				5,506,487
Assumed exercise of stock options			3,100				15,767				13,303
Weighted average common shares outstanding - diluted			5,480,800				5,508,053				5,519,790
Earnings per share:
Basic		$	2.23			$	1.80			$	3.27
Diluted		$	2.23			$	1.79			$	3.26

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Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

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Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

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