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Consolidated Statements of Financial Condition (Current Period Unaudited) - USD ($)
Mar. 31, 2025
Dec. 31, 2024
Assets    
Cash and due from banks $ 8,304,517 $ 18,020,527
Interest-bearing deposits in other banks 17,305,310 34,211,681
Cash and cash equivalents 25,609,827 52,232,208
Securities available for sale, at fair value 137,732,521 140,307,447
Loans, net of allowance for credit losses of $2,590,950 and $2,620,949, respectively 701,484,425 711,716,236
Premises and equipment, net 4,662,435 4,727,302
Federal Home Loan Bank (FHLB) stock and other restricted securities 7,343,700 8,803,000
Accrued interest receivable 4,151,280 4,232,563
Core deposit intangibles 140,827 152,893
Bank-owned life insurance 31,112,915 31,859,604
Right of use asset 10,624,725 10,776,596
Other assets 7,329,182 6,682,035
Total Assets 930,191,837 971,489,884
Liabilities and Equity    
Non-interest bearing deposits 32,983,669 32,681,963
Interest bearing deposits 600,051,531 609,506,079
Total deposits 633,035,200 642,188,042
FHLB advances-short term 24,500,000 29,500,000
FHLB advances-long term 115,273,377 142,673,182
Advance payments by borrowers for taxes and insurance 2,707,508 2,809,205
Lease liabilities 10,667,946 10,780,363
Other liabilities 5,754,000 6,249,932
Total liabilities 791,938,031 834,200,724
Stockholders’ Equity    
Preferred stock $0.01 par value 1,000,000 shares authorized, none issued and outstanding at March 31, 2025 and December 31, 2024 0 0
Common stock $0.01 par value, 30,000,000 shares authorized, 13,008,964 issued and outstanding at March 31, 2025 and 13,059,175 at December 31, 2024 130,089 130,592
Additional paid-in capital 55,068,598 55,269,962
Retained earnings 90,737,595 90,006,648
Unearned ESOP shares (376,338 shares at March 31, 2025 and 382,933 shares at December 31, 2024) (4,445,293) (4,520,594)
Accumulated other comprehensive loss (3,237,183) (3,597,448)
Total stockholders’ equity 138,253,806 137,289,160
Total liabilities and stockholders’ equity $ 930,191,837 $ 971,489,884