XML 37 R26.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Summary of Significant Accounting Policies (Details)
1 Months Ended 3 Months Ended 6 Months Ended
Jul. 31, 2024
$ / shares
shares
Aug. 14, 2024
USD ($)
Jun. 30, 2024
USD ($)
$ / shares
Jun. 30, 2023
USD ($)
Jun. 30, 2024
USD ($)
segment
$ / shares
Jun. 30, 2023
USD ($)
Dec. 31, 2023
USD ($)
Significant Accounting Policies              
Number of reporting segments | segment         1    
Price per share | $ / shares     $ 10.00   $ 10.00    
Subscription of employee stock ownership plan as percent of sum of number of shares of common stock sold in the offering         8.00%    
Deferred conversion costs     $ 1,419,000   $ 1,419,000   $ 203,000
Bank deposit accounts in excess of FDIC limit of $250,000 per institution     28,569,000   28,569,000   8,934,000
Deposit Limit     250,000   250,000   250,000
Reserve Requirement With Federal Reserve Bank     0   0   0
Held-to-maturity securities held     0   0   0
Trading securities held     0   0   0
Allowance for credit losses for available-for-sale securities     0   0   0
Accrued interest receivable on available-for-sale securities     237,000   237,000   168,000
Accrued interest receivable related to loans     1,834,000   1,834,000   1,589,000
Bank Owned Life Insurance     10,513,000   10,513,000   10,332,000
Appreciation in cash surrender value     98,000 $ 88,000 181,000 $ 148,000  
Real Estate Owned     42,000   42,000   $ 42,000
Interest and/or penalties recognized     0 0 0 0  
Advertising and promotional expenses     $ 48,000 $ 73,000 $ 76,000 $ 142,000  
Minimum | Building and Improvements              
Significant Accounting Policies              
Estimated useful lives     15 years   15 years    
Minimum | Furniture and Fixtures              
Significant Accounting Policies              
Estimated useful lives     5 years   5 years    
Maximum | Building and Improvements              
Significant Accounting Policies              
Estimated useful lives     40 years   40 years    
Maximum | Furniture and Fixtures              
Significant Accounting Policies              
Estimated useful lives     10 years   10 years    
Subsequent event              
Significant Accounting Policies              
Price per share | $ / shares $ 10.00            
Incurred deferred conversion costs   $ 127,000          
Number of shares sold on the conversion | shares 5,459,473            
Subsequent event | The Fifth District Community Foundation              
Significant Accounting Policies              
Additional contribution (in shares) | shares 100,000            
Commercial loans              
Significant Accounting Policies              
Percentage of loan balance purchased (in percent)     100.00%   100.00%    
Percentage of loan balance remitted to seller (in percent)     97.00%   97.00%    
Number Of Days Of delinquency Considered For Replacement Of delinquent Loans With Performing Loans By Seller         90 days    
Percentage of loan balance that the seller establishes reserve deposit account (in percent)     3.00%   3.00%