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Concentration of Credit Risk | 3 Months Ended
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Mar. 31, 2024
Concentration of Credit Risk [Abstract] |
Concentration of Credit Risk | NOTE 12 – Concentration of Credit Risk The Bank has a significant concentration of deposits with two customers that accounted for approximately 12% of its deposits as of March 31, 2024. The Bank also has a significant concentration of short-term borrowings from one customer that accounted for 86% of the outstanding balance of securities sold under agreements to repurchase as of March 31, 2024. The Company expects to maintain the relationships with these customers for the foreseeable future.

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- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 275 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//275/tableOfContent + Details
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