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Branch Acquisition - Schedule of assets acquired and liabilities assumed (Details) - USD ($)
Sep. 30, 2024
Dec. 31, 2023
Assets acquired:    
Right-of-use asset $ 1,425,000 $ 1,526,000
Liabilities assumed:    
Goodwill 5,752,000 $ 4,536,000
Branch Acquisition [Member] | Amount Recorded [Member]    
Assets acquired:    
Cash and cash equivalents 251,040  
Negative deposits (classified as loans) 28,080  
Loans, net [1] 29,908,345  
Accrued interest receivable on loans 162,388  
Premises and equipment, net 223,676  
Core deposit intangible [2] 0  
Right-of-use asset 12,481,680  
Total assets acquired 43,055,209  
Liabilities assumed:    
Deposits 185,860,409  
Accrued interest payable on deposits 149,948  
Lease liability 12,481,680  
Total liabilities assumed 198,492,037  
Branch Acquisition [Member] | Fair Value Adjustment [Member]    
Assets acquired:    
Cash and cash equivalents 0  
Negative deposits (classified as loans) 0  
Loans, net [1] (1,843,429)  
Accrued interest receivable on loans 0  
Premises and equipment, net 0  
Core deposit intangible [2] 6,271,000  
Right-of-use asset [3] 493,000  
Total assets acquired 4,920,571  
Liabilities assumed:    
Deposits [4] 543,226  
Accrued interest payable on deposits 0  
Lease liability 0  
Total liabilities assumed 543,226  
Branch Acquisition [Member] | Fair Value Recorded [Member]    
Consideration:    
Cash received 149,843,537  
Assets acquired:    
Cash and cash equivalents 251,040  
Negative deposits (classified as loans) 28,080  
Loans, net [1] 28,064,916  
Accrued interest receivable on loans 162,388  
Premises and equipment, net 223,676  
Core deposit intangible [2] 6,271,000  
Right-of-use asset 12,974,680  
Total assets acquired 47,975,780  
Liabilities assumed:    
Deposits 186,403,635  
Accrued interest payable on deposits 149,948  
Lease liability 12,481,680  
Total liabilities assumed 199,035,263  
Net assets acquired and liabilities assumed (151,059,483)  
Goodwill [5] $ 1,215,946  
[1] Adjustments to loans will be recognized as an adjustment of yield over their remaining term.
[2] Recording of new intangible asset for the fair value of core deposits, to be amortized on an accelerated basis over a ten year period. The weighted average amortization period is 6.4 years.
[3] The right-of-use asset was initially measured at an amount equal to the lease liability and includes an adjustment for favorable lease terms when compared with market terms.
[4] Adjustments to deposits will be recognized as an adjustment of yield over their remaining term.
[5] Total amount of goodwill that is expected to be deductible for tax purposes.