Letters of Credit

12 Months Ended

Dec. 31, 2021

Letters of Credit [Abstract]

Letters of Credit

Note 11: Letters of Credit

The Bank has entered into an arrangement with the FHLB resulting in the FHLB issuing letters of credit on behalf of the Bank with the resulting beneficiary being certain public funds in connection with these deposits.  Outstanding letters of credit to secure these public funds at December 31, 2021 and 2020 were $600,000 and $884,000 respectively.  Loans with a collateral value of approximately $78.7 million were used to secure the letters of credit.