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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2021
Jun. 30, 2020
ASSETS    
Cash and due from banks $ 5,577,965 $ 2,763,126
Federal funds sold 43,799,524 10,342,915
Cash and cash equivalents 49,377,489 13,106,041
Interest bearing deposits in banks 326,245 2,713,164
Available for sale securities - stated at fair value 32,868,700 20,297,595
Loans, less allowance for loan losses of $1,412,489 and $1,353,427 at June 30, 2021 and June 30, 2020, respectively 215,419,951 237,300,478
Loans held for sale 6,866,900 18,690,027
Other real estate owned, net 167,590 2,288,255
Premises and equipment, net 7,912,493 7,960,041
Federal Home Loan Bank stock 1,031,200 1,345,500
Accrued interest receivable and other assets 1,731,234 1,773,486
TOTAL ASSETS 315,701,802 305,474,587
Deposits    
Demand 108,991,043 93,627,648
Savings and NOW 88,156,887 75,397,948
Certificates of deposit 72,738,385 87,045,935
Total Deposits 269,886,315 256,071,531
Federal Home Loan Bank borrowings 5,000,000 9,000,000
Advance payments by borrowers for property taxes and insurance 3,434,519 2,882,067
Accrued interest payable and other liabilities 4,257,101 14,008,786
Total Liabilities 282,577,935 281,962,384
STOCKHOLDERS’ EQUITY    
Preferred stock ($0.01 par value, 5,000,000 authorized, no shares issued or outstanding as of June 30, 2021 and June 30, 2020, respectively)
Common stock ($0.01 par value, 20,000,000 authorized, 2,624,343 issued and outstanding as of June 30, 2021 and June 30, 2020) 26,243 26,243
Additional paid in capital 11,319,328 11,319,328
Retained earnings 23,388,455 17,002,468
Accumulated other comprehensive loss (1,610,159) (4,835,836)
Total Stockholders’ Equity 33,123,867 23,512,203
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 315,701,802 $ 305,474,587