Commitments and Credit Risk (Tables)

12 Months Ended

Dec. 31, 2020

Commitments and Credit Risk

Schedule of commitments to fund fixed rate loans

The dollar amount of commitments to fund fixed rate loans at December 31, 2020 and 2019 follows:

	December 31,				December 31,
	2020				2019
			Interest Rate				Interest Rate
	Amount		Range		Amount		Range
Commitments to fund fixed-rate loans	$	28,451,835	2.25% - 3.25	%	$	3,917,445	3.5% - 5.125	%

Schedule of loan commitments outstanding

Loan commitments outstanding at December 31, 2020 and 2019 were composed of the following:

	December 31,		December 31,
	2020		2019
Commitments to originate loans for portfolio	$	189,200	$	761,055
Forward sale commitments		41,791,767		7,031,526
Lines of credit		19,826,038		16,840,828