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Consolidated Statements Of Financial Condition - USD ($)
Jun. 30, 2022
Dec. 31, 2021
Assets    
Cash and due from banks $ 6,781,706 $ 14,446,792
Interest-bearing deposits in other banks 822,524 90,621,993
Cash and cash equivalents 7,604,230 105,068,785
Securities available for sale 97,507,693 41,838,798
Securities held to maturity (fair value of $79,858,396 and $74,081,059, respectively) 86,432,340 74,053,099
Loans held for sale 360,000 1,152,500
Loans, net of allowance of $2,253,174 and $2,153,174, respectively 630,810,380 570,209,669
Premises and equipment, net 8,006,717 8,127,979
Federal Home Loan Bank (FHLB) stock and other restricted securities 6,076,700 4,851,300
Accrued interest receivable 3,007,407 2,712,605
Core deposit intangibles 300,827 336,364
Bank-owned life insurance 29,836,866 24,524,122
Other assets 5,001,976 4,486,366
Total Assets 874,945,136 837,361,587
Liabilities and Equity    
Non-interest bearing deposits 39,442,245 39,317,500
Interest bearing deposits 571,847,021 558,162,278
Total Deposits 611,289,266 597,479,778
FHLB advances 115,278,743 85,051,736
Advance payments by borrowers for taxes and insurance 3,431,613 2,856,120
Other liabilities 4,484,720 4,397,742
Total liabilities 734,484,342 689,785,376
Stockholders’ Equity    
Preferred stock $0.01 par value 1,000,000 shares authorized, none issued and outstanding at June 30, 2022 and December 31, 2021
Common stock $0.01 par value, 30,000,000 shares authorized, 14,207,860 issued and outstanding at June 30, 2022 and 14,605,809 at December 31, 2021 142,078 146,057
Additional paid-in capital 64,401,403 68,247,204
Retained earnings 87,922,716 84,879,812
Unearned ESOP shares (449,977 shares at June 30, 2022 and 463,239 shares at December 31, 2021) (5,273,604) (5,424,206)
Accumulated other comprehensive loss (6,731,799) (272,656)
Total stockholders’ equity 140,460,794 147,576,211
Total liabilities and stockholders’ equity $ 874,945,136 $ 837,361,587