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Consolidated Statements Of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities    
Net income $ 6,876,861 $ 7,520,075
Adjustments to reconcile net income to net cash provided by operating activities    
Bargain purchase gain   (1,950,970)
Amortization of intangible assets (229,718) (759,054)
Provision (credit) for loan losses 425,000 (88,000)
Depreciation of premises and equipment 485,118 416,953
(Accretion) amortization of deferred loan (fees) costs, net (147,240) 555,721
Amortization of premiums and accretion of discounts on securities, net 155,525 161,191
Deferred income tax benefit 503,307 261,277
Gain on sale of loans (86,913) (786,424)
Proceeds from sale of loans 4,640,081 25,409,776
Origination of loans held for sale (3,400,668) (24,623,352)
Increase in cash surrender value of bank owned life insurance (682,204) (544,610)
Employee stock ownership plan 280,792 258,247
Stock based compensation 932,772 310,924
Changes in    
Accrued interest receivable (1,254,046) 445,747
Net changes in other assets 1,740,149 (827,519)
Net changes in other liabilities 617,367 201,487
Net cash provided by operating activities 10,856,183 5,961,469
Cash flows from investing activities    
Purchases of securities available for sale (67,461,181) (33,988,744)
Purchases of securities held to maturity (25,120,238) (43,966,888)
Maturities, calls, and repayments of securities available for sale 14,978,881 3,975,789
Maturities, calls, and repayments of securities held to maturity 21,746,028 34,460,182
Net (increase) decrease in loans (148,982,268) 63,099,853
Purchase of bank owned life insurance (5,000,000) (8,000,000)
Net cash acquired in merger   19,393,090
Purchases of premises and equipment (241,474) (1,456,720)
Purchase of FHLB stock (8,327,700) (733,900)
Redemption of FHLB stock 7,688,100 2,364,200
Net cash (used in) provided by investing activities (210,719,852) 35,146,862
Cash flows from financing activities    
Net increase in deposits 104,037,056 13,788,152
Net increase (decrease) increase in short-term FHLB advances 53,000,000 (6,000,000)
Net increase (decrease) in advance payments from borrowers for taxes and insurance 318,541 (350,631)
Proceeds from long-term FHLB non-repo advances   8,000,000
Repayments of long-term FHLB non-repo advances (35,650,642) (31,381,338)
Repurchase of common stock (10,069,154) (481,468)
Net cash provided by (used in) financing activities 111,635,801 (16,425,285)
Net (decrease) increase in cash and cash equivalents (88,227,868) 24,683,046
Cash and cash equivalents - beginning of year 105,068,785 80,385,739
Cash and cash equivalents - end of year 16,840,917 105,068,785
Supplemental cash flow information    
Income taxes paid 2,225,000 1,705,000
Interest paid $ 6,896,809 5,920,581
Noncash Investing and Financing Items [Abstract]    
Fair value of assets acquired, net of cash and cash equivalents acquired   87,370,327
Fair value of liabilities assumed   93,312,447
Death benefit recorded as other asset   $ 1,827,968