Employee Stock Ownership Plan	6 Months Ended
Jun. 30, 2022
Compensation Related Costs [Abstract]
Employee Stock Ownership Plan	NOTE 7 - EMPLOYEE STOCK OWNERSHIP PLAN With the conversion to the stock holding company, 354,599 shares were sold to the Employee Stock Ownership Plan (ESOP). The ESOP borrowed from the Company to purchase the shares of the Company’s common stock at $10. The Company combined the preexisting loan with the current loan. The Company will make discretionary contributions to the ESOP, as well as paying dividends on unallocated shares to the ESOP, and the ESOP uses funds it receives to repay the loan. When loan payments are made, ESOP shares are allocated to participants based on relative compensation and expense is recorded. Dividends on allocated shares increase participant accounts. Participants receive the shares at the end of employment. A participant may require stock received to be repurchased unless the stock is traded on an established market. The ESOP compensation expense for the three months ended June 30, 2022 and 2021 was $46 and $37, respectively. The ESOP compensation expense for the six months ended June 30, 2022 and 2021 was $120 and $74, respectively. At June 30, 2022, there were 355,829 shares not yet released, having an aggregate market value of $4,024 based on close price of $11.31.

Employee Stock Ownership Plan

6 Months Ended

Jun. 30, 2022

NOTE 7 - EMPLOYEE STOCK OWNERSHIP PLAN

With the conversion to the stock holding company, 354,599 shares were sold to the Employee Stock Ownership Plan (ESOP). The ESOP borrowed from the Company to purchase the shares of the Company’s common stock at $10. The Company combined the preexisting loan with the current loan.

The Company will make discretionary contributions to the ESOP, as well as paying dividends on unallocated shares to the ESOP, and the ESOP uses funds it receives to repay the loan. When loan payments are made, ESOP shares are allocated to participants based on relative compensation and expense is recorded. Dividends on allocated shares increase participant accounts.

Participants receive the shares at the end of employment. A participant may require stock received to be repurchased unless the stock is traded on an established market.

The ESOP compensation expense for the three months ended June 30, 2022 and 2021 was $46 and $37, respectively. The ESOP compensation expense for the six months ended June 30, 2022 and 2021 was $120 and $74, respectively. At June 30, 2022, there were 355,829 shares not yet released, having an aggregate market value of $4,024 based on close price of $11.31.