Premises and Equipment (Tables)

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Summary of Premises and Equipment

Premises and equipment are stated at cost less accumulated depreciation and are summarized as follows:

	As of December 31,
	2022		2021
Land	$	863	$	863
Buildings		8,072		8,060
Leasehold improvements		1		1
Furniture and equipment		6,212		6,111
Totals		15,148		15,035
Less: Accumulated depreciation		9,697		9,171
Premises and equipment, net	$	5,451	$	5,864

Summary of Net Lease Cost

A summary of net lease cost and selected other information related to the operating lease follows:

	Year Ended
	December 31, 2022
Net Lease Cost: (1)
Operating lease cost	$	85
Variable lease cost		—
Net lease cost:		85
Selected other operating lease information:
Weighted average remaining lease terms (years)		1.2
Weighted average discount rate		1.79	%

(1) The Company adopted ASU 842 on January 1, 2022.

Summary of Maturity of Remaining Lease Liabilities

The following table summarizes the maturity of remaining lease liabilities:

For the Year Ended December 31,
2023	$	87
2024		89
2025		91
2026		94
2027		96
Thereafter		16
Total future minimum lease payments		473
Less amount representing interest		(21	)
Present value of net future minimum lease payments	$	452

Summary of Rent commitments Before Considering Renewal Options

Rent commitments before considering renewal options that generally are present, were as follows at December 31, 2021:

2022	$	85
2023		87
2024		15
Total	$	187