Debt Securities (Tables)

12 Months Ended

Dec. 31, 2024

Debt Securities

Schedule of amortized cost and fair value of securities available for sale

			Gross		Gross
	Amortized		Unrealized		Unrealized		Estimated
	Cost		Gains		(Losses)		Fair Value
December 31, 2024
Securities available for sale:
Mortgage-backed securities	$	9,078,650	$	—	$	(1,254,841)	$	7,823,809
State and political subdivisions		14,191,881		—		(2,052,935)		12,138,946
Corporate securities		3,466,328		—		(622,247)		2,844,081
Total securities available for sale	$	26,736,859	$	—	$	(3,930,023)	$	22,806,836

			Gross		Gross
	Amortized		Unrealized		Unrealized		Estimated
	Cost		Gains		(Losses)		Fair Value
December 31, 2023
Securities available for sale:
Mortgage-backed securities	$	10,164,358	$	—	$	(1,123,653)	$	9,040,705
State and political subdivisions		14,255,188		—		(2,172,143)		12,083,045
Corporate securities		3,461,451		—		(637,426)		2,824,025
Total securities available for sale	$	27,880,997	$	—	$	(3,933,222)	$	23,947,775

			Gross		Gross
	Amortized		Unrealized		Unrealized		Estimated
December 31, 2024	Cost		Gains		Losses		Fair Value
Securities held to maturity:
U.S. government sponsored agencies	$	28,306,633	$	282	$	(812,896)	$	27,494,019
U.S. Treasury securities		10,699,998		—		(31,391)		10,668,607
Total securities held to maturity	$	39,006,631	$	282	$	(844,287)	$	38,162,626

			Gross		Gross
	Amortized		Unrealized		Unrealized		Estimated
December 31, 2023	Cost		Gains		Losses		Fair Value
Securities held to maturity:
U.S. government sponsored agencies	$	28,223,324	$	12,819	$	(245,870)	$	27,990,273
U.S. Treasury securities		11,827,534		3,234		(16,213)		11,814,555
Total securities held to maturity	$	40,050,858	$	16,053	$	(262,083)	$	39,804,828

Schedule of fair value and gross unrealized losses of available for sale debt securities in an unrealized loss position

	Less Than 12 Months				12 Months or More				Total
		Estimated		Unrealized	Estimated		Unrealized		Estimated		Unrealized
		Fair Value		Loss	Fair Value		Loss		Fair Value		Loss
December 31, 2024
Securities available for sale:
Mortgage-backed securities	$	—	$	—	$	7,823,809	$	(1,254,841)	$	7,823,809	$	(1,254,841)
State and political subdivisions		—		—		12,138,946		(2,052,935)		12,138,946		(2,052,935)
Corporate securities		—		—		2,844,081		(622,247)		2,844,081		(622,247)
Totals	$	—	$	—	$	22,806,836	$	(3,930,023)	$	22,806,836	$	(3,930,023)

	Less Than 12 Months				12 Months or More				Total
	Estimated		Unrealized		Estimated		Unrealized		Estimated		Unrealized
	Fair Value		Loss		Fair Value		Loss		Fair Value		Loss
December 31, 2023
Securities available for sale:
Mortgage-backed securities	$	—	$	—	$	9,040,705	$	(1,123,653)	$	9,040,705	$	(1,123,653)
State and political subdivisions		—		—		12,083,045		(2,172,143)		12,083,045		(2,172,143)
Corporate securities		—		—		2,824,025		(637,426)		2,824,025		(637,426)
Totals	$	—	$	—	$	23,947,775	$	(3,933,222)	$	23,947,775	$	(3,933,222)

Summary of amortized cost and estimated fair value of debt securities by contractual maturity

	December 31, 2024
			Estimated
Available-for-sale	Amortized Cost		Fair Value
Due in one year or less	$	792,966	$	785,657
Due after one year through five years		4,799,235		4,225,960
Due after five years through ten years		11,918,642		9,849,781
Due after ten years		147,366		121,629
Subtotal		17,658,209		14,983,027
Mortgage-backed securities		9,078,650		7,823,809
Total	$	26,736,859	$	22,806,836

Schedule of amortized cost and fair value of securities held to maturity

	December 31, 2024
	Amortized		Estimated
Held-to-maturity	Cost		Fair Value
Due in one year or less	$	3,645,355	$	3,643,560
Due after one year through five years		17,002,722		16,834,884
Due after five years through ten years		14,391,887		13,907,582
Due after ten years		3,966,667		3,776,600
Total	$	39,006,631	$	38,162,626