Condensed Parent Only Financial Information (Tables)

12 Months Ended

Dec. 31, 2024

Condensed Parent Only Financial Information

Condensed Balance Sheets

	December 31,
	2024		2023
Assets
Noninterest bearing deposit with bank subsidiary	$	356,460	$	50,000
Investment in subsidiaries		14,320,577		11,486,824
Loan - ESOP		487,752		—
Land held for sale		435,328		—
Other assets		41,490		—
TOTAL ASSETS	$	15,641,607	$	11,536,824
Liabilities and Equity
Liabilities
Other liabilities	$	14,851	$	—
Total liabilities		14,851		—
Equity:
Common stock		7,525		—
Additional paid-in capital		5,472,763		—
Retained earnings		17,499,162		19,198,973
Unallocated common shares held by Employee Stock Ownership Plan (ESOP)		(500,441)		—
Accumulated other comprehensive income (loss)		(6,852,253)		(7,662,149)
Total stockholders' equity		15,626,756		11,536,824
TOTAL LIABILITIES AND EQUITY	$	15,641,607	$	11,536,824

Condensed Statements of Operations

	Year Ended December 31,
	2024		2023
Income:
Interest income:	$	11,777	$	—
Total income		11,777		—
Expense:
Interest expense		16,486		—
Noninterest expense		54,060		—
Total expense		70,546		—
Loss before equity in undistributed net income (loss) of subsidiary		(58,769)		—
Equity in undistributed net income (loss) of subsidiary		(1,657,051)		(935,240)
Income (loss) before provision for (benefit from) income taxes		(1,715,820)		(935,240)
Provision for (benefit from) income taxes		(16,009)		—
Net income (loss)	$	(1,699,811)	$	(935,240)

Condensed Statements of Cash Flows

	Year Ended December 31,
	2024		2023
Cash flows from operating activities:
Net income (loss)	$	(1,699,811)	$	(935,240)
Adjustments to reconcile net income (loss) to net cash flows used in operating activities:
Net decrease (increase) in other assets and liabilities		67,195		—
Equity in undistributed (income) loss of subsidiary		1,657,051		935,240
Total adjustments		1,724,246		935,240
Net cash flows used in operating activities		24,435		—
Cash flows from investing activities:
Principal payments on loan to ESOP		39,028		—
Net cash flows provided by (used in) investing activities		39,028		—
Cash flows from financing activities:
Net proceeds from issuance of common shares	$	5,478,242	$	—
Loan to ESOP		(526,780)		—
Proceeds from conversion transferred to subsidiary		(4,918,928)		—
Cash transferred from prior holding company		210,463		—
Net cash flows provided by (used in) financing activities		242,997		—
Net change in cash and cash equivalents		306,460		—
Cash and cash equivalents at beginning of period		50,000		50,000
Cash and cash equivalents at end of period	$	356,460	$	50,000