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Fair Value of Financial Instruments (Tables)
3 Months Ended
Mar. 31, 2025
Fair Value Disclosures [Abstract]  
Summary of carrying amounts and estimated fair values by fair value hierarchy of certain financial instruments

    

Carrying

Estimated

Amount

Fair Value

    

March 31, 2025

    

(Level 1)

    

(Level 2)

    

(Level 3)

    

March 31, 2025

Financial assets:

  

  

  

  

  

HTM debt securities:

  

  

  

  

  

U.S. government sponsored agencies

$

28,514,187

$

$

28,304,257

$

$

28,304,257

U.S. Treasury securities

$

10,788,629

$

10,794,712

$

$

$

10,794,712

Loans, net

$

189,853,281

$

$

$

177,722,000

$

177,722,000

Financial liabilities:

 

  

 

  

 

  

 

  

 

  

Interest-bearing deposits

$

223,354,314

$

$

203,139,000

$

$

203,139,000

Fixed rate, fixed term FHLB advances

$

19,000,000

$

$

19,041,381

$

$

19,041,381

    

Carrying

Estimated

Amount

Fair Value

    

December 31, 2024

    

(Level 1)

    

(Level 2)

    

(Level 3)

    

December 31, 2024

Financial assets:

  

  

  

  

  

HTM debt securities:

  

  

  

  

  

U.S. government sponsored agencies

$

28,306,633

$

$

27,494,019

$

$

27,494,019

U.S. Treasury securities

$

10,699,998

$

10,668,607

$

$

$

10,668,607

Loans, net

$

186,354,436

$

$

$

177,234,000

$

177,234,000

Financial liabilities:

 

  

 

  

 

  

 

  

 

  

Interest-bearing deposits

$

222,057,692

$

$

200,557,000

$

$

200,557,000

Fixed rate, fixed term FHLB advances

$

19,500,000

$

$

19,459,137

$

$

19,459,137