Bogota Financial (BSBK) 10-Q 11 Aug 22 2022 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2022	Jul. 31, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Entity Registrant Name	Bogota Financial Corp.
Entity Central Index Key	0001787414
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Title of 12(b) Security	Common Stock, $0.01 par value per share
Entity Interactive Data Current	Yes
Entity Address, State or Province	NJ
Entity Incorporation, State or Country Code	MD
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		14,142,621
Trading Symbol	BSBK
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity File Number	001-39180
Entity Tax Identification Number	84-3501231
Entity Address, Address Line One	819 Teaneck Road
Entity Address, City Or Town	Teaneck
Entity Address, Postal Zip Code	07666
City Area Code	201
Local Phone Number	862-0660
Document Quarterly Report	true
Document Transition Report	false

Consolidated Statements Of Fina

Consolidated Statements Of Financial Condition - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Assets
Cash and due from banks	$ 6,781,706	$ 14,446,792
Interest-bearing deposits in other banks	822,524	90,621,993
Cash and cash equivalents	7,604,230	105,068,785
Securities available for sale	97,507,693	41,838,798
Securities held to maturity (fair value of $79,858,396 and $74,081,059, respectively)	86,432,340	74,053,099
Loans held for sale	360,000	1,152,500
Loans, net of allowance of $2,253,174 and $2,153,174, respectively	630,810,380	570,209,669
Premises and equipment, net	8,006,717	8,127,979
Federal Home Loan Bank (FHLB) stock and other restricted securities	6,076,700	4,851,300
Accrued interest receivable	3,007,407	2,712,605
Core deposit intangibles	300,827	336,364
Bank-owned life insurance	29,836,866	24,524,122
Other assets	5,001,976	4,486,366
Total Assets	874,945,136	837,361,587
Liabilities and Equity
Non-interest bearing deposits	39,442,245	39,317,500
Interest bearing deposits	571,847,021	558,162,278
Total Deposits	611,289,266	597,479,778
FHLB advances	115,278,743	85,051,736
Advance payments by borrowers for taxes and insurance	3,431,613	2,856,120
Other liabilities	4,484,720	4,397,742
Total liabilities	734,484,342	689,785,376
Stockholders’ Equity
Preferred stock $0.01 par value 1,000,000 shares authorized, none issued and outstanding at June 30, 2022 and December 31, 2021
Common stock $0.01 par value, 30,000,000 shares authorized, 14,207,860 issued and outstanding at June 30, 2022 and 14,605,809 at December 31, 2021	142,078	146,057
Additional paid-in capital	64,401,403	68,247,204
Retained earnings	87,922,716	84,879,812
Unearned ESOP shares (449,977 shares at June 30, 2022 and 463,239 shares at December 31, 2021)	(5,273,604)	(5,424,206)
Accumulated other comprehensive loss	(6,731,799)	(272,656)
Total stockholders’ equity	140,460,794	147,576,211
Total liabilities and stockholders’ equity	$ 874,945,136	$ 837,361,587

Consolidated Statements Of Fi_2

Consolidated Statements Of Financial Condition (Parenthetical) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Fair value of Securities Maturities	$ 79,858,396	$ 74,081,059
Allowance For Loan	$ 2,253,174	$ 2,153,174
Preferred stock par value	$ 0.01	$ 0.01
Preferred shares authorized	1,000,000	1,000,000
Preferred shares issued	0	0
Preferred shares outstanding	0	0
Common stock par value	$ 0.01	$ 0.01
Common shares authorized	30,000,000	30,000,000
Common shares issued	14,207,860	14,605,809
Common shares outstanding	14,207,860	14,605,809
Unearned ESOP Shares	449,977	463,239

Consolidated Statements Of Inco

Consolidated Statements Of Income (unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Interest income
Loans	$ 5,848,522	$ 5,684,881	$ 11,385,602	$ 11,149,842
Securities
Taxable	932,714	388,604	1,569,835	1,062,151
Tax-exempt	46,282	12,798	67,278	25,383
Other interest-earning assets	83,682	115,256	167,495	238,260
Total interest income	6,911,200	6,201,539	13,190,210	12,475,636
Interest expense
Deposits	849,808	1,050,546	1,675,992	2,314,228
FHLB advances	356,203	376,508	686,036	807,633
Total interest expense	1,206,011	1,427,054	2,362,028	3,121,861
Net interest income	5,705,189	4,774,485	10,828,182	9,353,775
Credit for loan losses	100,000	(54,000)	100,000	(113,000)
Net interest income after provision for loan losses	5,605,189	4,828,485	10,728,182	9,466,775
Non-interest income
Fees and service charges	50,478	68,576	89,796	121,103
Gain on sale of loans	(217)	284,065	86,913	520,102
Bargain purchase gain				1,933,397
Bank-owned life insurance	169,449	145,167	325,442	234,833
Other	34,007	35,480	95,989	42,459
Total non-interest income	253,717	533,288	598,140	2,851,894
Non-interest expense
Salaries and employee benefits	2,098,897	2,035,467	4,162,244	3,574,387
Occupancy and equipment	342,381	294,694	686,810	561,173
FDIC insurance assessment	54,000	69,300	108,000	114,300
Data processing	330,840	312,527	609,187	520,836
Advertising	91,145	60,000	212,290	120,000
Director fees	203,534	216,880	418,325	415,119
Professional fees	151,490	208,849	295,753	467,766
Merger fees		73,932		392,197
Core conversion costs				360,000
Other	321,585	305,484	642,538	483,801
Total non-interest expense	3,593,872	3,577,133	7,135,147	7,009,579
Income before income taxes	2,265,034	1,784,640	4,191,175	5,309,090
Income tax expense	623,027	345,916	1,148,271	864,059
Net income	$ 1,642,007	$ 1,438,724	$ 3,042,904	$ 4,445,031
Earnings per Share - basic	$ 0.12	$ 0.10	$ 0.22	$ 0.33
Earnings per Share - diluted	$ 0.12	$ 0.10	$ 0.22	$ 0.33
Weighted average shares outstanding- basic	13,662,222	13,945,423	13,760,002	13,528,822
Weighted average shares outstanding - diluted	13,701,674	13,945,423	13,800,168	13,528,822

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive (Loss) Income (unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 1,642,007	$ 1,438,724	$ 3,042,904	$ 4,445,031
Other comprehensive (loss) income:
Net unrealized gains/(loss) on securities available for sale	(5,762,044)	12,814	(9,100,460)	28,881
Net of tax	(4,142,333)	9,212	(6,542,321)	20,763
Tax effect	1,619,711	(3,602)	2,558,139	(8,118)
Defined benefit retirement plans:
Reclassification adjustment for amortization of prior service cost and net gain/loss included in salaries and employee benefits	57,850	43,652	115,700	87,306
Tax effect	(16,261)	(12,271)	(32,522)	(24,544)
Net of tax	41,589	31,381	83,178	62,762
Total other comprehensive (loss) income	(4,100,744)	40,593	(6,459,143)	83,525
Comprehensive (loss) income	$ (2,458,737)	$ 1,479,317	$ (3,416,239)	$ 4,528,556

Consolidated Statements Of Equi

Consolidated Statements Of Equity (unaudited) - USD ($)	Total	Bogota MHC	Common Stock	Common Stock Bogota MHC	Additional Paid-in Capital	Additional Paid-in Capital Bogota MHC	Retained Earnings	Unearned ESOP shares	Accumulates Other Comprehensive Income (Loss)
Beginning balance at Dec. 31, 2020	$ 128,468,076		$ 131,575		$ 56,975,187		$ 77,359,737	$ (5,725,410)	$ (273,013)
Beginning balance, shares at Dec. 31, 2020			13,157,525
Net income	3,006,307						3,006,307
Other comprehensive (loss) income	42,932								42,932
Issuance of common stock for initial public offering, net of expenses		$ 11,500,000		$ 12,679		$ 11,487,321
Issuance of common stock for initial public offering, net of expenses, shares				1,267,916
ESOP shares released	60,835				(14,466)			75,301
Ending balance at Mar. 31, 2021	143,078,150		$ 144,254		68,448,042		80,366,044	(5,650,109)	(230,081)
Ending balance, shares at Mar. 31, 2021			14,425,441
Beginning balance at Dec. 31, 2020	128,468,076		$ 131,575		56,975,187		77,359,737	(5,725,410)	(273,013)
Beginning balance, shares at Dec. 31, 2020			13,157,525
Net income	4,445,031
Other comprehensive (loss) income	83,525
Ending balance at Jun. 30, 2021	144,622,102		$ 144,254		68,437,376		81,804,768	(5,574,808)	(189,488)
Ending balance, shares at Jun. 30, 2021			14,425,441
Beginning balance at Mar. 31, 2021	143,078,150		$ 144,254		68,448,042		80,366,044	(5,650,109)	(230,081)
Beginning balance, shares at Mar. 31, 2021			14,425,441
Net income	1,438,724						1,438,724
Other comprehensive (loss) income	40,593								40,593
ESOP shares released	64,635				(10,666)			75,301
Ending balance at Jun. 30, 2021	144,622,102		$ 144,254		68,437,376		81,804,768	(5,574,808)	(189,488)
Ending balance, shares at Jun. 30, 2021			14,425,441
Beginning balance at Dec. 31, 2021	147,576,211		$ 146,057		68,247,204		84,879,812	(5,424,206)	(272,656)
Beginning balance, shares at Dec. 31, 2021			14,605,809
Net income	1,400,897						1,400,897
Other comprehensive (loss) income	(2,358,399)								(2,358,399)
Stock based compensation	233,193				233,193
Stock purchased and retired	(1,892,115)		$ (1,805)		(1,890,310)
Stock purchased and retired, shares			(180,501)
ESOP shares released	66,145				(9,156)			75,301
Ending balance at Mar. 31, 2022	145,025,932		$ 144,252		66,580,931		86,280,709	(5,348,905)	(2,631,055)
Ending balance, shares at Mar. 31, 2022			14,425,308
Beginning balance at Dec. 31, 2021	147,576,211		$ 146,057		68,247,204		84,879,812	(5,424,206)	(272,656)
Beginning balance, shares at Dec. 31, 2021			14,605,809
Net income	3,042,904
Other comprehensive (loss) income	(6,459,143)
Ending balance at Jun. 30, 2022	140,460,794		$ 142,078		64,401,403		87,922,716	(5,273,604)	(6,731,799)
Ending balance, shares at Jun. 30, 2022			14,207,860
Beginning balance at Mar. 31, 2022	145,025,932		$ 144,252		66,580,931		86,280,709	(5,348,905)	(2,631,055)
Beginning balance, shares at Mar. 31, 2022			14,425,308
Net income	1,642,007						1,642,007
Other comprehensive (loss) income	(4,100,744)								(4,100,744)
Stock based compensation	233,193				233,193
Stock purchased and retired	(2,410,063)		$ (2,174)		(2,407,889)
Stock purchased and retired, shares			(217,448)
ESOP shares released	70,469				(4,832)			75,301
Ending balance at Jun. 30, 2022	$ 140,460,794		$ 142,078		$ 64,401,403		$ 87,922,716	$ (5,273,604)	$ (6,731,799)
Ending balance, shares at Jun. 30, 2022			14,207,860

Consolidated Statements Of Eq_2

Consolidated Statements Of Equity (Parenthetical) (unaudited) - shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Stockholders' Equity [Abstract]
ESOP Shares released, shares	25,789	25,789

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows (unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities
Net income	$ 3,042,904	$ 4,445,031
Adjustments to reconcile net income to net cash from operating activities:
Bargain purchase gain		(1,933,397)
Amortization of intangible asset	(119,059)	(275,595)
Provision (credit) for loan losses	100,000	(113,000)
Depreciation of premises and equipment	234,798	149,401
Amortization of deferred loan(fees) costs, net	(41,279)	331,462
Amortization of premiums and accretion of discounts on securities, net	38,625	103,369
Deferred income tax expense	76,209	350,680
Gain on sale of loans	(86,913)	(520,102)
Proceeds from sale of loans	4,640,081	15,659,195
Origination of loans held for sale	(3,760,668)
Increase in cash surrender value of bank owned life insurance	(312,745)	(234,833)
Employee stock ownership plan expense	136,615	125,471
Stock based compensation	466,386
Changes in:
Accrued interest receivable	(294,802)	467,536
Net changes in other assets	1,933,798	(519,057)
Net changes in other liabilities	202,678	503,921
Net cash provided by operating activities	6,256,628	18,540,082
Cash flows from investing activities
Purchases of securities held to maturity	(23,120,238)	(27,261,578)
Purchases of securities available for sale	(67,461,181)	(2,021,000)
Maturities, calls, and repayments of securities available for sale	2,653,200	2,593,807
Maturities, calls, and repayments of securities held to maturity	10,740,997	14,151,334
Net (increase) decrease in loans	(60,612,691)	34,542,074
Purchase of Bank Owned Life Insurance	(5,000,000)	(8,000,000)
Net cash acquired in merger		19,393,090
Purchases of premises and equipment	(113,536)	(945,972)
Purchase of FHLB Stock	(2,204,600)	(169,700)
Redemption of FHLB stock	979,200	1,194,200
Net cash (used in)provided by investing activities	(144,138,849)	33,476,255
Cash flows from financing activities
Net increase (decrease) in deposits	13,876,424	(14,593,415)
Net increase (decrease) in short-term FHLB advances	43,220,000	(12,000,000)
Proceeds from long-term FHLB non-repo advances		3,000,000
Repayments of long-term FHLB non-repo advances	(12,952,073)	(8,498,055)
Repurchase of common stock	(4,302,178)
Net increase in advance payments from borrowers for taxes and insurance	575,493	360,205
Net cash provided by (used in) financing activities	40,417,666	(31,731,265)
Net (decrease) increase in cash and cash equivalents	(97,464,555)	20,285,072
Cash and cash equivalents at beginning of year	105,068,785	80,385,739
Cash and cash equivalents at March 31	7,604,230	100,670,811
Supplemental cash flow information
Income taxes paid	700,000	1,355,000
Interest paid	$ 2,322,057	3,157,098
Non-cash investment and financing activities
Fair value of assets acquired, net of cash and cash equivalents acquired		87,352,754
Fair value of liabilities assumed		$ 93,312,447

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations and Principles of Consolidation : On January 15, 2020, Bogota Financial Corp. (the “Company,” “we” or “our”) became the mid-tier stock holding company for Bogota Savings Bank (the “Bank”) in connection with the reorganization of Bogota Savings Bank into the two-tier mutual holding company structure. The Bank maintains two subsidiaries. Bogota Securities Corp. was formed for the purpose of buying, selling and holding investment securities. Bogota Properties, LLC was inactive at June 30, 2022 and December 31, 2021. The Bank generally originates residential, commercial and consumer loans to, and accepts deposits from, customers in New Jersey. The debtors’ ability to repay the loans is dependent upon the region’s economy and the borrowers’ circumstances. The Bank is also subject to the regulations of certain federal and state agencies and undergoes periodic examination by those regulatory authorities. The Company completed its stock offering in connection with the mutual holding company reorganization of the Bank on January 15, 2020. Shares of the Company’s common stock began trading on January 16, 2020 on the Nasdaq Capital Market under the trading symbol “BSBK.” Reclassifications : Some items in the prior year financial statements were reclassified to conform to the current presentation. Reclassifications had no effect on prior year net income or stockholders' equity. Earnings per Share: Basic earnings per share (“EPS”) is computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding during the period. For purposes of calculating basic EPS, weighted average common shares outstanding excludes unallocated employee stock ownership plan shares that have not been committed for release and non-vested restricted stock. Diluted EPS is computed using the same method as basic EPS and reflects the potential dilution which could occur if stock options shares were exercised and converted into common stock. The potentially diluted shares would then be included in the weighted average number of shares outstanding for the period using the treasury stock method. For the three-and-six month periods ended June 30, 2022, options to purchase 526,119 common shares with an exercise price of $ 10.45 were outstanding but were not included in the computation of diluted earnings per common share because to do so would be anti-dilutive. The Company did no t have any outstanding stock options or shares of restricted stock for the three and six-month periods ended June 30, 2021. The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per share calculations for the three and six months ended June 30, 2022 and 2021. For the three months ended June 30, 2022 For the three months ended June 30, 2021 For the six months ended June 30, 2022 For the six months ended June 30, 2021 Numerator Net income $ 1,642,007 $ 1,438,724 $ 3,042,904 $ 4,445,031 Denominator: Weighted average shares outstanding - basic 13,662,222 13,945,423 13,760,002 13,528,822 Effect of stock options 39,452 — 40,166 — Weighted average shares outstanding - diluted 13,701,674 13,945,423 13,800,168 13,528,822 Earnings per common share: Basic $ 0.12 $ 0.10 $ 0.22 $ 0.33 Diluted 0.12 0.10 0.22 0.33 NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Use of Estimates : To prepare financial statements in conformity with accounting principles generally accepted in the United States of America, management makes estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, and actual results could differ under different conditions than those assumed. Basis of Presentation : The accompanying unaudited consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and pursuant to the requirements for reporting in Article 10 of Regulation S-X of the Securities Exchange Act of 1934, as amended. The Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”) contains provisions that, among other things, reduce certain reporting requirements for qualifying public companies. As an “emerging growth company” we may delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies. We intend to take advantage of the benefits of this extended transition period. Accordingly, our financial statements may not be comparable to companies that comply with such new or revised accounting standards. These financial statements include the accounts of the Company, the Bank and its subsidiaries, and all significant intercompany balances and transactions are eliminated in consolidation. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions based on available information. In the opinion of management, all adjustments (consisting of normal recurring adjustments) and disclosures necessary for the fair presentation of the accompanying consolidated financial statements have been included. The results of operations for any interim periods are not necessarily indicative of the results which may be expected for the entire year or any other period. The unaudited financial statements and other financial information contained in this Quarterly Report on Form 10-Q should be read in conjunction with the audited financial statements, and related notes, of Bogota Financial Corp. at and for the year ended December 31, 2021 . NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Not Yet Effective Accounting Pronouncements : In January 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, March 2020, to provide temporary optional expedients and exceptions to the U.S. GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens of the expected market transition from LIBOR and other interbank offered rates to alternative reference rates, such as the Secured Overnight Financing Rate. Entities can elect not to apply certain modification accounting requirements to contracts affected by what the guidance calls “reference rate reform” if certain criteria are met. An entity that makes this election would not have to remeasure the contracts at the modification date or re assess a previous accounting determination. Also, entities can elect various optional expedients that would allow them to continue applying hedge accounting for hedging relationships affected by reference rate reform if certain criteria are met, and can make a one-time election to sell and/or reclassify held-to-maturity debt securities that reference an interest rate affected by reference rate reform. The amendments in this ASU are effective for all entities upon issuance through December 31, 2022. The Company is currently evaluating the impact the adoption of the standard will have on the Company’s financial position and results of operations. In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments, which changes the impairment model for most financial assets. This Update is intended to improve financial reporting by requiring timelier recording of credit losses on loans and other financial instruments held by financial institutions and other organizations. The underlying premise of the Update is that financial assets measured at amortized cost should be presented at the net amount expected to be collected, through an allowance for credit losses that is deducted from the amortized cost basis. The allowance for credit losses should reflect management’s current estimate of credit losses that are expected to occur over the remaining life of a financial asset. The income statement will be affected for the measurement of credit losses for newly recognized financial assets, as well as the expected increases or decreases of expected credit losses that have taken place during the period. With certain exceptions, transition to the new requirements will be through a cumulative-effect adjustment to opening retained earnings as of the beginning of the first reporting period in which the guidance is adopted. This Update is effective for SEC filers that qualify as smaller reporting companies, non-SEC filers, and all other companies, to fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company expects to recognize a one-time cumulative-effect adjustment to the allowance for loan losses as of January 1, 2023. The Company cannot yet determine the magnitude of any such one-time adjustment or the overall impact of the new guidance on the consolidated financial statements.

ACQUISITION OF GIBRALTAR BANK

ACQUISITION OF GIBRALTAR BANK	6 Months Ended
	Jun. 30, 2022
Business Combinations [Abstract]
ACQUISITION OF GIBRALTAR BANK	NOTE 2 – ACQUISITION OF GIBRALTAR BANK On February 28, 2021, the Company completed its acquisition of Gibraltar Bank. Pursuant to the terms of the Merger Agreement, Gibraltar Bank merged with and into the Bank, with the Bank as the surviving entity. Under the terms of the merger agreement, depositors of Gibraltar Bank became depositors of the Bank and have the same rights and privileges in Bogota Financial MHC as if their accounts had been established at the Bank on the date established at Gibraltar Bank. The Company issued 1,267,916 shares of its common stock to Bogota Financial, MHC in conjunction with the acquisition. The assets acquired and liabilities assumed have been accounted for under the acquisition method of accounting. The assets and liabilities, both tangible and intangible, were recorded at their fair values as of February 28, 2021 based on management’s best estimate using the information available as of the merger date. The application of the acquisition method of accounting resulted in the recognition of bargain purchase gain of $ 1.9 million and a core deposit intangible of $ 400,000 in 2021. NOTE 2 – ACQUISITION OF GIBRALTAR BANK (Continued) Merger-related expenses of $ 392,000 for the first quarter of 2021 are recorded in the Consolidated Statements of Income and were expensed as incurred. The following table sets forth assets acquired and liabilities assumed in the acquisition of the Gibraltar Bank, at their estimated fair values as of the closing date of the transaction: As recorded by Fair value As recorded Fair value of Equity acquired $ 11,500,000 Assets Acquired Cash and cash equivalents $ 19,393,090 $ — $ 19,393,090 Securities held to maturity 7,250,000 ( 208,051 ) (a) 7,041,949 Federal Home Loan Bank stock and other 603,500 — 603,500 Loans receivable 77,683,903 ( 920,497 ) (b) 76,763,406 Allowance for loan loss ( 640,232 ) 640,232 (c) — Accrued interest receivable 302,927 — 302,927 Premises and equipment, net 348,714 1,079,647 (d) 1,428,361 Core deposit intangible — 400,000 (e) 400,000 Deferred taxes 913,303 ( 184,973 ) (f) 728,330 Other assets 362,636 ( 278,355 ) (g) 84,281 Total assets acquired $ 106,217,841 $ 528,003 $ 106,745,844 Liabilities assumed Deposits $ 81,558,612 $ 386,865 (h) $ 81,945,477 Borrowings 10,000,000 273,721 (i) 10,273,721 Advance payments by borrowers for taxes and 646,661 — 646,661 Accrued expenses and other liabilities 446,588 — 446,588 Total liabilities assumed $ 92,651,861 $ 660,586 $ 93,312,447 Net assets acquired $ 13,433,397 Bargain purchase gain recorded at merger 1,933,397 Explanation of certain fair value related adjustments: (a) Represents the fair value adjustments on investment securities at the acquisition date. (b) Represents the fair value adjustments on the net book value of loans, which includes an interest rate mark and credit mark adjustment and the reversal of deferred fees/costs and premiums over estimated useful life. (c) Represents the elimination of Gibraltar Bank allowance for loan losses. (d) Represents the fair value adjustments to reflect the fair value of land and buildings and premises and equipment, which will be amortized on a straight-line basis over the estimated useful lives of the individual assets. (e) Represents the intangible assets recorded to reflect the fair value of core deposits. The core deposit asset was recorded as an identifiable intangible asset and will be amortized on an accelerated basis over the estimated average life of the deposit base. (f) Represents an adjustment to net deferred tax assets resulting from the fair value adjustments related to the acquired assets, liabilities assumed and identifiable intangible assets recorded. (g) Represents an adjustment to other assets acquired. (h) Represents fair value adjustments on time deposits, which will be treated as a reduction of interest expense over the remaining term of the time deposits. (i) Represents FHLB borrowing calculation to prepay borrowings, which will be treated as a reduction of interest expense.

SECURITIES AVAILABLE FOR SALE

SECURITIES AVAILABLE FOR SALE	6 Months Ended
	Jun. 30, 2022
Available-for-sale Securities
Schedule Of Available For Sale Securities [Line Items]
SECURITIES AVAILABLE FOR SALE AND SECURITIES HELD TO MATURITY	NOTE 3 – SECURITIES AVAILABLE FOR SALE The following table summarizes the amortized cost, fair value, and gross unrealized gains and losses of securities available for sale, by contractual maturity, at June 30, 2022 and December 31, 2021: Amortized Gross Gross Fair June 30, 2022 U.S treasury bills less than one year $ 9,910,459 $ — $ ( 40,027 ) 9,870,432 U.S. government and agency obligations One through five years 6,000,000 — ( 432,891 ) 5,567,109 Corporate bonds due in: One through five years 15,252,017 503 ( 358,051 ) 14,894,469 Five through ten years 2,949,325 — ( 234,025 ) 2,715,300 MBSs – residential 46,918,907 11,912 ( 5,546,864 ) 41,383,955 MBSs – commercial 25,553,578 — ( 2,477,150 ) 23,076,428 Total $ 106,584,286 $ 12,415 $ ( 9,089,008 ) $ 97,507,693 Amortized Gross Gross Fair December 31, 2021 U.S. government and agency obligations One through five years $ 3,000,000 $ — $ ( 18,270 ) $ 2,981,730 Corporate bonds due in: One through five years 6,375,068 17,594 ( 636 ) 6,392,026 Five through ten years 1,002,542 3,050 — 1,005,592 MBSs – residential 21,695,539 89,297 ( 24,591 ) 21,760,245 MBSs – commercial 9,741,782 — ( 42,577 ) 9,699,205 Total $ 41,814,931 $ 109,941 $ ( 86,074 ) $ 41,838,798 All of the mortgaged-backed securities (“MBSs”) are issued by the following government sponsored agencies: Federal Home Loan Mortgage Corporation (“FHLMC”), Federal National Mortgage Association (“FNMA”) and Government National Mortgage Association (“GNMA”). NOTE 3 – SECURITIES AVAILABLE FOR SALE (Continued) There were no sales of securities during the three and six months ended June 30, 2022 or June 30, 2021. The age of unrealized losses and the fair value of related securities as of June 30, 2022 and December 31, 2021 were as follows: Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized June 30, 2022 U.S treasury bills $ 9,870,432 $ ( 40,027 ) $ — $ — $ 9,870,432 $ ( 40,027 ) U.S. government and agency obligations 5,567,109 ( 432,891 ) — — 5,567,109 ( 432,891 ) Corporate bonds 16,608,727 ( 592,076 ) — — 16,608,727 ( 592,076 ) MBSs – residential 40,333,985 ( 5,541,734 ) 239,326 ( 5,130 ) 40,573,311 ( 5,546,864 ) MBSs – commercial 23,076,428 ( 2,477,150 ) — — 23,076,428 ( 2,477,150 ) Total $ 95,456,681 $ ( 9,083,878 ) $ 239,326 $ ( 5,130 ) $ 95,696,007 $ ( 9,089,008 ) Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized December 31, 2021 U.S. government and agency obligations $ 2,981,730 $ ( 18,270 ) $ — $ — $ 2,981,730 $ ( 18,270 ) Corporate bonds 1,006,523 ( 636 ) — — 1,006,523 ( 636 ) MBSs – residential 10,000,558 ( 22,652 ) 250,581 ( 1,939 ) 10,251,139 ( 24,591 ) MBSs – commercial 9,699,205 ( 42,577 ) — — 9,699,205 ( 42,577 ) Total $ 23,688,016 $ ( 84,135 ) $ 250,581 $ ( 1,939 ) $ 23,938,597 $ ( 86,074 ) Unrealized losses on corporate bonds available for sale have not been recognized into income because the issuer bonds are of high credit quality, management does not intend to sell and it is likely that management will not be required to sell the securities prior to their anticipated recovery, and the decline in fair value was largely due to changes in interest rates and other market conditions. At June 30, 2022 , 100 % of the mortgage-backed securities were issued by U.S. government-sponsored entities and agencies, primarily FNMA and FHLMC, institutions which the government has affirmed its commitment to support. Because the decline in fair value is attributable to changes in interest rates and illiquidity, and not credit quality, and because the Bank does not have the intent to sell these mortgage-backed securities and it is likely that it will not be required to sell the securities before their anticipated recovery, the Bank does not consider these securities to be other-than-temporary impaired at June 30, 2022. At June 30, 2022 , securities available for sale with a carrying value of $ 144,705 were pledged to secure public deposits. There were no securities available for sale and pledged to secure public deposits at December 31, 2021. There were 53 securities in a loss position at June 30, 2022, none of which were considered to be other-than-temporally impaired.

SECURITIES HELD TO MATURITY

SECURITIES HELD TO MATURITY	6 Months Ended
	Jun. 30, 2022
Held-to-maturity Securities
Marketable Securities [Line Items]
SECURITIES AVAILABLE FOR SALE AND SECURITIES HELD TO MATURITY	NOTE 4 – SECURITIES HELD TO MATURITY The following table summarizes the amortized cost, fair value, and gross unrecognized gains and losses of securities held to maturity by contractual maturity at June 30, 2022 and December 31, 2021: Amortized Gross Gross Fair June 30, 2022 U.S. Government and agency obligations One through five years $ 10,000,000 $ — $ ( 288,760 ) $ 9,711,240 Five through ten years 3,000,000 — ( 340,374 ) 2,659,626 Corporate bonds due in: One through five years 938,800 — ( 40,579 ) 898,221 Five through ten years 15,317,671 14,613 ( 416,722 ) 14,915,562 Municipal obligations due in: Less than one year 8,453,894 595 ( 40,660 ) 8,413,829 One through five years 1,223,015 499 ( 71,658 ) 1,151,856 Five through ten years 375,000 128 — 375,128 Greater than ten years 1,730,290 — ( 372,950 ) 1,357,340 MBSs: Residential 15,543,065 1,545 ( 1,670,272 ) 13,874,338 Commercial 29,850,605 — ( 3,349,349 ) 26,501,256 Total $ 86,432,340 $ 17,380 $ ( 6,591,324 ) $ 79,858,396 Amortized Gross Gross Fair December 31, 2021 U.S. Government and agency obligations Five through ten years $ 3,000,000 $ — $ — $ 3,000,000 Corporate bonds due in: Five through ten years 13,681,053 410,726 ( 39,870 ) 14,051,909 Municipal obligations due in: Less than one year 4,006,006 12,668 ( 2,776 ) 4,015,898 One through five years 903,483 — ( 15,399 ) 888,084 Five through ten years 375,000 27,353 — 402,353 Greater than ten years 1,732,386 9,527 — 1,741,913 MBSs: Residential 16,913,787 75,094 ( 240,797 ) 16,748,084 Commercial 33,441,384 287,278 ( 495,844 ) 33,232,818 Total $ 74,053,099 $ 822,646 $ ( 794,686 ) $ 74,081,059 All of the MBSs are issued by the following government sponsored agencies: FHLMC, FNMA and GNMA. NOTE 4 – SECURITIES HELD TO MATURITY (Continued) The age of unrecognized losses and the fair value of related securities were as follows: Less Than 12 Months 12 Months or More Total Fair Unrecognized Fair Unrecognized Fair Unrecognized June 30, 2022 U.S. government and agency obligations $ 12,370,866 $ ( 629,134 ) $ — $ — $ 12,370,866 $ ( 629,134 ) Corporate bonds 11,431,670 ( 374,801 ) 667,500 ( 82,500 ) 12,099,170 ( 457,301 ) Municipal bonds 9,866,743 ( 485,268 ) — — 9,866,743 ( 485,268 ) MBSs – residential 8,703,765 ( 1,106,726 ) 4,934,374 ( 563,546 ) 13,638,139 ( 1,670,272 ) MBSs – commercial 20,130,247 ( 1,744,641 ) 6,371,009 ( 1,604,708 ) 26,501,256 ( 3,349,349 ) Total $ 62,503,291 $ ( 4,340,570 ) $ 11,972,883 $ ( 2,250,754 ) $ 74,476,174 $ ( 6,591,324 ) Less Than 12 Months 12 Months or More Total Fair Unrecognized Fair Unrecognized Fair Unrecognized December 31, 2021 Corporate bonds $ 3,710,120 $ ( 39,870 ) $ — $ — $ 3,710,120 $ ( 39,870 ) Municipal bonds 3,835,309 ( 18,175 ) — — 3,835,309 ( 18,175 ) MBSs – residential 10,720,544 ( 141,726 ) 2,701,345 ( 99,071 ) 13,421,889 ( 240,797 ) MBSs – commercial 7,898,509 ( 197,720 ) 4,653,364 ( 298,124 ) 12,551,873 ( 495,844 ) Total $ 26,164,482 $ ( 397,491 ) $ 7,354,709 $ ( 397,195 ) $ 33,519,191 $ ( 794,686 ) Unrecognized losses have not been recognized into income because the issuers of the securities are of high credit quality, management does not intend to sell and it is not more likely than not that management would be required to sell the securities prior to their anticipated recovery, and the decline in fair value was largely due to changes in interest rates and other market conditions. The fair value is expected to recover as the securities approach maturity. At June 30, 2022 and December 31, 2021 , securities held to maturity with a carrying amount of $ 6,643,645 and $ 8,363,997 , respectively, were pledged to secure repurchase agreements at the Federal Home Loan Bank of New York. There were 57 securities in a loss position at June 30, 2022, none of which were considered to be other-than-temporally impaired. At June 30, 2022 and December 31, 2021 , securities held to maturity with a carrying value of $ 4,792,454 and $ 3,976,629 , respectively, were pledged to secure public deposits.

LOANS

LOANS	6 Months Ended
	Jun. 30, 2022
Receivables [Abstract]
LOANS	NOTE 5 – LOANS Loans are summarized as follows at June 30, 2022 and December 31, 2021: June 30, December 31, Real estate: (unaudited) Residential $ 379,776,653 $ 319,968,234 Commercial and multi-family real estate 173,619,693 175,375,419 Construction 51,799,501 41,384,687 Commercial and industrial 2,068,871 7,905,524 Consumer: Home equity and other 25,798,836 27,728,979 Total loans 633,063,554 572,362,843 Allowance for loan losses ( 2,253,174 ) ( 2,153,174 ) Net loans $ 630,810,380 $ 570,209,669 As a qualified Small Business Administration lender, the Bank was automatically authorized to originate loans under the Paycheck Protection Program (“PPP”). During 2020, the Bank received and processed 113 PPP applications totaling approximately $ 10.5 million. The Bank participated in the second round of PPP loans and during the first half of 2021, the Bank received and processed 54 applications totaling $ 6.9 million. All outstanding PPP loans are included in the table above under commercial and industrial loans. Since origination, the Bank has processed forgiveness applications for $ 13.4 million and the outstanding balance of PPP loans at June 30, 2022 and December 31, 2021 was $ 1.4 million and $ 5.8 million, respectively. The Bank has granted loans to officers and directors of the Bank. At June 30, 2022 and December 31, 2021 , such loans totaled $ 1,754,815 and $ 577,143 , respectively. At June 30, 2022 and December 31, 2021 deferred loan fees were $ 2,127,170 and $ 1,249,233 , respectively. Purchased credit impaired ("PCI") loans are loans acquired at a discount primarily due to deteriorated credit quality. These loans are initially recorded at fair value at acquisition, based upon the present value of expected future cash flows, with no related allowance for loan losses. PCI loans acquired in the Gibraltar Bank acquisition totaled $ 4.7 million at June 30, 2022. The following table presents changes in accretable yield for PCI loans for the six months ended June 30, 2022 and 2021. Three months ended Six months ended Three Months Ended Six Months Ended Balance at the beginning of period $ 160,457 $ 170,075 $ 217,789 $ — Acquisition — — — 217,789 Accretion 8,603 18,221 — — Reclassification of non-accretable discount — — — — Balance at the end of period $ 151,854 $ 151,854 $ 217,789 $ 217,789 NOTE 5 – LOANS (Continued) The following table presents the activity in the allowance for loan losses by portfolio segments for the three months ended June 30, 2022 and 2021. Residential Commercial Construction Commercial Home equity & other Total Three months Allowance for loan losses: Beginning balance $ 1,092,474 $ 768,600 $ 195,000 $ 9,400 $ 87,700 $ 2,153,174 (Credit) provision for loan losses 159,450 ( 88,600 ) 37,000 ( 2,400 ) ( 5,450 ) 100,000 Loans charged off — — — — — — Recoveries — — — — — — Total ending allowance balance $ 1,251,924 $ 680,000 $ 232,000 $ 7,000 $ 82,250 $ 2,253,174 June 30, 2021 Allowance for loan losses: Beginning balance $ 1,185,674 $ 849,000 $ 48,000 $ 13,500 $ 86,000 $ 2,182,174 (Credit) provision for loan losses ( 58,980 ) 4,000 6,000 ( 5,020 ) — ( 54,000 ) Loans charged off — — — — — — Recoveries — — — — — — Total ending allowance balance $ 1,126,694 $ 853,000 $ 54,000 $ 8,480 $ 86,000 $ 2,128,174 The following table presents the activity in the allowance for loan losses by portfolio segments for the six months ended June 30, 2022 and 2021. Residential Commercial Construction Commercial Home equity & other Total Six months Allowance for loan losses: Beginning balance $ 1,092,474 $ 768,600 $ 195,000 $ 9,400 $ 87,700 $ 2,153,174 Provision for loan losses (credit) 159,450 ( 88,600 ) 37,000 ( 2,400 ) ( 5,450 ) 100,000 Loans charged off — — — — — — Recoveries — — — — — — Total ending allowance balance $ 1,251,924 $ 680,000 $ 232,000 $ 7,000 $ 82,250 $ 2,253,174 June 30, 2021 Allowance for loan losses: Beginning balance $ 1,254,174 $ 841,000 $ 45,000 $ 14,000 $ 87,000 $ 2,241,174 Provision for loan losses (credit) ( 127,480 ) 12,000 9,000 ( 5,520 ) ( 1,000 ) ( 113,000 ) Loans charged off — — — — — — Recoveries — — — — — — Total ending allowance balance $ 1,126,694 $ 853,000 $ 54,000 $ 8,480 $ 86,000 $ 2,128,174 NOTE 5 – LOANS (Continued) The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segments and based on impairment method as of June 30, 2022 and December 31, 2021: Residential Commercial Construction Commercial Home equity & other consumer Total June 30, 2022 Allowance for loan losses: Ending allowance balance Individually evaluated for $ 35,859 $ — $ — $ — $ — $ 35,859 Collectively evaluated for 1,216,065 680,000 232,000 7,000 82,250 2,217,315 Acquired with deteriorated — — — — — — Total ending allowance balance $ 1,251,924 $ 680,000 $ 232,000 $ 7,000 $ 82,250 $ 2,253,174 Loans: Loans individually evaluated $ 832,754 $ — $ — $ — $ 18,239 $ 850,993 Loans collectively evaluated 375,642,159 172,240,349 51,799,501 2,068,871 25,745,345 627,496,225 Loans acquired with deteriorated 3,301,740 1,379,344 — — 35,252 4,716,336 Total ending loan balance $ 379,776,653 $ 173,619,693 $ 51,799,501 $ 2,068,871 $ 25,798,836 $ 633,063,554 December 31, 2021 Allowance for loan losses: Ending allowance balance Individually evaluated for $ 35,859 $ — $ — $ — $ — $ 35,859 Collectively evaluated for 1,056,615 768,600 195,000 9,400 87,700 2,117,315 Total ending allowance balance $ 1,092,474 $ 768,600 $ 195,000 $ 9,400 $ 87,700 $ 2,153,174 Loans: Loans individually evaluated $ 1,099,793 $ — $ — $ — $ 18,507 $ 1,118,300 Loans collectively evaluated 314,754,870 173,962,424 41,384,687 7,866,263 27,710,472 565,678,716 Loans acquired with deteriorated 4,113,571 1,412,995 — 39,261 — 5,565,827 Total ending loan balance $ 319,968,234 $ 175,375,419 $ 41,384,687 $ 7,905,524 $ 27,728,979 $ 572,362,843 NOTE 5 – LOANS (Continued) Impaired loans as of and for the three and six months ended June 30, 2022 were as follows: Loans recorded Loans recorded Amount of losses allocated Residential first mortgages $ 1,215,530 $ 173,353 $ 35,859 Commercial and Multi-Family 488,849 — — Construction — — — Commercial & Industrial — — — Home equity & other consumer 18,239 — — $ 1,722,618 $ 173,353 $ 35,859 Average loans for the Three months ended Six months ended Residential first mortgages $ 1,393,122 $ 1,482,496 Commercial and Multi-Family 488,752 488,504 Construction — — Commercial & Industrial — — Home equity & other consumer 28,907 25,440 $ 1,910,781 $ 1,996,440 Impaired loans as of December 31, 2021 and for the three and six months ended June 30, 2021 were as follows: Loans recorded Loans recorded Amount of losses allocated Residential first mortgages $ 1,486,469 $ 174,776 $ 35,859 Commercial and Multi-Family 488,003 — — Construction — — — Commercial & Industrial — — — Home equity & other consumer 18,507 — — $ 1,992,979 $ 174,776 $ 35,859 Average loans for the Three months ended June 30, 2021 Six months ended June 30, 2021 Residential first mortgages $ 1,217,094 $ 1,231,099 Commercial and Multi-Family 222,534 227,226 Construction — — Commercial & Industrial — — Home equity & other consumer 18,980 19,353 $ 1,458,608 $ 1,477,678 NOTE 5 – LOANS (Continued) The Bank has three residential loans totaling $ 469,102 that were troubled debt restructurings (“TDRs”) as of June 30, 2022 , with one loan totaling $ 173,353 with a specific reserve of $ 35,859 . At December 31, 2021 , the Bank had four residential loans totaling $ 728,288 that were TDRs and one loan totaling $ 174,776 with a specific reserve of $ 35,859 . The Bank has not committed to lend additional amounts as of June 30, 2022 or December 31, 2021 to customers with outstanding loans that are classified as TDRs. There were no loans modified as TDRs during the six-month periods ended June 30, 2022 or 2021. There were no TDRs in payment default within twelve months following the modification during the six months ended June 30, 2022 or 2021. Interest income recognized on impaired loans for the three and six months ended June 30, 2022 and June 30, 2021 was nominal. The following table presents the recorded investment in nonaccrual and loans past due 90 days or more and still on accrual, excluding PCI loans, by class of loans as of June 30, 2022 and December 31, 2021: Nonaccrual Loans Past June 30, 2022 Residential $ 832,754 $ — Home equity and other consumer 18,239 — Total $ 850,993 $ — December 31, 2021 Residential $ 846,037 $ — Home equity and other consumer 18,507 — Total $ 864,544 $ — The Bank had no other real estate owned at either June 30, 2022 or December 31, 2021. NOTE 5 – LOANS (Continued) The following table presents the aging of the recorded investment in past due loans as of June 30, 2022 and December 31, 2021, by class of loans: 30-59 Days 60-89 Days Greater than Total Due Loans Not PCI loans Total June 30, 2022 Residential $ — $ 559,838 $ 286,744 $ 846,582 $ 375,628,331 $ 3,301,740 $ 379,776,653 Commercial and multi-family — — — — 172,240,349 1,379,344 173,619,693 Construction — — — — 51,799,501 — 51,799,501 Commercial and industrial — — — — 2,068,871 — 2,068,871 Home equity and other consumer 137,112 — — 137,112 25,626,472 35,252 25,798,836 Total $ 137,112 $ 559,838 $ 286,744 $ 983,694 $ 627,363,524 $ 4,716,336 $ 633,063,554 December 31, 2021 Residential $ — $ 312,616 $ 857,676 $ 1,170,292 $ 314,684,371 $ 4,113,571 $ 319,968,234 Commercial and multi-family — — — — 173,962,424 1,412,995 175,375,419 Construction — — — — 41,384,687 — 41,384,687 Commercial and industrial — — — — 7,905,524 — 7,905,524 Home Equity & Consumer 27,529 — — 27,529 27,662,189 39,261 27,728,979 Total $ 27,529 $ 312,616 $ 857,676 $ 1,197,821 $ 565,599,195 $ 5,565,827 $ 572,362,843 Loans greater than 89 days past due and loans on non-accrual are considered to be nonperforming. Credit Quality Indicators The Bank categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Bank analyzes loans individually by classifying the loans as to credit risk. Commercial and multi-family real estate, commercial and industrial and construction loans are graded on an annual basis. Residential and consumer loans are primarily evaluated based on performance. Refer to the immediately preceding table for the aging of the recorded investment of these loan segments. The Bank uses the following definitions for risk ratings: Special Mention – Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date. Substandard – Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful – Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Loans not meeting the criteria above are considered to be Pass rated loans. NOTE 5 – LOANS (Continued) Based on the most recent analysis performed, the risk category of loans by class is as follows: Pass Special Substandard Doubtful Totals June 30, 2022 Residential $ 378,943,899 $ 372,332 $ 460,422 $ — $ 379,776,653 Commercial and multi-family 173,619,693 — — — 173,619,693 Construction 51,799,501 — — — 51,799,501 Commercial and industrial 2,068,871 — — — 2,068,871 Home equity and other consumer 25,780,597 — 18,239 — 25,798,836 Total $ 632,212,561 $ 372,332 $ 478,661 $ — $ 633,063,554 December 31, 2021 Residential $ 318,868,440 $ 383,034 $ 716,760 $ — $ 319,968,234 Commercial and multi-family 174,173,925 — 1,201,494 — 175,375,419 Construction 41,384,687 — — — 41,384,687 Commercial and industrial 7,905,524 — — — 7,905,524 Home equity and other consumer 27,710,472 — 18,507 — 27,728,979 Total $ 570,043,048 $ 383,034 $ 1,936,761 $ — $ 572,362,843

STOCK BASED COMPENSATION

STOCK BASED COMPENSATION	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
STOCK BASED COMPENSATION	NOTE 6 – STOCK BASED COMPENSATION At the annual meeting held on May 27, 2021, stockholders of the Company approved the Bogota Financial Corp. 2021 Equity Incentive Plan ("2021 Plan"), which provides for the issuance of up to 902,602 shares ( 257,887 restricted stock awards and 644,718 stock options) of Bogota Financial Corp. common stock. On September 2, 2021, 226,519 shares of restricted stock were awarded, with a grant date fair value of $ 10.45 per share. Grants of restricted common stock were issued from authorized but unissued shares. Restricted shares granted under the 2021 Plan vest in equal installments, over a service period of five years , beginning one year from the date of grant. Management recognizes compensation expense for the fair value of restricted shares on a straight-line basis over the requisite service period. During the three and six months ended June 30, 2022, approximately $ 118,000 and $ 236,000 in expense was recognized in regard to these awards. There was no restricted stock expense recorded for the three and six months ended June 30, 2021. The expected future compensation expense related to the 226,519 non-vested restricted shares outstanding at June 30, 2022 was approximately $ 2.0 million over a weighted average period of four years . The following is a summary of the Company's restricted stock activity during the six months ended June 30, 2022: Number of non-vested Restricted Shares Weighted Average Grant Date Fair Value Outstanding, January 1, 2022 226,519 $ 10.45 Granted — — Vested — — Forfeited — — Outstanding, June 30, 2022 226,519 $ 10.45 NOTE 6 – STOCK BASED COMPENSATION (Continued) On September 2, 2021, options to purchase 526,119 shares of Company common stock were awarded, with a grant date fair value of $ 4.37 per option. Stock options granted under the 2021 Plan vest in equal installments over a service period of five years beginning one year from the date of grant. Stock options were granted at an exercise price of $ 10.45 , which represents the fair value of the Company's common stock price on the grant date based on the closing market price, and have an expiration period of 10 years . The fair value of stock options granted was estimated utilizing the Black-Scholes option pricing model using the following assumptions: expected life of 6.5 years, risk-free rate of return of 0.904 %, volatility of 41.10 %, and a dividend yield of 0.00 %. The expected life of the options represents the period of time that stock options are expected to be outstanding and is estimated using the simplified approach, which assumes that all outstanding options will be exercised at the midpoint of the vesting date and full contractual term. The risk-free rate of return is based on the rates on the grant date of a U.S. Treasury Note with a term equal to the expected option life. Since the Company recently converted to a public Company and does not have sufficient historical price data, the expected volatility is based on the historical daily stock prices of a peer group of similar entities based on factors such as industry, stage of life cycle, size and financial leverage. The Company has no t paid any cash dividends on its common stock. Management recognizes expense for the fair value of these awards on a straight-line basis over the requisite service period. During the three and six months ended June 30, 2022, approximately $ 115,000 and $ 230,000 in expense was recognized in regard to these awards, respectively. There was no stock option expense recorded for the three or six months ended June 30, 2021. The expected future compensation expense related to the 526,119 non-vested options outstanding at June 30, 2022 was $ 1.9 million over the vesting period of four years . The following is a summary of the Company's option activity during the six months ended June 30, 2022: Number of Stock Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value Outstanding, January 1, 2022 $ 523,619 $ 10.45 6.5 $ 397,951 Granted — Exercised — Forfeited — Outstanding, June 30, 2022 523,619 $ 10.45 5.9 $ 397,591 Options exercisable at June 30, 2022 $ — $ — The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value, the difference between the Company's closing stock price on the last trading day of the period and the exercise price, multiplied by the number of in-the-money options.

EMPLOYEE STOCK OWNERSHIP PLAN

EMPLOYEE STOCK OWNERSHIP PLAN	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
EMPLOYEE STOCK OWNERSHIP PLAN	NOTE 7 – EMPLOYEE STOCK OWNERSHIP PLAN In connection with our mutual-to-stock reorganization and stock offering, the Bank established an employee stock ownership plan (“ESOP”), which acquired 515,775 shares of the Company’s common stock equaling 3.92 % of the Company's outstanding shares. The ESOP is a tax-qualified retirement plan providing employees the opportunity to own Company stock. Bank contributions to the ESOP are allocated to eligible participants on the basis of compensation, subject to federal tax limits. The number of shares to be allocated annually is 25,789 through 2039. During the three months ended June 30, 2022 and 2021, $ 70,000 and $ 65,000 was incurred as expense for the plan, respectively. During the six months ended June 30, 2022 and 2021, $ 137,000 and $ 125,000 was incurred as expense for the plan, respectively. As of June 30, 2022, 65,789 shares have been allocated and 449,977 shares are unallocated with a fair value of $ 5.1 million.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	Note 8 – Commitments and Contingencies The Bank is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers and to reduce its own exposure to fluctuations in interest rates. These financial instruments primarily include commitments to extend credit. Such instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the consolidated statements of financial condition. The contractual amounts of these instruments reflect the extent of involvement the Bank has in those particular classes of financial instruments. The Bank’s exposure to credit loss in the event of nonperformance by the other party to the financial instruments for commitments to extend credit is represented by the contractual amount of those instruments. The Bank uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. The Bank had outstanding firm commitments, all of which expire within three months, to originate, loans at June 30, 2022 and December 31, 2021 as follows: June 30, December 31, Fixed Rate Residential mortgage loans $ 27,116,500 $ 2,986,250 Commercial real estate 350,000 — Construction 675,000 — Home equity — 170,000 Total $ 28,141,500 $ 3,156,250 June 30, December 31, Variable Rate Residential mortgage loans $ 25,144,739 $ — Commercial real estate 3,040,000 1,400,000 Commercial and industrial 500,000 — Construction — 7,522,375 Home equity 618,000 1,060,000 Total $ 29,302,739 $ 9,982,375 Commitments to make loans are generally made for periods of 90 days or less. The fixed rate loan commitments have interest rates ranging from 3.50 % to 6.00 % and maturities ranging from 10 years to 30 years. At June 30, 2022 and December 31, 2021 , undisbursed funds from approved lines of credit under a homeowners’ equity lending program amounted to $ 47,745,830 and $ 48,028,579 , respectively. At June 30, 2022 and December 31, 2021 , undisbursed funds from approved lines of credit under a business line of credit program amounted to $ 8,176,073 and $ 7,938,827 , respectively. Unless they are specifically cancelled by notice from the Bank, these funds represent firm commitments available to the respective borrowers on demand. Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since some of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Bank evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Bank upon extension of credit, is based on management’s credit evaluation of the counterparty. Collateral held varies but primarily includes commercial and residential real estate. The Bank leases certain Bank properties and equipment under operating leases. Rent expense was $ 43,364 and $ 48,012 for the three months ended June 30, 2022 and 2021, respectively. Rent expense was $ 87,179 and $ 73,763 for the six months ended June 30, 2022 and 2021 , respectively.

FAIR VALUE

FAIR VALUE	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE	NOTE 9 – FAIR VALUE Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values: Level 1 – Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2 – Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3 – Significant unobservable inputs that reflect a bank’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. The Bank used the following methods and significant assumptions to estimate the fair value of each type of financial instrument: The Bank’s available-for-sale portfolio is carried at estimated fair value on a recurring basis, with any unrealized gains and losses, net of taxes, reported as accumulated other comprehensive income/loss in stockholders’ equity. The securities available-for-sale portfolio consists of corporate bonds and mortgage-backed securities. The fair values of these securities are obtained from an independent nationally recognized pricing service. An independent pricing service provides prices which are categorized as Level 2, as quoted prices in active markets for identical assets are generally not available for the securities. Assets measured at fair value on a recurring basis are summarized below: Carrying Quoted Prices Significant Significant As of June 30, 2022 Securities available for sale: U.S. treasury bills $ 9,870,432 $ 9,870,432 $ — $ — U.S. government and agency obligations 5,567,109 — 5,567,109 — Corporate bonds 17,609,769 — 17,609,769 — MBSs - residential 41,383,955 — 41,383,955 — MBSs - commercial 23,076,428 — 23,076,428 — $ 97,507,693 $ 9,870,432 $ 87,637,261 $ — As of December 31, 2021 Securities available for sale: U.S. government and agency obligations $ 2,981,730 $ — $ 2,981,730 Corporate bonds 7,397,618 — 7,397,618 — MBSs - residential 21,760,245 — 21,760,245 — MBSs - commercial 9,699,205 — 9,699,205 — $ 41,838,798 $ — $ 41,838,798 $ — There were no transfers between level 1 and level 2 during the six months ended June 30, 2022. NOTE 9 – FAIR VALUE (Continued) The carrying amounts and estimated fair values of financial instruments not measured at fair value, at June 30, 2022 and December 31, 2021, were as follows: Carrying Fair Fair Value Measurement Placement Amount Value (Level 1) (Level 2) (Level 3) (In thousands) June 30, 2022 Financial instruments - assets Cash and due from banks $ 7,604 $ 7,604 $ 7,604 $ — $ — Investment securities held-to-maturity 86,432 79,858 — 79,858 — Loans and loans held for sale 631,170 595,775 — — 595,775 Financial instruments - liabilities Certificates of deposit 367,866 369,394 — 369,394 — Borrowings 115,279 114,670 — 114,670 — Carrying Fair Fair Value Measurement Placement Amount Value (Level 1) (Level 2) (Level 3) (In thousands) December 31, 2021 Financial instruments - assets Cash and due from banks $ 105,069 $ 105,069 $ 105,069 $ — $ — Investment securities held-to-maturity 74,053 74,081 — 74,081 — Loans and loans held for sale 571,363 569,845 — — 569,845 Financial instruments - liabilities Certificates of deposit 366,396 365,452 — 365,452 — Borrowings 85,052 86,657 — 86,657 — Carrying amount is the estimated fair value for cash and cash equivalents. The fair value of loans is determined using an exit price methodology. Certificates of deposits fair value is estimated by using a discounted cash flow approach. Fair value of FHLB advances is based on current rates for similar financing. The fair value of off-balance sheet items is not considered material.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	6 Months Ended
	Jun. 30, 2022
Stockholders' Equity Note [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	NOTE 10 – ACCUMULATED OTHER COMPREHENSIVE LOSS The components of accumulated other comprehensive loss included in equity (net of tax) for the three and six months ended June 30, 2022 and 2021 was as follows: Unrealized gain securities Benefit plans Total Three months ended June 30, 2022 Beginning balance at April 1, 2022 $ ( 2,689,802 ) $ 58,747 $ ( 2,631,055 ) Other comprehensive (loss) income before reclassification — — — Amounts reclassified ( 4,142,333 ) 41,589 ( 4,100,744 ) Net period comprehensive (loss) income ( 4,142,333 ) 41,589 ( 4,100,744 ) Ending balance at June 30, 2022 $ ( 6,832,135 ) $ 100,336 $ ( 6,731,799 ) June 30, 2021 Beginning balance at April 1, 2021 $ 112,120 $ ( 342,201 ) $ ( 230,081 ) Other comprehensive income before reclassification — — — Amounts reclassified 9,212 31,381 40,593 Net period comprehensive income 9,212 31,381 40,593 Ending balance at June 30, 2021 $ 121,332 $ ( 310,820 ) $ ( 189,488 ) Unrealized gain securities Benefit plans Total Six months ended Beginning balance at January 1, 2022 $ ( 289,814 ) $ 17,158 $ ( 272,656 ) Other comprehensive income before reclassification — — — Amounts reclassified ( 6,542,321 ) 83,178 ( 6,459,143 ) Net period comprehensive income ( 6,542,321 ) 83,178 ( 6,459,143 ) Ending balance at June 30, 2022 $ ( 6,832,135 ) $ 100,336 $ ( 6,731,799 ) June 30, 2021 Beginning balance at January 1, 2021 $ 100,569 $ ( 373,582 ) $ ( 273,013 ) Other comprehensive income before reclassification — — — Amounts reclassified 20,763 62,762 83,525 Net period comprehensive income 20,763 62,762 83,525 Ending balance at June 30, 2021 $ 121,332 $ ( 310,820 ) $ ( 189,488 )

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Nature of Operations and Principles of Consolidation	Nature of Operations and Principles of Consolidation : On January 15, 2020, Bogota Financial Corp. (the “Company,” “we” or “our”) became the mid-tier stock holding company for Bogota Savings Bank (the “Bank”) in connection with the reorganization of Bogota Savings Bank into the two-tier mutual holding company structure. The Bank maintains two subsidiaries. Bogota Securities Corp. was formed for the purpose of buying, selling and holding investment securities. Bogota Properties, LLC was inactive at June 30, 2022 and December 31, 2021. The Bank generally originates residential, commercial and consumer loans to, and accepts deposits from, customers in New Jersey. The debtors’ ability to repay the loans is dependent upon the region’s economy and the borrowers’ circumstances. The Bank is also subject to the regulations of certain federal and state agencies and undergoes periodic examination by those regulatory authorities. The Company completed its stock offering in connection with the mutual holding company reorganization of the Bank on January 15, 2020. Shares of the Company’s common stock began trading on January 16, 2020 on the Nasdaq Capital Market under the trading symbol “BSBK.”
Reclassifications	Reclassifications : Some items in the prior year financial statements were reclassified to conform to the current presentation. Reclassifications had no effect on prior year net income or stockholders' equity.
Earnings per Share	Earnings per Share: Basic earnings per share (“EPS”) is computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding during the period. For purposes of calculating basic EPS, weighted average common shares outstanding excludes unallocated employee stock ownership plan shares that have not been committed for release and non-vested restricted stock. Diluted EPS is computed using the same method as basic EPS and reflects the potential dilution which could occur if stock options shares were exercised and converted into common stock. The potentially diluted shares would then be included in the weighted average number of shares outstanding for the period using the treasury stock method. For the three-and-six month periods ended June 30, 2022, options to purchase 526,119 common shares with an exercise price of $ 10.45 were outstanding but were not included in the computation of diluted earnings per common share because to do so would be anti-dilutive. The Company did no t have any outstanding stock options or shares of restricted stock for the three and six-month periods ended June 30, 2021. The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per share calculations for the three and six months ended June 30, 2022 and 2021. For the three months ended June 30, 2022 For the three months ended June 30, 2021 For the six months ended June 30, 2022 For the six months ended June 30, 2021 Numerator Net income $ 1,642,007 $ 1,438,724 $ 3,042,904 $ 4,445,031 Denominator: Weighted average shares outstanding - basic 13,662,222 13,945,423 13,760,002 13,528,822 Effect of stock options 39,452 — 40,166 — Weighted average shares outstanding - diluted 13,701,674 13,945,423 13,800,168 13,528,822 Earnings per common share: Basic $ 0.12 $ 0.10 $ 0.22 $ 0.33 Diluted 0.12 0.10 0.22 0.33
Use of Estimates	Use of Estimates : To prepare financial statements in conformity with accounting principles generally accepted in the United States of America, management makes estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, and actual results could differ under different conditions than those assumed.
Basis of Presentation	Basis of Presentation : The accompanying unaudited consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and pursuant to the requirements for reporting in Article 10 of Regulation S-X of the Securities Exchange Act of 1934, as amended. The Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”) contains provisions that, among other things, reduce certain reporting requirements for qualifying public companies. As an “emerging growth company” we may delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies. We intend to take advantage of the benefits of this extended transition period. Accordingly, our financial statements may not be comparable to companies that comply with such new or revised accounting standards. These financial statements include the accounts of the Company, the Bank and its subsidiaries, and all significant intercompany balances and transactions are eliminated in consolidation. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions based on available information. In the opinion of management, all adjustments (consisting of normal recurring adjustments) and disclosures necessary for the fair presentation of the accompanying consolidated financial statements have been included. The results of operations for any interim periods are not necessarily indicative of the results which may be expected for the entire year or any other period. The unaudited financial statements and other financial information contained in this Quarterly Report on Form 10-Q should be read in conjunction with the audited financial statements, and related notes, of Bogota Financial Corp. at and for the year ended December 31, 2021 .
Not Yet Effective Accounting Pronouncements:	Not Yet Effective Accounting Pronouncements : In January 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, March 2020, to provide temporary optional expedients and exceptions to the U.S. GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens of the expected market transition from LIBOR and other interbank offered rates to alternative reference rates, such as the Secured Overnight Financing Rate. Entities can elect not to apply certain modification accounting requirements to contracts affected by what the guidance calls “reference rate reform” if certain criteria are met. An entity that makes this election would not have to remeasure the contracts at the modification date or re assess a previous accounting determination. Also, entities can elect various optional expedients that would allow them to continue applying hedge accounting for hedging relationships affected by reference rate reform if certain criteria are met, and can make a one-time election to sell and/or reclassify held-to-maturity debt securities that reference an interest rate affected by reference rate reform. The amendments in this ASU are effective for all entities upon issuance through December 31, 2022. The Company is currently evaluating the impact the adoption of the standard will have on the Company’s financial position and results of operations. In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments, which changes the impairment model for most financial assets. This Update is intended to improve financial reporting by requiring timelier recording of credit losses on loans and other financial instruments held by financial institutions and other organizations. The underlying premise of the Update is that financial assets measured at amortized cost should be presented at the net amount expected to be collected, through an allowance for credit losses that is deducted from the amortized cost basis. The allowance for credit losses should reflect management’s current estimate of credit losses that are expected to occur over the remaining life of a financial asset. The income statement will be affected for the measurement of credit losses for newly recognized financial assets, as well as the expected increases or decreases of expected credit losses that have taken place during the period. With certain exceptions, transition to the new requirements will be through a cumulative-effect adjustment to opening retained earnings as of the beginning of the first reporting period in which the guidance is adopted. This Update is effective for SEC filers that qualify as smaller reporting companies, non-SEC filers, and all other companies, to fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company expects to recognize a one-time cumulative-effect adjustment to the allowance for loan losses as of January 1, 2023. The Company cannot yet determine the magnitude of any such one-time adjustment or the overall impact of the new guidance on the consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jun. 30, 2022
Schedule Of Earnings Per Share Basic And Diluted [Abstract]
Summary of earnings per share basic and diluted	The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per share calculations for the three and six months ended June 30, 2022 and 2021. For the three months ended June 30, 2022 For the three months ended June 30, 2021 For the six months ended June 30, 2022 For the six months ended June 30, 2021 Numerator Net income $ 1,642,007 $ 1,438,724 $ 3,042,904 $ 4,445,031 Denominator: Weighted average shares outstanding - basic 13,662,222 13,945,423 13,760,002 13,528,822 Effect of stock options 39,452 — 40,166 — Weighted average shares outstanding - diluted 13,701,674 13,945,423 13,800,168 13,528,822 Earnings per common share: Basic $ 0.12 $ 0.10 $ 0.22 $ 0.33 Diluted 0.12 0.10 0.22 0.33

ACQUISITION OF GIBRALTAR BANK (

ACQUISITION OF GIBRALTAR BANK (Tables)	6 Months Ended
	Jun. 30, 2022
Business Combinations [Abstract]
Schedule of Assets Acquired and Liabilities Assumed	The following table sets forth assets acquired and liabilities assumed in the acquisition of the Gibraltar Bank, at their estimated fair values as of the closing date of the transaction: As recorded by Fair value As recorded Fair value of Equity acquired $ 11,500,000 Assets Acquired Cash and cash equivalents $ 19,393,090 $ — $ 19,393,090 Securities held to maturity 7,250,000 ( 208,051 ) (a) 7,041,949 Federal Home Loan Bank stock and other 603,500 — 603,500 Loans receivable 77,683,903 ( 920,497 ) (b) 76,763,406 Allowance for loan loss ( 640,232 ) 640,232 (c) — Accrued interest receivable 302,927 — 302,927 Premises and equipment, net 348,714 1,079,647 (d) 1,428,361 Core deposit intangible — 400,000 (e) 400,000 Deferred taxes 913,303 ( 184,973 ) (f) 728,330 Other assets 362,636 ( 278,355 ) (g) 84,281 Total assets acquired $ 106,217,841 $ 528,003 $ 106,745,844 Liabilities assumed Deposits $ 81,558,612 $ 386,865 (h) $ 81,945,477 Borrowings 10,000,000 273,721 (i) 10,273,721 Advance payments by borrowers for taxes and 646,661 — 646,661 Accrued expenses and other liabilities 446,588 — 446,588 Total liabilities assumed $ 92,651,861 $ 660,586 $ 93,312,447 Net assets acquired $ 13,433,397 Bargain purchase gain recorded at merger 1,933,397 Explanation of certain fair value related adjustments: (a) Represents the fair value adjustments on investment securities at the acquisition date. (b) Represents the fair value adjustments on the net book value of loans, which includes an interest rate mark and credit mark adjustment and the reversal of deferred fees/costs and premiums over estimated useful life. (c) Represents the elimination of Gibraltar Bank allowance for loan losses. (d) Represents the fair value adjustments to reflect the fair value of land and buildings and premises and equipment, which will be amortized on a straight-line basis over the estimated useful lives of the individual assets. (e) Represents the intangible assets recorded to reflect the fair value of core deposits. The core deposit asset was recorded as an identifiable intangible asset and will be amortized on an accelerated basis over the estimated average life of the deposit base. (f) Represents an adjustment to net deferred tax assets resulting from the fair value adjustments related to the acquired assets, liabilities assumed and identifiable intangible assets recorded. (g) Represents an adjustment to other assets acquired. (h) Represents fair value adjustments on time deposits, which will be treated as a reduction of interest expense over the remaining term of the time deposits. (i) Represents FHLB borrowing calculation to prepay borrowings, which will be treated as a reduction of interest expense.

SECURITIES AVAILABLE FOR SALE (

SECURITIES AVAILABLE FOR SALE (Tables)	6 Months Ended
	Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Summary of amortized cost, fair value, and gross unrealized gains and losses of securities available for sale by contractual maturity bucket	The following table summarizes the amortized cost, fair value, and gross unrealized gains and losses of securities available for sale, by contractual maturity, at June 30, 2022 and December 31, 2021: Amortized Gross Gross Fair June 30, 2022 U.S treasury bills less than one year $ 9,910,459 $ — $ ( 40,027 ) 9,870,432 U.S. government and agency obligations One through five years 6,000,000 — ( 432,891 ) 5,567,109 Corporate bonds due in: One through five years 15,252,017 503 ( 358,051 ) 14,894,469 Five through ten years 2,949,325 — ( 234,025 ) 2,715,300 MBSs – residential 46,918,907 11,912 ( 5,546,864 ) 41,383,955 MBSs – commercial 25,553,578 — ( 2,477,150 ) 23,076,428 Total $ 106,584,286 $ 12,415 $ ( 9,089,008 ) $ 97,507,693 Amortized Gross Gross Fair December 31, 2021 U.S. government and agency obligations One through five years $ 3,000,000 $ — $ ( 18,270 ) $ 2,981,730 Corporate bonds due in: One through five years 6,375,068 17,594 ( 636 ) 6,392,026 Five through ten years 1,002,542 3,050 — 1,005,592 MBSs – residential 21,695,539 89,297 ( 24,591 ) 21,760,245 MBSs – commercial 9,741,782 — ( 42,577 ) 9,699,205 Total $ 41,814,931 $ 109,941 $ ( 86,074 ) $ 41,838,798
Summary of debt securities available for sale and unrealized loss position	The age of unrealized losses and the fair value of related securities as of June 30, 2022 and December 31, 2021 were as follows: Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized June 30, 2022 U.S treasury bills $ 9,870,432 $ ( 40,027 ) $ — $ — $ 9,870,432 $ ( 40,027 ) U.S. government and agency obligations 5,567,109 ( 432,891 ) — — 5,567,109 ( 432,891 ) Corporate bonds 16,608,727 ( 592,076 ) — — 16,608,727 ( 592,076 ) MBSs – residential 40,333,985 ( 5,541,734 ) 239,326 ( 5,130 ) 40,573,311 ( 5,546,864 ) MBSs – commercial 23,076,428 ( 2,477,150 ) — — 23,076,428 ( 2,477,150 ) Total $ 95,456,681 $ ( 9,083,878 ) $ 239,326 $ ( 5,130 ) $ 95,696,007 $ ( 9,089,008 ) Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized December 31, 2021 U.S. government and agency obligations $ 2,981,730 $ ( 18,270 ) $ — $ — $ 2,981,730 $ ( 18,270 ) Corporate bonds 1,006,523 ( 636 ) — — 1,006,523 ( 636 ) MBSs – residential 10,000,558 ( 22,652 ) 250,581 ( 1,939 ) 10,251,139 ( 24,591 ) MBSs – commercial 9,699,205 ( 42,577 ) — — 9,699,205 ( 42,577 ) Total $ 23,688,016 $ ( 84,135 ) $ 250,581 $ ( 1,939 ) $ 23,938,597 $ ( 86,074 )

SECURITIES HELD TO MATURITY (Ta

SECURITIES HELD TO MATURITY (Tables)	6 Months Ended
	Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Summary of amortized cost, fair value, and gross unrecognized gains and losses of securities held to maturity by contractual maturity	The following table summarizes the amortized cost, fair value, and gross unrecognized gains and losses of securities held to maturity by contractual maturity at June 30, 2022 and December 31, 2021: Amortized Gross Gross Fair June 30, 2022 U.S. Government and agency obligations One through five years $ 10,000,000 $ — $ ( 288,760 ) $ 9,711,240 Five through ten years 3,000,000 — ( 340,374 ) 2,659,626 Corporate bonds due in: One through five years 938,800 — ( 40,579 ) 898,221 Five through ten years 15,317,671 14,613 ( 416,722 ) 14,915,562 Municipal obligations due in: Less than one year 8,453,894 595 ( 40,660 ) 8,413,829 One through five years 1,223,015 499 ( 71,658 ) 1,151,856 Five through ten years 375,000 128 — 375,128 Greater than ten years 1,730,290 — ( 372,950 ) 1,357,340 MBSs: Residential 15,543,065 1,545 ( 1,670,272 ) 13,874,338 Commercial 29,850,605 — ( 3,349,349 ) 26,501,256 Total $ 86,432,340 $ 17,380 $ ( 6,591,324 ) $ 79,858,396 Amortized Gross Gross Fair December 31, 2021 U.S. Government and agency obligations Five through ten years $ 3,000,000 $ — $ — $ 3,000,000 Corporate bonds due in: Five through ten years 13,681,053 410,726 ( 39,870 ) 14,051,909 Municipal obligations due in: Less than one year 4,006,006 12,668 ( 2,776 ) 4,015,898 One through five years 903,483 — ( 15,399 ) 888,084 Five through ten years 375,000 27,353 — 402,353 Greater than ten years 1,732,386 9,527 — 1,741,913 MBSs: Residential 16,913,787 75,094 ( 240,797 ) 16,748,084 Commercial 33,441,384 287,278 ( 495,844 ) 33,232,818 Total $ 74,053,099 $ 822,646 $ ( 794,686 ) $ 74,081,059
Summary of debt securities held to maturity and unrealized loss position	The age of unrecognized losses and the fair value of related securities were as follows: Less Than 12 Months 12 Months or More Total Fair Unrecognized Fair Unrecognized Fair Unrecognized June 30, 2022 U.S. government and agency obligations $ 12,370,866 $ ( 629,134 ) $ — $ — $ 12,370,866 $ ( 629,134 ) Corporate bonds 11,431,670 ( 374,801 ) 667,500 ( 82,500 ) 12,099,170 ( 457,301 ) Municipal bonds 9,866,743 ( 485,268 ) — — 9,866,743 ( 485,268 ) MBSs – residential 8,703,765 ( 1,106,726 ) 4,934,374 ( 563,546 ) 13,638,139 ( 1,670,272 ) MBSs – commercial 20,130,247 ( 1,744,641 ) 6,371,009 ( 1,604,708 ) 26,501,256 ( 3,349,349 ) Total $ 62,503,291 $ ( 4,340,570 ) $ 11,972,883 $ ( 2,250,754 ) $ 74,476,174 $ ( 6,591,324 ) Less Than 12 Months 12 Months or More Total Fair Unrecognized Fair Unrecognized Fair Unrecognized December 31, 2021 Corporate bonds $ 3,710,120 $ ( 39,870 ) $ — $ — $ 3,710,120 $ ( 39,870 ) Municipal bonds 3,835,309 ( 18,175 ) — — 3,835,309 ( 18,175 ) MBSs – residential 10,720,544 ( 141,726 ) 2,701,345 ( 99,071 ) 13,421,889 ( 240,797 ) MBSs – commercial 7,898,509 ( 197,720 ) 4,653,364 ( 298,124 ) 12,551,873 ( 495,844 ) Total $ 26,164,482 $ ( 397,491 ) $ 7,354,709 $ ( 397,195 ) $ 33,519,191 $ ( 794,686 )

LOANS (Tables)

LOANS (Tables)	6 Months Ended
	Jun. 30, 2022
Receivables [Abstract]
Summary of loans receivable	Loans are summarized as follows at June 30, 2022 and December 31, 2021: June 30, December 31, Real estate: (unaudited) Residential $ 379,776,653 $ 319,968,234 Commercial and multi-family real estate 173,619,693 175,375,419 Construction 51,799,501 41,384,687 Commercial and industrial 2,068,871 7,905,524 Consumer: Home equity and other 25,798,836 27,728,979 Total loans 633,063,554 572,362,843 Allowance for loan losses ( 2,253,174 ) ( 2,153,174 ) Net loans $ 630,810,380 $ 570,209,669
Schedule of Changes in Accretable Yield for PCI Loans	The following table presents changes in accretable yield for PCI loans for the six months ended June 30, 2022 and 2021. Three months ended Six months ended Three Months Ended Six Months Ended Balance at the beginning of period $ 160,457 $ 170,075 $ 217,789 $ — Acquisition — — — 217,789 Accretion 8,603 18,221 — — Reclassification of non-accretable discount — — — — Balance at the end of period $ 151,854 $ 151,854 $ 217,789 $ 217,789
Summary of activity in the allowance for loan losses by portfolio segment	The following table presents the activity in the allowance for loan losses by portfolio segments for the three months ended June 30, 2022 and 2021. Residential Commercial Construction Commercial Home equity & other Total Three months Allowance for loan losses: Beginning balance $ 1,092,474 $ 768,600 $ 195,000 $ 9,400 $ 87,700 $ 2,153,174 (Credit) provision for loan losses 159,450 ( 88,600 ) 37,000 ( 2,400 ) ( 5,450 ) 100,000 Loans charged off — — — — — — Recoveries — — — — — — Total ending allowance balance $ 1,251,924 $ 680,000 $ 232,000 $ 7,000 $ 82,250 $ 2,253,174 June 30, 2021 Allowance for loan losses: Beginning balance $ 1,185,674 $ 849,000 $ 48,000 $ 13,500 $ 86,000 $ 2,182,174 (Credit) provision for loan losses ( 58,980 ) 4,000 6,000 ( 5,020 ) — ( 54,000 ) Loans charged off — — — — — — Recoveries — — — — — — Total ending allowance balance $ 1,126,694 $ 853,000 $ 54,000 $ 8,480 $ 86,000 $ 2,128,174 The following table presents the activity in the allowance for loan losses by portfolio segments for the six months ended June 30, 2022 and 2021. Residential Commercial Construction Commercial Home equity & other Total Six months Allowance for loan losses: Beginning balance $ 1,092,474 $ 768,600 $ 195,000 $ 9,400 $ 87,700 $ 2,153,174 Provision for loan losses (credit) 159,450 ( 88,600 ) 37,000 ( 2,400 ) ( 5,450 ) 100,000 Loans charged off — — — — — — Recoveries — — — — — — Total ending allowance balance $ 1,251,924 $ 680,000 $ 232,000 $ 7,000 $ 82,250 $ 2,253,174 June 30, 2021 Allowance for loan losses: Beginning balance $ 1,254,174 $ 841,000 $ 45,000 $ 14,000 $ 87,000 $ 2,241,174 Provision for loan losses (credit) ( 127,480 ) 12,000 9,000 ( 5,520 ) ( 1,000 ) ( 113,000 ) Loans charged off — — — — — — Recoveries — — — — — — Total ending allowance balance $ 1,126,694 $ 853,000 $ 54,000 $ 8,480 $ 86,000 $ 2,128,174
Summary of allowance for loan losses and the recorded investment in loans by portfolio segments	The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segments and based on impairment method as of June 30, 2022 and December 31, 2021: Residential Commercial Construction Commercial Home equity & other consumer Total June 30, 2022 Allowance for loan losses: Ending allowance balance Individually evaluated for $ 35,859 $ — $ — $ — $ — $ 35,859 Collectively evaluated for 1,216,065 680,000 232,000 7,000 82,250 2,217,315 Acquired with deteriorated — — — — — — Total ending allowance balance $ 1,251,924 $ 680,000 $ 232,000 $ 7,000 $ 82,250 $ 2,253,174 Loans: Loans individually evaluated $ 832,754 $ — $ — $ — $ 18,239 $ 850,993 Loans collectively evaluated 375,642,159 172,240,349 51,799,501 2,068,871 25,745,345 627,496,225 Loans acquired with deteriorated 3,301,740 1,379,344 — — 35,252 4,716,336 Total ending loan balance $ 379,776,653 $ 173,619,693 $ 51,799,501 $ 2,068,871 $ 25,798,836 $ 633,063,554 December 31, 2021 Allowance for loan losses: Ending allowance balance Individually evaluated for $ 35,859 $ — $ — $ — $ — $ 35,859 Collectively evaluated for 1,056,615 768,600 195,000 9,400 87,700 2,117,315 Total ending allowance balance $ 1,092,474 $ 768,600 $ 195,000 $ 9,400 $ 87,700 $ 2,153,174 Loans: Loans individually evaluated $ 1,099,793 $ — $ — $ — $ 18,507 $ 1,118,300 Loans collectively evaluated 314,754,870 173,962,424 41,384,687 7,866,263 27,710,472 565,678,716 Loans acquired with deteriorated 4,113,571 1,412,995 — 39,261 — 5,565,827 Total ending loan balance $ 319,968,234 $ 175,375,419 $ 41,384,687 $ 7,905,524 $ 27,728,979 $ 572,362,843
Summary of impaired loans	Impaired loans as of and for the three and six months ended June 30, 2022 were as follows: Loans recorded Loans recorded Amount of losses allocated Residential first mortgages $ 1,215,530 $ 173,353 $ 35,859 Commercial and Multi-Family 488,849 — — Construction — — — Commercial & Industrial — — — Home equity & other consumer 18,239 — — $ 1,722,618 $ 173,353 $ 35,859 Average loans for the Three months ended Six months ended Residential first mortgages $ 1,393,122 $ 1,482,496 Commercial and Multi-Family 488,752 488,504 Construction — — Commercial & Industrial — — Home equity & other consumer 28,907 25,440 $ 1,910,781 $ 1,996,440 Impaired loans as of December 31, 2021 and for the three and six months ended June 30, 2021 were as follows: Loans recorded Loans recorded Amount of losses allocated Residential first mortgages $ 1,486,469 $ 174,776 $ 35,859 Commercial and Multi-Family 488,003 — — Construction — — — Commercial & Industrial — — — Home equity & other consumer 18,507 — — $ 1,992,979 $ 174,776 $ 35,859 Average loans for the Three months ended June 30, 2021 Six months ended June 30, 2021 Residential first mortgages $ 1,217,094 $ 1,231,099 Commercial and Multi-Family 222,534 227,226 Construction — — Commercial & Industrial — — Home equity & other consumer 18,980 19,353 $ 1,458,608 $ 1,477,678
Summary of recorded investment in nonaccrual and past due	The following table presents the recorded investment in nonaccrual and loans past due 90 days or more and still on accrual, excluding PCI loans, by class of loans as of June 30, 2022 and December 31, 2021: Nonaccrual Loans Past June 30, 2022 Residential $ 832,754 $ — Home equity and other consumer 18,239 — Total $ 850,993 $ — December 31, 2021 Residential $ 846,037 $ — Home equity and other consumer 18,507 — Total $ 864,544 $ —
Summary of aging of loans receivable by portfolio segment	The following table presents the aging of the recorded investment in past due loans as of June 30, 2022 and December 31, 2021, by class of loans: 30-59 Days 60-89 Days Greater than Total Due Loans Not PCI loans Total June 30, 2022 Residential $ — $ 559,838 $ 286,744 $ 846,582 $ 375,628,331 $ 3,301,740 $ 379,776,653 Commercial and multi-family — — — — 172,240,349 1,379,344 173,619,693 Construction — — — — 51,799,501 — 51,799,501 Commercial and industrial — — — — 2,068,871 — 2,068,871 Home equity and other consumer 137,112 — — 137,112 25,626,472 35,252 25,798,836 Total $ 137,112 $ 559,838 $ 286,744 $ 983,694 $ 627,363,524 $ 4,716,336 $ 633,063,554 December 31, 2021 Residential $ — $ 312,616 $ 857,676 $ 1,170,292 $ 314,684,371 $ 4,113,571 $ 319,968,234 Commercial and multi-family — — — — 173,962,424 1,412,995 175,375,419 Construction — — — — 41,384,687 — 41,384,687 Commercial and industrial — — — — 7,905,524 — 7,905,524 Home Equity & Consumer 27,529 — — 27,529 27,662,189 39,261 27,728,979 Total $ 27,529 $ 312,616 $ 857,676 $ 1,197,821 $ 565,599,195 $ 5,565,827 $ 572,362,843
Summary of loans receivable by credit quality risk	Based on the most recent analysis performed, the risk category of loans by class is as follows: Pass Special Substandard Doubtful Totals June 30, 2022 Residential $ 378,943,899 $ 372,332 $ 460,422 $ — $ 379,776,653 Commercial and multi-family 173,619,693 — — — 173,619,693 Construction 51,799,501 — — — 51,799,501 Commercial and industrial 2,068,871 — — — 2,068,871 Home equity and other consumer 25,780,597 — 18,239 — 25,798,836 Total $ 632,212,561 $ 372,332 $ 478,661 $ — $ 633,063,554 December 31, 2021 Residential $ 318,868,440 $ 383,034 $ 716,760 $ — $ 319,968,234 Commercial and multi-family 174,173,925 — 1,201,494 — 175,375,419 Construction 41,384,687 — — — 41,384,687 Commercial and industrial 7,905,524 — — — 7,905,524 Home equity and other consumer 27,710,472 — 18,507 — 27,728,979 Total $ 570,043,048 $ 383,034 $ 1,936,761 $ — $ 572,362,843

STOCK BASED COMPENSATION (Table

STOCK BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Summary of Restricted Stock Activity	The following is a summary of the Company's restricted stock activity during the six months ended June 30, 2022: Number of non-vested Restricted Shares Weighted Average Grant Date Fair Value Outstanding, January 1, 2022 226,519 $ 10.45 Granted — — Vested — — Forfeited — — Outstanding, June 30, 2022 226,519 $ 10.45
Summary of Option Activity	The following is a summary of the Company's option activity during the six months ended June 30, 2022: Number of Stock Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value Outstanding, January 1, 2022 $ 523,619 $ 10.45 6.5 $ 397,951 Granted — Exercised — Forfeited — Outstanding, June 30, 2022 523,619 $ 10.45 5.9 $ 397,591 Options exercisable at June 30, 2022 $ — $ —

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Summary of outstanding firm commitments	The Bank had outstanding firm commitments, all of which expire within three months, to originate, loans at June 30, 2022 and December 31, 2021 as follows: June 30, December 31, Fixed Rate Residential mortgage loans $ 27,116,500 $ 2,986,250 Commercial real estate 350,000 — Construction 675,000 — Home equity — 170,000 Total $ 28,141,500 $ 3,156,250 June 30, December 31, Variable Rate Residential mortgage loans $ 25,144,739 $ — Commercial real estate 3,040,000 1,400,000 Commercial and industrial 500,000 — Construction — 7,522,375 Home equity 618,000 1,060,000 Total $ 29,302,739 $ 9,982,375

FAIR VALUE (Tables)

FAIR VALUE (Tables)	6 Months Ended
	Jun. 30, 2022
Summary of carrying amounts and estimated fair values of financial instruments not Measured at Fair Value	The carrying amounts and estimated fair values of financial instruments not measured at fair value, at June 30, 2022 and December 31, 2021, were as follows: Carrying Fair Fair Value Measurement Placement Amount Value (Level 1) (Level 2) (Level 3) (In thousands) June 30, 2022 Financial instruments - assets Cash and due from banks $ 7,604 $ 7,604 $ 7,604 $ — $ — Investment securities held-to-maturity 86,432 79,858 — 79,858 — Loans and loans held for sale 631,170 595,775 — — 595,775 Financial instruments - liabilities Certificates of deposit 367,866 369,394 — 369,394 — Borrowings 115,279 114,670 — 114,670 — Carrying Fair Fair Value Measurement Placement Amount Value (Level 1) (Level 2) (Level 3) (In thousands) December 31, 2021 Financial instruments - assets Cash and due from banks $ 105,069 $ 105,069 $ 105,069 $ — $ — Investment securities held-to-maturity 74,053 74,081 — 74,081 — Loans and loans held for sale 571,363 569,845 — — 569,845 Financial instruments - liabilities Certificates of deposit 366,396 365,452 — 365,452 — Borrowings 85,052 86,657 — 86,657 —
Fair Value, Recurring
Summary of fair value, assets measured on recurring and nonrecurring basis	Assets measured at fair value on a recurring basis are summarized below: Carrying Quoted Prices Significant Significant As of June 30, 2022 Securities available for sale: U.S. treasury bills $ 9,870,432 $ 9,870,432 $ — $ — U.S. government and agency obligations 5,567,109 — 5,567,109 — Corporate bonds 17,609,769 — 17,609,769 — MBSs - residential 41,383,955 — 41,383,955 — MBSs - commercial 23,076,428 — 23,076,428 — $ 97,507,693 $ 9,870,432 $ 87,637,261 $ — As of December 31, 2021 Securities available for sale: U.S. government and agency obligations $ 2,981,730 $ — $ 2,981,730 Corporate bonds 7,397,618 — 7,397,618 — MBSs - residential 21,760,245 — 21,760,245 — MBSs - commercial 9,699,205 — 9,699,205 — $ 41,838,798 $ — $ 41,838,798 $ —

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	6 Months Ended
	Jun. 30, 2022
Stockholders' Equity Note [Abstract]
Summary of accumulated other comprehensive income (loss)	The components of accumulated other comprehensive loss included in equity (net of tax) for the three and six months ended June 30, 2022 and 2021 was as follows: Unrealized gain securities Benefit plans Total Three months ended June 30, 2022 Beginning balance at April 1, 2022 $ ( 2,689,802 ) $ 58,747 $ ( 2,631,055 ) Other comprehensive (loss) income before reclassification — — — Amounts reclassified ( 4,142,333 ) 41,589 ( 4,100,744 ) Net period comprehensive (loss) income ( 4,142,333 ) 41,589 ( 4,100,744 ) Ending balance at June 30, 2022 $ ( 6,832,135 ) $ 100,336 $ ( 6,731,799 ) June 30, 2021 Beginning balance at April 1, 2021 $ 112,120 $ ( 342,201 ) $ ( 230,081 ) Other comprehensive income before reclassification — — — Amounts reclassified 9,212 31,381 40,593 Net period comprehensive income 9,212 31,381 40,593 Ending balance at June 30, 2021 $ 121,332 $ ( 310,820 ) $ ( 189,488 ) Unrealized gain securities Benefit plans Total Six months ended Beginning balance at January 1, 2022 $ ( 289,814 ) $ 17,158 $ ( 272,656 ) Other comprehensive income before reclassification — — — Amounts reclassified ( 6,542,321 ) 83,178 ( 6,459,143 ) Net period comprehensive income ( 6,542,321 ) 83,178 ( 6,459,143 ) Ending balance at June 30, 2022 $ ( 6,832,135 ) $ 100,336 $ ( 6,731,799 ) June 30, 2021 Beginning balance at January 1, 2021 $ 100,569 $ ( 373,582 ) $ ( 273,013 ) Other comprehensive income before reclassification — — — Amounts reclassified 20,763 62,762 83,525 Net period comprehensive income 20,763 62,762 83,525 Ending balance at June 30, 2021 $ 121,332 $ ( 310,820 ) $ ( 189,488 )

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Detail)		3 Months Ended	6 Months Ended
	Feb. 28, 2021 shares	Jun. 30, 2022 $ / shares shares	Jun. 30, 2022 Subsidiary $ / shares shares	Dec. 31, 2021 shares	Jun. 30, 2021 shares
Number of subsidiaries | Subsidiary			2
Number of share options awarded		526,119	526,119
Grant date fair value of options awarded | $ / shares		$ 10.45	$ 10.45
Number of stock options outstanding					0
Restricted Stock [Member]
Restricted stock outstanding		226,519	226,519	226,519
Bogota Financial, MHC
Shares issued during period	1,267,916

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Summary of earnings per share basic and Diluted (Detail) - USD ($)	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Numerator
Net income	$ 1,642,007	$ 1,400,897	$ 1,438,724	$ 3,006,307	$ 3,042,904	$ 4,445,031
Denominator
Weighted average shares outstanding - basic	13,662,222		13,945,423		13,760,002	13,528,822
Effect of stock options	39,452				40,166
Weighted average shares outstanding diluted	13,701,674		13,945,423		13,800,168	13,528,822
Earnings per common share:
Basic	$ 0.12		$ 0.10		$ 0.22	$ 0.33
Diluted	$ 0.12		$ 0.10		$ 0.22	$ 0.33

ACQUISITION OF GIBRALTAR BANK -

ACQUISITION OF GIBRALTAR BANK - Additional Information (Detail) - USD ($)		3 Months Ended	6 Months Ended
	Feb. 28, 2021	Mar. 31, 2021	Jun. 30, 2021
Business Acquisition [Line Items]
Bargain purchase gain			$ 1,933,397
Gibraltar Bank
Business Acquisition [Line Items]
Bargain purchase gain	$ 1,933,397
Core deposit intangible	$ 400,000
Merger-related expenses		$ 392,000
Bogota Financial, MHC
Business Acquisition [Line Items]
Issuance of common stock for initial public offering, net of expenses, shares	1,267,916

ACQUISITION OF GIBRALTAR BANK_2

ACQUISITION OF GIBRALTAR BANK - Schedule of Assets Acquired and Liabilities Assumed (Detail) - USD ($)		6 Months Ended
	Feb. 28, 2021	Jun. 30, 2021
Liabilities assumed
Bargain purchase gain recorded at merger		$ 1,933,397
Gibraltar Bank
Business Acquisition [Line Items]
Fair value of Equity acquired	$ 11,500,000
Assets Acquired
Cash and cash equivalents	19,393,090
Securities held to maturity	7,041,949
Federal Home Loan Bank stock and other restricted stock	603,500
Loans receivable	76,763,406
Accrued interest receivable	302,927
Premises and equipment, net	1,428,361
Core deposit intangible	400,000
Deferred taxes	728,330
Other assets	84,281
Total assets acquired	106,745,844
Liabilities assumed
Deposits	81,945,477
Borrowings	10,273,721
Advance payments by borrowers for taxes and insurance	646,661
Accrued expenses and other liabilities	446,588
Total liabilities assumed	93,312,447
Net assets acquired	13,433,397
Bargain purchase gain recorded at merger	1,933,397
Gibraltar Bank | As Recorded by Gibraltar Bank
Assets Acquired
Cash and cash equivalents	19,393,090
Securities held to maturity	7,250,000
Federal Home Loan Bank stock and other restricted stock	603,500
Loans receivable	77,683,903
Allowance for loan loss	(640,232)
Accrued interest receivable	302,927
Premises and equipment, net	348,714
Deferred taxes	913,303
Other assets	362,636
Total assets acquired	106,217,841
Liabilities assumed
Deposits	81,558,612
Borrowings	10,000,000
Advance payments by borrowers for taxes and insurance	646,661
Accrued expenses and other liabilities	446,588
Total liabilities assumed	92,651,861
Gibraltar Bank | Fair Value Adjustments
Assets Acquired
Securities held to maturity	(208,051)
Loans receivable	(920,497)
Allowance for loan loss	640,232
Premises and equipment, net	1,079,647
Core deposit intangible	400,000
Deferred taxes	(184,973)
Other assets	(278,355)
Total assets acquired	528,003
Liabilities assumed
Deposits	386,865
Borrowings	273,721
Total liabilities assumed	$ 660,586

SECURITIES AVAILABLE FOR SALE -

SECURITIES AVAILABLE FOR SALE - Summary of amortized cost, fair value, and gross unrealized gains and losses of securities available for sale by contractual maturity bucket (Detail) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	$ 106,584,286	$ 41,814,931
Gross Unrealized Gains	12,415	109,941
Gross Unrealized Losses	(9,089,008)	(86,074)
Fair Value	97,507,693	41,838,798
U.S Treasury Bills
Schedule Of Available For Sale Securities [Line Items]
U.S Treasury Bills Less Than One Year, Amortized Cost	9,910,459
U.S Treasury Bills Less Than One Year, Gross Unrealized Losses	(40,027)
U.S Treasury Bills Less Than One Year, Fair Value	9,870,432
U.S. Government and Agency Obligations
Schedule Of Available For Sale Securities [Line Items]
Securities due in One through five years, Amortized Cost	6,000,000	3,000,000
Securities due in One through five years, Gross Unrealized Losses	(432,891)	(18,270)
Securities due in One through five years, Fair Value	5,567,109	2,981,730
Corporate Bonds
Schedule Of Available For Sale Securities [Line Items]
Securities due in One through five years, Amortized Cost	15,252,017	6,375,068
Corporate bonds due in Five through ten years, Amortized Cost	2,949,325	1,002,542
Securities due in One through five years, Gross Unrealized Gains	503	17,594
Corporate bonds due in Five through ten years, Gross Unrealized Gains		3,050
Securities due in One through five years, Gross Unrealized Losses	(358,051)	(636)
Corporate bonds due in Five through ten years, Gross Unrealized Losses	(234,025)
Securities due in One through five years, Fair Value	14,894,469	6,392,026
Corporate bonds due in Five through ten years, Fair Value	2,715,300	1,005,592
Residential Mortgage Backed Securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	46,918,907	21,695,539
Gross Unrealized Gains	11,912	89,297
Gross Unrealized Losses	(5,546,864)	(24,591)
Fair Value	41,383,955	21,760,245
Commercial Mortgage Backed Securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	25,553,578	9,741,782
Gross Unrealized Losses	(2,477,150)	(42,577)
Fair Value	$ 23,076,428	$ 9,699,205

SECURITIES AVAILABLE FOR SALE_2

SECURITIES AVAILABLE FOR SALE - Additional Information (Detail)	3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($) Securities	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) Securities	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Schedule Of Available For Sale Securities [Line Items]
Number of securities in loss position | Securities	53		53
Interest – bearing deposits in other | Collateral Pledged
Schedule Of Available For Sale Securities [Line Items]
Debt securities, available-for-sale, restricted	$ 144,705		$ 144,705		$ 0
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises
Schedule Of Available For Sale Securities [Line Items]
Sales of available-for-sale securities	$ 0	$ 0	$ 0	$ 0
Percent of MSB issued	100%		100%

SECURITIES AVAILABLE FOR SALE_3

SECURITIES AVAILABLE FOR SALE - Summary of debt securities available for sale and unrealized loss position (Detail) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Debt Securities Available For Sale Unrealized Loss Position Fair Value [Line Items]
Fair Value, Less Than 12 Months	$ 95,456,681	$ 23,688,016
Unrealized Losses, Less Than 12 Months	(9,083,878)	(84,135)
Fair Value, 12 Months or More	239,326	250,581
Unrealized Losses, 12 Months or More	(5,130)	(1,939)
Fair Value, Total	95,696,007	23,938,597
Unrealized Losses, Total	(9,089,008)	(86,074)
U.S Treasury Bills
Debt Securities Available For Sale Unrealized Loss Position Fair Value [Line Items]
Fair Value, Less Than 12 Months	9,870,432
Unrealized Losses, Less Than 12 Months	(40,027)
Fair Value, Total	9,870,432
Unrealized Losses, Total	(40,027)
U.S. Government and Agency Obligations
Debt Securities Available For Sale Unrealized Loss Position Fair Value [Line Items]
Fair Value, Less Than 12 Months	5,567,109	2,981,730
Unrealized Losses, Less Than 12 Months	(432,891)	(18,270)
Fair Value, Total	5,567,109	2,981,730
Unrealized Losses, Total	(432,891)	(18,270)
Corporate Bonds
Debt Securities Available For Sale Unrealized Loss Position Fair Value [Line Items]
Fair Value, Less Than 12 Months	16,608,727	1,006,523
Unrealized Losses, Less Than 12 Months	(592,076)	(636)
Fair Value, Total	16,608,727	1,006,523
Unrealized Losses, Total	(592,076)	(636)
Residential Mortgage Backed Securities
Debt Securities Available For Sale Unrealized Loss Position Fair Value [Line Items]
Fair Value, Less Than 12 Months	40,333,985	10,000,558
Unrealized Losses, Less Than 12 Months	(5,541,734)	(22,652)
Fair Value, 12 Months or More	239,326	250,581
Unrealized Losses, 12 Months or More	(5,130)	(1,939)
Fair Value, Total	40,573,311	10,251,139
Unrealized Losses, Total	(5,546,864)	(24,591)
Commercial Mortgage Backed Securities
Debt Securities Available For Sale Unrealized Loss Position Fair Value [Line Items]
Fair Value, Less Than 12 Months	23,076,428	9,699,205
Unrealized Losses, Less Than 12 Months	(2,477,150)	(42,577)
Fair Value, Total	23,076,428	9,699,205
Unrealized Losses, Total	$ (2,477,150)	$ (42,577)

SECURITIES HELD TO MATURITY - S

SECURITIES HELD TO MATURITY - Summary of amortized cost, fair value, and gross unrecognized gains and losses of securities held to maturity by contractual maturity (Detail) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Marketable Securities [Line Items]
Amortized Cost	$ 86,432,340	$ 74,053,099
Gross Unrealized Gains	17,380	822,646
Gross Unrealized Losses	(6,591,324)	(794,686)
Fair Value	79,858,396	74,081,059
U.S. Government and Agency Obligations
Marketable Securities [Line Items]
Securities held to maturity, due in One through five years, Amortized Cost	10,000,000
Securities held to maturity, due in Five through ten years, Amortized Cost	3,000,000	3,000,000
Securities held to maturity, due in One through five years, Gross Unrealized Gains	(288,760)
Securities held to maturity, due in Five through ten years, Gross Unrealized Gains	(340,374)
Securities held to maturity, due in One through five years, Fair Value	9,711,240
Securities held to maturity, due in Five through ten years, Fair Value	2,659,626	3,000,000
Corporate Bonds
Marketable Securities [Line Items]
Securities held to maturity, due in One through five years, Amortized Cost	938,800
Securities held to maturity, due in Five through ten years, Amortized Cost	15,317,671	13,681,053
Securities held to maturity, due in Five through ten years, Gross Unrealized Gains	14,613	410,726
Securities held to maturity, due in One through five years, Gross Unrealized Losses	(40,579)
Securities held to maturity, due in Five through ten years, Gross Unrealized Losses	(416,722)	(39,870)
Securities held to maturity, due in One through five years, Fair Value	898,221
Securities held to maturity, due in Five through ten years, Fair Value	14,915,562	14,051,909
Municipal Obligations
Marketable Securities [Line Items]
Securities held to maturity, due in Less than one year, Amortized Cost	8,453,894	4,006,006
Securities held to maturity, due in One through five years, Amortized Cost	1,223,015	903,483
Securities held to maturity, due in Five through ten years, Amortized Cost	375,000	375,000
Securities held to maturity, due in more than ten years, Amortized Cost	1,730,290	1,732,386
Securities held to maturity, due in Less than one year, Gross Unrealized Gains	595	12,668
Securities held to maturity, due in One through five years, Gross Unrealized Gains	499
Securities held to maturity, due in Five through ten years, Gross Unrealized Gains	128	27,353
Securities held to maturity, due in more than ten years, Gross Unrealized Gains		9,527
Securities held to maturity, due in Less than one year, Gross Unrealized Losses	(40,660)	(2,776)
Securities held to maturity, due in One through five years, Gross Unrealized Losses	(71,658)	(15,399)
Securities held to maturity, due in more than ten years, Gross Unrealized Losses	(372,950)
Securities held to maturity, due in Less than one year, Fair Value	8,413,829	4,015,898
Securities held to maturity, due in One through five years, Fair Value	1,151,856	888,084
Securities held to maturity, due in Five through ten years, Fair Value	375,128	402,353
Securities held to maturity, due in more than ten years, Fair Value	1,357,340	1,741,913
Residential Mortgage Backed Securities
Marketable Securities [Line Items]
Amortized Cost	15,543,065	16,913,787
Gross Unrealized Gains	1,545	75,094
Gross Unrealized Losses	(1,670,272)	(240,797)
Fair Value	13,874,338	16,748,084
Commercial Mortgage Backed Securities
Marketable Securities [Line Items]
Amortized Cost	29,850,605	33,441,384
Gross Unrealized Gains		287,278
Gross Unrealized Losses	(3,349,349)	(495,844)
Fair Value	$ 26,501,256	$ 33,232,818

SECURITIES HELD TO MATURITY -_2

SECURITIES HELD TO MATURITY - Summary of debt securities held to maturity and unrealized loss position (Detail) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Marketable Securities [Line Items]
Fair Value, Less Than 12 Months	$ 62,503,291	$ 26,164,482
Unrealized Losses, Less Than 12 Months	(4,340,570)	(397,491)
Fair Value, 12 Months or More	11,972,883	7,354,709
Unrealized Losses, 12 Months or More	(2,250,754)	(397,195)
Fair Value, Total	74,476,174	33,519,191
Unrealized Losses, Total	(6,591,324)	(794,686)
U.S. Government and Agency Obligations
Marketable Securities [Line Items]
Fair Value, Less Than 12 Months	12,370,866
Unrealized Losses, Less Than 12 Months	(629,134)
Fair Value, Total	12,370,866
Unrealized Losses, Total	(629,134)
Corporate Bonds
Marketable Securities [Line Items]
Fair Value, Less Than 12 Months	11,431,670	3,710,120
Unrealized Losses, Less Than 12 Months	(374,801)	(39,870)
Fair Value, 12 Months or More	667,500
Unrealized Losses, 12 Months or More	(82,500)
Fair Value, Total	12,099,170	3,710,120
Unrealized Losses, Total	(457,301)	(39,870)
Municipal Bonds
Marketable Securities [Line Items]
Fair Value, Less Than 12 Months	9,866,743	3,835,309
Unrealized Losses, Less Than 12 Months	(485,268)	(18,175)
Fair Value, Total	9,866,743	3,835,309
Unrealized Losses, Total	(485,268)	(18,175)
MBSs - residential
Marketable Securities [Line Items]
Fair Value, Less Than 12 Months	8,703,765	10,720,544
Unrealized Losses, Less Than 12 Months	(1,106,726)	(141,726)
Fair Value, 12 Months or More	4,934,374	2,701,345
Unrealized Losses, 12 Months or More	(563,546)	(99,071)
Fair Value, Total	13,638,139	13,421,889
Unrealized Losses, Total	(1,670,272)	(240,797)
MBSs - commercial
Marketable Securities [Line Items]
Fair Value, Less Than 12 Months	20,130,247	7,898,509
Unrealized Losses, Less Than 12 Months	(1,744,641)	(197,720)
Fair Value, 12 Months or More	6,371,009	4,653,364
Unrealized Losses, 12 Months or More	(1,604,708)	(298,124)
Fair Value, Total	26,501,256	12,551,873
Unrealized Losses, Total	$ (3,349,349)	$ (495,844)

SECURITIES HELD TO MATURITY - A

SECURITIES HELD TO MATURITY - Additional Information (Detail)	Jun. 30, 2022 USD ($) Securities	Dec. 31, 2021 USD ($)
Schedule Of Held To Maturity Securities [Line Items]
Number of securities in loss position | Securities	57
Collateral Pledged | Federal Funds Purchased and Securities Sold under Agreements to Repurchase
Schedule Of Held To Maturity Securities [Line Items]
Debt securities, held to maturity, restricted	$ 6,643,645	$ 8,363,997
Collateral Pledged | Interest – bearing deposits in other
Schedule Of Held To Maturity Securities [Line Items]
Debt securities, held to maturity, restricted	$ 4,792,454	$ 3,976,629

LOANS - Summary of loans receiv

LOANS - Summary of loans receivable (Detail) - USD ($)	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Financing Receivable, Past Due [Line Items]
Total loans	$ 633,063,554		$ 572,362,843
Allowance for loan losses	(2,253,174)	$ (2,153,174)	(2,153,174)	$ (2,128,174)	$ (2,182,174)	$ (2,241,174)
Net loans	630,810,380		570,209,669
Commercial Portfolio Segment
Financing Receivable, Past Due [Line Items]
Total loans	2,068,871		7,905,524
Allowance for loan losses	(7,000)	(9,400)	(9,400)	(8,480)	(13,500)	(14,000)
Residential First Mortgage | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Total loans	379,776,653		319,968,234
Allowance for loan losses	(1,251,924)	(1,092,474)	(1,092,474)	(1,126,694)	(1,185,674)	(1,254,174)
Commercial and Multi-Family Real Estate | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Total loans	173,619,693		175,375,419
Allowance for loan losses	(680,000)	(768,600)	(768,600)	(853,000)	(849,000)	(841,000)
Construction | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Total loans	51,799,501		41,384,687
Allowance for loan losses	(232,000)	(195,000)	(195,000)	(54,000)	(48,000)	(45,000)
Home Equity and Other | Consumer
Financing Receivable, Past Due [Line Items]
Total loans	25,798,836		27,728,979
Allowance for loan losses	$ (82,250)	$ (87,700)	$ (87,700)	$ (86,000)	$ (86,000)	$ (87,000)

LOANS - Additional Information

LOANS - Additional Information (Detail)	3 Months Ended	6 Months Ended		12 Months Ended
	Mar. 31, 2022 USD ($)	Jun. 30, 2022 USD ($) Loan	Jun. 30, 2021 USD ($) Loan Application	Dec. 31, 2020 USD ($) Application	Dec. 31, 2021 USD ($) Loan
Financing Receivable, Past Due [Line Items]
Loans receivable from related parties		$ 1,754,815			$ 577,143
Deferred loan fees		2,127,170			1,249,233
Fair value of PCI loans		4,716,336			5,565,827
Loan receivable outstanding balance		633,063,554			572,362,843
Impaired Financing Receivable, with Related Allowance, Recorded Investment		173,353			174,776
Amount of allowance for loan losses allocated		35,859			35,859
Gibraltar Bank
Financing Receivable, Past Due [Line Items]
Fair value of PCI loans		4,700,000
Commercial Portfolio Segment
Financing Receivable, Past Due [Line Items]
Fair value of PCI loans					39,261
Loan receivable outstanding balance		2,068,871			$ 7,905,524
Number of troubled debt restructured loans | Loan					1
Impaired Financing Receivable, with Related Allowance, Recorded Investment					$ 174,776
Paycheck Protection Program | Commercial Portfolio Segment
Financing Receivable, Past Due [Line Items]
Number of applications received and processed | Application			54	113
Loans received and processed			$ 6,900,000	$ 10,500,000
Forgiveness applications processed outstanding amount	$ 13,400,000
Loan receivable outstanding balance		1,400,000			5,800,000
Residential | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Fair value of PCI loans		3,301,740			4,113,571
Loan receivable outstanding balance		$ 379,776,653			$ 319,968,234
Number of troubled debt restructured loans | Loan		3			4
Troubled debt restructured loans		$ 469,102			$ 728,288
Impaired Financing Receivable, with Related Allowance, Recorded Investment		173,353			174,776
Specific reserve for troubled debt restructured loans		35,859
Amount of allowance for loan losses allocated		$ 35,859			35,859
Financing receivable, modifications, number of contracts | Loan		0	0
Financing receivable, troubled debt restructuring, subsequent default, number of contracts | Loan		0	0
Other real estate owned		$ 0			$ 0

LOANS - Schedule of Changes in

LOANS - Schedule of Changes in Accretable Yield for PCI Loans (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Receivables [Abstract]
Balance at the beginning of period	$ 160,457	$ 217,789	$ 170,075
Acquisition		0		$ 217,789
Accretion	8,603		18,221
Balance at the end of period	$ 151,854	$ 217,789	$ 151,854	$ 217,789

LOANS - Summary of activity in

LOANS - Summary of activity in the allowance for loan losses by portfolio segment (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Financing Receivable, Past Due [Line Items]
Beginning balance	$ 2,153,174	$ 2,182,174	$ 2,153,174	$ 2,241,174
Provision (credit) for loan losses	100,000	(54,000)	100,000	(113,000)
Ending balance	2,253,174	2,128,174	2,253,174	2,128,174
Commercial Real Estate Portfolio Segment | Residential First Mortgage
Financing Receivable, Past Due [Line Items]
Beginning balance	1,092,474	1,185,674	1,092,474	1,254,174
Provision (credit) for loan losses	159,450	(58,980)	159,450	(127,480)
Ending balance	1,251,924	1,126,694	1,251,924	1,126,694
Commercial Real Estate Portfolio Segment | Commercial and Multi-Family Real Estate
Financing Receivable, Past Due [Line Items]
Beginning balance	768,600	849,000	768,600	841,000
Provision (credit) for loan losses	(88,600)	4,000	(88,600)	12,000
Ending balance	680,000	853,000	680,000	853,000
Commercial Real Estate Portfolio Segment | Construction
Financing Receivable, Past Due [Line Items]
Beginning balance	195,000	48,000	195,000	45,000
Provision (credit) for loan losses	37,000	6,000	37,000	9,000
Ending balance	232,000	54,000	232,000	54,000
Commercial Portfolio Segment
Financing Receivable, Past Due [Line Items]
Beginning balance	9,400	13,500	9,400	14,000
Provision (credit) for loan losses	(2,400)	(5,020)	(2,400)	(5,520)
Ending balance	7,000	8,480	7,000	8,480
Consumer | Home Equity and Other
Financing Receivable, Past Due [Line Items]
Beginning balance	87,700	86,000	87,700	87,000
Provision (credit) for loan losses	5,450		5,450	(1,000)
Ending balance	$ 82,250	$ 86,000	$ 82,250	$ 86,000

LOANS - Summary of allowance fo

LOANS - Summary of allowance for loan losses and the recorded investment in loans by portfolio segments (Detail) - USD ($)	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Financing Receivable, Past Due [Line Items]
Individually evaluated for impairment	$ 35,859		$ 35,859
Collectively evaluated for impairment	2,217,315		2,117,315
Total ending allowance balance	2,253,174	$ 2,153,174	2,153,174	$ 2,128,174	$ 2,182,174	$ 2,241,174
Loans individually evaluated for impairment	850,993		1,118,300
Loans collectively evaluated for impairment	627,496,225		565,678,716
Loans acquired with deteriorated credit quality	4,716,336		5,565,827
Total ending loan balance	633,063,554		572,362,843
Commercial Real Estate Portfolio Segment | Residential First Mortgage
Financing Receivable, Past Due [Line Items]
Individually evaluated for impairment	35,859		35,859
Collectively evaluated for impairment	1,216,065		1,056,615
Total ending allowance balance	1,251,924	1,092,474	1,092,474	1,126,694	1,185,674	1,254,174
Loans individually evaluated for impairment	832,754		1,099,793
Loans collectively evaluated for impairment	375,642,159		314,754,870
Loans acquired with deteriorated credit quality	3,301,740		4,113,571
Total ending loan balance	379,776,653		319,968,234
Commercial Real Estate Portfolio Segment | Commercial and Multi-Family Real Estate
Financing Receivable, Past Due [Line Items]
Collectively evaluated for impairment	680,000		768,600
Total ending allowance balance	680,000	768,600	768,600	853,000	849,000	841,000
Loans collectively evaluated for impairment	172,240,349		173,962,424
Loans acquired with deteriorated credit quality	1,379,344		1,412,995
Total ending loan balance	173,619,693		175,375,419
Commercial Real Estate Portfolio Segment | Construction
Financing Receivable, Past Due [Line Items]
Collectively evaluated for impairment	232,000		195,000
Total ending allowance balance	232,000	195,000	195,000	54,000	48,000	45,000
Loans collectively evaluated for impairment	51,799,501		41,384,687
Total ending loan balance	51,799,501		41,384,687
Commercial Portfolio Segment
Financing Receivable, Past Due [Line Items]
Collectively evaluated for impairment	7,000		9,400
Total ending allowance balance	7,000	9,400	9,400	8,480	13,500	14,000
Loans collectively evaluated for impairment	2,068,871		7,866,263
Loans acquired with deteriorated credit quality			39,261
Total ending loan balance	2,068,871		7,905,524
Consumer | Home Equity and Other
Financing Receivable, Past Due [Line Items]
Collectively evaluated for impairment	82,250		87,700
Total ending allowance balance	82,250	$ 87,700	87,700	$ 86,000	$ 86,000	$ 87,000
Loans individually evaluated for impairment	18,239		18,507
Loans collectively evaluated for impairment	25,745,345		27,710,472
Loans acquired with deteriorated credit quality	35,252		39,261
Total ending loan balance	$ 25,798,836		$ 27,728,979

LOANS - Summary of impaired loa

LOANS - Summary of impaired loans (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Financing Receivable, Past Due [Line Items]
Loans with no related allowance recorded	$ 1,722,618		$ 1,722,618		$ 1,992,979
Loans with an allowance recorded	173,353		173,353		174,776
Amount of allowance for loan losses allocated	35,859		35,859		35,859
Average of individually impaired loans	1,910,781	$ 1,458,608	1,996,440	$ 1,477,678
Commercial Portfolio Segment
Financing Receivable, Past Due [Line Items]
Loans with an allowance recorded					174,776
Residential First Mortgage | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Loans with no related allowance recorded	1,215,530		1,215,530		1,486,469
Loans with an allowance recorded	173,353		173,353		174,776
Amount of allowance for loan losses allocated	35,859		35,859		35,859
Average of individually impaired loans	1,393,122	1,217,094	1,482,496	1,231,099
Commercial and Multi-Family | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Loans with no related allowance recorded	488,849		488,849		488,003
Average of individually impaired loans	488,752	222,534	488,504	227,226
Home equity & other consumer | Consumer
Financing Receivable, Past Due [Line Items]
Loans with no related allowance recorded	18,239		18,239		$ 18,507
Average of individually impaired loans	$ 28,907	$ 18,980	$ 25,440	$ 19,353

LOANS - Summary of recorded inv

LOANS - Summary of recorded investment in non-accrual and past due (Detail) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Financing Receivable, Past Due [Line Items]
Nonaccrual	$ 850,993	$ 864,544
Residential | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Nonaccrual	832,754	846,037
Home Equity and Other Consumer
Financing Receivable, Past Due [Line Items]
Nonaccrual	$ 18,239	$ 18,507

LOANS - Summary of aging of loa

LOANS - Summary of aging of loans receivable by portfolio segment (Detail) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Financing Receivable, Past Due [Line Items]
Loans acquired with deteriorated credit quality	$ 4,716,336	$ 5,565,827
Total loans	633,063,554	572,362,843
Commercial and Industrial
Financing Receivable, Past Due [Line Items]
Total loans	2,068,871	7,905,524
Residential First Mortgage | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Loans acquired with deteriorated credit quality	3,301,740	4,113,571
Total loans	379,776,653	319,968,234
Commercial and Multi-Family | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Loans acquired with deteriorated credit quality	1,379,344	1,412,995
Total loans	173,619,693	175,375,419
Construction | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Total loans	51,799,501	41,384,687
Home Equity Loan | Consumer
Financing Receivable, Past Due [Line Items]
Loans acquired with deteriorated credit quality	35,252	39,261
Total loans	25,798,836	27,728,979
Home Equity and Other Consumer
Financing Receivable, Past Due [Line Items]
Loans acquired with deteriorated credit quality	35,252
Total loans	25,798,836	27,728,979
30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans Not Past Due	137,112	27,529
30-59 Days Past Due | Home Equity Loan | Consumer
Financing Receivable, Past Due [Line Items]
Loans Not Past Due		27,529
30-59 Days Past Due | Home Equity and Other Consumer | Consumer
Financing Receivable, Past Due [Line Items]
Loans Not Past Due	137,112
60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans Not Past Due	559,838	312,616
60-89 Days Past Due | Residential First Mortgage | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Loans Not Past Due	559,838	312,616
Greater than 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans Not Past Due	286,744	857,676
Greater than 89 Days Past Due | Residential First Mortgage | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Loans Not Past Due	286,744	857,676
Past Due
Financing Receivable, Past Due [Line Items]
Loans Not Past Due	983,694	1,197,821
Past Due | Residential First Mortgage | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Loans Not Past Due	846,582	1,170,292
Past Due | Home Equity Loan | Consumer
Financing Receivable, Past Due [Line Items]
Loans Not Past Due		27,529
Past Due | Home Equity and Other Consumer
Financing Receivable, Past Due [Line Items]
Loans Not Past Due	137,112
Not Past Due
Financing Receivable, Past Due [Line Items]
Loans Not Past Due	627,363,524	565,599,195
Not Past Due | Commercial and Industrial
Financing Receivable, Past Due [Line Items]
Loans Not Past Due	2,068,871	7,905,524
Not Past Due | Residential First Mortgage | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Loans Not Past Due	375,628,331	314,684,371
Not Past Due | Commercial and Multi-Family | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Loans Not Past Due	172,240,349	173,962,424
Not Past Due | Construction | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Loans Not Past Due	51,799,501	41,384,687
Not Past Due | Home Equity Loan | Consumer
Financing Receivable, Past Due [Line Items]
Loans Not Past Due		$ 27,662,189
Not Past Due | Home Equity and Other Consumer
Financing Receivable, Past Due [Line Items]
Loans Not Past Due	$ 25,626,472

LOANS - Summary of loans rece_2

LOANS - Summary of loans receivable by credit quality risk (Detail) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Financing Receivable, Past Due [Line Items]
Total	$ 633,063,554	$ 572,362,843
Commercial and Industrial
Financing Receivable, Past Due [Line Items]
Total	2,068,871	7,905,524
Pass
Financing Receivable, Past Due [Line Items]
Total	632,212,561	570,043,048
Pass | Commercial and Industrial
Financing Receivable, Past Due [Line Items]
Total	2,068,871	7,905,524
Special Mention
Financing Receivable, Past Due [Line Items]
Total	372,332	383,034
Substandard
Financing Receivable, Past Due [Line Items]
Total	478,661	1,936,761
Residential First Mortgage | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Total	379,776,653	319,968,234
Residential First Mortgage | Pass | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Total	378,943,899	318,868,440
Residential First Mortgage | Special Mention | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Total	372,332	383,034
Residential First Mortgage | Substandard | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Total	460,422	716,760
Commercial and Multi-Family | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Total	173,619,693	175,375,419
Commercial and Multi-Family | Pass | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Total	173,619,693	174,173,925
Commercial and Multi-Family | Substandard | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Total		1,201,494
Construction | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Total	51,799,501	41,384,687
Construction | Pass | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Total	51,799,501	41,384,687
Home Equity and Other Consumer
Financing Receivable, Past Due [Line Items]
Total	25,798,836	27,728,979
Home Equity and Other Consumer | Pass
Financing Receivable, Past Due [Line Items]
Total	25,780,597	27,710,472
Home Equity and Other Consumer | Substandard
Financing Receivable, Past Due [Line Items]
Total	$ 18,239	$ 18,507

STOCK BASED COMPENSATION - Addi

STOCK BASED COMPENSATION - Additional Information (Detail) - USD ($)		3 Months Ended		6 Months Ended
	Sep. 02, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	May 27, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share options awarded		526,119		526,119
Grant date fair value of options awarded		$ 10.45		$ 10.45
Cash dividends of common stock paid				$ 0
Number of non-vested options outstanding		523,619		523,619		523,619
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares awarded				0
Grant date fair value of shares awarded				$ 0
Number of non-vested restricted shares outstanding		226,519		226,519		226,519
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value assumption, expected life				6 years 6 months
Fair value assumption, risk-free rate of return				0.904%
Fair value assumption, volatility rate				41.10%
Fair value assumption, dividend yield				0%
2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share options awarded	526,119
Exercise price of stock options granted	$ 10.45
2021 Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for issuance							902,602
2021 Plan | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for issuance							257,887
Number of shares awarded	226,519
Service period of shares granted	5 years
Grant date fair value of shares awarded	$ 10.45
Expense of awards recognized		$ 118,000	$ 0	$ 236,000	$ 0
Number of non-vested restricted shares outstanding		226,519		226,519
Expected future compensation expense related to non-vested shares				$ 2,000,000
Weighted average period of non-vested restricted shares				4 years
2021 Plan | Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for issuance							644,718
Service period of shares granted	5 years
Expense of awards recognized		$ 115,000	$ 0	$ 230,000	$ 0
Expected future compensation expense related to non-vested shares				$ 1,900,000
Vesting period of non-vested options				4 years
Grant date fair value of options awarded	$ 4.37
Expiration period of shares granted	10 years
Number of non-vested options outstanding		526,119		526,119

STOCK BASED COMPENSATION - Summ

STOCK BASED COMPENSATION - Summary of Restricted Stock Activity (Detail) - Restricted Stock [Member]	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Number of non-vested Restricted Shares, Outstanding, Beginning balance | shares	226,519
Number of non-vested Restricted Shares, Granted | shares	0
Number of non-vested Restricted Shares, Vested | shares	0
Number of non-vested Restricted Shares, Forfeited | shares	0
Number of non-vested Restricted Shares, Outstanding, Ending balance | shares	226,519
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted Average Grant Date Fair Value, Outstanding, Beginning balance | $ / shares	$ 10.45
Weighted Average Grant Date Fair Value, Granted | $ / shares	0
Weighted Average Grant Date Fair Value, Vested | $ / shares	0
Weighted Average Grant Date Fair Value, Forfeited | $ / shares	0
Weighted Average Grant Date Fair Value, Outstanding, Ending balance | $ / shares	$ 10.45

STOCK BASED COMPENSATION - Su_2

STOCK BASED COMPENSATION - Summary of Option Activity (Detail) - USD ($)	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested, Number of Shares [Roll Forward]
Number of Stock Options, Outstanding, Beginning balance		523,619
Number of Stock Options, Granted	526,119	526,119
Number of Stock Options, Outstanding, Ending balance	523,619	523,619	523,619
Weighted Average Exercise Price
Weighted Average Exercise Price, Outstanding, Beginning balance		$ 10.45
Weighted Average Exercise Price, Granted	$ 10.45	10.45
Weighted Average Exercise Price, Outstanding, Ending balance	$ 10.45	$ 10.45	$ 10.45
Weighted Average Remaining Contractual Term
Weighted Average Remaining Contractual Term, Outstanding		5 years 10 months 24 days	6 years 6 months
Share-based Compensation Arrangement by Share-based Payment Award Options Non-vested Aggregate Intrinsic Value [Abstract]
Aggregate Intrinsic Value, Outstanding	$ 397,591	$ 397,591	$ 397,951

EMPLOYEE STOCK OWNERSHIP PLAN -

EMPLOYEE STOCK OWNERSHIP PLAN - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
ESOP expenses incurred			$ 136,615	$ 125,471
Employee Stock Ownership Plan (ESOP)
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
ESOP shares issued	515,775		515,775
ESOP percentage of shares outstanding	3.92%		3.92%
ESOP, Number of shares to be allocated	25,789		25,789
ESOP expenses incurred	$ 70,000	$ 65,000	$ 137,000	$ 125,000
ESOP, Number of shares allocated	65,789		65,789
ESOP, Number of shares unallocated	449,977		449,977
ESOP, fair value of unallocated shares	$ 5,100,000		$ 5,100,000

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Summary of outstanding firm commitments (Detail) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Fixed Rate
Commitments and Contingencies [Line Items]
Fair value, concentration of risk, commitments	$ 28,141,500	$ 3,156,250
Fixed Rate | Residential Mortgage Loans
Commitments and Contingencies [Line Items]
Fair value, concentration of risk, commitments	27,116,500	2,986,250
Fixed Rate | Commercial Real Estate
Commitments and Contingencies [Line Items]
Fair value, concentration of risk, commitments	350,000
Fixed Rate | Construction
Commitments and Contingencies [Line Items]
Fair value, concentration of risk, commitments	675,000
Fixed Rate | Home Equity Loans
Commitments and Contingencies [Line Items]
Fair value, concentration of risk, commitments		170,000
Variable Rate
Commitments and Contingencies [Line Items]
Fair value, concentration of risk, commitments	29,302,739	9,982,375
Variable Rate | Residential Mortgage Loans
Commitments and Contingencies [Line Items]
Fair value, concentration of risk, commitments	25,144,739
Variable Rate | Commercial Real Estate
Commitments and Contingencies [Line Items]
Fair value, concentration of risk, commitments	3,040,000	1,400,000
Variable Rate | Commercial and Industrial
Commitments and Contingencies [Line Items]
Fair value, concentration of risk, commitments	500,000
Variable Rate | Construction
Commitments and Contingencies [Line Items]
Fair value, concentration of risk, commitments		7,522,375
Variable Rate | Home Equity Loans
Commitments and Contingencies [Line Items]
Fair value, concentration of risk, commitments	$ 618,000	$ 1,060,000

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Commitments and Contingencies [Line Items]
Period of loans commitments			Commitments to make loans are generally made for periods of 90 days or less.
Operating leases, rent expense	$ 43,364	$ 48,012	$ 87,179	$ 73,763
Home Equity and Other
Commitments and Contingencies [Line Items]
Undisbursed loan funds	47,745,830		47,745,830		$ 48,028,579
Business Line of Credit
Commitments and Contingencies [Line Items]
Undisbursed loan funds	$ 8,176,073		$ 8,176,073		$ 7,938,827
Minimum
Commitments and Contingencies [Line Items]
Interest rate	3.50%		3.50%
Maturity term			10 years
Maximum
Commitments and Contingencies [Line Items]
Interest rate	6%		6%
Maturity term			30 years

FAIR VALUE - Summary of assets

FAIR VALUE - Summary of assets measured at fair value on a recurring basis (Detail) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale	$ 97,507,693	$ 41,838,798
MBSs - residential
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale	41,383,955	21,760,245
MBSs - commercial
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale	23,076,428	9,699,205
Fair Value, Recurring Basis | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale	9,870,432
Fair Value, Recurring Basis | Significant Other Observable Inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale	87,637,261	41,838,798
Fair Value, Recurring Basis | U.S Treasury Bills | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale	9,870,432
Fair Value, Recurring Basis | U.S. Government and Agency Obligations | Significant Other Observable Inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale	5,567,109	2,981,730
Fair Value, Recurring Basis | Corporate Bonds | Significant Other Observable Inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale	17,609,769	7,397,618
Fair Value, Recurring Basis | MBSs - residential | Significant Other Observable Inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale	41,383,955	21,760,245
Fair Value, Recurring Basis | MBSs - commercial | Significant Other Observable Inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale	23,076,428	9,699,205
Fair Value, Recurring Basis | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale	97,507,693	41,838,798
Fair Value, Recurring Basis | Carrying Value | U.S Treasury Bills
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale	9,870,432
Fair Value, Recurring Basis | Carrying Value | U.S. Government and Agency Obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale	5,567,109	2,981,730
Fair Value, Recurring Basis | Carrying Value | Corporate Bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale	17,609,769	7,397,618
Fair Value, Recurring Basis | Carrying Value | MBSs - residential
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale	41,383,955	21,760,245
Fair Value, Recurring Basis | Carrying Value | MBSs - commercial
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale	$ 23,076,428	$ 9,699,205

FAIR VALUE - Additional Informa

FAIR VALUE - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2022 USD ($)
Fair Value Disclosures [Abstract]
Fair value assets and liabilities transfer amount	$ 0

FAIR VALUE - Summary of carryin

FAIR VALUE - Summary of carrying amounts and estimated fair values of financial instruments not Measured at Fair Value (Detail) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Financial instruments - assets
Cash and due from banks	$ 7,604,000	$ 105,069,000
Investment securities held-to-maturity	79,858,396	74,081,059
Loans and loans held for sale	595,775,000	569,845,000
Financial instruments - liabilities
Certificates of deposit	369,394,000	365,452,000
Borrowings	114,670,000	86,657,000
Fair Value Measurement Placement (Level 1)
Financial instruments - assets
Cash and due from banks	7,604,000	105,069,000
Fair Value Measurement Placement (Level 2)
Financial instruments - assets
Investment securities held-to-maturity	79,858,000	74,081,000
Financial instruments - liabilities
Certificates of deposit	369,394,000	365,452,000
Borrowings	114,670,000	86,657,000
Fair Value Measurement Placement (Level 3)
Financial instruments - assets
Loans and loans held for sale	595,775,000	569,845,000
Carrying Value
Financial instruments - assets
Cash and due from banks	7,604,000	105,069,000
Investment securities held-to-maturity	86,432,000	74,053,000
Loans and loans held for sale	631,170,000	571,363,000
Financial instruments - liabilities
Certificates of deposit	367,866,000	366,396,000
Borrowings	$ 115,279,000	$ 85,052,000

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS - Summary of accumulated other comprehensive income (loss) (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ 145,025,932	$ 143,078,150	$ 147,576,211	$ 128,468,076
Comprehensive (loss) income	(2,458,737)	1,479,317	(3,416,239)	4,528,556
Ending balance	140,460,794	144,622,102	140,460,794	144,622,102
Unrealized Gain and Losses on Available for Sale Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(2,689,802)	112,120	(289,814)	100,569
Amounts reclassified	(4,142,333)	9,212	(6,542,321)	20,763
Comprehensive (loss) income	(4,142,333)	9,212	(6,542,321)	20,763
Ending balance	(6,832,135)	121,332	(6,832,135)	121,332
Benefit Plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	58,747	(342,201)	17,158	(373,582)
Amounts reclassified	41,589	31,381	83,178	62,762
Comprehensive (loss) income	41,589	31,381	83,178	62,762
Ending balance	100,336	(310,820)	100,336	(310,820)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(2,631,055)	(230,081)	(272,656)	(273,013)
Amounts reclassified	(4,100,744)	40,593	(6,459,143)	83,525
Comprehensive (loss) income	(4,100,744)	40,593	(6,459,143)	83,525
Ending balance	$ (6,731,799)	$ (189,488)	$ (6,731,799)	$ (189,488)