| Assets | December 31, 2023 | December 31, 2022 |
|---|
Statements of Financial Condition
|
Cash and amounts due from depository institutions
|
$553,165
|
$590,376 |
|
Interest-bearing deposits in other banks
|
$5,177,187
|
$9,297,358 |
|
Total cash and cash equivalents
|
$5,730,352
|
$9,887,734 |
|
Securities available for sale
|
$4,238,882
|
$5,228,927 |
|
Investment securities , net
|
$4,588,681
|
$4,872,954 |
|
Mortgage-backed securities, net
|
$174,480
|
$218,367 |
|
Loans receivable, net
|
$115,649,220
|
$103,065,500 |
|
Real estate owned, net
|
$0
|
$0 |
|
Premises and Equipment, net
|
$934,069
|
$997,449 |
|
Federal Home Loan Bank of New York Stock
|
$444,600
|
$208,700 |
|
Other Assets
|
$4,712,239
|
$4,464,436 |
|
Total Assets
|
$136,472,523
|
$128,944,067 |
|
Liabilities and Retained Earnings
|
|
Liabilities
|
|
Deposits
|
$105,867,715
|
$103,704,052 |
|
Borrowed money
|
$7,000,000
|
$2,000,000 |
|
Other liabilities
|
$2,527,177
|
$2,555,220 |
|
Total Liabilities
|
$115,394,892
|
$108,259,272 |
|
Retained earnings - substantially restricted
|
$20,767,994
|
$20,558,711 |
|
Accumulated other comprehensive income
|
$309,637
|
$126,084 |
|
Total retained earnings
|
$21,077,631
|
$20,684,795 |
|
Total liabilities and retained earnings
|
$136,472,523
|
$128,944,067 |
|