Investment and Mortgage-Backed Securities, Held to Maturity (Tables)

3 Months Ended

Mar. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Debt Securities, Held-to-Maturity

The Company’s investments HTM portfolio is recorded at amortized cost. The amortized cost, gross unrealized gains, gross unrealized losses, and fair values of investments HTM at the date indicated were as follows:

	March 31, 2023
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
US Treasury Bonds	$	34,600,540	$	—	$	486,165	$	34,114,375
FHLB Bond	1,000,000		—		4,852		995,148
Student Loan Pools	18,494,187		100,836		67,488		18,527,535
SBA Bonds	15,448,896		716,125		—		16,165,021
Taxable Municipal Bonds	954,460		—		42,860		911,600
MBS	109,680,425		47,045		4,588,424		105,139,046
Total Held To Maturity	$	180,178,508	$	864,006	$	5,189,789	$	175,852,725
	December 31, 2022
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
US Treasury Bonds	$	34,511,849	$	—	$	682,198	$	33,829,651
FHLB Bond	1,000,000		—		1,360		998,640
Student Loan Pools	16,387,997		88,489		59,090		16,417,396
SBA Bonds	3,521,293		162,235		—		3,683,528
Taxable Municipal Bonds	951,864		—		60,134		891,730
MBS	111,064,613		29,194		5,451,179		105,642,628
Total HTM	$	167,437,616	$	279,918	$	6,253,961	$	161,463,573

The following tables show gross unrealized losses, fair value, and length of time that individual investments HTM have been in a continuous unrealized loss position at the dates indicated.

	March 31, 2023
	Less than 12 Months				12 Months or More				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
US Treasury Bonds	$	34,114,375	$	486,165	$	—	$	—	$	34,114,375	$	486,165
FHLB Bond	995,148		4,852		—		—		995,148		4,852
Student Loan Pools	4,790,881		67,488		—		—		4,790,881		67,488
Taxable Municipal Bonds	911,600		42,860		—		—		911,600		42,860
MBS	72,819,297		2,070,120		13,895,073		2,518,304		86,714,370		4,588,424
	$	113,631,301	$	2,671,485	$	13,895,073	$	2,518,304	$	127,526,374	$	5,189,789
	December 31, 2022
	Less than 12 Months				12 Months or More				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
US Treasury Bonds	$	33,829,651	$	682,198	$	—	$	—	$	33,829,651	$	682,198
FHLB Bond	998,640		1,360		—		—		998,640		1,360
Student Loan Pools	6,520,050		59,090		—		—		6,520,050		59,090
Taxable Municipal Bonds	891,730		60,134		—		—		891,730		60,134
MBS	88,351,096		3,145,166		9,334,438		2,306,013		97,685,534		5,451,179
	$	130,591,167	$	3,947,948	$	9,334,438	$	2,306,013	$	139,925,605	$	6,253,961