DERIVATIVES	6 Months Ended
Jun. 30, 2025
Derivatives [Abstract]
Derivatives	NOTE 5 – DERIVATIVES The Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. The Company’s derivative financial instruments are used to manage differences in the amount, timing, and duration of the Company’s known or expected cash receipts and its known or expected cash payments principally related to the Company’s subordinated debt. Cash Flow Hedges of Interest Rate Risk Interest rate swaps with notional amounts totaling $ 30 million at June 30, 2025 were designed as a cash flow hedge for subordinated debt. Under the swap arrangement, the Company will pay a fixed interest rate of 2.50 % and receive a variable interest rate based on three-month CME Term SOFR (secured overnight financing rate). For derivatives designated and that qualify as cash flow hedges of interest rate risk, the gain or loss on the derivative is recorded in accumulated other comprehensive income (“AOCI”) and subsequently reclassified into interest expense in the same period(s) during which the hedged transaction affects earnings. Amounts reported in accumulated other comprehensive income related to derivatives will be reclassified to interest expense as interest payments are made on the Company’s variable-rate subordinated debt. The following table reflects the cash flow hedges included in the consolidated statements of financial condition Statement of Financial Notional Fair Weighted Average (Dollars in Thousands) Condition Location Amount Value Maturity (Years) June 30, 2025 Interest rate swaps related to subordinated debt Other Assets $ 30,000 $ 4,130 5.0 December 31, 2024 Interest rate swaps related to subordinated debt Other Assets $ 30,000 $ 5,319 5.5 The following table presents the change in net gains (losses) recorded in AOCI and the consolidated statements of income related to the cash flow derivative instruments (interest rate swaps related to subordinated debt). Change in Gain Amount of Gain (Loss) Recognized (Loss) Reclassified (Dollars in Thousands) Category in AOCI from AOCI to Income Three months ended June 30, 2025 Interest expense $ (363) $ 299 Three months ended June 30, 2024 Interest expense (37) 376 Six months ended June 30, 2025 Interest expense $ (888) $ 596 Six months ended June 30, 2024 Interest expense 289 751 The Company estimates there will be approximately $ 1.0 million reclassified as a decrease to interest expense within the next 12 months. The Company had a collateral liability of $ 4.3 million and $ 5.5 million at June 30, 2025 and December 31, 2024, respectively.

NOTE 5 – DERIVATIVES

The Company enters into derivative financial instruments to manage exposures

that arise from business activities that result in the

receipt or payment of future known and uncertain cash amounts, the value of

which are determined by interest rates.

The Company’s

derivative financial instruments are used to manage differences in

the amount, timing, and duration of the Company’s

known or

expected cash receipts and its known or expected cash payments principally

related to the Company’s subordinated

debt.

Cash Flow Hedges of Interest Rate Risk

Interest rate swaps with notional amounts totaling $

million at June 30, 2025 were designed as a cash flow hedge for subordinated

debt.

Under the swap arrangement, the Company will pay a fixed interest rate of

2.50

% and receive a variable interest rate based on

three-month CME Term

SOFR (secured overnight financing rate).

For derivatives designated and that qualify as cash flow hedges of interest rate

risk, the gain or loss on the derivative is recorded in

accumulated other comprehensive income (“AOCI”) and subsequently

reclassified into interest expense in the same period(s) during

which the hedged transaction affects earnings. Amounts reported

in accumulated other comprehensive income related to derivatives

will be reclassified to interest expense as interest payments are made on the

Company’s variable-rate subordinated

debt.

The following table reflects the cash flow hedges included in the consolidated

statements of financial condition

Statement of Financial

Notional

Fair

Weighted Average

(Dollars in Thousands)

Condition Location

Amount

Value

Maturity (Years)

June 30, 2025

Interest rate swaps related to subordinated debt

Other Assets

30,000

4,130

5.0

December 31, 2024

Interest rate swaps related to subordinated debt

Other Assets

30,000

5,319

5.5

Change in Gain

Amount of Gain

(Loss) Recognized

(Loss) Reclassified

(Dollars in Thousands)