| Loans and Allowance for Credit Losses |
Note 5: Loans and Allowance for Credit Losses Classes of loans at June 30, 2025 and December 31, 2024 include: | | | | | | | | | June 30, | | December 31, | | | 2025 | | 2024 | Mortgage loans on real estate: | | | | | | | Residential 1-4 family | | $ | 66,000 | | $ | 65,721 | Commercial | | | 28,587 | | | 21,412 | Construction and land development | | | 1,358 | | | 1,637 | Total mortgage loans on real estate | | | 95,945 | | | 88,770 | Commercial loans | | | 6,145 | | | 4,656 | Consumer | | | 4,156 | | | 3,479 | | | | 106,246 | | | 96,905 | Plus: | | | | | | | Deferred Loan Costs | | | 99 | | | 69 | Less: | | | | | | | Allowance for credit losses | | | 813 | | | 700 | Net loans | | $ | 105,532 | | $ | 96,274 |
The Company participates in the U.S. Department of Agriculture’s Rural Development Section 502 Guaranteed Loan Program. This program assists approved lenders in providing low- and moderate-income households the opportunity to own adequate, modest, decent, safe and sanitary dwellings as their primary residence in eligible rural areas. Eligible applicants may, purchase, build, rehabilitate, or relocate a dwelling in an eligible rural area with 100% financing. The program provides a 90% loan note guarantee to approved lenders in order to reduce the risk of extending 100% loans to eligible rural homebuyers. As of June 30, 2025 and December 31, 2024, the company held $2,497 and $2,572 respectively, of USDA Guaranteed loans in the Residential 1-4 Family portfolio of loans. The following tables present the balance in the allowance for credit losses based on portfolio segment for the periods presented: | | | | | | | | | | | | | | | For the Three Months Ended | | | June 30, 2025 | | | Mortgage Loans on Real Estate | | | | | | | | | | | | Construction | | | | | | Residential | | | | | and Land | | | | | | 1-4 Family | | Commercial | | Development | | Commercial | Allowance for credit losses: | | | | | | | | | | | | | Balance, beginning of period | | $ | 266 | | $ | 383 | | $ | 11 | | $ | 66 | Provision charged to expense | | | 2 | | | 43 | | | (1) | | | 22 | Losses charged off | | | — | | | — | | | — | | | — | Recoveries | | | — | | | — | | | — | | | — | Balance, end of period | | $ | 268 | | $ | 426 | | $ | 10 | | $ | 88 | | | | | | | | | | | | | | Allowance for credit losses for unfunded loan commitments | | | | | | | | | | | | | Balance, beginning of period | | $ | 4 | | $ | 21 | | $ | — | | $ | 3 | Provision charged to expense | | | (1) | | | (16) | | | 6 | | | — | Losses charged off | | | — | | | — | | | — | | | — | Recoveries | | | — | | | — | | | — | | | — | Balance, end of period | | $ | 3 | | $ | 5 | | $ | 6 | | $ | 3 |
| | | | | | | | | For the Three Months Ended | | | June 30, 2025 (Continued) | | | Consumer | | Total | Allowance for credit losses: | | | | | | | Balance, beginning of period | | $ | 19 | | $ | 745 | Provision charged to expense | | | 2 | | | 68 | Losses charged off | | | — | | | — | Recoveries | | | — | | | — | Balance, end of year | | $ | 21 | | $ | 813 | | | | | | | | Allowance for credit losses for unfunded loan commitments | | | | | | | Balance, beginning of year | | $ | — | | $ | 28 | Provision charged to expense | | | — | | | (11) | Losses charged off | | | — | | | — | Recoveries | | | — | | | — | Balance, end of year | | $ | — | | $ | 17 |
| | | | | | | | | | | | | | | For the Three Months Ended | | | June 30, 2024 | | | Mortgage Loans on Real Estate | | | | | | | | | | | | Construction | | | | | | Residential | | | | | and Land | | | | | | 1-4 Family | | Commercial | | Development | | Commercial | Allowance for credit losses: | | | | | | | | | | | | | Balance, beginning of period | | $ | 256 | | $ | 348 | | $ | 11 | | $ | 75 | Provision charged to expense | | | 2 | | | (1) | | | (3) | | | (2) | Losses charged off | | | — | | | — | | | — | | | (11) | Recoveries | | | — | | | — | | | — | | | — | Balance, end of year | | $ | 258 | | $ | 347 | | $ | 8 | | $ | 62 | | | | | | | | | | | | | | Allowance for credit losses for unfunded loan commitments | | | | | | | | | | | | | Balance, beginning of year | | $ | 4 | | $ | 7 | | $ | 2 | | $ | 4 | Provision charged to expense | | | — | | | 1 | | | 9 | | | (1) | Losses charged off | | | — | | | — | | | — | | | — | Recoveries | | | — | | | — | | | — | | | — | Balance, end of year | | $ | 4 | | $ | 8 | | $ | 11 | | $ | 3 |
| | | | | | | | | For the Three Months Ended | | | June 30, 2024 (Continued) | | | Consumer | | Total | Allowance for credit losses: | | | | | | | Balance, beginning of period | | $ | 16 | | $ | 706 | Provision charged to expense | | | 2 | | | (2) | Losses charged off | | | — | | | (11) | Recoveries | | | — | | | — | Balance, end of year | | $ | 18 | | $ | 693 | | | | | | | | Allowance for credit losses for unfunded loan commitments | | | | | | | Balance, beginning of year | | $ | — | | $ | 17 | Provision charged to expense | | | — | | | 9 | Losses charged off | | | — | | | — | Recoveries | | | — | | | — | Balance, end of year | | $ | — | | $ | 26 | | | | | | | |
| | | | | | | | | | | | | | | Six Months Ended | | | June 30, 2025 | | | Mortgage Loans on Real Estate | | | | | | | | | | | | Construction | | | | | | Residential | | | | | and Land | | | | | | 1-4 Family | | Commercial | | Development | | Commercial | Allowance for credit losses: | | | | | | | | | | | | | Balance, beginning of year | | $ | 271 | | $ | 339 | | $ | 13 | | $ | 60 | Provision charged to expense | | | (3) | | | 87 | | | (3) | | | 28 | Losses charged off | | | — | | | — | | | — | | | — | Recoveries | | | — | | | — | | | — | | | — | Balance, end of year | | $ | 268 | | $ | 426 | | $ | 10 | | $ | 88 | | | | | | | | | | | | | | Allowance for credit losses for unfunded loan commitments | | | | | | | | | | | | | Balance, beginning of year | | $ | 2 | | $ | 7 | | $ | 6 | | $ | 2 | Provision charged to expense | | | 1 | | | (2) | | | — | | | 1 | Losses charged off | | | — | | | — | | | — | | | — | Recoveries | | | — | | | — | | | — | | | — | Balance, end of year | | $ | 3 | | $ | 5 | | $ | 6 | | $ | 3 |
| | | | | | | | | Six Months Ended | | | June 30, 2025 (Continued) | | | Consumer | | Total | Allowance for credit losses: | | | | | | | Balance, beginning of year | | $ | 17 | | $ | 700 | Provision charged to expense | | | 4 | | | 113 | Losses charged off | | | — | | | — | Recoveries | | | — | | | — | Balance, end of year | | $ | 21 | | $ | 813 | | | | | | | | Allowance for credit losses for unfunded loan commitments | | | | | | | Balance, beginning of year | | $ | — | | $ | 17 | Provision charged to expense | | | — | | | — | Losses charged off | | | — | | | — | Recoveries | | | — | | | — | Balance, end of year | | $ | — | | $ | 17 |
| | | | | | | | | | | | | | | For the Six Months Ended | | | June 30, 2024 | | | Mortgage Loans on Real Estate | | | | | | | | | | | | Construction | | | | | | Residential | | | | | and Land | | | | | | 1-4 Family | | Commercial | | Development | | Commercial | Allowance for credit losses: | | | | | | | | | | | | | Balance, beginning of year | | $ | 247 | | $ | 332 | | $ | 15 | | $ | 65 | Provision charged to expense | | | 11 | | | 15 | | | (7) | | | 8 | Losses charged off | | | — | | | — | | | — | | | (11) | Recoveries | | | — | | | — | | | — | | | — | Balance, end of year | | $ | 258 | | $ | 347 | | $ | 8 | | $ | 62 | | | | | | | | | | | | | | Allowance for credit losses: | | | | | | | | | | | | | Balance, beginning of year | | $ | 2 | | $ | 10 | | $ | 8 | | $ | 2 | Provision charged to expense | | | 2 | | | (2) | | | 3 | | | 1 | Losses charged off | | | — | | | — | | | — | | | — | Recoveries | | | — | | | — | | | — | | | — | Balance, end of year | | $ | 4 | | $ | 8 | | $ | 11 | | $ | 3 |
| | | | | | | | | For the Six Months Ended | | | June 30, 2024 (Continued) | | | Consumer | | Total | Allowance for credit losses: | | | | | | | Balance, beginning of year | | $ | 16 | | $ | 675 | Provision charged to expense | | | 2 | | | 29 | Losses charged off | | | — | | | (11) | Recoveries | | | — | | | — | Balance, end of year | | $ | 18 | | $ | 693 | | | | | | | | Allowance for credit losses for unfunded loan commitments: | | | | | | | Balance, beginning of year | | $ | — | | $ | 22 | Provision charged to expense | | | — | | | 4 | Losses charged off | | | — | | | — | Recoveries | | | — | | | — | Balance, end of year | | $ | — | | $ | 26 | | | | | | | |
| | | | | | | | | | | | | The provision for credit losses is determined by the Company as the amount that is added to ACL accounts to bring the ACL to that, in management's judgement, is necessary to absorb expected credit losses over the lives of the respective financial instruments. The following table presents the components of the provision for credit losses: | | | | | | | | | | | | | | | | Three months ended June 30, | | Six months ended June 30, | | | 2025 | | 2024 | | 2025 | | 2024 | Provision for credit losses: | | | | | | | | | | | | | Loans | | $ | 68 | | $ | (2) | | $ | 113 | | $ | 29 | Unfunded loan commitments | | | (11) | | | 9 | | | - | | | 4 | Total | | $ | 57 | | $ | 7 | | $ | 113 | | $ | 33 |
Management’s opinion as to the ultimate collectability of loans is subject to estimates regarding future cash flows from operations and the value of property, real and personal, pledged as collateral. These estimates are affected by changing economic conditions and the economic prospects of borrowers. Credit Quality Indicators The Company 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. All commercial and land development loans are graded at inception of the loan. Subsequently, analyses are performed on an annual basis and grade changes are made, as necessary. Interim grade reviews may take place if circumstances of the borrower warrant a timelier review. The Company utilizes an internal asset classification system as a means of reporting problem and potential problem loans. The Company uses the following definitions for risk ratings: Pass — Loans classified as pass are well protected by the ability of the borrower to pay or by the value of the asset or underlying collateral. Special Mention — Loans classified as watch represent loans with the minimum level of acceptable credit risk and servicing requirements and the borrower has the capacity to perform according to the terms and repayment is expected. However, one or more elements of uncertainty exist. 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. Loss — Loans classified as loss are the portion of the loan that is considered uncollectible so that its continuance as an asset is not warranted. The amount of the loss determined will be charged-off. The Company evaluates the loan risk grading system definitions and allowance for credit loss methodology on an ongoing basis. No significant changes were made to either during the six months ended June 30, 2025 or during the year ended December 31, 2024. The following tables represents loans, as of June 30, 2025 and December 31, 2024, by grading category and year in which the loans were originated: | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2025 | | | | | | | | | | | | | | | | | | | | | Revolving | | | | | | | | | | | | | | | | | | | | | | | | Lines of | | | | | | 2025 | | 2024 | | 2023 | | 2022 | | 2021 | | Prior | | Credit | | Total | Pass | | | | | | | | | | | | | | | | | | | | | | | | | Residential 1-4 Family | | $ | 2,881 | | $ | 8,068 | | $ | 7,188 | | $ | 8,661 | | $ | 7,277 | | $ | 30,887 | | $ | 818 | | $ | 65,780 | Commercial Real Estate | | | 8,387 | | | 5,101 | | | 3,121 | | | 3,925 | | | 3,139 | | | 3,801 | | | — | | | 27,474 | Construction and Land Development | | | 169 | | | 231 | | | 798 | | | — | | | — | | | 160 | | | — | | | 1,358 | Commercial | | | 1,665 | | | 1,031 | | | 2,602 | | | 108 | | | 98 | | | 72 | | | 569 | | | 6,145 | Consumer | | | 1,523 | | | 1,243 | | | 727 | | | 224 | | | 297 | | | 142 | | | — | | | 4,156 | Total Pass | | $ | 14,625 | | $ | 15,674 | | $ | 14,436 | | $ | 12,918 | | $ | 10,811 | | $ | 35,062 | | $ | 1,387 | | $ | 104,913 | Special Mention | | | | | | | | | | | | | | | | | | | | | | | | | Residential 1-4 Family | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | Commercial Real Estate | | | — | | | — | | | 626 | | | — | | | — | | | — | | | — | | | 626 | Construction and Land Development | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Commercial | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Consumer | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Total Special Mention | | $ | — | | $ | — | | $ | 626 | | $ | — | | $ | — | | $ | — | | $ | — | | $ | 626 | Substandard | | | | | | | | | | | | | | | | | | | | | | | | | Residential 1-4 Family | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | 220 | | $ | — | | $ | 220 | Commercial Real Estate | | | — | | | — | | | — | | | — | | | — | | | 487 | | | — | | | 487 | Construction and Land Development | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Commercial | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Consumer | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Total Substandard | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | 707 | | $ | — | | $ | 707 | Total | | $ | 14,625 | | $ | 15,674 | | $ | 15,062 | | $ | 12,918 | | $ | 10,811 | | $ | 35,769 | | $ | 1,387 | | $ | 106,246 | | | | | | | | | | | | | | | | | | | | | | | | | | Current period gross charge-offs: | | | | | | | | | | | | | | | | | | | | | | | | | Residential 1-4 Family | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | Commercial Real Estate | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Construction and Land Development | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Commercial | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Consumer | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | December 31, 2024 | | | | | | | | | | | | | | | | | | | | | Revolving | | | | | | | | | | | | | | | | | | | | | | | | Lines of | | | | | | 2024 | | 2023 | | 2022 | | 2021 | | 2020 | | Prior | | Credit | | Total | Pass | | | | | | | | | | | | | | | | | | | | | | | | | Residential 1-4 Family | | $ | 8,124 | | $ | 7,509 | | $ | 8,960 | | $ | 7,554 | | $ | 14,686 | | $ | 17,705 | | $ | 835 | | $ | 65,373 | Commercial Real Estate | | | 5,344 | | | 3,339 | | | 4,034 | | | 3,440 | | | 1,285 | | | 2,837 | | | — | | | 20,279 | Construction and Land Development | | | 625 | | | 843 | | | — | | | — | | | 46 | | | 123 | | | — | | | 1,637 | Commercial | | | 1,086 | | | 2,742 | | | 180 | | | 215 | | | 6 | | | 93 | | | 334 | | | 4,656 | Consumer | | | 1,659 | | | 945 | | | 322 | | | 373 | | | 172 | | | 8 | | | — | | | 3,479 | Total Pass | | $ | 16,838 | | $ | 15,378 | | $ | 13,496 | | $ | 11,582 | | $ | 16,195 | | $ | 20,766 | | $ | 1,169 | | $ | 95,424 | Special Mention | | | | | | | | | | | | | | | | | | | | | | | | | Residential 1-4 Family | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | Commercial Real Estate | | | — | | | 637 | | | — | | | — | | | — | | | — | | | — | | | 637 | Construction and Land Development | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Commercial | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Consumer | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Total Special Mention | | $ | — | | $ | 637 | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | 637 | Substandard | | | | | | | | | | | | | | | | | | | | | | | | | Residential 1-4 Family | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | 348 | | $ | — | | $ | 348 | Commercial Real Estate | | | — | | | — | | | — | | | — | | | — | | | 496 | | | — | | | 496 | Construction and Land Development | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Commercial | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Consumer | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Total Substandard | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | 844 | | $ | — | | $ | 844 | Total | | $ | 16,838 | | $ | 16,015 | | $ | 13,496 | | $ | 11,582 | | $ | 16,195 | | $ | 21,610 | | $ | 1,169 | | $ | 96,905 | | | | | | | | | | | | | | | | | | | | | | | | | | Current period gross charge-offs: | | | | | | | | | | | | | | | | | | | | | | | | | Residential 1-4 Family | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | Commercial Real Estate | | | — | | | — | | | — | | | — | | | — | | | (179) | | | — | | | (179) | Construction and Land Development | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Commercial | | | — | | | (13) | | | — | | | — | | | — | | | — | | | — | | | (13) | Consumer | | | — | | | (2) | | | — | | | — | | | — | | | — | | | — | | | (2) | | | $ | — | | $ | (15) | | $ | — | | $ | — | | $ | — | | $ | (179) | | $ | — | | $ | (194) |
The following tables present the Company’s loan portfolio aging analysis as of June 30, 2025 and December 31, 2024: | | | | | | | | | | | | | | | | | | | | June 30, 2025 | | | | | | | | | | 2025 | | | | | Total | | | | 30-59 Days | | 60-89 Days | | 90 Days and | | Total Past | | | | | Loans | | | | Past Due | | Past Due | | Greater | | Due | | Current | | Receivable | | Mortgage loans on real estate: | | | | | | | | | | | | | | | | | | | | Residential 1-4 family | | $ | 639 | | $ | 171 | | $ | 31 | | $ | 841 | | $ | 65,159 | | $ | 66,000 | | Commercial | | | 247 | | | — | | | — | | | 247 | | | 28,340 | | | 28,587 | | Construction and land development | | | — | | | — | | | — | | | — | | | 1,358 | | | 1,358 | | | | | | | | | | | | | | | | | | | | | | Total real estate loans | | | 886 | | | 171 | | | 31 | | | 1,088 | | | 94,857 | | | 95,945 | | | | | | | | | | | | | | | | | | | | | | Commercial | | | — | | | — | | | — | | | — | | | 6,145 | | | 6,145 | | Consumer | | | 38 | | | 16 | | | — | | | 54 | | | 4,102 | | | 4,156 | | | | | | | | | | | | | | | | | | | | | | Total | | $ | 924 | | $ | 187 | | $ | 31 | | $ | 1,142 | | $ | 105,104 | | $ | 106,246 | |
| | | | | | | | | | | | | | | | | | | | December 31, 2024 | | | | | | | | | | | 2024 | | | | | Total | | | | 30-59 Days | | 60-89 Days | | 90 Days and | | Total Past | | | | | Loans | | | | Past Due | | Past Due | | Greater | | Due | | Current | | Receivable | | Mortgage loans on real estate: | | | | | | | | | | | | | | | | | | | | Residential 1-4 family | | $ | 445 | | $ | 219 | | $ | 317 | | $ | 981 | | $ | 64,740 | | $ | 65,721 | | Commercial | | | — | | | — | | | — | | | — | | | 21,412 | | | 21,412 | | Construction and land development | | | — | | | — | | | — | | | — | | | 1,637 | | | 1,637 | | | | | | | | | | | | | | | | | | | | | | Total real estate loans | | | 445 | | | 219 | | | 317 | | | 981 | | | 87,789 | | | 88,770 | | | | | | | | | | | | | | | | | | | | | | Commercial | | | — | | | — | | | — | | | — | | | 4,656 | | | 4,656 | | Consumer | | | 46 | | | — | | | — | | | 46 | | | 3,433 | | | 3,479 | | | | | | | | | | | | | | | | | | | | | | Total | | $ | 491 | | $ | 219 | | $ | 317 | | $ | 1,027 | | $ | 95,878 | | $ | 96,905 | |
During the six months ended June 30, 2025, there was no accrued interest that was written off, related to loans placed in nonaccrual status during the year. During the year ended December 31, 2024 accrued interest that was written off, related to loans placed in nonaccrual status during the year, amounted to $5, all related to Residential Real Estate loans. Collateral-Dependent Loans At June 30, 2025, the Company held loans that were individually evaluated for impairment due to financial difficulties experienced by the borrower and for which the repayment, on the basis of our assessment, is expected to be provided substantially through the sale or operations of the collateral. The ACL for these collateral dependent loans is primarily based on the fair value of the underlying collateral at the reporting date. The following describes the types of collateral that secure collateral dependent loans: | ● | One-to-four family mortgages are primarily secured by first liens on residential real estate. |
| ● | Commercial real estate loans are primarily secured by office and industrial buildings. |
| ● | Commercial and industrial loans are primarily secured by accounts receivables, inventory, and equipment. |
| ● | Home equity loans are primarily secured by second liens on residential real estate. |
| ● | Consumer loans are primarily secured by titles on automobiles and recreational vehicles. |
The following table presents information regarding collateral dependent loans as of June 30, 2025 and December 31, 2024: | | | | | | | | | | | | | | | June 30, 2025 | | December 31, 2024 | | | Loan | | Specific | | Loan | | Specific | | | Balance | | Allowance | | Balance | | Allowance | Mortgage loans on real estate: | | | | | | | | | | | | | Residential 1-4 family | | | 220 | | | — | | $ | 348 | | $ | — | Commercial | | | 487 | | | — | | | 496 | | | — | Construction and land development | | | — | | | — | | | — | | | — | | | | | | | | | | | | | | Total real estate loans | | | 707 | | | — | | | 844 | | | — | | | | | | | | | | | | | | Commercial | | | — | | | — | | | — | | | — | Consumer | | | — | | | — | | | — | | | — | | | | | | | | | | | | | | Total | | $ | 707 | | $ | — | | $ | 844 | | $ | — |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total | | Interest | | Amortized | | | | Nonaccrual | | Nonaccrual | | | | | Nonaccrual | | Income | | Cost Basis | | | | Loans with No | | Loans with an | | Total | | Loans at | | Recognized on | | of Loans 90+ | | | | Allowance for | | Allowance for | | Nonaccrual | | Beginning of | | Nonaccrual | | Days Past Due | | | | Credit Losses | | Credit Losses | | Loans | | Year | | Loans | | Not on Nonaccrual | | June 30, 2025 | | | | | | | | | | | | | | | | | | | | Residential - First Mortgage | | | 220 | | | — | | | 220 | | | 348 | | | — | | | — | | Commercial real estate | | | — | | | — | | | — | | | — | | | — | | | — | | Construction and land development | | | — | | | — | | | — | | | — | | | — | | | — | | Commercial and Industrial | | | — | | | — | | | — | | | — | | | — | | | — | | Consumer | | | — | | | — | | | — | | | — | | | — | | | — | | | | | | | | | | | | | | | | | | | | | | Total | | $ | 220 | | $ | — | | $ | 220 | | $ | 348 | | $ | — | | $ | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total | | Interest | | Amortized | | | | Nonaccrual | | Nonaccrual | | | | | Nonaccrual | | Income | | Cost Basis | | | | Loans with No | | Loans with an | | Total | | Loans at | | Recognized on | | of Loans 90+ | | | | Allowance for | | Allowance for | | Nonaccrual | | Beginning of | | Nonaccrual | | Days Past Due | | | | Credit Losses | | Credit Losses | | Loans | | Year | | Loans | | Not on Nonaccrual | | December 31, 2024 | | | | | | | | | | | | | | | | | | | | Residential - First Mortgage | | | 348 | | | — | | | 348 | | | 177 | | | — | | | — | | Commercial real estate | | | — | | | — | | | — | | | 156 | | | — | | | — | | Construction and land development | | | — | | | — | | | — | | | — | | | — | | | — | | Commercial and Industrial | | | — | | | — | | | — | | | — | | | — | | | — | | Consumer | | | — | | | — | | | — | | | — | | | — | | | — | | | | | | | | | | | | | | | | | | | | | | Total | | $ | 348 | | $ | — | | $ | 348 | | $ | 333 | | $ | — | | $ | — | |
There were no new loans modified due to borrowers experiencing financial difficulties during the six months ended June 30, 2025 or 2024.
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