v3.25.2
Investments
6 Months Ended
Jun. 30, 2025
Investments  
Investments

Note 5: Investments

Joint Venture

The Company has an ownership interest in a joint venture that owns real estate. See the Company’s annual report on Form 10-K for the year ended December 31, 2024 for more information on the joint venture. The Company’s ownership percentage in the joint venture was 73% as of June 30, 2025 and December 31, 2024.

As of June 30, 2025 and December 31, 2024, the value of the Company’s investment in the joint venture was $873 thousand. Management’s impairment analysis of the investment as of June 30, 2025, has determined that the investment is not impaired.

Certificates of Deposit

The Company held an investment in certificates of deposit with an original maturity greater than three months on June 30, 2025.

Details of these certificates as of June 30, 2025, are as follows (dollars in thousands):

As of June 30, 2025

Certificate

Open Date

Certificate Amount

Interest Rate

Maturity Date

CD 1

6/20/2025

$

1,500

4.38%

9/22/2025

Other Investments

In June 2022, the Company entered into two indexed annuity insurance contracts whereby an insurance company guarantees a fixed rate of return in exchange for holding a deposit from the Company for the contracted period of ten years.

Additional information related to these investments is as follows (dollars in thousands):

Income for the three months ended

Income for the six months ended

    

Investment Type

    

Maturity Date

    

Original Cost

    

Net Carrying Amount

    

June 30, 2025

    

June 30, 2024

    

June 30, 2025

    

June 30, 2024

Fixed annuity

June 2032

$

1,000

$

1,096

$

13

$

26

$

14

$

27