Note 10: Credit Facilities and Other Debt

Details of the Company’s debt facilities as of June 30, 2025, are as follows (dollars in thousands):

*Represents cash or certificates of deposit

All lines of credit require monthly interest-only payments until maturity. The ACCU secured borrowings are repaid through the monthly principal and interest payments on the underlying loans.

Our lines of credit also contain affirmative covenants typical for credit facilities of this nature. The Company was in compliance with these covenants at June 30, 2025 and December 31, 2024.

ACCU Line of Credit

On September 20, 2024, the Company entered into an agreement to modify this facility. The Modification Agreement renewed the facility for an additional one-year term that matures on September 23, 2025. The ACCU LOC will continue to automatically renew for one additional one-year term unless either party furnishes written notice at least ninety (90) days prior to the termination date that it does not intend to renew the agreement.

The Modification Agreement made two additional changes to the original terms of the ACCU LOC. First, the Modification Agreement increased the interest rate spread from 0.75% over the published Prime Rate to 1.00% over Prime. The Modification Agreement also added a covenant that requires the Company to maintain an average monthly balance of $1 million in a money market account held at ACCU. No other terms were modified.

ACCU Secured Borrowings

On August 9, 2021, the Company entered into a Master Loan Participation Purchase and Sale Agreement with ACCU. The participations sold under the Master LP Agreement are considered secured borrowings and are presented as such on the Company’s balance sheet. $6 thousand in secured borrowings were outstanding under the Master LP Agreement as of June 30, 2025 and December 31, 2024. These borrowings have various contractual maturities ranging from 2028 to 2032.