v3.25.2
Commitments and Contingencies
6 Months Ended
Jun. 30, 2025
Commitments and Contingencies  
Commitments and Contingencies

Note 12: Commitments and Contingencies

Unfunded Commitments

The contractual amount of these commitments represents the Company’s exposure to credit loss. The Company uses the same credit policies in making commitments as it does for on-balance-sheet instruments. The table below shows the outstanding financial instruments whose contract amounts represent credit risk (dollars in thousands):

Contract Amount at:

    

June 30, 2025

    

December 31, 2024

Undisbursed loans

$

262

$

292

The balance of the allowance for credit losses on off-balance sheet commitments is recorded in other liabilities on the Company’s consolidated balance sheet. The following table details activity in the allowance for credit losses on off-balance sheet commitments (dollars in thousands):

Six months ended

Year ended

    

June 30, 2025

    

December 31, 2024

Balance, beginning of period

$

2

$

2

Provision for losses on unfunded commitments

(1)

Balance, end of period

$

1

$

2

Operating Leases

In June 2025, the Company reached an agreement to extend its lease of office space in Fresno, California, for 38 months, terminating in July 2028. The Company recorded $82 thousand in right-of-use assets and lease liabilities related to this agreement.

The table below presents information regarding our existing operating leases (dollars in thousands):

For the

Three months ended

Six months ended

Year ended

June 30,

June 30,

December 31,

    

2025

    

2024

    

2025

2024

2024

Lease cost

Operating lease cost

$

25

$

18

$

53

$

63

$

119

Other information

Cash paid for operating leases

23

15

38

28

537

Right-of-use assets obtained in exchange for operating lease liabilities

82

82

387

387

Lease liabilities recorded

82

82

387

387

Weighted average remaining lease term (in years)

3.88

4.55

3.88

4.55

4.46

Weighted-average discount rate

5.16

%

4.60

%

5.16

%

4.60

%

4.53

%

Future minimum lease payments and lease costs for the twelve months ending June 30, are as follows (dollars in thousands):

    

Lease Payments

    

Lease Costs

2026

$

113

$

112

2027

118

112

2028

121

112

2029

95

84

2030

8

7

Total

$

455

$

427