Loan Sales |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Loan Sales | Note 7. Loan Sales A summary of loan participation sales and servicing assets are as follows (dollars in thousands):
ACCU Loan Participation Agreement (Secured Borrowings) As detailed in Note 3: Related Party Transactions, effective August 9, 2021, the Company entered into a Master Loan Participation Purchase and Sale Agreement with ACCU. Sales made under the Master LP Agreement are on a recourse basis, requiring the Company to repurchase the participation interest in the event of default by the borrower. During the year ended December 31, 2022, the Company sold loan participations to ACCU under the provisions of the Master LP Agreement that totaled $7 thousand. Due to the recourse provisions of the agreement, the participation sales made under the agreement are classified as secured borrowings and are presented as part of other secured borrowings on the Company’s consolidated balance sheets. The Company did not sell any loan participations to ACCU under the provisions of the Master LP Agreement during the years ended December 31, 2025 or December 31, 2024. |
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