NOTE 14: Subsequent Events

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On May 7, 2026, the Corporation announced that it had completed the sale (the Transaction) of its membership interest in Bearing Insurance Group, LLC to an unaffiliated third party, effective May 1, 2026. The Corporation’s equity investment is included in “Other Assets” in the Consolidated Balance Sheets. Based solely on information available to the Corporation on the date hereof, the Corporation estimates that a pre-tax gain of approximately $8.3 million will be recognized on the Transaction, which will be included in the Corporation’s financial results for the second quarter of 2026.

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Following the completion of the Transaction, the Corporation executed a strategic restructuring of a portion of its securities available for sale portfolio which will result in a pre-tax loss of approximately $7.1 million, which will be included in the Corporation’s financial results for the second quarter of 2026. The Corporation sold securities available for sale with a book value of $72.6 million and purchased approximately $67.8 million of securities available for sale.