v3.26.1
Loans Held for Sale (Tables)
 3 Months Ended
Mar. 31, 2026
Loans Held For Sale  
Schedule of Aggregate Fair Value Loans Held for Sale

The following table presents the aggregate fair value and the aggregate unpaid principal balance of loans held for sale:

 

  

As of

March 31, 2026

  

As of

December 31, 2025

 
         
Aggregate fair value  $137,607,689   $155,968,266 
Unpaid principal balance   137,122,949    154,484,198 
Unrealized gain   484,740    1,484,068 
Schedule of Mortgage Fee Income for Loans Held for Sale

Major categories of mortgage fee income for loans held for sale are summarized as follows:

 

       
   Three Months Ended March 31, 
   2026   2025 
Loan fees  $5,734,513   $5,254,090 
Interest income   1,730,664    1,667,434 
Secondary gains   16,414,739    16,954,943 
Change in fair value of loan commitments   1,384,727    474,540 
Change in fair value of loans held for sale   (1,603,988)   641,268 
Provision for loan loss reserve   (170,996)   (183,034)
Mortgage fee income  $23,489,659   $24,809,241 
Summary of Loan Loss Reserve Included in Other Liabilities and Accrued Expenses

The loan loss reserve, which is included in other liabilities and accrued expenses, is summarized as follows:

 

  

As of

March 31, 2026

  

As of

December 31, 2025

 
Balance, beginning of period  $384,184   $696,626 
Provision on current loan originations (1)   170,996    805,518 
Additional provision (2)   -    40,000 
Charge-offs, net of recaptured amounts   (170,996)   (1,157,960)
Balance, end of period  $384,184   $384,184 

 

 

(1)Included in mortgage fee income
(2)Included in other expenses