| FAIR VALUE OF FINANCIAL INSTRUMENTS |
NOTE 16 – FAIR VALUE OF FINANCIAL INSTRUMENTS The carrying amounts and fair values of the Company’s financial instruments at the dates indicated are presented below: | | | | | | | | | | | | | | | | | | Carrying | | Fair | | Fair value measurements | | | amount | | value | | Level 1 | | Level 2 | | Level 3 | March 31, 2026 | | | | | | | | | | | | | | | | Financial assets: | | | | | | | | | | | | | | | | Cash and cash equivalents | | $ | 305,904 | | $ | 305,904 | | $ | 305,904 | | $ | — | | $ | — | Investment securities AFS | | | 189,432 | | | 189,432 | | | — | | | 189,432 | | | — | Equity securities | | | 12,613 | | | 12,613 | | | 12,613 | | | — | | | — | Investment in FHLB and FRB Stock | | | 19,251 | | | 19,251 | | | — | | | 19,251 | | | — | Loans held for sale | | | 125 | | | 125 | | | — | | | 125 | | | — | Loans, net | | | 1,990,682 | | | 1,966,342 | | | — | | | — | | | 1,966,342 | Accrued interest receivable | | | 8,553 | | | 8,553 | | | — | | | 8,553 | | | — | Financial liabilities: | | | | | | | | | | | | | | | | Deposits | | | 2,265,390 | | | 2,272,694 | | | — | | | 2,272,694 | | | — | Junior subordinated deferrable interest debentures, net | | | 5,874 | | | 5,832 | | | — | | | — | | | 5,832 | Accrued interest payable | | | 2,068 | | | 2,068 | | | — | | | 2,068 | | | — | Off-balance sheet liabilities: | | | | | | | | | | | | | | | | Undisbursed loan commitments, lines of credit, standby letters of credit | | | 65,409 | | | 65,074 | | | — | | | — | | | 65,074 |
| | | | | | | | | | | | | | | | | | Carrying | | Fair | | Fair value measurements | | | amount | | value | | Level 1 | | Level 2 | | Level 3 | December 31, 2025 | | | | | | | | | | | | | | | | Financial assets: | | | | | | | | | | | | | | | | Cash and cash equivalents | | $ | 206,514 | | $ | 206,514 | | $ | 206,514 | | $ | — | | $ | — | Investment securities AFS | | | 179,708 | | | 179,708 | | | — | | | 179,708 | | | — | Equity securities | | | 12,554 | | | 12,554 | | | 12,554 | | | — | | | — | Investment in FHLB and FRB Stock | | | 19,246 | | | 19,246 | | | — | | | 19,246 | | | — | Loans held for sale | | | 1,316 | | | 1,316 | | | — | | | 1,316 | | | — | Loans, net | | | 2,045,126 | | | 2,020,591 | | | — | | | — | | | 2,020,591 | Accrued interest receivable | | | 8,344 | | | 8,344 | | | — | | | 8,344 | | | — | Financial liabilities: | | | | | | | | | | | | | | | | Deposits | | | 2,213,640 | | | 2,221,521 | | | — | | | 2,221,521 | | | — | Junior subordinated deferrable interest debentures, net | | | 8,726 | | | 8,579 | | | — | | | — | | | 8,579 | Accrued interest payable | | | 1,831 | | | 1,831 | | | — | | | 1,831 | | | — | Off-balance sheet liabilities: | | | | | | | | | | | | | | | | Undisbursed loan commitments, lines of credit, standby letters of credit | | | 67,537 | | | 67,127 | | | — | | | — | | | 67,127 |
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