| LOANS |
A
summary of the Company’s loans by portfolio segment as of the dates indicated is as follows:
SCHEDULE
OF PORTFOLIO SEGMENT
| | |
March
31, | | |
December
31, | |
| | |
2026 | | |
2025 | |
| | |
| | |
| |
| Residential
real estate | |
$ | 2,178 | | |
$ | 1,899 | |
| Commercial
real estate | |
| 11,506 | | |
| 10,268 | |
| Commercial
and industrial | |
| 7,034 | | |
| 3,917 | |
| Consumer | |
| 1,913 | | |
| 1,618 | |
| | |
| | | |
| | |
| Gross
loans | |
| 22,631 | | |
| 17,702 | |
| Less:
Allowance for credit losses | |
| (369 | ) | |
| (227 | ) |
| | |
| | | |
| | |
| Net
loans | |
$ | 22,262 | | |
$ | 17,475 | |
The
following presents the activity in the allowance for credit losses by loan portfolio segment for the three months ended March 31, 2026
and 2025. Allocation of a portion of the allowance to one segment of loans does not preclude its availability to absorb losses in other
segments.
OLD
GLORY HOLDING COMPANY AND SUBSIDIARIES
NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
(dollars
in thousands, except share data)
March
31, 2026
SCHEDULE
OF ALLOWANCE FOR CREDIT LOSSES BY LOAN PORTFOLIO SEGMENT
| | |
| | |
| | |
| | |
| | |
| |
| | |
Three
Months Ended March 31, 2026 | |
| | |
Residential
Real
Estate | | |
Commercial
Real
Estate | | |
Commercial
and
Industrial | | |
Consumer | | |
Total | |
| | |
| | |
| | |
| | |
| | |
| |
| Balance
at beginning of year | |
$ | 11 | | |
$ | 96 | | |
$ | 109 | | |
$ | 11 | | |
$ | 227 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Loans
charged-off | |
| - | | |
| - | | |
| - | | |
| (60 | ) | |
| (60 | ) |
| Recoveries
on loans | |
| - | | |
| - | | |
| - | | |
| 6 | | |
| 6 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Net
charge-offs | |
| - | | |
| - | | |
| - | | |
| (54 | ) | |
| (54 | ) |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Provision | |
| 14 | | |
| 32 | | |
| 92 | | |
| 58 | | |
| 196 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Balance
at end of year | |
$ | 25 | | |
$ | 128 | | |
$ | 201 | | |
$ | 15 | | |
$ | 369 | |
| | |
| | |
| | |
| | |
| | |
| |
| | |
Three
Months Ended March 31, 2025 | |
| | |
Residential
Real
Estate | | |
Commercial
Real
Estate | | |
Commercial
and
Industrial | | |
Consumer | | |
Total | |
| | |
| | |
| | |
| | |
| | |
| |
| Balance
at beginning of period | |
$ | 11 | | |
$ | 1 | | |
$ | 27 | | |
$ | 4 | | |
$ | 43 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Loans
charged-off | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| Recoveries
on loans | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Net
charge-offs | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Provision | |
| - | | |
| 17 | | |
| 28 | | |
| 22 | | |
| 67 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Balance
at end of period | |
$ | 11 | | |
$ | 18 | | |
$ | 55 | | |
$ | 26 | | |
$ | 109 | |
OLD
GLORY HOLDING COMPANY AND SUBSIDIARIES
NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
(dollars
in thousands, except share data)
March
31, 2026
Collateral
dependent loans are loans for which the repayment is expected to be provided substantially through the operation or sale of the collateral
and the borrower is experiencing financial difficulty. The Company reviews individually evaluated loans for designation as collateral
dependent loans, as well as other loans that management of the Company designates as having higher risk. These loans do not share common
risk characteristics and are not included within the collectively evaluated loans for determining the allowance for credit losses.
Under
CECL, for collateral dependent loans, the Company has adopted the practical expedient to measure the allowance for credit losses based
on the fair value of collateral. The allowance for credit losses is calculated on an individual loan basis based on the shortfall between
the fair value of the loan’s collateral, which is adjusted for liquidation costs/discounts, and amortized cost. If the fair value
of the collateral exceeds the amortized cost, no allowance is required.
The
following tables provide a breakdown between loans identified as collateral dependent assets (“CDAs”) and non-CDAs, by type
and securing collateral, as well as collateral coverage for those loans at March 31, 2026 and December 31, 2025:
SCHEDULE
OF COLLATERAL DEPARTMENT ASSETS
| | |
| | |
| | |
| | |
| |
| | |
March
31, 2026 | |
| | |
CDA’s | | |
| | |
| |
| | |
Residential | | |
Commercial | | |
Non | | |
| |
| | |
Property | | |
Property | | |
CDA’s | | |
Total | |
| Residential
real estate | |
$ | - | | |
$ | - | | |
$ | 2,178 | | |
$ | 2,178 | |
| Commercial
real estate | |
| - | | |
| - | | |
| 11,506 | | |
| 11,506 | |
| Commercial
and industrial | |
| - | | |
| 122 | | |
| 6,912 | | |
| 7,034 | |
| Consumer | |
| - | | |
| - | | |
| 1,913 | | |
| 1,913 | |
| | |
| | | |
| | | |
| | | |
| | |
| Total | |
$ | - | | |
$ | 122 | | |
$ | 22,509 | | |
$ | 22,631 | |
| | |
| | | |
| | | |
| | | |
| | |
| Total
collateral value | |
$ | - | | |
$ | - | | |
| - | | |
| - | |
| | |
| | |
| | |
| | |
| |
| | |
December
31, 2025 | |
| | |
CDA’s | | |
| | |
| |
| | |
Residential | | |
Commercial | | |
Non | | |
| |
| | |
Property | | |
Property | | |
CDA’s | | |
Total | |
| Residential
real estate | |
$ | - | | |
$ | - | | |
$ | 1,899 | | |
$ | 1,899 | |
| Commercial
real estate | |
| - | | |
| - | | |
| 10,268 | | |
| 10,268 | |
| Commercial
and industrial | |
| - | | |
| 122 | | |
| 3,795 | | |
| 3,917 | |
| Consumer | |
| - | | |
| - | | |
| 1,618 | | |
| 1,618 | |
| | |
| | | |
| | | |
| | | |
| | |
| Total | |
$ | - | | |
$ | 122 | | |
$ | 17,580 | | |
$ | 17,702 | |
| | |
| | | |
| | | |
| | | |
| | |
| Total
collateral value | |
$ | - | | |
$ | 92 | | |
| - | | |
| - | |
OLD
GLORY HOLDING COMPANY AND SUBSIDIARIES
NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
(dollars
in thousands, except share data)
March
31, 2026
The
Company utilizes a risk grading matrix to assign a risk grade to each of its loans. A description of the general characteristics of the
risk grades is as follows:
| ● | Pass—This
grade includes loans to borrowers of acceptable credit quality and risk. The Company further
differentiates within this grade based upon borrower characteristics, which include: capital
strength, earnings stability, leverage, and industry. |
| | | |
| ● | Special
Mention—This grade includes loans that require more than a normal degree of supervision
and attention. These loans have all the characteristics of an adequate asset, but due to
being adversely affected by economic or financial conditions have a potential weakness that
deserves management’s close attention. If left uncorrected, these potential weaknesses
may result in deterioration of the repayment prospects for the loan. |
| | | |
| ● | Substandard—This
grade includes loans that have well defined weaknesses, which make payment default or principal
exposure possible, but not yet certain. Such loans are apt to be dependent upon collateral
liquidation, a secondary source of repayment or an event outside of the normal course of
business to meet the repayment terms. |
| | | |
| ● | Doubtful—These
loans have all the weaknesses inherent in a “substandard” loan with the added
factor that the weaknesses are so severe that collection or liquidation in full, on the basis
of current existing facts, conditions and values, is extremely unlikely, but because of certain
specific pending factors, the amount of loss cannot yet be determined. |
| | | |
| ● | Loss—This
grade includes loans that are to be charged-off or charged-down when payment is acknowledged
to be uncertain or when the timing or value of payments cannot be determined. “Loss”
is not intended to imply that the asset has no recovery or salvage value, but simply that
it is not practical or desirable to defer writing off all or some portion of the loan, even
though partial recovery may be affected in the future. |
The
following tables present the credit risk profile by risk grade for loans as of March 31, 2026 and December 31, 2025:
SCHEDULE
OF ORIGINATION YEARS
| | |
March 31, | | |
December 31, | |
| | |
2026 | | |
2025 | |
| Pass | |
$ | 20,340 | | |
$ | 17,580 | |
| Special Mention | |
| 1,407 | | |
| - | |
| Substandard | |
| 762 | | |
| 122 | |
| Doubtful | |
| 122 | | |
| - | |
| Total | |
$ | 22,631 | | |
$ | 17,702 | |
OLD
GLORY HOLDING COMPANY AND SUBSIDIARIES
NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
(dollars
in thousands, except share data)
March
31, 2026
The
following tables present an aging of the recorded investment in past due and nonaccrual loans, by loan class, as of March 31, 2026 and
December 31, 2025. All loans that have been delinquent for 90 days or more, as well as other loans with a well-defined weakness, are
considered nonaccrual loans.
SCHEDULE
OF INVESTMENT IN PAST DUE
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| |
| | |
March
31, 2026 | |
| | |
30–59
Days | | |
60–89
Days | | |
90
+ Days | | |
Total
Past Due | | |
Current
Loans | | |
Total
Loans | | |
Non-
Accrual
Loans | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| |
| Residential real estate | |
$ | - | | |
$ | - | | |
$ | 76 | | |
$ | 76 | | |
$ | 2,102 | | |
$ | 2,178 | | |
$ | 76 | |
| Commercial real estate | |
| - | | |
| - | | |
| - | | |
| - | | |
| 11,506 | | |
| 11,506 | | |
| - | |
| Commercial and industrial | |
| - | | |
| - | | |
| - | | |
| - | | |
| 7,034 | | |
| 7,034 | | |
| 122 | |
| Consumer | |
| - | | |
| - | | |
| - | | |
| - | | |
| 1,913 | | |
| 1,913 | | |
| - | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Total | |
$ | - | | |
$ | - | | |
$ | 76 | | |
$ | 76 | | |
$ | 22,555 | | |
$ | 22,631 | | |
$ | 198 | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| |
| | |
December
31, 2025 | |
| | |
30–59
Days | | |
60–89
Days | | |
90
+ Days | | |
Total
Past Due | | |
Current
Loans | | |
Total
Loans | | |
Non-
Accrual
Loans | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| |
| Residential real estate | |
$ | - | | |
$ | 76 | | |
$ | - | | |
$ | 76 | | |
$ | 1,823 | | |
$ | 1,899 | | |
$ | - | |
| Commercial real estate | |
| - | | |
| - | | |
| - | | |
| - | | |
| 10,268 | | |
| 10,268 | | |
| - | |
| Commercial and industrial | |
| - | | |
| - | | |
| - | | |
| - | | |
| 3,795 | | |
| 3,917 | | |
| 122 | |
| Consumer | |
| 16 | | |
| - | | |
| - | | |
| 16 | | |
| 1,602 | | |
| 1,618 | | |
| - | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Total | |
$ | 16 | | |
$ | 76 | | |
$ | - | | |
$ | 92 | | |
$ | 17,488 | | |
$ | 17,702 | | |
$ | 122 | |
The
following table presents recorded investment in loans on nonaccrual status, by class, as of March 31, 2026 and December 31, 2025. It
also includes interest income recognized on nonaccrual loans for the three months ended March 31, 2026.
OLD
GLORY HOLDING COMPANY AND SUBSIDIARIES
NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
(dollars
in thousands, except share data)
SCHEDULE
OF INTEREST INCOME RECOGNIZED ON NON ACCRUAL LOANS
March
31, 2026
| | |
| | |
| | |
90 Days or | | |
Nonaccrual With | | |
Interest Income | |
| | |
| | |
| | |
More & Still | | |
No Specific | | |
Recognized For | |
| | |
Nonaccrual
Loans | | |
Accruing at | | |
Reserve as of | | |
Three Months | |
| | |
March 31, | | |
December 31, | | |
March 31, | | |
March 31, | | |
March 31, | |
| | |
2026 | | |
2025 | | |
2026 | | |
2026 | | |
2026 | |
| Residential real estate | |
$ | 76 | | |
$ | - | | |
$ | - | | |
$ | 76 | | |
$ | - | |
| Commercial real estate | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| Commercial and industrial | |
| 122 | | |
| 122 | | |
| - | | |
| - | | |
| - | |
| Consumer | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Total | |
$ | 198 | | |
$ | 122 | | |
$ | - | | |
$ | 76 | | |
$ | - | |
A
loan modification generally occurs when a borrower is experiencing financial difficulty and the Company grants a concession to provide
the borrower relief from one or more of the contractual loan conditions. Concessions that the Company might consider include the allowance
of interest-only payments on a temporary basis, the reduction of interest rates, the extension of the loan term, the forgiveness of principal,
or a combination of these. The Company had the following loan modifications for the year ended December 31, 2025. The Company did not
have any loan modifications for the three months ended March 31, 2026.
SCHEDULE
OF LOAN MODIFICATION
| | |
December
31, 2025 | |
| | |
Interest Only & | | |
| |
| | |
Reduction in | | |
| |
| | |
Interest
Rate | | |
Total | |
| | |
| | |
| |
| Residential real estate | |
$ | - | | |
$ | - | |
| Commercial real estate | |
| - | | |
| - | |
| Commercial and industrial | |
| 122 | | |
| 122 | |
| Consumer | |
| - | | |
| - | |
| | |
| | | |
| | |
| Total | |
$ | 122 | | |
$ | 122 | |
|
A
summary of the Company’s loans by portfolio segment as of December 31 is as follows:
SCHEDULE
OF PORTFOLIO SEGMENT
| | |
2025 | | |
2024 | |
| | |
| | |
| |
| Residential real estate | |
$ | 1,899 | | |
$ | 522 | |
| Commercial real estate | |
| 10,268 | | |
| 960 | |
| Commercial and industrial | |
| 3,917 | | |
| 1,724 | |
| Consumer | |
| 1,618 | | |
| 579 | |
| | |
| | | |
| | |
| Gross loans | |
| 17,702 | | |
| 3,785 | |
| Less: Allowance for credit
losses | |
| (227 | ) | |
| (43 | ) |
| | |
| | | |
| | |
| Net loans | |
$ | 17,475 | | |
$ | 3,742 | |
The
following presents the activity in the allowance for credit losses by loan portfolio segment for the years ended December 31, 2025 and
December 31, 2024. Allocation of a portion of the allowance to one segment of loans does not preclude its availability to absorb losses
in other segments.
OLD
GLORY HOLDING COMPANY AND SUBSIDIARIES
NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS
(dollars
in thousands, except share data)
December
31, 2025 and 2024
SCHEDULE
OF ALLOWANCE FOR CREDIT LOSSES BY LOAN PORTFOLIO SEGMENT
| | |
Residential | | |
Commercial | | |
Commercial | | |
| | |
| |
| | |
Real
Estate | | |
Real
Estate | | |
and
Industrial | | |
Consumer | | |
Total | |
| 2025 | |
| | | |
| | | |
| | | |
| | | |
| | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Balance
at beginning of year | |
$ | 11 | | |
$ | 1 | | |
$ | 27 | | |
$ | 4 | | |
$ | 43 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Loans
charged-off | |
| - | | |
| - | | |
| (20 | ) | |
| (170 | ) | |
| (190 | ) |
| Recoveries
on loans | |
| - | | |
| - | | |
| - | | |
| 3 | | |
| 3 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Net
charge-offs | |
| - | | |
| - | | |
| (20 | ) | |
| (167 | ) | |
| (187 | ) |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Provision | |
| - | | |
| 95 | | |
| 102 | | |
| 174 | | |
| 371 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Balance
at end of year | |
$ | 11 | | |
$ | 96 | | |
$ | 109 | | |
$ | 11 | | |
$ | 227 | |
| | |
Residential | | |
Commercial | | |
Commercial | | |
| | |
| |
| | |
Real
Estate | | |
Real
Estate | | |
and
Industrial | | |
Consumer | | |
Total | |
| 2024 | |
| | | |
| | | |
| | | |
| | | |
| | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Balance
at beginning of year | |
$ | 4 | | |
$ | 7 | | |
$ | 13 | | |
$ | 1 | | |
$ | 25 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Loans
charged-off | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| Recoveries
on loans | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Net
charge-offs | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Provision | |
| 7 | | |
| (6 | ) | |
| 14 | | |
| 3 | | |
| 18 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Balance
at end of year | |
$ | 11 | | |
$ | 1 | | |
$ | 27 | | |
$ | 4 | | |
$ | 43 | |
Collateral
dependent loans are loans for which the repayment is expected to be provided substantially through the operation or sale of the collateral
and the borrower is experiencing financial difficulty. The Company reviews individually evaluated loans for designation as collateral
dependent loans, as well as other loans that management of the Company designates as having higher risk. These loans do not share common
risk characteristics and are not included within the collectively evaluated loans for determining the allowance for credit losses.
Under
CECL, for collateral dependent loans, the Company has adopted the practical expedient to measure the allowance for credit losses based
on the fair value of collateral. The allowance for credit losses is calculated on an individual loan basis based on the shortfall between
the fair value of the loan’s collateral, which is adjusted for liquidation costs/discounts, and amortized cost. If the fair value
of the collateral exceeds the amortized cost, no allowance is required.
OLD
GLORY HOLDING COMPANY AND SUBSIDIARIES
NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS
(dollars
in thousands, except share data)
December
31, 2025 and 2024
The
following tables provide a breakdown between loans identified as collateral dependent assets (“CDAs”) and non-CDAs, by type
and securing collateral, as well as collateral coverage for those loans at December 31, 2025 and 2024:
SCHEDULE
OF COLLATERAL DEPARTMENT ASSETS
| | |
| | |
| | |
| | |
| |
| | |
2025 | |
| | |
CDA’s | | |
| | |
| |
| | |
Residential | | |
Commercial | | |
Non | | |
| |
| | |
Property | | |
Property | | |
CDA’s | | |
Total | |
| Residential
real estate | |
$ | - | | |
$ | - | | |
$ | 1,899 | | |
$ | 1,899 | |
| Commercial
real estate | |
| - | | |
| - | | |
| 10,268 | | |
| 10,268 | |
| Commercial
and industrial | |
| - | | |
| 122 | | |
| 3,795 | | |
| 3,917 | |
| Consumer | |
| - | | |
| - | | |
| 1,618 | | |
| 1,618 | |
| | |
| | | |
| | | |
| | | |
| | |
| Total | |
$ | - | | |
$ | 122 | | |
$ | 17,580 | | |
$ | 17,702 | |
| | |
| | | |
| | | |
| | | |
| | |
| Total
collateral value | |
$ | - | | |
$ | 92 | | |
| | | |
| | |
| | |
| | |
| | |
| | |
| |
| | |
2024 | |
| | |
CDA’s | | |
| | |
| |
| | |
Residential | | |
Commercial | | |
Non | | |
| |
| | |
Property | | |
Property | | |
CDA’s | | |
Total | |
| Residential
real estate | |
$ | - | | |
$ | - | | |
$ | 522 | | |
$ | 522 | |
| Commercial
real estate | |
| - | | |
| - | | |
| 960 | | |
| 960 | |
| Commercial
and industrial | |
| - | | |
| 134 | | |
| 1,590 | | |
| 1,724 | |
| Consumer | |
| - | | |
| - | | |
| 579 | | |
| 579 | |
| | |
| | | |
| | | |
| | | |
| | |
| Total | |
$ | - | | |
$ | 134 | | |
$ | 3,651 | | |
$ | 3,785 | |
| | |
| | | |
| | | |
| | | |
| | |
| Total
collateral value | |
$ | - | | |
$ | 75 | | |
| | | |
| | |
The
Company utilizes a risk grading matrix to assign a risk grade to each of its loans. A description of the general characteristics of the
risk grades is as follows:
| ● | Pass—This
grade includes loans to borrowers of acceptable credit quality and risk. The Company further
differentiates within this grade based upon borrower characteristics, which include: capital
strength, earnings stability, leverage, and industry. |
| | | |
| ● | Special
Mention—This grade includes loans that require more than a normal degree of supervision
and attention. These loans have all the characteristics of an adequate asset, but due to
being adversely affected by economic or financial conditions have a potential weakness that
deserves management’s close attention. If left uncorrected, these potential weaknesses
may result in deterioration of the repayment prospects for the loan. |
| | | |
| ● | Substandard—This
grade includes loans that have well defined weaknesses, which make payment default or principal
exposure possible, but not yet certain. Such loans are apt to be dependent upon collateral
liquidation, a secondary source of repayment or an event outside of the normal course of
business to meet the repayment terms. |
| | | |
| ● | Doubtful—These
loans have all the weaknesses inherent in a “substandard” loan with the added
factor that the weaknesses are so severe that collection or liquidation in full, on the basis
of current existing facts, conditions and values, is extremely unlikely, but because of certain
specific pending factors, the amount of loss cannot yet be determined. |
| | | |
| ● | Loss—This
grade includes loans that are to be charged-off or charged-down when payment is acknowledged
to be uncertain or when the timing or value of payments cannot be determined. “Loss”
is not intended to imply that the asset has no recovery or salvage value, but simply that
it is not practical or desirable to defer writing off all or some portion of the loan, even
though partial recovery may be affected in the future. |
OLD
GLORY HOLDING COMPANY AND SUBSIDIARIES
NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS
(dollars
in thousands, except share data)
December
31, 2025 and 2024
The
following tables present the credit risk profile by risk grade for loans by origination year as of December 31, 2025 and 2024:
SCHEDULE
OF ORIGINATION YEARS
| December
31, 2025 | |
| |
| | |
2025 | | |
2024 | | |
2023 | | |
2022 | | |
2021 | | |
2020
& Prior | | |
Grand
Total | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| |
| Residential
real estate | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Pass | |
$ | 552 | | |
$ | 867 | | |
$ | 78 | | |
$ | 135 | | |
$ | 124 | | |
$ | 143 | | |
$ | 1,899 | |
| Special
mention | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| Substandard | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| Doubtful | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| Total | |
| 552 | | |
| 867 | | |
| 78 | | |
| 135 | | |
| 124 | | |
| 143 | | |
| 1,899 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Commercial
real estate | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Pass | |
$ | 9,599 | | |
$ | 194 | | |
$ | 43 | | |
$ | 38 | | |
$ | - | | |
$ | 394 | | |
$ | 10,268 | |
| Special
mention | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| Substandard | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| Doubtful | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| Total | |
| 9,599 | | |
| 194 | | |
| 43 | | |
| 38 | | |
| - | | |
| 394 | | |
| 10,268 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Commercial
and industrial | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Pass | |
$ | 2,972 | | |
$ | 652 | | |
$ | 11 | | |
$ | 11 | | |
$ | 137 | | |
$ | 12 | | |
$ | 3,795 | |
| Special
mention | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| Substandard | |
| - | | |
| 122 | | |
| - | | |
| - | | |
| - | | |
| - | | |
| 122 | |
| Doubtful | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| Total | |
| 2,972 | | |
| 774 | | |
| 11 | | |
| 11 | | |
| 137 | | |
| 12 | | |
| 3,917 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Consumer | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Pass | |
$ | 930 | | |
$ | 633 | | |
$ | 48 | | |
$ | - | | |
$ | 7 | | |
$ | - | | |
$ | 1,618 | |
| Special
mention | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| Substandard | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| Doubtful | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| Total | |
| 930 | | |
| 633 | | |
| 48 | | |
| - | | |
| 7 | | |
| - | | |
| 1,618 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Total | |
$ | 14,053 | | |
$ | 2,468 | | |
$ | 180 | | |
$ | 184 | | |
$ | 268 | | |
$ | 549 | | |
$ | 17,702 | |
| December
31, 2024 |
| | |
2024 | | |
2023 | | |
2022 | | |
2021 | | |
2020 | | |
2019
& Prior | | |
Grand
Total | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| |
| Residential
real estate | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Pass | |
$ | 14 | | |
$ | 84 | | |
$ | 79 | | |
$ | 128 | | |
$ | - | | |
$ | 171 | | |
$ | 476 | |
| Special
mention | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| Substandard | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| 46 | | |
| 46 | |
| Doubtful | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| Total | |
| 14 | | |
| 84 | | |
| 79 | | |
| 128 | | |
| - | | |
| 217 | | |
| 522 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Commercial
real estate | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Pass | |
$ | 199 | | |
$ | 429 | | |
$ | - | | |
$ | - | | |
$ | - | | |
$ | 292 | | |
$ | 920 | |
| Special
mention | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| Substandard | |
| - | | |
| - | | |
| 40 | | |
| - | | |
| - | | |
| - | | |
| 40 | |
| Doubtful | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| Total | |
| 199 | | |
| 429 | | |
| 40 | | |
| - | | |
| - | | |
| 292 | | |
| 960 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Commercial
and industrial | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Pass | |
$ | 812 | | |
$ | 113 | | |
$ | 71 | | |
$ | 199 | | |
$ | 277 | | |
$ | 118 | | |
$ | 1,590 | |
| Special
mention | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| Substandard | |
| - | | |
| - | | |
| 16 | | |
| - | | |
| - | | |
| 118 | | |
| 134 | |
| Doubtful | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| Total | |
| 812 | | |
| 113 | | |
| 87 | | |
| 199 | | |
| 277 | | |
| 236 | | |
| 1,724 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Consumer | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Pass | |
$ | 491 | | |
$ | 60 | | |
$ | 12 | | |
$ | 11 | | |
$ | - | | |
$ | - | | |
$ | 574 | |
| Special
mention | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| Substandard | |
| - | | |
| - | | |
| - | | |
| 5 | | |
| - | | |
| - | | |
| 5 | |
| Doubtful | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| Total | |
| 491 | | |
| 60 | | |
| 12 | | |
| 16 | | |
| - | | |
| - | | |
| 579 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Total | |
$ | 1,516 | | |
$ | 686 | | |
$ | 218 | | |
$ | 343 | | |
$ | 277 | | |
$ | 745 | | |
$ | 3,785 | |
OLD
GLORY HOLDING COMPANY AND SUBSIDIARIES
NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS
(dollars
in thousands, except share data)
December
31, 2025 and 2024
The
following tables present an aging of the recorded investment in past due and nonaccrual loans, by loan class, as of December 31, 2025
and 2024. All nonaccrual loans are loans that have been delinquent for 90 days or more. There were no loans past due 90 days and still
accruing interest at December 31, 2025 and 2024.
SCHEDULE
OF INVESTMENT IN PAST DUE
| | |
| | |
| | |
| | |
Total | | |
Current | | |
Total | | |
Non-Accrual | |
| | |
30–59 Days | | |
60–89 Days | | |
90 + Days | | |
Past Due | | |
Loans | | |
Loans | | |
Loans | |
| 2025 | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Residential real estate | |
$ | - | | |
$ | 76 | | |
$ | - | | |
$ | 76 | | |
$ | 1,823 | | |
$ | 1,899 | | |
$ | - | |
| Commercial real estate | |
| - | | |
| - | | |
| - | | |
| - | | |
| 10,268 | | |
| 10,268 | | |
| - | |
| Commercial and industrial | |
| - | | |
| - | | |
| - | | |
| - | | |
| 3,795 | | |
| 3,917 | | |
| 122 | |
| Consumer | |
| 16 | | |
| - | | |
| - | | |
| 16 | | |
| 1,602 | | |
| 1,618 | | |
| - | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Total | |
$ | 16 | | |
$ | 76 | | |
$ | - | | |
$ | 92 | | |
$ | 17,488 | | |
$ | 17,702 | | |
$ | 122 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| 2024 | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Residential real estate | |
$ | 26 | | |
$ | - | | |
$ | - | | |
$ | 26 | | |
$ | 496 | | |
$ | 522 | | |
$ | - | |
| Commercial real estate | |
| - | | |
| - | | |
| - | | |
| - | | |
| 960 | | |
| 960 | | |
| - | |
| Commercial and industrial | |
| 77 | | |
| - | | |
| - | | |
| 77 | | |
| 1,647 | | |
| 1,724 | | |
| - | |
| Consumer | |
| 10 | | |
| - | | |
| - | | |
| 10 | | |
| 569 | | |
| 579 | | |
| - | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Total | |
$ | 113 | | |
$ | - | | |
$ | - | | |
$ | 113 | | |
$ | 3,672 | | |
$ | 3,785 | | |
$ | - | |
The
following table presents recorded investment in loans on nonaccrual status, by class, as of December 31, 2025 and 2024. It also includes
interest income recognized on nonaccrual loans for the year ended December 31, 2025
SCHEDULE
OF INTEREST INCOME RECOGNIZED ON NON ACCRUAL LOANS
| | |
Nonaccrual
Loans | | |
90
Days or More & Still Accruing at | | |
Nonaccrual
With No Specific Reserve as of | | |
Interest
Income Recognized For Year Ended | |
| | |
December
31, | | |
December
31, | | |
December
31, | | |
December
31, | | |
December
31, | |
| | |
2025 | | |
2024 | | |
2025 | | |
2025 | | |
2025 | |
| Residential
real estate | |
$ | - | | |
$ | - | | |
$ | - | | |
$ | - | | |
$ | - | |
| Commercial
real estate | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| Commercial
and industrial | |
| 122 | | |
| - | | |
| - | | |
| - | | |
| 48 | |
| Consumer | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Total | |
$ | 122 | | |
$ | - | | |
$ | - | | |
$ | - | | |
$ | 48 | |
A
loan modification generally occurs when a borrower is experiencing financial difficulty and the Company grants a concession to provide
the borrower relief from one or more of the contractual loan conditions. Concessions that the Company might consider include the allowance
of interest-only payments on a temporary basis, the reduction of interest rates, the extension of the loan term, the forgiveness of principal,
or a combination of these. The Company had the following loan modifications for the year ended December 31, 2025. The Company did not
have any loan modifications for the year ended December 31, 2024.
SCHEDULE
OF LOAN MODIFICATION
| | |
2025 | |
| | |
Interest
Only & Reduction in Interest Rate | | |
Total | |
| | |
| | |
| |
| Residential
real estate | |
$ | - | | |
$ | - | |
| Commercial
real estate | |
| - | | |
| - | |
| Commercial
and industrial | |
| 122 | | |
| 122 | |
| Consumer | |
| - | | |
| - | |
| | |
| | | |
| | |
| Total | |
$ | 122 | | |
$ | 122 | |
OLD
GLORY HOLDING COMPANY AND SUBSIDIARIES
NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS
(dollars
in thousands, except share data)
December
31, 2025 and 2024
|