FAIR VALUE ACCOUNTING (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Fair Value Disclosures [Abstract] |
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| Schedule of Assets Measured on Recurring Basis |
The following tables present the financial instruments measured at fair value on a recurring basis as of June 30, 2026 and December 31, 2025: | | | | | | | | | | | | | | | | | | | | | | | | | Fair
Value | | Quoted Prices in
Active Markets
for Identical
Instruments
(Level 1) | | Significant
Other
Observable
Inputs
(Level 2) | | Significant
Unobservable
Inputs
(Level 3) | | June 30, 2026 | | | | | | | | | Investment securities: | | | | | | | | | U.S. government agency obligations | $ | 7,229 | | | $ | — | | | $ | 7,229 | | | $ | — | | | | | | | | | | | Mortgage-backed securities | 63,988 | | | — | | | 63,988 | | | — | | | | | | | | | | | Corporate debt securities | 42,504 | | | — | | | 42,504 | | | — | | | Student loan asset-backed securities | 14,714 | | | — | | | 14,714 | | | — | | | | | | | | | | | Total investment securities | 128,435 | | | — | | | 128,435 | | | — | | | Equity Investments: | | | | | | | | | Farmer Mac equity securities | 571 | | | 571 | | | — | | | — | | | Preferred equity | 1,125 | | | — | | | — | | | 1,125 | | | Equity investments measured at NAV(1) | 4,591 | | | — | | | — | | | — | | | Total equity investments | 6,287 | | | 571 | | | — | | | 1,125 | | | Total | $ | 134,722 | | | $ | 571 | | | $ | 128,435 | | | $ | 1,125 | | | | | | | | | | | December 31, 2025 | | | | | | | | | Investment securities: | | | | | | | | | U.S. government agency obligations | $ | 10,773 | | | $ | — | | | $ | 10,773 | | | $ | — | | | | | | | | | | | Mortgage-backed securities | 66,684 | | | — | | | 66,684 | | | — | | | | | | | | | | | Corporate debt securities | 40,682 | | | — | | | 40,682 | | | — | | | Student loan asset-backed securities | 15,964 | | | — | | | 15,964 | | | — | | | | | | | | | | | Total investment securities | 134,103 | | | — | | | 134,103 | | | — | | | Equity Investments: | | | | | | | | | Farmer Mac equity securities | 505 | | | 505 | | | — | | | — | | | Preferred equity | 1,125 | | | — | | | — | | | 1,125 | | | Equity investments measured at NAV(1) | 4,210 | | | — | | | — | | | — | | | Total equity investments | 5,840 | | | 505 | | | — | | | 1,125 | | | Total | $ | 139,943 | | | $ | 505 | | | $ | 134,103 | | | $ | 1,125 | | | | | | | | | |
(1) Investments valued at NAV are excluded from being reported under the fair value hierarchy but are presented to permit reconciliation with the balance sheet in accordance with ASC 820-10-35-54B.
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| Schedule of Assets Measured on Nonrecurring Basis |
The following tables present the financial instruments measured at fair value on a nonrecurring basis as of June 30, 2026 and December 31, 2025: | | | | | | | | | | | | | | | | | | | | | | | | | Carrying Value | | Quoted Prices in
Active Markets
for Identical
Instruments
(Level 1) | | Significant
Other
Observable
Inputs
(Level 2) | | Significant
Unobservable
Inputs
(Level 3) | | June 30, 2026 | | | | | | | | | Foreclosed and repossessed assets, net | $ | 850 | | | $ | — | | | $ | — | | | $ | 850 | | | Collateral dependent loans | 15,013 | | | — | | | — | | | 15,013 | | | | | | | | | | | Total | $ | 15,863 | | | $ | — | | | $ | — | | | $ | 15,863 | | | December 31, 2025 | | | | | | | | | Foreclosed and repossessed assets, net | $ | 857 | | | $ | — | | | $ | — | | | $ | 857 | | | Collateral dependent loans | 10,360 | | | — | | | — | | | 10,360 | | | | | | | | | | | Total | $ | 11,217 | | | $ | — | | | $ | — | | | $ | 11,217 | |
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| Schedule of Fair Value of Assets |
The following table represents additional quantitative information about assets measured at fair value on a recurring and nonrecurring basis and for which we have utilized Level 3 inputs to determine their fair value at June 30, 2026 and December 31, 2025: | | | | | | | | | | | | | | | | | | | | | | | | | Fair
Value | | Valuation Techniques (1) | | Significant Unobservable Inputs (2) | | Range | | June 30, 2026 | | | | | | | | | Foreclosed and repossessed assets, net | $ | 850 | | | Appraisal value | | Estimated costs to sell | | 10% - 15% | | Collateral dependent loans | $ | 15,013 | | | Appraisal value / Internal Collateral valuations | | Estimated costs to sell | | 10% - 15% | | | | | | | | | | December 31, 2025 | | | | | | | | | Foreclosed and repossessed assets, net | $ | 857 | | | Appraisal value | | Estimated costs to sell | | 10% - 15% | | Collateral dependent loans | $ | 10,360 | | | Appraisal value / Internal Collateral valuations | | Estimated costs to sell | | 10% - 15% | | | | | | | | |
(1) Fair value is generally determined through independent third-party appraisals of the underlying collateral, which generally includes various level 3 inputs which are not observable. (2) The fair value basis of collateral dependent loans, and real estate owned may be adjusted to reflect management estimates of disposal costs including, but not limited to, real estate brokerage commissions, legal fees, and delinquent property taxes.
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| Schedule of Carrying Amount and Estimated Fair Value of Financial Instruments |
The carrying amount and estimated fair value of the Company’s financial instruments as of the dates indicated below were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | December 31, 2025 | | Valuation Method Used | | Carrying
Amount | | Estimated
Fair
Value | | Carrying
Amount | | Estimated
Fair
Value | | Financial assets: | | | | | | | | | | | Cash and cash equivalents | (Level I) | | $ | 121,762 | | | $ | 121,762 | | | $ | 118,853 | | | $ | 118,853 | | | | | | | | | | | | | Securities available-for-sale “AFS” | (Level II) | | 128,435 | | | 128,435 | | | 134,103 | | | 134,103 | | | Securities held-to-maturity “HTM” | (Level II) | | 77,415 | | | 61,481 | | | 80,210 | | | 64,117 | | | Farmer Mac equity securities | (Level I) | | 571 | | | 571 | | | 505 | | | 505 | | | Preferred equity | (Level III) | | 1,125 | | | 1,125 | | | 1,125 | | | 1,125 | | | Equity investments valued at NAV(1) | N/A | | 4,591 | | | N/A | | 4,210 | | | N/A | | Other investments | (Level II) | | 12,485 | | | 12,485 | | | 12,506 | | | 12,506 | | | Loans receivable, net | (Level III) | | 1,357,076 | | | 1,343,743 | | | 1,317,924 | | | 1,297,841 | | | Loans held for sale - Residential mortgage | (Level I) | | 941 | | | 941 | | | 2,338 | | | 2,338 | | | Loans held for sale - SBA /FSA | (Level II) | | — | | | — | | | 2,616 | | | 2,616 | | | Mortgage servicing rights | (Level III) | | 3,453 | | | 5,108 | | | 3,494 | | | 4,652 | | | Accrued interest receivable | (Level I) | | 6,180 | | | 6,180 | | | 6,126 | | | 6,126 | | | Financial liabilities: | | | | | | | | | | | Deposits (excluding demand deposits) | (Level III) | | $ | 895,494 | | | $ | 895,099 | | | $ | 891,747 | | | $ | 891,663 | | | FHLB advances | (Level II) | | — | | | — | | | — | | | — | | | Other borrowings | (Level II) | | 51,885 | | | 50,950 | | | 51,804 | | | 49,988 | | | Accrued interest payable | (Level I) | | 3,126 | | | 3,126 | | | 3,680 | | | 3,680 | |
(1) Investments valued at NAV are excluded from being reported under the fair value hierarchy but are presented to permit reconciliation with the balance sheet in accordance with ASC 820-10-35-54B.
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