| 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:
Schedule
of Aggregate Fair Value Loans Held for Sale
| | |
As
of
June
30, 2026 | | |
As
of
December
31, 2025 | |
| | |
| | |
| |
| Aggregate
fair value | |
$ | 146,871,985 | | |
$ | 155,968,266 | |
| Unpaid
principal balance | |
| 144,581,000 | | |
| 154,484,198 | |
| Unrealized
gain | |
| 2,290,985 | | |
| 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:
Schedule
of Mortgage Fee Income for Loans Held for Sale
| | |
2026 | | |
2025 | | |
2026 | | |
2025 | |
| | |
Three
Months Ended June 30, | | |
Six
Months Ended June 30, | |
| | |
2026 | | |
2025 | | |
2026 | | |
2025 | |
| Loan
fees | |
$ | 6,387,240 | | |
$ | 6,709,062 | | |
$ | 12,121,753 | | |
$ | 11,963,152 | |
| Interest
income | |
| 2,027,840 | | |
| 2,366,245 | | |
| 3,758,505 | | |
| 4,033,679 | |
| Secondary
gains | |
| 16,895,087 | | |
| 20,185,222 | | |
| 33,309,825 | | |
| 37,140,165 | |
| Change
in fair value of loan commitments | |
| (365,260 | ) | |
| 132,404 | | |
| 1,019,467 | | |
| 606,944 | |
| Change
in fair value of loans held for sale | |
| 1,045,923 | | |
| 308,074 | | |
| (558,065 | ) | |
| 949,342 | |
| Provision
for loan loss reserve | |
| (193,297 | ) | |
| (215,903 | ) | |
| (364,293 | ) | |
| (398,937 | ) |
| Mortgage
fee income | |
$ | 25,797,533 | | |
$ | 29,485,104 | | |
$ | 49,287,192 | | |
$ | 54,294,345 | |
|
| 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:
Summary of Loan Loss Reserve Included in Other Liabilities and Accrued Expenses
| | |
As
of
June
30, 2026 | | |
As
of
December
31, 2025 | |
| Balance,
beginning of period | |
$ | 384,184 | | |
$ | 696,626 | |
| Provision
on current loan originations (1) | |
| 364,293 | | |
| 805,518 | |
| Additional
provision (2) | |
| - | | |
| 40,000 | |
| Charge-offs,
net of recaptured amounts | |
| (337,460 | ) | |
| (1,157,960 | ) |
| Balance,
end of period | |
$ | 411,017 | | |
$ | 384,184 | |
| (1) |
Included in mortgage fee income |
| (2) |
Included in other expenses |
|