Related Party Transactions |
6 Months Ended |
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Jun. 30, 2026 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions | (10) Related Party Transactions.
The Company engages in transactions with directors, executive officers, and their affiliates in the ordinary course of business. These transactions include lending, deposit, and other financial service arrangements and are conducted on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with unaffiliated parties.
Related Party Lending Arrangement. During the period, a member of the Company’s Board of Directors (the “Related Party”) provided financing to the Company’s financing subsidiary in connection with the subsidiary’s lending activities.
Under this arrangement, the Related Party provides funds to the financing subsidiary, which are used to originate loans to third-party borrowers. The Company provides credit for these guarantee arrangements.
As of June 30, 2026, the outstanding balance of borrowings from the Related Party was approximately $14.0 million.
The borrowings are subject to customary terms and conditions, including stated interest rates, repayment provisions, and maturity dates. Management believes that these terms are comparable to those that could be obtained from unaffiliated third parties.
The Company has established policies and procedures for the review, approval, and monitoring of related party transactions. All such transactions are reviewed and approved in accordance with the Company’s governance policies.
Related Party Line of Credit. At June 30, 2026, the Company had an available related-party line of credit of $270,000. Related party loans were made in the ordinary course of business on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with non-related parties.
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