| Schedule of loans receivable |
Loans receivable consist of the following (in thousands): | | | | | | | | | June 30, 2026 | | December 31, 2025 | One to four residential | | $ | 95,785 | | $ | 109,123 | Purchased and participations | | | 5,489 | | | 5,993 | Home improvement, first mortgage | | | 421 | | | 457 | Home equity line of credit (HELOC) | | | 6,511 | | | 5,431 | Commercial, construction | | | 49,556 | | | 46,124 | Commercial and Industrial | | | 26,692 | | | 23,169 | Commercial Real Estate | | | 89,727 | | | 76,338 | Commercial Line of Credit (LOC) | | | 17,971 | | | 9,706 | Total | | | 292,152 | | | 276,341 | Add premiums on purchased loans | | | 32 | | | 35 | Less: | | | | | | | Loans sold | | | (5,853) | | | (4,386) | Loans in process | | | 26 | | | (304) | Allowance for credit losses | | | (2,952) | | | (2,682) | Deferred income from loan fees | | | (1,116) | | | (1,055) | | | $ | 282,289 | | $ | 267,949 |
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| Schedule of activity in the allowance for credit losses |
5.Loans Receivable (continued) Activity in the allowance for credit losses is summarized for the three and six months ended June 30, 2026 and 2025, as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Home | | | | | | | | | | | | | | | | | | | | | | | Purchased | | improvement | | | | | | | | Commercial | | Commercial | | | | | | | | | One to Four | | and | | first | | | | | Commercial | | and | | real | | | | | | | | | Residential | | participations | | mortgage | | HELOC | | construction | | industrial | | estate | | LOC | | Total | Allowance for Credit Loss | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the Three Months Ended | | | | | | | | | | | | | | | | | | | | | | | | | | | | Beginning balance March 31, 2026 | | $ | 992 | | $ | 56 | | $ | 4 | | $ | 58 | | $ | 456 | | $ | 278 | | $ | 933 | | $ | 40 | | $ | 2,817 | Provision | | | (24) | | | (1) | | | — | | | 8 | | | 45 | | | (8) | | | (26) | | | 141 | | | 135 | Charge-offs | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Recoveries | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Ending balance June 30, 2026 | | $ | 968 | | $ | 55 | | $ | 4 | | $ | 66 | | $ | 501 | | $ | 270 | | $ | 907 | | $ | 181 | | $ | 2,952 | Beginning balance March 31, 2025 | | | 1,102 | | | 78 | | | 2 | | | 52 | | | 238 | | | 191 | | | 495 | | | 115 | | $ | 2,273 | Provision | | | 8 | | | (9) | | | — | | | (2) | | | 109 | | | (40) | | | 96 | | | (27) | | | 135 | Charge-offs | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Recoveries | | | 4 | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | 4 | Ending balance June 30, 2025 | | $ | 1,114 | | $ | 69 | | $ | 2 | | $ | 50 | | $ | 347 | | $ | 151 | | $ | 591 | | $ | 88 | | $ | 2,412 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the Six Months Ended | | | | | | | | | | | | | | | | | | | | | | | | | | | | Beginning balance January 1, 2026 | | $ | 1,059 | | $ | 58 | | $ | 4 | | $ | 53 | | $ | 448 | | $ | 225 | | $ | 741 | | $ | 94 | | $ | 2,682 | Provision | | | (91) | | | (3) | | | — | | | 13 | | | 53 | | | 45 | | | 166 | | | 87 | | | 270 | Charge-offs | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Recoveries | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Ending balance June 30, 2026 | | | 968 | | | 55 | | | 4 | | | 66 | | | 501 | | | 270 | | | 907 | | | 181 | | | 2,952 | Beginning balance January 1, 2025 | | | 1,074 | | | 75 | | | 2 | | | 52 | | | 195 | | | 186 | | | 435 | | | 107 | | | 2,126 | Provision | | | 24 | | | (6) | | | — | | | (2) | | | 152 | | | (35) | | | 156 | | | (19) | | | 270 | Charge-offs | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Recoveries | | | 16 | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | 16 | Ending balance June 30, 2025 | | | 1,114 | | | 69 | | | 2 | | | 50 | | | 347 | | | 151 | | | 591 | | | 88 | | | 2,412 |
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| Schedule of aging of loans receivable by classification |
The aging of loans receivable by class of receivable is as follows (in thousands): | | | | | | | | | | | | | | | | | | June 30, 2026 | | | | | | 30 – 89 | | 90+ | | | | | 2026 | | Current | | days | | days | | Total | | Non-Accrual | One to four residential and home improvement | | $ | 94,358 | | $ | 888 | | $ | 960 | | $ | 96,206 | | $ | 1,462 | Purchased and Participations | | | 5,454 | | | 10 | | | 25 | | | 5,489 | | | — | Home Equity Line of Credit (HELOC) | | | 6,411 | | | 100 | | | — | | | 6,511 | | | — | Commercial & Industrial | | | 26,692 | | | — | | | — | | | 26,692 | | | — | Commercial real estate | | | 89,727 | | | — | | | — | | | 89,727 | | | — | Commercial, construction | | | 49,556 | | | — | | | — | | | 49,556 | | | — | Commercial Line of Credit (LOC) | | | 17,971 | | | — | | | — | | | 17,971 | | | — | | | $ | 290,169 | | $ | 998 | | $ | 985 | | $ | 292,152 | | $ | 1,462 |
| | | | | | | | | | | | | | | | | | December 31, 2025 | | | | | | 30 – 89 | | 90+ | | | | | | | 2025 | | Current | | days | | days | | Total | | Non-Accrual | One to four residential and home improvement | | $ | 108,408 | | $ | 783 | | $ | 389 | | $ | 109,580 | | $ | 1,294 | Purchased and Participations | | | 5,951 | | | — | | | 42 | | | 5,993 | | | — | Home Equity Line of Credit (HELOC) | | | 5,281 | | | 137 | | | 13 | | | 5,431 | | | — | Commercial & Industrial | | | 23,169 | | | — | | | — | | | 23,169 | | | — | Commercial real estate | | | 76,338 | | | — | | | — | | | 76,338 | | | — | Commercial, construction | | | 46,124 | | | — | | | — | | | 46,124 | | | — | Commercial Line of Credit (LOC) | | | 9,706 | | | — | | | — | | | 9,706 | | | — | | | $ | 274,977 | | $ | 920 | | $ | 444 | | $ | 276,341 | | $ | 1,294 |
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| Schedule of loans by risk rating and year of origination |
As of June 30, 2026 and December 31, 2025, and based on the most recent analysis performed, the aggregate dollar amount of loans segmented by risk category (and by class of loan and year of origination) is as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | 2026 | | 2025 | | 2024 | | 2023 | | 2022 | | Prior | | Revolvers | | Total | Pass | | | | | | | | | | | | | | | | | | | | | | | | | One to four residential | | $ | 2,168 | | $ | 3,105 | | $ | 3,930 | | $ | 3,673 | | $ | 6,613 | | $ | 74,666 | | $ | — | | $ | 94,155 | Purchased and Participations | | | — | | | — | | | — | | | — | | | — | | | 5,489 | | | — | | | 5,489 | Home improvement, first mortgage | | | 99 | | | 170 | | | — | | | 121 | | | 20 | | | 11 | | | — | | | 421 | Home equity line of credit | | | — | | | — | | | — | | | — | | | — | | | — | | | 6,511 | | | 6,511 | Commercial construction | | | 2,720 | | | 24,548 | | | 9,924 | | | 12,364 | | | — | | | — | | | — | | | 49,556 | Commercial and industrial | | | 886 | | | 19,308 | | | 4,660 | | | 452 | | | — | | | — | | | — | | | 25,306 | Commercial real estate | | | 29,652 | | | 28,452 | | | 14,023 | | | 17,373 | | | — | | | — | | | — | | | 89,500 | Commercial line of credit | | | 2,375 | | | 647 | | | 14,949 | | | — | | | — | | | — | | | — | | | 17,971 | Total pass | | $ | 37,900 | | $ | 76,230 | | $ | 47,486 | | $ | 33,983 | | $ | 6,633 | | $ | 80,166 | | $ | 6,511 | | $ | 288,909 | Special Mention | | | | | | | | | | | | | | | | | | | | | | | | | One to four residential | | | — | | | — | | | — | | | — | | | — | | | 168 | | | — | | | 168 | Purchased and Participations | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Home improvement, first mortgage | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Home equity line of credit | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Commercial construction | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Commercial and industrial | | | — | | | — | | | 1,386 | | | — | | | — | | | — | | | — | | | 1,386 | Commercial real estate | | | — | | | — | | | 227 | | | — | | | — | | | — | | | — | | | 227 | Commercial line of credit | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Total special mention | | $ | — | | $ | — | | $ | 1,613 | | $ | — | | $ | — | | $ | 168 | | $ | — | | $ | 1,781 | Substandard | | | | | | | | | | | | | | | | | | | | | | | | | One to four residential | | | — | | | — | | | — | | | — | | | — | | | 1,462 | | | — | | | 1,462 | Purchased and Participations | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Home improvement, first mortgage | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Home equity line of credit | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Commercial construction | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Commercial and industrial | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Commercial real estate | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Commercial line of credit | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Total substandard | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | 1,462 | | $ | — | | $ | 1,462 | Total | | $ | 37,900 | | $ | 76,230 | | $ | 49,099 | | $ | 33,983 | | $ | 6,633 | | $ | 81,796 | | $ | 6,511 | | $ | 292,152 |
5.Loans Receivable (continued) | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | 2025 | | 2024 | | 2023 | | 2022 | | 2021 | | Prior | | Revolvers | | Total | Pass | | | | | | | | | | | | | | | | | | | | | | | | | One to four residential | | $ | 3,147 | | $ | 4,897 | | $ | 3,822 | | $ | 7,009 | | $ | 24,385 | | $ | 63,877 | | $ | — | | $ | 107,137 | Purchased and Participations | | | — | | | — | | | — | | | — | | | — | | | 5,993 | | | — | | | 5,993 | Home improvement, first mortgage | | | 290 | | | — | | | 129 | | | 21 | | | — | | | 17 | | | — | | | 457 | Home equity line of credit | | | — | | | — | | | — | | | — | | | — | | | — | | | 5,431 | | | 5,431 | Commercial construction | | | 20,074 | | | 12,573 | | | 13,477 | | | — | | | — | | | — | | | — | | | 46,124 | Commercial and industrial | | | 10,455 | | | 11,215 | | | 477 | | | — | | | — | | | — | | | — | | | 22,147 | Commercial real estate | | | 29,650 | | | 34,162 | | | 12,296 | | | — | | | — | | | — | | | — | | | 76,108 | Commercial line of credit | | | 648 | | | 3,558 | | | 5,500 | | | — | | | — | | | — | | | — | | | 9,706 | Total pass | | $ | 64,264 | | $ | 66,405 | | $ | 35,701 | | $ | 7,030 | | $ | 24,385 | | $ | 69,887 | | $ | 5,431 | | $ | 273,103 | Special Mention | | | | | | | | | | | | | | | | | | | | | | | | | One to four residential | | | — | | | — | | | — | | | — | | | 521 | | | 171 | | | — | | | 692 | Purchased and Participations | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Home improvement, first mortgage | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Home equity line of credit | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Commercial construction | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Commercial and industrial | | | — | | | 1,022 | | | — | | | — | | | — | | | — | | | — | | | 1,022 | Commercial real estate | | | — | | | 230 | | | — | | | — | | | — | | | — | | | — | | | 230 | Commercial line of credit | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Total special mention | | $ | — | | $ | 1,252 | | $ | — | | $ | — | | $ | 521 | | $ | 171 | | $ | — | | $ | 1,944 | Substandard | | | | | | | | | | | | | | | | | | | | | | | | | One to four residential | | | — | | | — | | | — | | | — | | | — | | | 1,294 | | | — | | | 1,294 | Purchased and Participations | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Home improvement, first mortgage | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Home equity line of credit | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Commercial construction | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Commercial and industrial | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Commercial real estate | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Commercial line of credit | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Total substandard | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | 1,294 | | $ | — | | $ | 1,294 | Total | | $ | 64,264 | | $ | 67,657 | | $ | 35,701 | | $ | 7,030 | | $ | 24,906 | | $ | 71,352 | | $ | 5,431 | | $ | 276,341 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | 2026 | | 2025 | | 2024 | | 2023 | | 2022 | | Prior | | Revolvers | | Total | Current gross write-offs for the six months ended June 30, 2025 | | | | | | | | | | | | | | | | | | | | | | | | | One to four residential | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | Purchased and Participations | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Home improvement, first mortgage | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Home equity line of credit | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Commercial construction | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Commercial and industrial | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Commercial real estate | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Commercial line of credit | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Total | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | | | | | | | | | | | | | | | | | | | | | | | | | Current gross write-offs for the six months ended June 30, 2026 | | | | | | | | | | | | | | | | | | | | | | | | | One to four residential | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | Purchased and Participations | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Home improvement, first mortgage | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Home equity line of credit | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Commercial construction | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Commercial and industrial | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Commercial real estate | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Commercial line of credit | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Total | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — |
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