Debt |
9 Months Ended |
|---|---|
Sep. 30, 2026 | |
| Debt Disclosure [Abstract] | |
| Debt | DEBT Subordinated Notes and Debentures On August 22, 2026, the Company exercised its option to redeem $7,732,000 of its outstanding 10.20% fixed rate junior subordinated deferrable interest debentures originally due February 22, 2031 (the “Debentures”) held by Jefferson County Statutory Trust I (“JEFFCO Stat Trust I”) pursuant to the terms of the Debentures. In addition to the principal redemption, the Company paid $394,332 of accrued but unpaid interest as of the redemption date. The redemption was funded with a portion of the net proceeds from the Company's issuance of fixed-to-floating rate subordinated notes due 2036, which was completed during the second quarter of 2026. The Debentures were carried at face value with no unamortized debt issuance costs, discounts or premiums. Accordingly, no gain or loss on extinguishment was recognized. The redemption proceeds received by JEFFCO Stat Trust I were used to redeem $7,500,000 of trust preferred securities held by third parties and $232,000 of common securities held by the Company.
|