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BORROWINGS
 9 Months Ended
Sep. 30, 2025
BORROWINGS  
BORROWINGS

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NOTE G: BORROWINGS

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During the first quarter of 2025, the Company entered into a new parent company unsecured committed revolving line of credit facility with a commercial bank in an amount of up to $50.0 million to be available for use for general corporate purposes including potential future merger and acquisition activity by its non-Bank subsidiaries. Outstanding borrowings under the revolving line of credit facility will bear interest at either fixed rates determined at closing or floating rates at the monthly Secured Overnight Financing Rate plus 2.25% at the option of the Company. The revolving line of credit facility will mature on February 25, 2026, subject to a 364 day extension with opt-out provided for by either party to the agreement and includes certain financial covenants. The Company has determined it is in compliance with these covenants as of September 30, 2025.

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During 2024, the Company secured $250.0 million of fixed rate FHLB term borrowings. The borrowings consist of: three $50.0 million advances at interest rates ranging from 4.38% to 4.47% that were putable at the option of the FHLB in June 2025 and mature in June 2027 as the option was not exercised; and one $100.0 million advance at a rate of 3.73% that included a put option that was exercised by the FHLB in August 2025.