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Borrowings and Borrowings Availability (Tables)

12 Months Ended

Dec. 31, 2025

Debt Disclosure [Abstract]

Schedule of Debt

The following tables presents information regarding the Company’s outstanding borrowings at December 31, 2025 ($ are in thousands):

Description

Due Date

Call Feature

Balance

Interest Rate

FHLB Principal Reducing Credit

6/26/2028 to 12/20/2028

None

$

753

0.00% to 1.00% fixed

Trust Preferred Securities

1/23/2034

Quarterly by Company beginning 1/23/2009

10,310

6.75% at 12/31/25 adjustable rate 3 month CME Term SOFR + 2.91%

Trust Preferred Securities

1/23/2034

Quarterly by Company beginning 1/23/2009

10,310

6.85% at 12/31/25 adjustable rate 3 month CME Term SOFR + 3.01%

Trust Preferred Securities

9/20/2034

Quarterly by Company beginning 9/20/2009

12,372

6.11% at 12/31/25 adjustable rate 3 month CME Term SOFR + 2.41%

Trust Preferred Securities

1/7/2035

Quarterly by Company beginning 1/7/2010

10,310

6.17% at 12/31/25 adjustable rate 3 month CME Term SOFR +2.00%

Trust Preferred Securities

6/15/2036

Quarterly by Company beginning 6/15/2011

25,774

5.37% at 12/31/25 adjustable rate 3 month CME Term SOFR + 1.65%

Trust Preferred Securities

6/23/2036

Quarterly by Company beginning 6/23/2011

8,248

5.80% at 12/31/25 adjustable rate 3 month CME Term SOFR + 2.11%

Total borrowings / weighted average rate as of December 31, 2025

78,077

5.97%

Unamortized discount on acquired borrowings

(3,508)

Total borrowings

$

74,569

The following table presents information regarding the Company’s outstanding borrowings at December 31, 2024 (dollars are in thousands):

Description

Due date

Call Feature

Balance

Interest Rate

FHLB Principal Reducing Credit

6/26/2028 to 12/20/2028

None

$

802

0.00% to 1.00% fixed

Trust Preferred Securities

1/23/2034

Quarterly by Company beginning 1/23/2009

10,310

7.50% at 12/31/24 adjustable rate 3 month CME Term SOFR + 2.91%

Trust Preferred Securities

1/23/2034

Quarterly by Company beginning 1/23/2009

10,310

7.61% at 12/31/24 adjustable rate 3 month CME Term SOFR + 3.01%

Trust Preferred Securities

9/20/2034

Quarterly by Company beginning 9/20/2009

12,372

6.77% at 12/31/24 adjustable rate 3 month CME Term SOFR + 2.41%

Trust Preferred Securities

1/7/2035

Quarterly by Company beginning 1/7/2010

10,310

6.92% at 12/31/24 adjustable rate 3 month CME Term SOFR + 2.00%

Trust Preferred Securities

6/15/2036

Quarterly by Company beginning 6/15/2011

25,774

6.01% at 12/31/24 adjustable rate 3 month CME Term SOFR + 1.65%

Trust Preferred Securities

6/23/2036

Quarterly by Company beginning 6/23/2011

8,248

6.45% at 12/31/24 adjustable rate 3 month CME Term SOFR + 2.11%

Subordinated Debentures

11/15/2030

Continuous by Company beginning 11/15/2025

18,000

4.38% fixed at 12/31/23 until 11/15/25, then adjustable rate 3 month CME Term SOFR + 4.16%

Total borrowings / weighted average rate as of December 31, 2024

96,126

6.22%

Unamortized discount on acquired borrowings

(4,250)

Total borrowings

$

91,876

Schedule of Maturities of Long-Term Debt

At December 31, 2025, the contractual maturities of borrowings were as follows for the years ending:

($ in thousands)						FHLB Principal Reducing Credit																		Trust Preferred Securities												Total
2026						$	—																	$	—											$	—
2027						—																		—												—
2028						753																		—												753
2029						—																		—												—
2030						—																		—												—
Thereafter						—																		77,324												77,324
Total						$	753																	$	77,324											78,077
Unamortized discount on acquired borrowings																														(3,508)
Total borrowings																																				$	74,569

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Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

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Tabular disclosure of maturity and sinking fund requirement for long-term debt.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 470
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-1

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