PREFERRED STOCK	6 Months Ended
Jun. 30, 2026
Equity [Abstract]
PREFERRED STOCK	12. PREFERRED STOCK In March 2026, the Company issued 30,000 shares of Series B Non-Cumulative Perpetual Convertible Preferred Stock (the “Series B Preferred Stock”) in a private placement, raising $30.0 million in capital. Under the related purchase agreement, the Company had the ability to issue, at its sole discretion, up to 20,000 additional shares for $20.0 million through December 31, 2027. On July 24, 2026, the Company issued the remaining 20,000 shares for $20.0 million. The Series B Preferred Stock is convertible into common stock at the option of the holder on or after the five-year anniversary of the applicable issue date or in connection with a change in control, subject to applicable terms and conditions. Subject to customary anti-dilution adjustments, conversion occurs at a rate of 26.3157 shares of common stock for each share of Series B Preferred Stock held. The Series B Preferred Stock carries a dividend rate of 6.00 percent per annum, is non-callable for the first five years, but may thereafter be redeemed by the Company, subject to applicable terms, conditions and regulatory approvals. These securities qualify as Tier 1 Capital for purposes of calculating regulatory capital ratios.

PREFERRED STOCK

6 Months Ended

Jun. 30, 2026

12. PREFERRED STOCK

In March 2026, the Company issued 30,000 shares of Series B Non-Cumulative Perpetual Convertible Preferred Stock (the “Series B Preferred Stock”) in a private placement, raising $30.0 million in capital. Under the related purchase agreement, the Company had the ability to issue, at its sole discretion, up to 20,000 additional shares for $20.0 million through December 31, 2027. On July 24, 2026, the Company issued the remaining 20,000 shares for $20.0 million. The Series B Preferred Stock is convertible into

common stock at the option of the holder on or after the five-year anniversary of the applicable issue date or in connection with a change in control, subject to applicable terms and conditions. Subject to customary anti-dilution adjustments, conversion occurs at a rate of 26.3157 shares of common stock for each share of Series B Preferred Stock held. The Series B Preferred Stock carries a dividend rate of 6.00 percent per annum, is non-callable for the first five years, but may thereafter be redeemed by the Company, subject to applicable terms, conditions and regulatory approvals. These securities qualify as Tier 1 Capital for purposes of calculating regulatory capital ratios.