<SEC-DOCUMENT>0001398344-24-018321.txt : 20240930
<SEC-HEADER>0001398344-24-018321.hdr.sgml : 20240930
<ACCEPTANCE-DATETIME>20240930150930
ACCESSION NUMBER:		0001398344-24-018321
CONFORMED SUBMISSION TYPE:	SC 13G
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20240930
DATE AS OF CHANGE:		20240930

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NI Holdings, Inc.
		CENTRAL INDEX KEY:			0001681206
		STANDARD INDUSTRIAL CLASSIFICATION:	FIRE, MARINE & CASUALTY INSURANCE [6331]
		ORGANIZATION NAME:           	02 Finance
		IRS NUMBER:				812683619
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-91448
		FILM NUMBER:		241339218

	BUSINESS ADDRESS:	
		STREET 1:		1101 FIRST AVENUE NORTH
		CITY:			FARGO
		STATE:			ND
		ZIP:			58102
		BUSINESS PHONE:		701-298-4200

	MAIL ADDRESS:	
		STREET 1:		1101 FIRST AVENUE NORTH
		CITY:			FARGO
		STATE:			ND
		ZIP:			58102

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			M3 PARTNERS LP
		CENTRAL INDEX KEY:			0001426094
		ORGANIZATION NAME:           	
		IRS NUMBER:				260838223
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G

	BUSINESS ADDRESS:	
		STREET 1:		2070 E 2100 S
		STREET 2:		SUITE 250
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84109
		BUSINESS PHONE:		(202) 246-9200

	MAIL ADDRESS:	
		STREET 1:		2070 E 2100 S
		STREET 2:		SUITE 250
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84109
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G
<SEQUENCE>1
<FILENAME>fp0090373-1_sc13g.htm
<TEXT>
<HTML>
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<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 3pt auto; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SCHEDULE 13G</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Rule 13d-102)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>TO RULE 13d-1(b), (c), AND (d) AND AMENDMENTS THERETO
FILED</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>PURSUANT TO RULE 13d-2(b)</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border-bottom: Black 1pt solid; font-size: 11pt; text-align: center"><B>NI HOLDINGS, INC.</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Name of Issuer)</B></P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Common Stock</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Title of Class of Securities)</B></P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>65342T106</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(CUSIP Number)</B></P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>September 20, 2024</B></P></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Date of Event Which Requires Filing of This Statement)</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Check the appropriate box to designate the rule pursuant
to which this Schedule is filed:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">[   &#8239;&#8239;] Rule 13d-1(b)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">[X] Rule 13d-1(c)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">[ &#8239;&#8239;] Rule 13d-1(d)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 20%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The remainder
of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The information required in the
remainder of this cover page shall not be deemed to be &quot;filed&quot; for the purpose of Section 18 of the Securities Exchange Act
of 1934 or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however,
see the <I>Notes</I>).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Continued on following pages)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="4" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%; border: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt">CUSIP NO.&#9;65342T106</FONT></TD>
    <TD STYLE="width: 33%; font-size: 11pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>13G</B></FONT></TD>
    <TD STYLE="width: 33%; border: Black 1pt solid; font-size: 11pt; text-align: center"><FONT STYLE="font-size: 11pt">Page 2 of 9 Pages</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="4" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>1</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">NAMES OF REPORTING PERSONS</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">M3 FUNDS, LLC</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>2</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 5in">(a) [   &#8239;&#8239;]</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 5in">(b) [   &#8239;&#8239;]</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>3</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">SEC USE ONLY</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>4</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">CITIZENSHIP OR PLACE OF ORGANIZATION</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">STATE OF DELAWARE, UNITED STATES OF AMERICA</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" ROWSPAN="4" STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NUMBER OF</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">SHARES</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">BENEFICIALLY</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">OWNED BY</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">EACH</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">REPORTING PERSON WITH</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>5</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">SOLE VOTING POWER</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">N/A</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>6</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">SHARED VOTING POWER</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">1,097,012 shares of Common Stock</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>7</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">SOLE DISPOSITIVE POWER</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">N/A</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>8</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">SHARED DISPOSITIVE POWER</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">1,097,012 shares of Common Stock</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>9</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">1,097,012 shares of Common Stock</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>10</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">CERTAIN SHARES</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 5.5in">[ &#8239;&#8239;]&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>11</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">5.31% of the outstanding shares of Common Stock</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>12</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">TYPE OF REPORTING PERSON</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">OO (Limited Liability Company)</P></TD></TR>
  <TR>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 75%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="4" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%; border: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt">CUSIP NO.&#9;65342T106</FONT></TD>
    <TD STYLE="width: 33%; font-size: 11pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>13G</B></FONT></TD>
    <TD STYLE="width: 33%; border: Black 1pt solid; font-size: 11pt; text-align: center"><FONT STYLE="font-size: 11pt">Page 3 of 9 Pages</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="4" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>1</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">NAMES OF REPORTING PERSONS</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">M3 PARTNERS, LP</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>2</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 5in">(a) [   &#8239;&#8239;]</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 5in">(b) [   &#8239;&#8239;]</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>3</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">SEC USE ONLY</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>4</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">CITIZENSHIP OR PLACE OF ORGANIZATION</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">STATE OF DELAWARE, UNITED STATES OF AMERICA</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" ROWSPAN="4" STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NUMBER OF</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">SHARES</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">BENEFICIALLY</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">OWNED BY</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">EACH</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">REPORTING PERSON WITH</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>5</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">SOLE VOTING POWER</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">N/A</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>6</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">SHARED VOTING POWER</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">1,097,012  shares of Common Stock</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>7</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">SOLE DISPOSITIVE POWER</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">N/A</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>8</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">SHARED DISPOSITIVE POWER</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">1,097,012  shares of Common Stock</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>9</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">1,097,012  shares of Common Stock</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>10</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">CERTAIN SHARES</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 5.5in">[ &#8239;&#8239;]&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>11</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">5.31% of the outstanding shares of Common Stock</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>12</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">TYPE OF REPORTING PERSON</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">PN (Limited Partnership)</P></TD></TR>
  <TR>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 75%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="4" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%; border: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt">CUSIP NO.&#9;65342T106</FONT></TD>
    <TD STYLE="width: 33%; font-size: 11pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>13G</B></FONT></TD>
    <TD STYLE="width: 33%; border: Black 1pt solid; font-size: 11pt; text-align: center"><FONT STYLE="font-size: 11pt">Page 4 of 9 Pages</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="4" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>1</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">NAMES OF REPORTING PERSONS</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">M3F, INC.</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>2</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 5in">(a) [   &#8239;&#8239;]</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 5in">(b) [   &#8239;&#8239;]</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>3</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">SEC USE ONLY</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>4</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">CITIZENSHIP OR PLACE OF ORGANIZATION</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">STATE OF UTAH, UNITED STATES OF AMERICA</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" ROWSPAN="4" STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NUMBER OF</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">SHARES</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">BENEFICIALLY</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">OWNED BY</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">EACH</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">REPORTING PERSON WITH</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>5</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">SOLE VOTING POWER</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">N/A</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>6</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">SHARED VOTING POWER</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">1,097,012  shares of Common Stock</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>7</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">SOLE DISPOSITIVE POWER</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">N/A</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>8</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">SHARED DISPOSITIVE POWER</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">1,097,012  shares of Common Stock</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>9</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">1,097,012  shares of Common Stock</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>10</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">CERTAIN SHARES</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 5.5in">[ &#8239;&#8239;]&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>11</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">5.31% of the outstanding shares of Common Stock</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>12</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">TYPE OF REPORTING PERSON</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">CO, IA</P></TD></TR>
  <TR>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 75%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <DIV STYLE="margin-bottom: 6pt"><P STYLE="margin: 0pt; font: 9pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="4" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%; border: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt">CUSIP NO.&#9;65342T106</FONT></TD>
    <TD STYLE="width: 33%; font-size: 11pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>13G</B></FONT></TD>
    <TD STYLE="width: 33%; border: Black 1pt solid; font-size: 11pt; text-align: center"><FONT STYLE="font-size: 11pt">Page 5 of 9 Pages</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="4" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>1</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">NAMES OF REPORTING PERSONS</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Jason A. Stock</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>2</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 5in">(a) [   &#8239;&#8239;]</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 5in">(b) [   &#8239;&#8239;]</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>3</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">SEC USE ONLY</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>4</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">CITIZENSHIP OR PLACE OF ORGANIZATION</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">UNITED STATES OF AMERICA</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" ROWSPAN="4" STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NUMBER OF</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">SHARES</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">BENEFICIALLY</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">OWNED BY</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">EACH</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">REPORTING PERSON WITH</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>5</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">SOLE VOTING POWER</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">N/A</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>6</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">SHARED VOTING POWER</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">1,097,012  shares of Common Stock</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>7</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">SOLE DISPOSITIVE POWER</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">N/A</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>8</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">SHARED DISPOSITIVE POWER</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">1,097,012  shares of Common Stock</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>9</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">1,097,012  shares of Common Stock</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>10</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">CERTAIN SHARES</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 5.5in">[ &#8239;&#8239;]&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>11</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">5.31% of the outstanding Common Stock</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>12</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">TYPE OF REPORTING PERSON</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">IN</P></TD></TR>
  <TR>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 75%">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin-top: 0; margin-bottom: 0"></P>
<TABLE CELLSPACING="0" CELLPADDING="4" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%; border: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt">CUSIP NO.&#9;65342T106</FONT></TD>
    <TD STYLE="width: 33%; font-size: 11pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>13G</B></FONT></TD>
    <TD STYLE="width: 33%; border: Black 1pt solid; font-size: 11pt; text-align: center"><FONT STYLE="font-size: 11pt">Page 6 of 9 Pages</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="4" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>1</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">NAMES OF REPORTING PERSONS</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">William C. Waller</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>2</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 5in">(a) [   &#8239;&#8239;]</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 5in">(b) [   &#8239;&#8239;]</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>3</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">SEC USE ONLY</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>4</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">CITIZENSHIP OR PLACE OF ORGANIZATION</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">UNITED STATES OF AMERICA</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" ROWSPAN="4" STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NUMBER OF</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">SHARES</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">BENEFICIALLY</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">OWNED BY</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">EACH</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">REPORTING PERSON WITH</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>5</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">SOLE VOTING POWER</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">N/A</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>6</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">SHARED VOTING POWER</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">1,097,012  shares of Common Stock</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>7</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">SOLE DISPOSITIVE POWER</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">N/A</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>8</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">SHARED DISPOSITIVE POWER</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">1,097,012  shares of Common Stock</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>9</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">1,097,012  shares of Common Stock</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>10</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">CERTAIN SHARES</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 5.5in">[ &#8239;&#8239;]&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>11</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">5.31% of the outstanding Common Stock</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 11pt"><FONT STYLE="font-size: 11pt"><B>12</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">TYPE OF REPORTING PERSON</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">IN</P></TD></TR>
  <TR>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 75%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: left">Item 1.</TD><TD STYLE="text-align: justify">(a)&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Name of Issuer:</B></TD>
</TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">NI Holdings, Inc. (the &ldquo;Issuer&rdquo;)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Address
of Issuer's Principal Executive Offices:</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="background-color: white; font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">1101 First Avenue North</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">Fargo, ND 58102</P></TD>
    <TD STYLE="font-size: 11pt">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: left">Item 2.</TD><TD STYLE="text-align: justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Name of Persons Filing:</B></TD>
</TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">M3 Funds, LLC</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">M3 Partners, LP</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">M3F, Inc.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">Jason A. Stock</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">William C. Waller</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Address
of Principal Business Office or, if None, Residence:</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">For all persons filing:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">2070 E 2100 S, Suite 250</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">Salt Lake City, UT 84109</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Citizenship:</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">M3 Funds, LLC is a Delaware limited liability company</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">M3 Partners, LP is a Delaware limited partnership</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">M3F, Inc. is a Utah corporation</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">Mr. Stock and Mr. Waller are United States citizens</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Title
of Class of Securities:</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">Common Stock</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>CUSIP
Number:</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">65342T106</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in">Item 3.</TD><TD STYLE="text-align: justify"><B>If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person
Filing is a:</B></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0.5in">Not applicable. Filed pursuant to Rule 13d-1(c).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: left">Item 4.</TD><TD STYLE="text-align: justify"><B>Ownership.</B></TD>
</TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="2" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%; font-size: 11pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 14%">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>M3 Funds, LLC</B></P></TD>
    <TD STYLE="width: 14%">

    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>M3 Partners, LP</B></P></TD>
    <TD STYLE="width: 14%">

    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>M3F, Inc.</B></P></TD>
    <TD STYLE="width: 14%">

    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Jason A. Stock</B></P></TD>
    <TD STYLE="width: 14%">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>William C. Waller</B></P></TD></TR>
  <TR STYLE="vertical-align: top; background-color: Gainsboro">
    <TD STYLE="padding-left: 13.7pt; font-size: 11pt; text-indent: -13.7pt"><FONT STYLE="font-size: 11pt">(a)&#9;Amount Beneficially Owned:</FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: center"><FONT STYLE="font-size: 11pt">1,097,012  </FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: center"><FONT STYLE="font-size: 11pt">1,097,012  </FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: center"><FONT STYLE="font-size: 11pt">1,097,012  </FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: center"><FONT STYLE="font-size: 11pt">1,097,012  </FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: center"><FONT STYLE="font-size: 11pt">1,097,012  </FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 13.7pt; font-size: 11pt; text-indent: -13.7pt"><FONT STYLE="font-size: 11pt">(b)&#9;Percent of Class:</FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: center"><FONT STYLE="font-size: 11pt">5.31%</FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: center"><FONT STYLE="font-size: 11pt">5.31%</FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: center"><FONT STYLE="font-size: 11pt">5.31%</FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: center"><FONT STYLE="font-size: 11pt">5.31%</FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: center"><FONT STYLE="font-size: 11pt">5.31%</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: Gainsboro">
    <TD COLSPAN="3">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">(c)&nbsp;Number of Shares to Which Reporting Person Has:</P></TD>
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27.35pt; font-size: 11pt; text-indent: -0.25in"><FONT STYLE="font-size: 11pt">(i)&#9;Sole Voting Power:</FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: center"><FONT STYLE="font-size: 11pt">N/A</FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: center"><FONT STYLE="font-size: 11pt">N/A</FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: center"><FONT STYLE="font-size: 11pt">N/A</FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: center"><FONT STYLE="font-size: 11pt">N/A</FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: center"><FONT STYLE="font-size: 11pt">N/A</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: Gainsboro">
    <TD STYLE="padding-left: 27.35pt; font-size: 11pt; text-indent: -0.25in"><FONT STYLE="font-size: 11pt">(ii)&#9;Shared Voting Power:</FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: center"><FONT STYLE="font-size: 11pt">1,097,012  </FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: center"><FONT STYLE="font-size: 11pt">1,097,012  </FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: center"><FONT STYLE="font-size: 11pt">1,097,012  </FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: center"><FONT STYLE="font-size: 11pt">1,097,012  </FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: center"><FONT STYLE="font-size: 11pt">1,097,012  </FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 27.35pt; font-size: 11pt; text-indent: -0.25in"><FONT STYLE="font-size: 11pt">(iii)&#9;Sole Dispositive Power:</FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: center"><FONT STYLE="font-size: 11pt">N/A</FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: center"><FONT STYLE="font-size: 11pt">N/A</FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: center"><FONT STYLE="font-size: 11pt">N/A</FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: center"><FONT STYLE="font-size: 11pt">N/A</FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: center"><FONT STYLE="font-size: 11pt">N/A</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: Gainsboro">
    <TD STYLE="padding-left: 27pt; font-size: 11pt; text-indent: -0.25in"><FONT STYLE="font-size: 11pt">(iv)&#9;Shared Dispositive Power:</FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: center"><FONT STYLE="font-size: 11pt">1,097,012  </FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: center"><FONT STYLE="font-size: 11pt">1,097,012  </FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: center"><FONT STYLE="font-size: 11pt">1,097,012  </FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: center"><FONT STYLE="font-size: 11pt">1,097,012  </FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: center"><FONT STYLE="font-size: 11pt">1,097,012  </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0in">The reported shares are
the Issuer's common stock.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -1in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">All of the reported shares are owned directly
by M3 Partners, L.P. (&quot;M3 Partners&quot;), whose general partner is M3 Funds, LLC (the &quot;General Partner&quot;) and whose investment
adviser is M3F, Inc. (the &quot;Investment Adviser&quot;). The General Partner and the Investment Adviser could each be deemed to be indirect
beneficial owners of the reported shares, and could be deemed to share such beneficial ownership with M3 Partners.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -1in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0in">Jason A. Stock and William C. Waller are the managers of the General Partner and the managing directors of the Investment Adviser, and
could be deemed to share such indirect beneficial ownership with the General Partner, the Investment Adviser and M3 Partners.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: left">Item 5.</TD><TD STYLE="text-align: justify"><B>Ownership of Five Percent or Less of a Class.</B></TD>
</TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0in">If this statement is being
filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent
of the class of securities, check the following&nbsp;[   &#8239;&#8239;].</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: left">Item 6.</TD><TD STYLE="text-align: justify"><B>Ownership of More than Five Percent on Behalf of Another
Person.</B></TD>
</TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0in">Not applicable.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in">Item 7.</TD><TD STYLE="text-align: justify"><B>Identification and Classification of the Subsidiary That Acquired the Security Being Reported on by
the Parent Holding Company or Control Person.</B></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">Not applicable.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<!-- Field: Page; Sequence: 8 -->
    <DIV STYLE="margin-bottom: 6pt"><P STYLE="margin: 0pt; font: 9pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: left">Item 8.</TD><TD STYLE="text-align: justify"><B>Identification and Classification of Members of the Group.</B></TD>
</TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">Not applicable.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: left">Item 9.</TD><TD STYLE="text-align: justify"><B>Notice of Dissolution of Group.</B></TD>
</TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">Not applicable.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in">Item 10.</TD><TD><B>Certification.</B></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">By signing below, each of the undersigned
certifies that, to the best of his or its knowledge and belief, the securities referred to above were not acquired and are not held for
the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are
not held in connection with or as a participant in any transaction having that purpose or effect.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>Exhibits</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B><U>Exhibit 1</U></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in"><A HREF="fp0090373-1_ex1.htm">Joint Filing Agreement dated September 30, 2024, among M3 Partners, LP, M3 Funds, LLC, M3F, Inc., Jason A. Stock and William C. Waller.</A></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<!-- Field: Page; Sequence: 9 -->
    <DIV STYLE="margin-bottom: 6pt"><P STYLE="margin: 0pt; font: 9pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Signature</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">After reasonable inquiry and to
the best of each of the undersigned's knowledge and belief, each of the undersigned certifies that the information set forth in this Statement
is true, complete and correct.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="width: 5%; font-size: 11pt"><FONT STYLE="font-size: 11pt">Date: </FONT></TD>
    <TD STYLE="width: 35%">September 30, 2024</TD>
    <TD STYLE="width: 10%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD COLSPAN="2"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">M3 PARTNERS, LP</P>

</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">By:</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P></TD>
    <TD>M3 Funds, LLC, General Partner</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Jason A. Stock</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD>Name:</TD>
    <TD>Jason A. Stock</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD>
    Title:<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P></TD>
    <TD>Manager</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 11pt">Date: </FONT></TD>
    <TD>September 30, 2024</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD COLSPAN="2"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">M3 FUNDS, LLC</P>

</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">By:</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P></TD>
    <TD STYLE="border-bottom: Black 1pt solid"> /s/ Jason A. Stock</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD>Name:</TD>
    <TD>Jason A. Stock</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Manager</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 11pt">Date: </FONT></TD>
    <TD>September 30, 2024</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD COLSPAN="2"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">M3F, INC.</P>

</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">By: &#9;</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&#9;/s/ Jason A. Stock</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD>Name:</TD>
    <TD>Jason A. Stock</TD>
    <TD></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Managing Director</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 11pt">Date: </FONT></TD>
    <TD>September 30, 2024</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">/s/ Jason A. Stock&#9;&#9;</P>

</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 11pt"><FONT STYLE="font-size: 11pt">Jason A. Stock</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 11pt">Date: </FONT></TD>
    <TD>September 30, 2024</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">/s/ William C. Waller&#9;&#9;&#9;</P>

</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD COLSPAN="2"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">William C. Waller</P>

</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

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</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1
<SEQUENCE>2
<FILENAME>fp0090373-1_ex1.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 11pt Times New Roman, Times, Serif">

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B><U>EXHIBIT 1</U></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>JOINT FILING AGREEMENT</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">In accordance with Rule&nbsp;13d-1(k)
under the Securities Exchange Act of 1934, as amended, the undersigned agree to the joint filing on behalf of each of them of a Statement
on Schedule&nbsp;13G (including any and all amendments thereto) with respect to the Common Stock of NI Holdings, Inc. and further
agree that this Joint Filing Agreement shall be included as an Exhibit to such joint filings.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">The undersigned further agree
that each party hereto is responsible for the timely filing of such Statement on Schedule&nbsp;13G and any amendments thereto, and for
the accuracy and completeness of the information concerning such party contained therein; provided, however, that no party is responsible
for the accuracy or completeness of the information concerning any other party, unless such party knows or has reason to believe that
such information is inaccurate.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">This Joint Filing Agreement may
be signed in counterparts with the same effect as if the signature on each counterpart were upon the same instrument.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-bottom: 6pt"><P STYLE="margin: 0pt; font: 9pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-variant: small-caps"><B>In witness
whereof, </B></FONT>each of the undersigned has executed this Agreement as of September 30, 2024.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD COLSPAN="2"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">M3 PARTNERS, LP</P>

</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt; width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">By:</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P></TD>
    <TD STYLE="width: 35%">M3 Funds, LLC, General Partner</TD>
    <TD STYLE="width: 10%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Jason A. Stock</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD>Name:</TD>
    <TD>Jason A. Stock</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD>
    Title:<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P></TD>
    <TD>Manager</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD COLSPAN="2"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">M3 FUNDS, LLC</P>

</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">By:</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P></TD>
    <TD STYLE="border-bottom: Black 1pt solid"> /s/ Jason A. Stock</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD>Name:</TD>
    <TD>Jason A. Stock</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Manager</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD COLSPAN="2"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">M3F, INC.</P>

</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">By: &#9;</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&#9;/s/ Jason A. Stock</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD>Name:</TD>
    <TD>Jason A. Stock</TD>
    <TD></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Managing Director</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">/s/ Jason A. Stock&#9;&#9;</P>

</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 11pt"><FONT STYLE="font-size: 11pt">Jason A. Stock</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">/s/ William C. Waller&#9;&#9;&#9;</P>

</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD COLSPAN="2"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">William C. Waller</P>

</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
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