Loans Receivable and Allowance for Credit Losses

12 Months Ended

Dec. 31, 2024

Loans Receivable and Allowance for Credit Losses [Abstract]

Loans Receivable and Allowance for Credit Losses

NOTE 4 - LOANS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES

Set forth below is selected data relating to the composition of the loan portfolio (in thousands):




	December 31, 2024				December 31, 2023
Real Estate:
Residential	$	330,856	19.3	%	$	316,546	19.7	%
Commercial		716,875	41.8			675,156	42.1
Agricultural		63,488	3.7			63,859	4.0
Construction		53,020	3.1			51,453	3.2
Commercial loans		211,991	12.4			200,576	12.5
Other agricultural loans		30,077	1.7			31,966	2.0
Consumer loans to individuals		307,775	18.0			264,321	16.5
Total loans		1,714,082	100.0	%		1,603,877	100.0	%

Deferred fees, net		(444)				(259)
Total loans receivable		1,713,638				1,603,618
Allowance for credit losses		(19,843)				(18,968)
Net loans receivable	$	1,693,795			$	1,584,650

As of December 31, 2024 and 2023, the Company considered its concentration of credit risk to be acceptable. As of December 31, 2024, the highest concentrations are in commercial rentals and the residential rentals category, with loans outstanding of $156.2 million, or 9.1% of loans outstanding, to commercial rentals, and $114.7 million, or 6.7% of loans outstanding, to residential rentals. For the year ended December 31, 2024, the Company recognized charge offs of $0 on commercial rentals and $0 on residential rentals. For the year ended December 31, 2023, the Company recognized charge offs of $6,000 on commercial rentals and $44,000 on residential rentals.

During 2024, the Company sold residential mortgage loans totaling $9,257,000. During 2023, the Company sold residential mortgage loans totaling $4,973,000. Gross realized gains and gross realized losses on sales of residential mortgage loans were $195,000 and $0, respectively, in 2024 and $63,000 and $0, respectively, in 2023. The proceeds from the sales of residential mortgage loans totaled $9,452,000 and $5,036,000 for the years ended December 31, 2024 and 2023, respectively. As of December 31, 2024 and 2023, the outstanding value of loans serviced for others totaled $63.9 million and $59.2 million, respectively

The following tables show the amount of loans in each category that were individually and collectively evaluated for credit loss under ASC 326:


	Real Estate Loans
									Commercial			Other	Consumer
	Residential		Commercial			Agricultural	Construction		Loans			Agricultural	Loans		Total
	(In thousands)
December 31, 2024
Individually evaluated	$	940	$	7,197	$	—	$	—	$	854	$	—	$	1,031	$	10,022
Collectively evaluated		329,916		709,678		63,488		53,020		211,137		30,077		306,744		1,704,060
Total Loans	$	330,856	$	716,875	$	63,488	$	53,020	$	211,991	$	30,077	$	307,775	$	1,714,082


	Real Estate Loans
									Commercial			Other	Consumer
	Residential		Commercial			Agricultural	Construction		Loans			Agricultural	Loans		Total
	(In thousands)
December 31, 2023
Individually evaluated	$	432	$	2,211	$	—	$	—	$	4,264	$	—	$	715	$	7,622
Collectively evaluated		316,114		672,945		63,859		51,453		196,312		31,966		263,606		1,596,255
Total Loans	$	316,546	$	675,156	$	63,859	$	51,453	$	200,576	$	31,966	$	264,321	$	1,603,877

Management uses an eight point internal risk rating system to monitor the credit quality of the overall loan portfolio. The first four categories are considered not criticized, and are aggregated as “Pass” rated. The criticized rating categories utilized by management generally follow bank regulatory definitions. The Special Mention category includes assets that are currently protected but are potentially weak, resulting in an undue and unwarranted credit risk, but not to the point of justifying a Substandard classification. Loans in the Substandard category have well-defined weaknesses that jeopardize the liquidation of the debt, and have a distinct possibility that some loss will be sustained if the weaknesses are not corrected. Loans greater than 90 days past due are considered Substandard unless full payment is expected. Any portion of a loan that has been charged off is placed in the Loss category.

To help ensure that risk ratings are accurate and reflect the present and future capacity of borrowers to repay a loan as agreed, the Company has a structured loan rating process with several layers of internal and external oversight. Generally, consumer and residential mortgage loans are included in the Pass categories unless a specific action, such as nonperformance, repossession, or death occurs to raise awareness of a possible credit event. The Company’s Loan Review Department is responsible for the timely and accurate risk rating of the loans on an ongoing basis. Every credit which must be approved by Loan Committee or the Board of Directors is assigned a risk rating at time of consideration. Loan Review also annually reviews relationships of $1,500,000 and over to assign or re-affirm risk ratings.

‎

Based on the most recent analysis performed, the following tables present the recorded investment in non-homogenous pools by internal risk rating systems, under ASC 326 (in thousands):


														Revolving		Revolving
	Term Loans Amortized Costs Basis by Origination Year													Loans		Loans
														Amortized		Converted
December 31, 2024		2024		2023		2022		2021		2020		Prior		Cost Basis		to Term		Total
Commercial real estate
Risk Rating
Pass	$	102,773	$	74,242	$	121,881	$	104,720	$	60,941	$	217,435	$	20,829	$	-	$	702,821
Special Mention		5		-		262		-		-		2,148		-		-		2,415
Substandard		135		-		-		2,461		1,405		7,238		400		-		11,639
Doubtful		-		-		-		-		-		-		-		-		-
Total	$	102,913	$	74,242	$	122,143	$	107,181	$	62,346	$	226,821	$	21,229	$	-	$	716,875

Commercial real estate
Current period gross charge-offs	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-

Real Estate - Agriculture
Risk Rating
Pass	$	6,257	$	3,756	$	12,036	$	3,960	$	7,148	$	29,038	$	336	$	-	$	62,531
Special Mention		-		-		-		-		-		773		150		-		923
Substandard		-		-		-		-		-		-		34		-		34
Doubtful		-		-		-		-		-		-		-		-		-
Total	$	6,257	$	3,756	$	12,036	$	3,960	$	7,148	$	29,811	$	520	$	-	$	63,488

Real Estate - Agriculture
Current period gross charge-offs	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-

Commercial loans
Risk Rating
Pass	$	57,939	$	34,088	$	29,465	$	19,163	$	10,233	$	15,042	$	42,906	$	-	$	208,836
Special Mention		-		-		25		-		-		106		14		-		145
Substandard		-		277		429		711		-		743		850		-		3,010
Doubtful		-		-		-		-		-		-		-		-		-
Total	$	57,939	$	34,365	$	29,919	$	19,874	$	10,233	$	15,891	$	43,770	$	-	$	211,991

Commercial loans
Current period gross charge-offs	$	-	$	11	$	-	$	-	$	8	$	51	$	30	$	-	$	100

Other agricultural loans
Risk Rating
Pass	$	4,358	$	1,836	$	3,721	$	2,379	$	2,134	$	4,353	$	9,697	$	-	$	28,478
Special Mention		-		-		-		-		-		127		-		-		127
Substandard		-		-		-		-		-		-		1,472		-		1,472
Doubtful		-		-		-		-		-		-		-		-		-
Total	$	4,358	$	1,836	$	3,721	$	2,379	$	2,134	$	4,480	$	11,169	$	-	$	30,077

Other agricultural loans
Current period gross charge-offs	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-

Total
Risk Rating
Pass	$	171,327	$	113,922	$	167,103	$	130,222	$	80,456	$	265,868	$	73,768	$	-	$	1,002,666
Special Mention		5		-		287		-		-		3,154		164		-		3,610
Substandard		135		277		429		3,172		1,405		7,981		2,756		-		16,155
Doubtful		-		-		-		-		-		-		-		-		-
Total	$	171,467	$	114,199	$	167,819	$	133,394	$	81,861	$	277,003	$	76,688	$	-	$	1,022,431


														Revolving		Revolving
	Term Loans Amortized Costs Basis by Origination Year													Loans		Loans
														Amortized		Converted
December 31, 2023		2023		2022		2021		2020		2019		Prior		Cost Basis		to Term		Total
Commercial real estate
Risk Rating
Pass	$	78,496	$	131,948	$	112,102	$	65,949	$	72,480	$	186,116	$	13,332	$	-	$	660,423
Special Mention		1,300		411		243		1,331		-		6,157		1,579		-		11,021
Substandard		-		-		-		1,444		36		2,232		-		-		3,712
Doubtful		-		-		-		-		-		-		-		-		-
Total	$	79,796	$	132,359	$	112,345	$	68,724	$	72,516	$	194,505	$	14,911	$	-	$	675,156

Commercial real estate
Current period gross charge-offs	$	-	$	-	$	-	$	-	$	112	$	42	$	-	$	-	$	154

Real Estate - Agriculture
Risk Rating
Pass	$	2,635	$	12,509	$	5,433	$	7,606	$	7,746	$	24,654	$	522	$	-	$	61,105
Special Mention		-		-		-		-		399		490		150		-		1,039
Substandard		-		508		-		1,018		-		189		-		-		1,715
Doubtful		-		-		-		-		-		-		-		-		-
Total	$	2,635	$	13,017	$	5,433	$	8,624	$	8,145	$	25,333	$	672	$	-	$	63,859

Real Estate - Agriculture
Current period gross charge-offs	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-

Commercial loans
Risk Rating
Pass	$	48,571	$	41,863	$	24,443	$	13,752	$	9,914	$	15,384	$	38,644	$	-	$	192,571
Special Mention		553		1,412		257		134		20		188		768		-		3,332
Substandard		-		126		342		656		-		49		3,500		-		4,673
Doubtful		-		-		-		-		-		-		-		-		-
Total	$	49,124	$	43,401	$	25,042	$	14,542	$	9,934	$	15,621	$	42,912	$	-	$	200,576

Commercial loans
Current period gross charge-offs	$	-	$	32	$	24	$	4,856	$	-	$	41	$	-	$	-	$	4,953

Other agricultural loans
Risk Rating
Pass	$	2,670	$	5,286	$	3,251	$	2,912	$	2,373	$	3,836	$	11,091	$	-	$	31,419
Special Mention		-		-		2		185		86		-		155		-		428
Substandard		-		-		-		-		119		-		-		-		119
Doubtful		-		-		-		-		-		-		-		-		-
Total	$	2,670	$	5,286	$	3,253	$	3,097	$	2,578	$	3,836	$	11,246	$	-	$	31,966

Other agricultural loans
Current period gross charge-offs	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-

Total
Risk Rating
Pass	$	132,372	$	191,606	$	145,229	$	90,219	$	92,513	$	229,990	$	63,589	$	-	$	945,518
Special Mention		1,853		1,823		502		1,650		505		6,835		2,652		-		15,820
Substandard		-		634		342		3,118		155		2,470		3,500		-		10,219
Doubtful		-		-		-		-		-		-		-		-		-
Total	$	134,225	$	194,063	$	146,073	$	94,987	$	93,173	$	239,295	$	69,741	$	-	$	971,557

The Company monitors the credit risk profile by payment activity for residential and consumer loan classes. Loans past due over 90 days and loans on nonaccrual status are considered nonperforming. Nonperforming loans are reviewed monthly. The following tables present the carrying value of residential and consumer loans based on payment activity (in thousands):


														Revolving		Revolving
	Term Loans Amortized Costs Basis by Origination Year													Loans		Loans
														Amortized		Converted
December 31, 2024		2024		2023		2022		2021		2020		Prior		Cost Basis		to Term		Total
Residential real estate
Payment Performance
Performing	$	22,842	$	41,384	$	60,194	$	52,712	$	32,161	$	89,965	$	30,658	$	-	$	329,916
Nonperforming		-		125		52		184		-		560		19		-		940
Total	$	22,842	$	41,509	$	60,246	$	52,896	$	32,161	$	90,525	$	30,677	$	-	$	330,856

Residential real estate
Current period gross charge-offs	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-

Construction
Payment Performance
Performing	$	28,817	$	12,986	$	9,024	$	431	$	-	$	144	$	1,618	$	-	$	53,020
Nonperforming		-		-		-		-		-		-		-		-		-
Total	$	28,817	$	12,986	$	9,024	$	431	$	-	$	144	$	1,618	$	-	$	53,020

Construction
Current period gross charge-offs	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-

Consumer loans to individuals
Payment Performance
Performing	$	125,254	$	93,392	$	52,009	$	15,679	$	8,316	$	11,207	$	887	$	-	$	306,744
Nonperforming		97		401		377		114		26		16		-		-		1,031
Total	$	125,351	$	93,793	$	52,386	$	15,793	$	8,342	$	11,223	$	887	$	-	$	307,775

Consumer loans to individuals
Current period gross charge-offs	$	123	$	511	$	850	$	203	$	87	$	75	$	-	$	-	$	1,849

Total
Payment Performance
Performing	$	176,913	$	147,762	$	121,227	$	68,822	$	40,477	$	101,316	$	33,163	$	-	$	689,680
Nonperforming		97		526		429		298		26		576		19		-		1,971
Total	$	177,010	$	148,288	$	121,656	$	69,120	$	40,503	$	101,892	$	33,182	$	-	$	691,651


														Revolving		Revolving
	Term Loans Amortized Costs Basis by Origination Year													Loans		Loans
														Amortized		Converted
December 31, 2023		2023		2022		2021		2020		2019		Prior		Cost Basis		to Term		Total
Residential real estate
Payment Performance
Performing	$	27,446	$	62,178	$	57,691	$	35,357	$	16,406	$	87,951	$	29,085	$	-	$	316,114
Nonperforming		-		-		-		-		58		324		50		-		432
Total	$	27,446	$	62,178	$	57,691	$	35,357	$	16,464	$	88,275	$	29,135	$	-	$	316,546

Residential real estate
Current period gross charge-offs	$	-	$	-	$	-	$	-	$	-	$	34	$	-	$	-	$	34

Construction
Payment Performance
Performing	$	23,500	$	14,906	$	6,791	$	1,599	$	1,829	$	624	$	2,204	$	-	$	51,453
Nonperforming		-		-		-		-		-		-		-		-		-
Total	$	23,500	$	14,906	$	6,791	$	1,599	$	1,829	$	624	$	2,204	$	-	$	51,453

Construction
Current period gross charge-offs	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-

Consumer loans to individuals
Payment Performance
Performing	$	127,243	$	76,339	$	24,584	$	14,343	$	10,217	$	9,942	$	938	$	-	$	263,606
Nonperforming		111		404		118		31		41		10		-		-		715
Total	$	127,354	$	76,743	$	24,702	$	14,374	$	10,258	$	9,952	$	938	$	-	$	264,321

Consumer loans to individuals
Current period gross charge-offs	$	45	$	710	$	200	$	35	$	45	$	28	$	4	$	-	$	1,067

Total
Payment Performance
Performing	$	178,189	$	153,423	$	89,066	$	51,299	$	28,452	$	98,517	$	32,227	$	-	$	631,173
Nonperforming		111		404		118		31		99		334		50		-		1,147
Total	$	178,300	$	153,827	$	89,184	$	51,330	$	28,551	$	98,851	$	32,277	$	-	$	632,320

Management further monitors the performance and credit quality of the loan portfolio by analyzing the age of the portfolio as determined by the length of time a recorded payment is past due. The following tables present the classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans as of December 31, 2024 and December 31, 2023 (in thousands):


	Current		31-60 Days Past Due		61-90 Days Past Due		Greater than 90 Days Past Due and still accruing		Non-Accrual		Total Past Due and Non-Accrual		Total Loans
December 31, 2024
Real Estate loans
Residential	$	329,578	$	70	$	268	$	—	$	940	$	1,278	$	330,856
Commercial		709,821		1,182		129		—		5,743		7,054		716,875
Agricultural		63,488		—		—		—		—		—		63,488
Construction		53,009		11		—		—		—		11		53,020
Commercial loans		211,520		194		117		33		127		471		211,991
Other agricultural loans		30,028		49		—		—		—		49		30,077
Consumer loans		305,676		805		263		121		910		2,099		307,775
Total	$	1,703,120	$	2,311	$	777	$	154	$	7,720	$	10,962	$	1,714,082



	Current		31-60 Days Past Due		61-90 Days Past Due		Greater than 90 Days Past Due and still accruing		Non-Accrual		Total Past Due and Non-Accrual		Total Loans
December 31, 2023
Real Estate loans
Residential	$	315,224	$	877	$	13	$	—	$	432	$	1,322	$	316,546
Commercial		666,768		6,177		—		—		2,211		8,388		675,156
Agricultural		63,732		127		—		—		—		127		63,859
Construction		51,435		—		18		—		—		18		51,453
Commercial loans		192,988		3,170		154		—		4,264		7,588		200,576
Other agricultural loans		31,959		7		—		—		—		7		31,966
Consumer loans		262,578		865		163		—		715		1,743		264,321
Total	$	1,584,684	$	11,223	$	348	$	—	$	7,622	$	19,193	$	1,603,877

The following tables present the carrying value of loans on nonaccrual status and loans past due over 90 days still accruing interest (in thousands):


		Nonaccrual		Nonaccrual				Loans Past Due
		with no		with		Total		Over 90 Days		Total
	ACL		ACL		Nonaccrual		Still Accruing		Nonperforming
December 31, 2024
Real Estate loans
Residential	$	936	$	4	$	940	$	-	$	940
Commercial		5,739		4		5,743		-		5,743
Agricultural		-		-		-		-		-
Construction		-		-		-		-		-
Commercial loans		127		-		127		33		160
Other agricultural loans		-		-		-		-		-
Consumer loans		570		340		910		121		1,031
Total	$	7,372	$	348	$	7,720	$	154	$	7,874


		Nonaccrual		Nonaccrual				Loans Past Due
		with no		with		Total		Over 90 Days		Total
	ACL		ACL		Nonaccrual		Still Accruing		Nonperforming
December 31, 2023
Real Estate loans
Residential	$	432	$	-	$	432	$	-	$	432
Commercial		2,211		-		2,211		-		2,211
Agricultural		-		-		-		-		-
Construction		-		-		-		-		-
Commercial loans		4,264		-		4,264		-		4,264
Other agricultural loans		-		-		-		-		-
Consumer loans		162		553		715		-		715
Total	$	7,069	$	553	$	7,622	$	-	$	7,622

The following tables present, by class of loans and leases, the amortized cost basis of collateral-dependent nonaccrual loans and leases and type of collateral as of December 31, 2024:


	Real Estate		Other		Total
December 31, 2024
Real Estate loans
Residential	$	940	$	-	$	940
Commercial		5,743		-		5,743
Agricultural		-		-		-
Construction		-		-		-
Commercial loans		49		78		127
Other agricultural loans		-		-		-
Consumer loans		-		910		910
Total	$	6,732	$	988	$	7,720


	Real Estate		Other		Total
December 31, 2023
Real Estate loans
Residential	$	432	$	-	$	432
Commercial		2,211		-		2,211
Agricultural		-		-		-
Construction		-		-		-
Commercial loans		49		4,215		4,264
Other agricultural loans		-		-		-
Consumer loans		-		715		715
Total	$	2,692	$	4,930	$	7,622

The following tables present the allowance for credit losses by the classes of the loan portfolio under ASC 326:



(In thousands)	Residential Real Estate		Commercial Real Estate		Agricultural		Construction		Commercial		Other Agricultural		Consumer		Total
Beginning balance, December 31, 2023	$	1,351	$	11,871	$	58	$	933	$	1,207	$	94	$	3,454	$	18,968
Charge Offs		—		—		—		—		(100)		—		(1,849)		(1,949)
Recoveries		41		110		—		—		—		—		127		278
Provision for credit losses		(246)		(575)		(10)		(49)		625		68		2,733		2,546
Ending balance, December 31, 2024	$	1,146	$	11,406	$	48	$	884	$	1,732	$	162	$	4,465	$	19,843
Ending balance individually evaluated	$	4	$	315	$	—	$	—	$	—	$	—	$	340	$	659
Ending balance collectively evaluated ‎	$	1,142	$	11,091	$	48	$	884	$	1,732	$	162	$	4,125	$	19,184



(In thousands)	Residential Real Estate		Commercial Real Estate		Agricultural		Construction		Commercial		Other Agricultural		Consumer		Total
Beginning balance, December 31, 2022	$	2,833	$	8,293	$	259	$	409	$	2,445	$	124	$	2,636	$	16,999
Impact of adopting ASC 326		(1,545)		5,527		(200)		388		(1,156)		3		(551)		2,466
Charge Offs		(34)		(154)		—		—		(4,953)		—		(1,067)		(6,208)
Recoveries		6		15		—		—		21		—		88		130
Provision for credit losses		91		(1,810)		(1)		136		4,850		(33)		2,348		5,581
Ending balance, December 31, 2023	$	1,351	$	11,871	$	58	$	933	$	1,207	$	94	$	3,454	$	18,968
Ending balance individually evaluated	$	—	$	—	$	—	$	—	$	—	$	—	$	135	$	135
Ending balance collectively evaluated ‎	$	1,351	$	11,871	$	58	$	933	$	1,207	$	94	$	3,319	$	18,833

The cumulative loss rate used as the basis for the estimate of credit losses is comprised of the Company’s historical loss experience and peer data. The Company chose to apply qualitative factors based on “quantitative metrics” which link the quantifiable metrics to historical changes in the qualitative factor categories. The Company also chose to apply economic projections to the model. A select group of economic indicators was utilized which was then correlated to the historical loss experience of the Company and its peers. Based on the correlation results, the economic adjustments are then weighted for relevancy and applied to the individual loan pools.

During the period ended December 31, 2024, the allowance for credit losses increased from $18,968,000 to $19,843,000. This $875,000 increase in the required allowance was due primarily to loans individually evaluated, along with net charge offs for the year.

During the period ended December 31, 2023, the allowance for credit losses increased from $16,999,000 to $18,968,000. This $1,969,000 increase in the required allowance was due primarily to charge-offs on one large commercial relationship.

Interest income that would have been recorded on loans accounted for on a non-accrual basis under the original terms of the loans was $716,000 and $694,000 for 2024 and 2023, respectively.

Occasionally, the Bank modifies loans to borrowers in financial distress by providing principal forgiveness, term extension, an other-than-insignificant payment delay or interest rate reduction. When principal forgiveness is provided, the amount of forgiveness is charged-off against the allowance for credit losses.

In some cases, the Bank provides multiple types of concessions on one loan. Typically, one type of concession, such as a term extension, is granted initially. If the borrower continues to experience financial difficulty, another concession, such as principal forgiveness, may be granted. The following tables present modifications made to borrowers experiencing financial difficulty:


Loan Modifications Made to Borrowers Experiencing Financial Difficulty During the Year Ended December 31, 2024

Significant Payment Delay

		Amortized Cost Basis at December 31, 2024	% of Total Class of Financing Receivable		Financial Effect
		(in thousands)
Residential real estate loans	$	53	0.02	%	Deferred principal for 4 months
Commercial real estate loans		1,424	0.20		Deferred principal for 2-5 months
Commercial loans		875	0.41		Deferred principal for 2-5 months

Total	$	2,352

Term Extension

		Amortized Cost Basis at December 31, 2024	% of Total Class of Financing Receivable		Financial Effect
		(in thousands)
Residential real estate loans	$	68	0.02	%	Added a weighted-average 5.0 years to the life of loans
Commercial real estate loans		540	0.08		Added a weighted-average 9.5 months to the life of loans
Agricultural real estate loans		565	0.89		Added a weighted-average 20 years to the life of loans
Other agricultural loans		300	1.00		Added a weighted-average 1 year to the life of loans
Consumer loans to individuals		51	0.02		Added a weighted-average 1.4 years to the life of loans

Total	$	1,524


Combination -Significant Payment Delay and Term Extension

		Amortized Cost Basis at December 31, 2024	% of Total Class of Financing Receivable		Financial Effect

Commercial real estate loans	$	3,779	0.53	%	Deferred principal for 6 months and extended term by 4 months

Total	$	3,779


Loan Modifications Made to Borrowers Experiencing Financial Difficulty During the Year Ended December 31, 2023

Term Extension

		Amortized Cost Basis at December 31, 2023	% of Total Class of Financing Receivable		Financial Effect

Commercial real estate loans	$	4,321,547	0.64	%	Extended maturity date of loans by three to six months.

Total	$	4,321,547


Combination - Term Extension and Interest Rate Adjustment

		Amortized Cost Basis at December 31, 2023	% of Total Class of Financing Receivable		Financial Effect

Consumer loans to individuals	$	19,225	0.01	%	New loans were granted which extended terms for a weighted average of 34 months and rates were increased from a weighted average rate of 5.25% to a weighted average rate of 11.03%

Total	$	19,225

As of December 31, 2024, all loan modifications made to borrowers experiencing financial difficulty were current per the modified contractual terms.