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SUBSEQUENT EVENTS
3 Months Ended
Mar. 31, 2026
SUBSEQUENT EVENTS  
SUBSEQUENT EVENTS

13. SUBSEQUENT EVENTS

On April 15, 2026, the Company redeemed in full the $25.0 million in aggregate principal amount of its outstanding floating rate subordinated notes, originally maturing on October 15, 2030, for a total redemption price of $25.0 million plus accrued interest of $534 thousand. As a result of this redemption, the Company recorded a loss on debt extinguishment of $240 thousand in the second quarter of 2026 representing the acceleration and write-off of the remaining unamortized debt issuance costs. The redemption was funded using a portion of the net proceeds from the $35.0 million subordinated notes that the Company issued on March 12, 2026.