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Loans and Allowance for Credit Losses (Tables)

9 Months Ended

Sep. 30, 2025

Receivables [Abstract]

Schedule of Loans

Loans consisted of the following as of the dates indicated below:

Schedule of Loans

		September 30,				December 31,
(Dollars in thousands)		2025				2024
One-to-four family residential real estate loans		$	381,641			$	352,209
Construction and land loans			19,741				25,328
Commercial real estate loans			389,574				345,159
Commercial loans			186,656				192,325
Agriculture loans			99,897				100,562
Municipal loans			6,884				7,091
Consumer loans			33,660				29,679
Total gross loans			1,118,053				1,052,353
Net deferred loan fees and loans in process			(763	)			(307	)
Allowance for credit losses			(12,299	)			(12,825	)
Loans, net		$	1,104,991			$	1,039,221

Schedule of Allowance for Credit Losses on Financing Receivables

The following tables provide information on the Company’s allowance for credit losses by loan class and allowance methodology for the three and nine months ended September 30, 2025 and 2024:

Schedule of Allowance for Credit Losses on Financing Receivables

		Three months and nine months ended September 30, 2025
(Dollars in thousands)		One-to-four family residential real estate loans				Construction and land loans				Commercial real estate loans				Commercial loans				Agriculture loans				Municipal loans				Consumer loans				Total
Allowance for credit losses:
Balance at July 1, 2025		$	1,788			$	131			$	5,076			$	5,283			$	1,267			$	45			$	172			$	13,762
Charge-offs			-				-				-				(2,268	)			-				-				(112	)			(2,380	)
Recoveries			-				-				-				2				-				-				65				67
Provision for credit losses			265				(32	)			273				284				(10	)			-				70				850
Balance at September 30, 2025		$	2,053			$	99			$	5,349			$	3,301			$	1,257			$	45			$	195			$	12,299
Allowance for credit losses:
Balance at January 1, 2025		$	1,765			$	143			$	4,506			$	4,964			$	1,227			$	51			$	169			$	12,825
Charge-offs			-				-				-				(2,287	)			-				-				(304	)			(2,591	)
Recoveries			-				5				-				16				-				6				188				215
Provision for credit losses			288				(49	)			843				608				30				(12	)			142				1,850
Balance at September 30, 2025		$	2,053			$	99			$	5,349			$	3,301			$	1,257			$	45			$	195			$	12,299

		Three months and nine months ended September 30, 2024
(Dollars in thousands)		One-to-four family residential real estate loans				Construction and land loans				Commercial real estate loans				Commercial loans				Agriculture loans				Municipal loans				Consumer loans				Total
Allowance for credit losses:
Balance at July 1, 2024		$	2,020			$	220			$	4,515			$	2,778			$	1,118			$	55			$	197			$	10,903
Charge-offs			-				-				-				(22	)			-				-				(131	)			(153	)
Recoveries			-				45				-				8				54				-				37				144
Provision for credit losses			(30	)			(109	)			38				611				50				2				88				650
Balance at September 30, 2024		$	1,990			$	156			$	4,553			$	3,375			$	1,222			$	57			$	191			$	11,544

(Dollars in thousands)		One-to-four family residential real estate loans				Construction and land loans				Commercial real estate loans				Commercial loans				Agriculture loans				Municipal loans				Consumer loans				Total
Allowance for credit losses:
Balance at January 1, 2024		$	2,035			$	150			$	4,518			$	2,486			$	1,190			$	15			$	214			$	10,608
Balance		$	2,035			$	150			$	4,518			$	2,486			$	1,190			$	15			$	214			$	10,608
Charge-offs			-				-				-				(105	)			-				-				(308	)			(413	)
Recoveries			-				245				-				28				54				12				110				449
Provision for credit losses			(45	)			(239	)			35				966				(22	)			30				175				900
Balance at September 30, 2024		$	1,990			$	156			$	4,553			$	3,375			$	1,222			$	57			$	191			$	11,544
Balance		$	1,990			$	156			$	4,553			$	3,375			$	1,222			$	57			$	191			$	11,544

Schedule of Non-accrual and Loans Past Due Over 89 Days Still Accruing

The following table presents information regarding non-accrual and loans past due over 89 days and still accruing as of the dates indicated:

Schedule of Non-accrual and Loans Past Due Over 89 Days Still Accruing

		Non-accrual with no allowance for credit loss				Non-accrual with allowance for credit losses				Loans past due over 89 days still accruing
(Dollars in thousands)		As of September 30, 2025
		Non-accrual with no allowance for credit loss				Non-accrual with allowance for credit losses				Loans past due over 89 days still accruing
One-to-four family residential real estate loans		$	497			$	158			$	-
Commercial real estate loans			4,655				-				-
Commercial loans			1,804				2,855				-
Agriculture loans			-				30				-
Total loans		$	6,956			$	3,043			$	-

		Non-accrual with no allowance for credit loss				Non-accrual with allowance for credit losses				Loans past due over 89 days still accruing
(Dollars in thousands)		As of December 31, 2024
		Non-accrual with no allowance for credit loss				Non-accrual with allowance for credit losses				Loans past due over 89 days still accruing
One-to-four family residential real estate loans		$	34			$	-			$	-
Commercial real estate loans			782				-				-
Commercial loans			314				10,939				-
Agriculture loans			1,046				-				-
Total loans		$	2,176			$	10,939			$	-

Schedule of Amortized Cost Basis and Collateral Type of Collateral Dependent Loans

Schedule of Amortized Cost Basis and Collateral Type of Collateral Dependent Loans

(Dollars in thousands)		As of September 30, 2025
		Loan balance				Collateral Type
One-to-four family residential real estate loans		$	655			First mortgage on residential real estate
Commercial real estate loans			4,270			First mortgage on commercial real estate
Commercial loans			4,758			Various business asset including real estate
Agriculture loans			30			Crops, livestock, machinery and real estate
Total loans		$	9,713

(Dollars in thousands)		As of December 31, 2024
		Loan balance				Collateral Type
One-to-four family residential real estate loans		$	34			First mortgage on residential real estate
Commercial real estate loans			782			First mortgage on commercial real estate
Commercial loans			3,150			Various business asset including real estate
Agriculture loans			1,456			Crops, livestock, machinery and real estate
Total loans		$	5,422

Schedule of Past Due and Non-accrual Loans by Loan Class

The following tables present information regarding the Company’s past due and non-accrual loans by loan class, as of the dates indicated:

Schedule of Past Due and Non-accrual Loans by Loan Class

		30-59 days delinquent and accruing				60-89 days delinquent and accruing				90 days or more delinquent and accruing				Total past due loans accruing				Non-accrual loans				Total past due and non-accrual loans				Total loans not past due
(Dollars in thousands)		As of September 30, 2025
		30-59 days delinquent and accruing				60-89 days delinquent and accruing				90 days or more delinquent and accruing				Total past due loans accruing				Non-accrual loans				Total past due and non-accrual loans				Total loans not past due
One-to-four family residential real estate loans		$	1,242			$	214			$	-			$	1,456			$	655			$	2,111			$	379,530
Construction and land loans			279				-				-				279				-				279				19,462
Commercial real estate loans			892				-				-				892				4,655				5,547				384,027
Commercial loans			1,941				57				-				1,998				4,659				6,657				179,999
Agriculture loans			-				25				-				25				30				55				99,842
Municipal loans			-				-				-				-				-				-				6,884
Consumer loans			90				113				-				203				-				203				33,457
Total		$	4,444			$	409			$	-			$	4,853			$	9,999			$	14,852			$	1,103,201
Percent of gross loans			0.40	%			0.04	%			0.00	%			0.44	%			0.89	%			1.33	%			98.67	%

(Dollars in thousands)		As of December 31, 2024
		30-59 days delinquent and accruing				60-89 days delinquent and accruing				90 days or more delinquent and accruing				Total past due loans accruing				Non-accrual loans				Total past due and non-accrual loans				Total loans not past due
One-to-four family residential real estate loans		$	115			$	323			$	-			$	438			$	34			$	472			$	351,737
Construction and land loans			-				118				-				118				-			$	118				25,210
Commercial real estate loans			1,083				3,081				-				4,164				782			$	4,946				340,213
Commercial loans			500				59				-				559				11,253			$	11,812				180,513
Agriculture loans			864				-				-				864				1,046			$	1,910				98,652
Municipal loans			-				-				-				-				-			$	-				7,091
Consumer loans			33				25				-				58				-			$	58				29,621
Total		$	2,595			$	3,606			$	-			$	6,201			$	13,115			$	19,316			$	1,033,037
Percent of gross loans			0.25	%			0.34	%			0.00	%			0.59	%			1.25	%			1.84	%			98.16	%

Schedule of Loans by Risk Category by Type and Year of Origination

The following table presents information regarding the Company’s risk category of loans by type and year of origination, as of the dates indicated:

Schedule of Loans by Risk Category by Type and Year of Origination

(Dollars in thousands)		As of September 30, 2025
		2025				2024				2023				2022				2021				Prior				Revolving loans amortized cost				Revolving loans converted to term				Total
One-to-four family residential real estate loans
Nonclassified		$	64,804			$	78,991			$	79,555			$	67,894			$	32,930			$	49,678			$	7,048			$	86			$	380,986
Classified		$	-			$	158			$	417			$	-			$	-			$	80			$	-			$	-				655
Total		$	64,804			$	79,149			$	79,972			$	67,894			$	32,930			$	49,758			$	7,048			$	86			$	381,641
Gross charge-offs		$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-
Construction and land loans
Nonclassified		$	6,325			$	3,627			$	2,557			$	1,775			$	1,617			$	3,740			$	100			$	-			$	19,741
Classified			-				-				-				-				-				-				-				-				-
Total		$	6,325			$	3,627			$	2,557			$	1,775			$	1,617			$	3,740			$	100			$	-			$	19,741
Gross charge-offs		$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-
Commercial real estate loans
Nonclassified		$	61,573			$	55,997			$	58,404			$	57,322			$	51,848			$	93,009			$	2,937			$	29				381,119
Classified			135				1,184				-				282				445				6,409				-				-				8,455
Total		$	61,708			$	57,181			$	58,404			$	57,604			$	52,293			$	99,418			$	2,937			$	29			$	389,574
Gross charge-offs		$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-
Commercial loans
Nonclassified		$	26,520			$	34,063			$	17,607			$	17,711			$	8,037			$	6,476			$	61,469			$	114			$	171,997
Classified			2,576				2,103				1,400				1,936				30				3,608				2,449				557				14,659
Total		$	29,096			$	36,166			$	19,007			$	19,647			$	8,067			$	10,084			$	63,918			$	671			$	186,656
Gross charge-offs		$	-			$	2,276			$	-			$	-			$	11			$	-			$	-			$	-			$	2,287
Agriculture loans
Nonclassified		$	8,965			$	12,503			$	2,543			$	6,000			$	3,183			$	12,527			$	49,740			$	224			$	95,685
Classified			47				1,630				-				1,291				91				26				1,127				-				4,212
Total		$	9,012			$	14,133			$	2,543			$	7,291			$	3,274			$	12,553			$	50,867			$	224			$	99,897
Gross charge-offs		$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-
Municipal loans
Nonclassified		$	-			$	-			$	5,552			$	58			$	-			$	1,274			$	-			$	-			$	6,884
Classified			-				-				-				-				-				-				-				-				-
Total		$	-			$	-			$	5,552			$	58			$	-			$	1,274			$	-			$	-			$	6,884
Gross charge-offs		$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-
Consumer loans
Nonclassified		$	5,469			$	1,743			$	2,731			$	466			$	816			$	2,661			$	19,624			$	150			$	33,660
Classified			-				-				-				-				-				-				-				-				-
Total		$	5,469			$	1,743			$	2,731			$	466			$	816			$	2,661			$	19,624			$	150			$	33,660
Gross charge-offs		$	304			$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	304
Total loans
Nonclassified		$	173,656			$	186,924			$	168,949			$	151,226			$	98,431			$	169,365			$	140,918			$	603			$	1,090,072
Classified			2,758				5,075				1,817				3,509				566				10,123				3,576				557				27,981
Total		$	176,414			$	191,999			$	170,766			$	154,735			$	98,997			$	179,488			$	144,494			$	1,160			$	1,118,053
Gross charge-offs for the nine months
ended September 30, 2025		$	304			$	2,276			$	-			$	-			$	11			$	-			$	-			$	-			$	2,591
Gross charge-offs for the nine months ended September 30, 2025		$	304			$	2,276			$	-			$	-			$	11			$	-			$	-			$	-			$	2,591

		2024				2023				2022				2021				2020				Prior				Revolving loans amortized cost				Revolving loans converted to term				Total
(Dollars in thousands)		As of December 31, 2024
		2024				2023				2022				2021				2020				Prior				Revolving loans amortized cost				Revolving loans converted to term				Total
One-to-four family residential real estate loans
Nonclassified		$	86,701			$	84,467			$	75,517			$	37,411			$	27,293			$	35,112			$	5,552			$	122			$	352,175
Classified		$	-			$	-			$	-			$	-			$	-			$	34			$	-			$	-			$	34
Total		$	86,701			$	84,467			$	75,517			$	37,411			$	27,293			$	35,146			$	5,552			$	122			$	352,209
Gross charge-offs		$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-
Construction and land loans
Nonclassified		$	6,481			$	11,202			$	1,937			$	1,697			$	2,569			$	1,340			$	102			$	-			$	25,328
Classified		$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-
Total		$	6,481			$	11,202			$	1,937			$	1,697			$	2,569			$	1,340			$	102			$	-			$	25,328
Gross charge-offs		$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-
Commercial real estate loans
Nonclassified		$	59,717			$	47,624			$	68,854			$	53,868			$	41,862			$	67,351			$	3,217			$	85			$	342,578
Classified		$	360			$	-			$	-			$	476			$	151			$	1,594			$	-			$	-			$	2,581
Total		$	60,077			$	47,624			$	68,854			$	54,344			$	42,013			$	68,945			$	3,217			$	85			$	345,159
Gross charge-offs		$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-
Commercial loans
Nonclassified		$	31,083			$	27,158			$	23,574			$	9,813			$	7,930			$	2,203			$	68,282			$	135			$	170,178
Classified		$	11,364			$	1,851			$	1,897			$	39			$	3,637			$	13			$	1,969			$	1,377			$	22,147
Total		$	42,447			$	29,009			$	25,471			$	9,852			$	11,567			$	2,216			$	70,251			$	1,512			$	192,325
Gross charge-offs		$	-			$	-			$	16			$	114			$	56			$	-			$	-			$	-			$	186
Agriculture loans
Nonclassified		$	21,379			$	3,659			$	8,404			$	3,616			$	3,297			$	14,215			$	44,458			$	217			$	99,245
Classified		$	29			$	178			$	257			$	419			$	9			$	73			$	352			$	-			$	1,317
Total		$	21,408			$	3,837			$	8,661			$	4,035			$	3,306			$	14,288			$	44,810			$	217			$	100,562
Gross charge-offs		$	-			$	-			$	-			$	-			$	-			$	64			$	-			$	-			$	64
Municipal loans
Nonclassified		$	5,565			$	-			$	90			$	-			$	-			$	1,436			$	-			$	-			$	7,091
Classified		$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-
Total		$	5,565			$	-			$	90			$	-			$	-			$	1,436			$	-			$	-			$	7,091
Gross charge-offs		$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-
Consumer loans
Nonclassified		$	2,850			$	3,229			$	645			$	1,072			$	682			$	3,167			$	17,896			$	138			$	29,679
Classified		$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-
Total		$	2,850			$	3,229			$	645			$	1,072			$	682			$	3,167			$	17,896			$	138			$	29,679
Gross charge-offs		$	376			$	7			$	1			$	-			$	-			$	24			$	-			$	1			$	409
Total loans
Nonclassified		$	213,776			$	177,339			$	179,021			$	107,477			$	83,633			$	124,824			$	139,507			$	697			$	1,026,274
Classified		$	11,753			$	2,029			$	2,154			$	934			$	3,797			$	1,714			$	2,321			$	1,377			$	26,079
Total		$	225,529			$	179,368			$	181,175			$	108,411			$	87,430			$	126,538			$	141,828			$	2,074			$	1,052,353
Gross charge-offs for the year ended December 31, 2024		$	376			$	7			$	17			$	114			$	56			$	88			$	-			$	1			$	659
Gross charge-offs		$	376			$	7			$	17			$	114			$	56			$	88			$	-			$	1			$	659

Schedule of Allowance for Credit Losses Related to Unfunded Loan Commitments

The following table provides information regarding the Company’s allowance for credit losses related to unfunded loan commitments for the periods indicated:

Schedule of Allowance for Credit Losses Related to Unfunded Loan Commitments

		2025				2024				2025				2024
		Three months ended								Nine months ended
(dollars in thousands)		September 30,								September 30,
		2025				2024				2025				2024
Balance at beginning of period		$	150				300			$	150				250
Provision for credit losses			-				(150	)			-				(100	)
Balance at end of period		$	150			$	150			$	150			$	150

Schedule of Modifications to Borrowers Experiencing Financial Difficulty

Schedule of Modifications to Borrowers Experiencing Financial Difficulty

		As of June 30, 2025
		Amortized cost basis				% of loan class total				Financial effect
Term extension:
Commercial		$	277				0.1	%		Renewal of existing loan

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Tabular disclosure of allowance for credit loss on financing receivable.

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Tabular disclosure of aging analysis for financing receivable.

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Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.

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Tabular disclosure of financing receivable on nonaccrual status.

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