Qualified Affordable Housing Project Investment	9 Months Ended
Sep. 30, 2025
Qualified Affordable Housing Project Investment
Qualified Affordable Housing Project Investment	5.Qualified Affordable Housing Project Investment On January 19, 2018, the Bank entered into an agreement to invest in qualified affordable housing projects through a limited liability company. At September 30, 2025 and December 31, 2024, the balance of the Bank’s investment was $1.3 million and $1.6 million, respectively, and is reflected in other assets on the consolidated balance sheets. At September 30, 2025 and December 31, 2024, the unfunded commitment related to the qualified affordable housing project investment was $120,000 and $168,000, respectively, and is reflected in other liabilities on the consolidated balance sheets. The Bank expects to fulfill the commitment as capital calls are made through 2029. (5 – continued) The investment is accounted for using the proportional amortization method. During the three month periods ended September 30, 2025 and 2024, the Bank recognized amortization expense of $86,000 and $72,000, respectively, as a component of income tax expense on the consolidated statements of income. Additionally, during both of the three month periods ended September 30, 2025 and 2024, the Bank recognized income tax credits and other income tax benefits from its qualified affordable housing project investment of $102,000 which was included in income tax expense on the consolidated statements of income. During the nine month periods ended September 30, 2025 and 2024, the Bank recognized amortization expense of $255,000 and $215,000, respectively, as a component of income tax expense on the consolidated statements of income. Additionally, during the nine month periods ended September 30, 2025 and 2024, the Bank recognized income tax credits and other income tax benefits from its qualified affordable housing project investment of $308,000 and $305,000, respectively, which was included in income tax expense on the consolidated statements of income.

Qualified Affordable Housing Project Investment

9 Months Ended

Sep. 30, 2025

Qualified Affordable Housing Project Investment

Qualified Affordable Housing Project Investment

5.Qualified Affordable Housing Project Investment

On January 19, 2018, the Bank entered into an agreement to invest in qualified affordable housing projects through a limited liability company. At September 30, 2025 and December 31, 2024, the balance of the Bank’s investment was $1.3 million and $1.6 million, respectively, and is reflected in other assets on the consolidated balance sheets. At September 30, 2025 and December 31, 2024, the unfunded commitment related to the qualified affordable housing project investment was $120,000 and $168,000, respectively, and is reflected in other liabilities on the consolidated balance sheets. The Bank expects to fulfill the commitment as capital calls are made through 2029.

(5 – continued)

The investment is accounted for using the proportional amortization method. During the three month periods ended September 30, 2025 and 2024, the Bank recognized amortization expense of $86,000 and $72,000, respectively, as a component of income tax expense on the consolidated statements of income. Additionally, during both of the three month periods ended September 30, 2025 and 2024, the Bank recognized income tax credits and other income tax benefits from its qualified affordable housing project investment of $102,000 which was included in income tax expense on the consolidated statements of income. During the nine month periods ended September 30, 2025 and 2024, the Bank recognized amortization expense of $255,000 and $215,000, respectively, as a component of income tax expense on the consolidated statements of income. Additionally, during the nine month periods ended September 30, 2025 and 2024, the Bank recognized income tax credits and other income tax benefits from its qualified affordable housing project investment of $308,000 and $305,000, respectively, which was included in income tax expense on the consolidated statements of income.