XML 19 R12.htm IDEA: XBRL DOCUMENT
v3.25.3

Loans and Allowance for Credit Losses | 6 Months Ended
--- | ---
Sep. 30, 2025
Receivables [Abstract] |
Loans and Allowance for Credit Losses | Note 3 - LOANS AND ALLOWANCE FOR Credit LOSSES A summary of loans by major category as of September 30, 2025 and March 31, 2025 is as follows:
|  | September 30, 2025 |  |  | March 31, 2025 |
|  | (Dollars in thousands) |
Real Estate - Construction |  | $ | 19,247 |  |  | $ | 15,069 |
Real Estate - Commercial |  |  | 126,993 |  |  |  | 120,184 |
Real Estate - Residential |  |  | 158,635 |  |  |  | 161,144 |
Commercial Non-Real Estate |  |  | 38,692 |  |  |  | 32,007 |
Agriculture |  |  | 51,138 |  |  |  | 42,835 |
Other Consumer |  |  | 12,439 |  |  |  | 14,649 |
Land Development and Sanitary & Improvement Districts (SIDs) |  |  | 15,231 |  |  |  | 16,327 |
Total loans |  |  | 422,375 |  |  |  | 402,215 |
Allowance for credit losses |  |  | (5,523 | ) |  |  | (5,441 | )
Net deferred origination costs & fees |  |  | (55 | ) |  |  | (18 | )
Total loans, net |  | $ | 416,797 |  |  | $ | 396,756 |
Related Party Loans: In the normal course of business, loans are made to directors and officers of the Association. Loans to Association directors and key officers outstanding as of September 30, 2025 and March 31, 2025 were $1.8 million. Additionally, the Association had loans totaling $901,000 and $940,000 as of September 30, 2025 and March 31, 2025 to related parties that were originated by the Association, sold to Federal Home Loan Mortgage Company and are serviced by the Association. The following tables present the activity in the allowance for credit losses for the three and six months ended September 30, 2025 and 2024:
|  | Three Months Ended September 30, 2025 |
|  | Beginning |  |  |  |  |  |  |  |  |  |  |  | Ending |
|  | Allowance |  |  | Provision for |  |  | Loans |  |  |  |  |  | Allowance |
|  | Balance |  |  | Credit Losses |  |  | Charged off |  |  | Recoveries |  |  | Balance |
|  | (Dollars in thousands) |
Real Estate - Construction |  | $ | 246 |  |  | $ | 39 |  |  | $ | — |  |  | $ | — |  |  | $ | 285 |
Real Estate - Commercial |  |  | 1,572 |  |  |  | 116 |  |  |  | — |  |  |  | — |  |  |  | 1,688 |
Real Estate - Residential |  |  | 1,925 |  |  |  | (125 | ) |  |  | — |  |  |  | — |  |  |  | 1,800 |
Commercial Non-Real Estate |  |  | 667 |  |  |  | 128 |  |  |  | — |  |  |  | — |  |  |  | 795 |
Agricultural |  |  | 476 |  |  |  | 83 |  |  |  | — |  |  |  | — |  |  |  | 559 |
Other Consumer |  |  | 261 |  |  |  | (88 | ) |  |  | (7 | ) |  |  | 2 |  |  |  | 168 |
Land Development and SIDs |  |  | 292 |  |  |  | (64 | ) |  |  | — |  |  |  | — |  |  |  | 228 |
Total |  | $ | 5,439 |  |  | $ | 89 |  |  | $ | (7 | ) |  | $ | 2 |  |  | $ | 5,523 |
|  | Six Months Ended September 30, 2025 |
|  | Beginning |  |  |  |  |  |  |  |  |  |  |  | Ending |
|  | Allowance |  |  | Provision for |  |  | Loans |  |  |  |  |  | Allowance |
|  | Balance |  |  | Credit Losses |  |  | Charged off |  |  | Recoveries |  |  | Balance |
|  | (Dollars in thousands) |
Real Estate - Construction |  | $ | 246 |  |  | $ | 39 |  |  | $ | — |  |  | $ | — |  |  | $ | 285 |
Real Estate - Commercial |  |  | 1,572 |  |  |  | 116 |  |  |  | — |  |  |  | — |  |  |  | 1,688 |
Real Estate - Residential |  |  | 1,926 |  |  |  | (126 | ) |  |  | — |  |  |  | — |  |  |  | 1,800 |
Commercial Non-Real Estate |  |  | 667 |  |  |  | 128 |  |  |  | — |  |  |  | — |  |  |  | 795 |
Agricultural |  |  | 476 |  |  |  | 83 |  |  |  | — |  |  |  | — |  |  |  | 559 |
Other Consumer |  |  | 262 |  |  |  | (90 | ) |  |  | (7 | ) |  |  | 3 |  |  |  | 168 |
Land Development and SIDs |  |  | 292 |  |  |  | (64 | ) |  |  | — |  |  |  | — |  |  |  | 228 |
Total |  | $ | 5,441 |  |  | $ | 86 |  |  | $ | (7 | ) |  | $ | 3 |  |  | $ | 5,523 |
|  | Three Months Ended September 30, 2024 |
|  | Beginning |  |  |  |  |  |  |  |  |  |  |  | Ending |
|  | Allowance |  |  | Provision for |  |  | Loans |  |  |  |  |  | Allowance |
|  | Balance |  |  | Credit Losses |  |  | Charged off |  |  | Recoveries |  |  | Balance |
|  | (Dollars in thousands) |
Real Estate - Construction |  | $ | 268 |  |  | $ | 21 |  |  | $ | — |  |  | $ | — |  |  | $ | 289 |
Real Estate - Commercial |  |  | 2,044 |  |  |  | (21 | ) |  |  | — |  |  |  | — |  |  |  | 2,023 |
Real Estate - Residential |  |  | 1,907 |  |  |  | (31 | ) |  |  | — |  |  |  | — |  |  |  | 1,876 |
Commercial Non-Real Estate |  |  | 711 |  |  |  | (53 | ) |  |  | — |  |  |  | — |  |  |  | 658 |
Agricultural |  |  | 284 |  |  |  | 122 |  |  |  | — |  |  |  | — |  |  |  | 406 |
Other Consumer |  |  | 392 |  |  |  | (24 | ) |  |  | — |  |  |  | 2 |  |  |  | 370 |
Land Development and SIDs |  |  | 246 |  |  |  | (10 | ) |  |  | — |  |  |  | — |  |  |  | 236 |
Total |  | $ | 5,852 |  |  | $ | 4 |  |  | $ | — |  |  | $ | 2 |  |  | $ | 5,858 |
|  | Six Months Ended September 30, 2024 |
|  | Beginning |  |  |  |  |  |  |  |  |  |  |  | Ending |
|  | Allowance |  |  | (Reversal of) |  |  | Loans |  |  |  |  |  | Allowance |
|  | Balance |  |  | Credit Losses |  |  | Charged off |  |  | Recoveries |  |  | Balance |
|  | (Dollars in thousands) |
Real Estate - Construction |  | $ | 246 |  |  | $ | 43 |  |  | $ | — |  |  | $ | — |  |  | $ | 289 |
Real Estate - Commercial |  |  | 2,245 |  |  |  | (222 | ) |  |  | — |  |  |  | — |  |  |  | 2,023 |
Real Estate - Residential |  |  | 1,829 |  |  |  | 47 |  |  |  | — |  |  |  | — |  |  |  | 1,876 |
Commercial Non-Real Estate |  |  | 759 |  |  |  | (101 | ) |  |  | — |  |  |  | — |  |  |  | 658 |
Agricultural |  |  | 228 |  |  |  | 178 |  |  |  | — |  |  |  | — |  |  |  | 406 |
Other Consumer |  |  | 327 |  |  |  | 44 |  |  |  | (4 | ) |  |  | 3 |  |  |  | 370 |
Land Development and SIDs |  |  | 226 |  |  |  | 10 |  |  |  | — |  |  |  | — |  |  |  | 236 |
Total |  | $ | 5,860 |  |  | $ | (1 | ) |  | $ | (4 | ) |  | $ | 3 |  |  | $ | 5,858 |
The ACL on loans excludes $215,000 as of September 30, 2025 and March 31, 2025 of allowance for off-balance sheet exposures and is recorded within accounts payable, accrued expenses and other liabilities on the Consolidated Balance Sheets. Collateral dependent loans individually evaluated for purposes of the ACL by collateral type were as follows at September 30, 2025 and March 31, 2025:
|  | September 30, 2025 |
|  | Real Estate |  |  | Other |  |  | ACL Allocation |
|  | (Dollars in thousands) |
Portfolio Segment |  |  |  |  |  |  |  |  |
Real Estate - Construction |  | $ | — |  |  | $ | — |  |  | $ | — |
Real Estate - Commercial |  |  | 329 |  |  |  | — |  |  |  | — |
Real Estate - Residential |  |  | 11 |  |  |  | — |  |  |  | — |
Commercial Non-Real Estate |  |  | — |  |  |  | — |  |  |  | — |
Agricultural |  |  | — |  |  |  | — |  |  |  | — |
Other Consumer |  |  | — |  |  |  | — |  |  |  | — |
Land Development and SIDs |  |  | 4 |  |  |  | — |  |  |  | 4 |
Total |  | $ | 344 |  |  | $ | — |  |  | $ | 4 |
|  | March 31, 2025 |
|  | Real Estate |  |  | Other |  |  | ACL Allocation |
|  | (Dollars in thousands) |
Portfolio Segment |  |  |  |  |  |  |  |  |
Real Estate - Construction |  | $ | — |  |  | $ | — |  |  | $ | — |
Real Estate - Commercial |  |  | 359 |  |  |  | — |  |  |  | — |
Real Estate - Residential |  |  | 150 |  |  |  | — |  |  |  | 68 |
Commercial Non-Real Estate |  |  | — |  |  |  | — |  |  |  | — |
Agricultural |  |  | — |  |  |  | — |  |  |  | — |
Other Consumer |  |  | — |  |  |  | 13 |  |  |  | 9 |
Land Development and SIDs |  |  | 807 |  |  |  | — |  |  |  | 39 |
Total |  | $ | 1,316 |  |  | $ | 13 |  |  | $ | 116 |
Credit Risk—The Association monitors the credit risk within the loan portfolio by assessing the strength of the borrower’s repayment capacity and the probability of default. The Association first assesses the paying capacity of the borrower; then, it analyzes the sound worth of any pledged collateral or guarantees. In estimating the allowance for credit losses management also uses a quarterly Loan Concentration Report to monitor any concentrations that may develop in any specific category of the loan portfolio. It identifies four varying degrees of credit worthiness: • Pass Loans: Loans in the pass category are loans that do not raise Association concerns. • Special Mention Loans: Loans in this category may have a potential for weakness which, if not corrected, could weaken the asset and increase the risk in the future. By classifying a loan as Special Mention the Association can give the loan the attention needed to remedy any credit deficiencies or potential weaknesses. • Substandard Loans: Loans identified as Substandard are assets that are inadequately protected by the current net worth and paying capacity of the obligor or the collateral pledged, if any. Loans in this classification category must have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Association will sustain some loss if the deficiencies are not corrected. If a loan is classified as Substandard, a determination based upon objective evidence must be made as to any specific or general valuation allowance within the guidelines of generally accepted accounting principles. • Doubtful Loans: Loans in this category have all the weaknesses inherent in Substandard loans with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. If a loan is classified as Doubtful, a determination based upon objective evidence must be made as to any specific or general valuation allowance within the guidelines of generally accepted accounting principles. The following tables present the credit risk profile of the Association's loan portfolio based on risk rating category and year of origination as of September 30, 2025 and March 31, 2025.
|  | As of September 30, 2025 |
|  | Term Loans by Origination Year (Fiscal Year) |  |  | Revolving |  |  |  |
|  | 2026 |  |  | 2025 |  |  | 2024 |  |  | 2023 |  |  | 2022 |  |  | Prior |  |  | Loans |  |  | Total |
|  | (Dollars in thousands) |
Real Estate - Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 5,620 |  |  | $ | 10,150 |  |  | $ | 2,005 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,472 |  |  | $ | 19,247 |
Special mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total Real Estate - Construction |  | $ | 5,620 |  |  | $ | 10,150 |  |  | $ | 2,005 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,472 |  |  | $ | 19,247 |
Current year-to-date gross write-offs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Real Estate - Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  |  | 7,812 |  |  |  | 20,153 |  |  |  | 13,843 |  |  |  | 26,113 |  |  |  | 25,277 |  |  |  | 31,667 |  |  |  | 63 |  |  | $ | 124,928 |
Special mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Substandard |  |  | — |  |  |  | 327 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,738 |  |  |  | — |  |  |  | 2,065 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total Real Estate - Commercial |  | $ | 7,812 |  |  | $ | 20,480 |  |  | $ | 13,843 |  |  | $ | 26,113 |  |  | $ | 25,277 |  |  | $ | 33,405 |  |  | $ | 63 |  |  | $ | 126,993 |
Current year-to-date gross write-offs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Real Estate - Residential |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  |  | 11,406 |  |  |  | 16,228 |  |  |  | 13,943 |  |  |  | 21,072 |  |  |  | 44,213 |  |  |  | 41,452 |  |  |  | 10,074 |  |  | $ | 158,388 |
Special mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Substandard |  |  | — |  |  |  | — |  |  |  | 24 |  |  |  | — |  |  |  | 16 |  |  |  | 207 |  |  |  | — |  |  |  | 247 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total Real Estate - Residential |  | $ | 11,406 |  |  | $ | 16,228 |  |  | $ | 13,967 |  |  | $ | 21,072 |  |  | $ | 44,229 |  |  | $ | 41,659 |  |  | $ | 10,074 |  |  | $ | 158,635 |
Current year-to-date gross write-offs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Commercial - Non-Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  |  | 10,643 |  |  |  | 5,827 |  |  |  | 4,412 |  |  |  | 2,595 |  |  |  | 1,934 |  |  |  | 7,158 |  |  |  | 5,656 |  |  | $ | 38,225 |
Special mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 115 |  |  |  | — |  |  |  | 252 |  |  |  | 100 |  |  |  | 467 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total Commercial - Non-Real Estate |  | $ | 10,643 |  |  | $ | 5,827 |  |  | $ | 4,412 |  |  | $ | 2,710 |  |  | $ | 1,934 |  |  | $ | 7,410 |  |  | $ | 5,756 |  |  | $ | 38,692 |
Current year-to-date gross write-offs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Agricultural |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  |  | 5,971 |  |  |  | 15,402 |  |  |  | 1,842 |  |  |  | 2,874 |  |  |  | 2,015 |  |  |  | 3,223 |  |  |  | 18,790 |  |  | $ | 50,117 |
Special mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Substandard |  |  | — |  |  |  | 347 |  |  |  | — |  |  |  | 165 |  |  |  | — |  |  |  | — |  |  |  | 509 |  |  |  | 1,021 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total - Agricultural |  | $ | 5,971 |  |  | $ | 15,749 |  |  | $ | 1,842 |  |  | $ | 3,039 |  |  | $ | 2,015 |  |  | $ | 3,223 |  |  | $ | 19,299 |  |  | $ | 51,138 |
Current year-to-date gross write-offs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Other Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  |  | 1,480 |  |  |  | 1,975 |  |  |  | 3,971 |  |  |  | 3,965 |  |  |  | 218 |  |  |  | 784 |  |  |  | — |  |  | $ | 12,393 |
Special mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Substandard |  |  | — |  |  |  | 43 |  |  |  | — |  |  |  | — |  |  |  | 3 |  |  |  | — |  |  |  | — |  |  |  | 46 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total Other Consumer |  | $ | 1,480 |  |  | $ | 2,018 |  |  | $ | 3,971 |  |  | $ | 3,965 |  |  | $ | 221 |  |  | $ | 784 |  |  | $ | — |  |  | $ | 12,439 |
Current year-to-date gross write-offs |  |  | 7 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 7 |
Land Development and SIDs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  |  | 772 |  |  |  | 1,283 |  |  |  | 1,142 |  |  |  | 5,539 |  |  |  | 5,249 |  |  |  | 1,181 |  |  |  | — |  |  | $ | 15,166 |
Special mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 65 |  |  |  | — |  |  |  | — |  |  |  | 65 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total Land Development and SIDs |  | $ | 772 |  |  | $ | 1,283 |  |  | $ | 1,142 |  |  | $ | 5,539 |  |  | $ | 5,314 |  |  | $ | 1,181 |  |  | $ | — |  |  | $ | 15,231 |
Current year-to-date gross write-offs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total loans |  | $ | 43,704 |  |  | $ | 71,735 |  |  | $ | 41,182 |  |  | $ | 62,438 |  |  | $ | 78,990 |  |  | $ | 87,662 |  |  | $ | 36,664 |  |  | $ | 422,375 |
|  | As of March 31, 2025 |
|  | Term Loans by Origination Year (Fiscal Year) |  |  | Revolving |  |  |  |
|  | 2025 |  |  | 2024 |  |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | Prior |  |  | Loans |  |  | Total |
|  | (Dollars in thousands) |
Real Estate - Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 9,809 |  |  | $ | 2,908 |  |  | $ | 367 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,985 |  |  | $ | 15,069 |
Special mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total Real Estate - Construction |  | $ | 9,809 |  |  | $ | 2,908 |  |  | $ | 367 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,985 |  |  | $ | 15,069 |
Current year-to-date gross write-offs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Real Estate - Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  |  | 17,451 |  |  |  | 14,153 |  |  |  | 26,916 |  |  |  | 25,840 |  |  |  | 3,089 |  |  |  | 30,409 |  |  |  | 140 |  |  | $ | 117,998 |
Special mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Substandard |  |  | — |  |  |  | 391 |  |  |  | — |  |  |  | — |  |  |  | 306 |  |  |  | 1,489 |  |  |  | — |  |  |  | 2,186 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total Real Estate - Commercial |  | $ | 17,451 |  |  | $ | 14,544 |  |  | $ | 26,916 |  |  | $ | 25,840 |  |  | $ | 3,395 |  |  | $ | 31,898 |  |  | $ | 140 |  |  | $ | 120,184 |
Current year-to-date gross write-offs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Real Estate - Residential |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  |  | 18,914 |  |  |  | 19,970 |  |  |  | 22,674 |  |  |  | 46,132 |  |  |  | 31,265 |  |  |  | 12,861 |  |  |  | 9,078 |  |  | $ | 160,894 |
Special mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Substandard |  |  | — |  |  |  | — |  |  |  | 135 |  |  |  | — |  |  |  | — |  |  |  | 115 |  |  |  | — |  |  |  | 250 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total Real Estate - Residential |  | $ | 18,914 |  |  | $ | 19,970 |  |  | $ | 22,809 |  |  | $ | 46,132 |  |  | $ | 31,265 |  |  | $ | 12,976 |  |  | $ | 9,078 |  |  | $ | 161,144 |
Current year-to-date gross write-offs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Commercial - Non-Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  |  | 6,549 |  |  |  | 5,670 |  |  |  | 3,613 |  |  |  | 2,790 |  |  |  | 1,775 |  |  |  | 6,563 |  |  |  | 4,551 |  |  | $ | 31,511 |
Special mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Substandard |  |  | — |  |  |  | — |  |  |  | 122 |  |  |  | — |  |  |  | — |  |  |  | 374 |  |  |  | — |  |  |  | 496 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total Commercial - Non-Real Estate |  | $ | 6,549 |  |  | $ | 5,670 |  |  | $ | 3,735 |  |  | $ | 2,790 |  |  | $ | 1,775 |  |  | $ | 6,937 |  |  | $ | 4,551 |  |  | $ | 32,007 |
Current year-to-date gross write-offs |  |  | 13 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 13 |
Agricultural |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  |  | 16,635 |  |  |  | 1,763 |  |  |  | 2,927 |  |  |  | 2,069 |  |  |  | 857 |  |  |  | 2,635 |  |  |  | 15,078 |  |  | $ | 41,964 |
Special mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Substandard |  |  | 405 |  |  |  | — |  |  |  | 165 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 301 |  |  |  | 871 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total - Agricultural |  | $ | 17,040 |  |  | $ | 1,763 |  |  | $ | 3,092 |  |  | $ | 2,069 |  |  | $ | 857 |  |  | $ | 2,635 |  |  | $ | 15,379 |  |  | $ | 42,835 |
Current year-to-date gross write-offs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Other Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  |  | 2,779 |  |  |  | 5,021 |  |  |  | 5,252 |  |  |  | 359 |  |  |  | 224 |  |  |  | 996 |  |  |  | — |  |  | $ | 14,631 |
Special mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 5 |  |  |  | 8 |  |  |  | — |  |  |  | 13 |
Doubtful |  |  | 5 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 5 |
Total Other Consumer |  | $ | 2,784 |  |  | $ | 5,021 |  |  | $ | 5,252 |  |  | $ | 359 |  |  | $ | 229 |  |  | $ | 1,004 |  |  | $ | — |  |  | $ | 14,649 |
Current year-to-date gross write-offs |  |  | 4 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4 |
Land Development and SIDs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  |  | 841 |  |  |  | 1,124 |  |  |  | 6,313 |  |  |  | 5,956 |  |  |  | 552 |  |  |  | 734 |  |  |  | — |  |  | $ | 15,520 |
Special mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Substandard |  |  | — |  |  |  | — |  |  |  | 807 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 807 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total Land Development and SIDs |  | $ | 841 |  |  | $ | 1,124 |  |  | $ | 7,120 |  |  | $ | 5,956 |  |  | $ | 552 |  |  | $ | 734 |  |  | $ | — |  |  | $ | 16,327 |
Current year-to-date gross write-offs |  |  | 605 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 605 |
Total loans |  | $ | 73,388 |  |  | $ | 51,000 |  |  | $ | 69,291 |  |  | $ | 83,146 |  |  | $ | 38,073 |  |  | $ | 56,184 |  |  | $ | 31,133 |  |  | $ | 402,215 |
Nonperforming and Past-Due Loans—All loans in the Association’s portfolio are considered past due if the required principal and interest payments have not been received as of the date such payments were due. The following table presents certain information with respect to loans on nonaccrual status as of and for the six months ended September 30, 2025 and March 31, 2025:
|  | Nonaccrual |  |  | Nonaccrual with no |  |  | Nonaccrual with |  |  | Interest Income |
|  | loans at |  |  | Allowance for Credit |  |  | Allowance for Credit |  |  | Recognized During |
|  | September 30, 2025 |  |  | Loss |  |  | Loss |  |  | the Period |
September 30, 2025 |  |  |
Real Estate - Commercial |  | $ | 329 |  |  | $ | 329 |  |  | $ | — |  |  | $ | 4 |
Real Estate - Residential |  |  | 11 |  |  |  | 11 |  |  |  | — |  |  |  | — |
Land Development and SIDs |  |  | 4 |  |  |  | — |  |  |  | 4 |  |  |  | 34 |
Total |  | $ | 344 |  |  | $ | 340 |  |  | $ | 4 |  |  | $ | 38 |
|  | Nonaccrual loans |  |  | Nonaccrual with no |  |  | Nonaccrual with |  |  | Interest Income |
|  | at March 31, |  |  | Allowance for Credit |  |  | Allowance for Credit |  |  | Recognized During |
|  | 2025 |  |  | Loss |  |  | Loss |  |  | the Period |
March 31, 2025 |  |  |
Real Estate - Commercial |  | $ | 359 |  |  | $ | 359 |  |  | $ | — |  |  | $ | 29 |
Real Estate - Residential |  |  | 150 |  |  |  | 81 |  |  |  | 69 |  |  |  | 10 |
Commercial Non-Real Estate |  |  | 13 |  |  |  | 5 |  |  |  | 8 |  |  |  | — |
Other Consumer |  |  | 807 |  |  |  | 768 |  |  |  | 39 |  |  |  | 27 |
Total |  | $ | 1,329 |  |  | $ | 1,213 |  |  | $ | 116 |  |  | $ | 66 |
The following is an aging analysis of the contractually past due loans as of September 30, 2025 and March 31, 2025:
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Loans Past |
|  |  |  |  |  |  |  | Greater than |  |  |  |  |  |  |  |  |  |  |  | Due 90 Days |
|  | 30–59 Days |  |  | 60–89 Days |  |  | 89 Days |  |  | Total |  |  |  |  |  |  |  |  | or More Still |
|  | Past Due |  |  | Past Due |  |  | Past Due |  |  | Past Due |  |  | Current |  |  | Total |  |  | Accruing |
September 30, 2025 |  | (Dollars in thousands) |
Real Estate - Construction |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 19,247 |  |  | $ | 19,247 |  |  | $ | — |
Real Estate - Commercial |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 126,993 |  |  |  | 126,993 |  |  |  | — |
Real Estate - Residential |  |  | 322 |  |  |  | 383 |  |  |  | 24 |  |  |  | 729 |  |  |  | 157,906 |  |  |  | 158,635 |  |  |  | 24 |
Commercial Non-Real Estate |  |  | 282 |  |  |  | — |  |  |  | — |  |  |  | 282 |  |  |  | 38,410 |  |  |  | 38,692 |  |  |  | — |
Agricultural |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 51,138 |  |  |  | 51,138 |  |  |  | — |
Other Consumer |  |  | 67 |  |  |  | 261 |  |  |  | 128 |  |  |  | 456 |  |  |  | 11,983 |  |  |  | 12,439 |  |  |  | 128 |
Land Development and SIDs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 15,231 |  |  |  | 15,231 |  |  |  | — |
Total |  | $ | 671 |  |  | $ | 644 |  |  | $ | 152 |  |  | $ | 1,467 |  |  | $ | 420,908 |  |  | $ | 422,375 |  |  | $ | 152 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Loans Past |
|  |  |  |  |  |  |  | Greater than |  |  |  |  |  |  |  |  |  |  |  | Due 90 Days |
|  | 30–59 Days |  |  | 60–89 Days |  |  | 89 Days |  |  | Total |  |  |  |  |  |  |  |  | or More Still |
|  | Past Due |  |  | Past Due |  |  | Past Due |  |  | Past Due |  |  | Current |  |  | Total |  |  | Accruing |
March 31, 2025 |  | (Dollars in thousands) |
Real Estate - Construction |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 15,069 |  |  | $ | 15,069 |  |  | $ | — |
Real Estate - Commercial |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 120,184 |  |  |  | 120,184 |  |  |  | — |
Real Estate - Residential |  |  | 486 |  |  |  | — |  |  |  | 87 |  |  |  | 573 |  |  |  | 160,571 |  |  |  | 161,144 |  |  |  | 3 |
Commercial Non-Real Estate |  |  | — |  |  |  | 9 |  |  |  | — |  |  |  | 9 |  |  |  | 31,998 |  |  |  | 32,007 |  |  |  | — |
Agricultural |  |  | 79 |  |  |  | — |  |  |  | — |  |  |  | 79 |  |  |  | 42,756 |  |  |  | 42,835 |  |  |  | — |
Other Consumer |  |  | 112 |  |  |  | 345 |  |  |  | 112 |  |  |  | 569 |  |  |  | 14,080 |  |  |  | 14,649 |  |  |  | 99 |
Land Development and SIDs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 16,327 |  |  |  | 16,327 |  |  |  | — |
Total |  | $ | 677 |  |  | $ | 354 |  |  | $ | 199 |  |  | $ | 1,230 |  |  | $ | 400,985 |  |  | $ | 402,215 |  |  | $ | 102 |
The Association may modify loans to borrowers experiencing financial difficulty by providing modifications to repayment terms; more specifically, modifications to loan interest rates. Management performs an analysis at the time of loan modification. Any reserve required is recorded through a provision to the allowance for credit losses on loans. There were no modifications on loans to borrowers experiencing financial difficulty during the six months ended September 30, 2025 and 2024.

X
- Definition The entire disclosure for claims held for amounts due to entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/310-10/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 + Details
Name: | us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_ReceivablesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration