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COMMITMENTS AND CONTINGENCIES

9 Months Ended

Sep. 30, 2025

COMMITMENTS AND CONTINGENCIES.

COMMITMENTS AND CONTINGENCIES

NOTE 7. COMMITMENTS AND CONTINGENCIES

In the ordinary course of business, the Company has various outstanding commitments and contingent liabilities that are not reflected in the accompanying financial statements. In the opinion of management, the ultimate disposition of these matters is not expected to have a material adverse effect on our financial statements.

The Company is not involved in any pending legal proceedings as a plaintiff or defendant other than routine legal proceedings occurring in the ordinary course of business, and at September 30, 2025, we were not involved in any legal proceedings, the outcome of which would be material to our financial condition or results of operations.

The Company is a party to financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments consist of unfunded commitments to extend credit. These instruments involve, to varying degrees, elements of credit risk in excess of the amounts recognized in the statement of financial position. The contract or notional amounts of these instruments reflect the extent of the Company’s involvement in particular classes of instruments. The following table summarizes the Company’s financial instruments with off-balance-sheet risk as of the dates indicated.

​

​	​	​	​	​	​	​
​	​	Contract or Notional Amount at
(Dollars in thousands)		September 30, 2025			December 31, 2024
Financial instruments with off-balance-sheet risk:	​		​	​		​
Commitments to originate loans	​	$	120	​	$	11,979
Undisbursed portion of construction loans in process		​	10,525		​	7,635
Unused lines of credit		​	16,385		​	15,391
Unused overdraft privilege amounts	​	​	1,220	​	​	1,167
Letters of credit		​	-		​	19
Total	​	$	28,250	​	$	36,191

​

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The entire disclosure for commitments and contingencies.

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