Page 12 - 2025 Annual Report

Statements of Financial Condition

December 31 2025 2024

Assets
Cash and cash equivalents $ 36,855,094 $ 34,354,067
Investments:
Available-for-sale, at fair value 179,548,598 199,880,908
Held-to-maturity, amortized cost 8,924,461 10,228,170
Other investments, at cost 15,047,904 19,176,898
Loans to members, net of allowance for credit losses 990,757,783 887,606,500
Accrued interest receivable:
Investments 1,532,160 1,142,366
Loans 3,294,301 2,962,779
Other receivables 5,671,927 4,186,633
Prepaid and other assets 41,805,125 20,503,037
Goodwill 8,507,465 8,507,465
Premises and equipment, net 27,932,096 29,107,069
Operating lease right-of-use assets 4,567,775 5,605,252
Mortgage servicing rights 767,836 814,861
NCUSIF deposit 10,944,611 10,673,872
Total Assets $1,336,157,136 $1,234,749,877

Liabilities and Members’ Equity
Liabilities:
Members’ share and savings accounts $1,143,192,325 $1,081,624,981
Borrowed funds 41,500,000 16,500,000
Operating lease liabilities 4,567,775 5,605,252
Accounts payable 8,480,363 8,083,443
Accrued liabilities 10,716,251 12,642,114
Allowance for credit losses - unfunded
commitments 463,957 421,058
Total Liabilities 1,208,920,671 1,124,876,848

Members’ Equity:
Regular reserve 1,944,584 1,944,584
Undivided earnings 126,409,502 117,400,593
Accumulated other comprehensive (loss) gain (16,765,741) ( 25,120,268)
Equity acquired from business combination 15,648,120 15,648,120
Total Members’ Equity 127,236,465 109,873,029

Total Liabilities and Members’ Equity $1,336,157,136 $1,234,749,877

Audit by DeLeon & Stang, Certified Public Accountants and Advisors