Form 990 for tax year 2025

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: INTEREST ON LOANS

  total $15,285,577 · related or exempt $15,285,577

• 2b · Program service revenue: INTERCHANGE INCOME

  total $2,297,838 · related or exempt $2,297,838

• 2c · Program service revenue: FEES AND CHARGES

  total $2,227,804 · related or exempt $2,227,804

• 2d · Program service revenue: OTHER INCOME

  total $516,862 · related or exempt $516,862

• 3 · Investment income

  total $8,619,489 · related or exempt $8,619,489

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $10,000

• 5 · Compensation of officers, directors and key employees

  total $1,205,171

• 7 · Other salaries and wages

  total $4,715,294

• 8 · Pension plan contributions

  total $129,625

• 9 · Other employee benefits

  total $668,273

• 10 · Payroll taxes

  total $436,853

• 11b · Fees: legal

  total $13,343

• 11c · Fees: accounting

  total $80,200

• 11g · Fees: other

  total $328,262

• 12 · Advertising and promotion

  total $540,437

• 13 · Office expenses

  total $749,449

• 14 · Information technology

  total $1,581,084

• 16 · Occupancy

  total $904,686

• 19 · Conferences, conventions and meetings

  total $108,438

• 20 · Interest

  total $8,407,252

• 22 · Depreciation, depletion and amortization

  total $410,433

• 24a · Other expenses: LOAN EXPENSES

  total $1,243,992

• 24b · Other expenses: DEBIT CARD EXPENSES

  total $942,403

• 24c · Other expenses: PROVISION FOR LOAN LOSS

  total $669,753

• 24d · Other expenses: ATM EXPENSES

  total $391,107

• 24e · All other expenses

  total $123,332

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $2,361,311 · end of year $3,788,277

• 2 · Savings and temporary cash investments

  beginning of year $57,811,202 · end of year $67,425,936

• 5 · Loans and receivables from officers and key people

  beginning of year $916,773 · end of year $956,773

• 7 · Other notes and loans receivable

  beginning of year $254,298,709 · end of year $287,880,855

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,056,993 · end of year $1,231,390

• 10a · Land, buildings and equipment: cost or other basis

  $10,949,906

• 10b · Land, buildings and equipment: accumulated depreciation

  $4,611,185

• 10c · Land, buildings and equipment, net

  beginning of year $3,894,048 · end of year $6,338,721

• 11 · Investments: publicly traded securities

  beginning of year $162,436 · end of year $169,370

• 12 · Investments: other securities

  beginning of year $177,500,976 · end of year $162,546,737

• 15 · Other assets

  beginning of year $12,776,342 · end of year $13,502,654

• 17 · Accounts payable and accrued expenses

  beginning of year $3,552,673 · end of year $2,212,031

• 25 · Other liabilities

  beginning of year $454,714,289 · end of year $483,828,671

• 29 · Capital stock, trust principal or current funds

  beginning of year $0 · end of year $0

• 30 · Paid-in or capital surplus, or land, building or equipment fund

  beginning of year $0 · end of year $0

• 31 · Retained earnings, endowment or other funds

  beginning of year $52,511,828 · end of year $57,800,011

The filer's explanations (Part III)

PART I, LINE 4B

CERTAIN OFFICERS PARTICIPATE IN A NON-QUALIFIED DEFERRED COMPENSATION PLAN. THEY ARE NOT VESTED IN THIS PLAN. THE CURRENT YEAR NON VESTED DEFERRAL IS INCLUDED IN SCHEDULE J, PART II, COLUMN C.