NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
NOTE 8. FORECLOSED ASSETS Activity for foreclosed assets for December 31, 2025 and 2024 is as follows: 2025 2024 Balance at beginning of year $ 300,000 $ - Properties acquired Ǧ 638,858 Additional expenses Ǧ - Subsequent write-downs Ǧ - Gross proceeds from sales (318,888) (408,763) Gains (loss) recorded 18,888 69,905 Balance at end of year $ Ǧ $ 300,000 NOTE 9. DEPOSITS Deposits (in thousands) at December 31, 2025 and 2024 were as follows: 2025 2024 Individuals, partnerships and corporations $ 3,054,101 2,781,126 U.S. Government Ǧ 3 Commercial banks Ǧ - States and political subdivisions 706,837 620,485 $ 3,760,938 $ 3,401,614 The aggregate amount of time deposits in denominations of $250,000 or more totaled $288,830,900 and $c o2n3s2o, 2l i1d4a ,t7e5d3baatl aDnecceesmh be ee trs3. A1 ,t 2D0e2c5e ma nbde r23012,42, 0r 2e s5p, et hc tei vmeal yt u, arni tdy aorf et iimn cel udde pe do siint si natreeraess tf-oblel oawr i sn:g d e p o s i t s i n t h e 2025 2026 $ 616,199,935 2027 48,484,931 2028 10,025,971 2029 4,645,062 2030 3,575,996 Thereafter Ǧ $ 682,931,895 T( 1h9e5 10 9) , 7a3s aRme ge unldaer dS, eksnsoi ownn oa fs tt hh ee VViirrggiinniiaa SGe ec un reirtayl f oArs sPeumb lbi cl yD ee np aocsti et sd ACcht a( “pAt ec tr ” )2. 3T ho fe TA icttl es u2b. 1s t, aCnot di ael l yo fa mV ier ng di nei da tphl ae c pi nrgo ct eh de uVr ier gai nn di a mS eect uh roidt y offo sr ePc uu br il ni cg Dpeupbol si ci t sd eApc ot sui tnsd. e rI nC Oh ac pt ot eb re r4, 42, 0T0i t1l et h2 e. 2 Coof dt eh eo fC oVdi reg ionf i aV i wr gai ns i rae. cTohdei f Ai ecdt ad de op po tsei tds . t hI en ct oh ne ceevpetnot f omf du et uf aaul iltty oof f ar ebsapnoknhs iabviilni tgy , pi un bv loi lcv fi un ng das cor no sds egpuoasri at , nat ne ey aumn coonl lga tael lr ablai znekds ahnodl dui nngi nps uu br el idc pl ousbs l bi ca ds eedp oosni ttsh we ri lal tbi oe tchoal lteict tseadv be ryaagses epsusbml i ec ndtespaogsai it ns sbteeaarcsht op at hr tei csitpaat et iwn gi dbeaanvke froarg ei t. s Tpor oepnos ur tri eo nt ha at et tshhea rper iomf at hr ye responsibility for security remains that of the bank holding public deposits, the Act requires that each depository 2025 Annual Report | 44
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