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SUBSEQUENT EVENTS
6 Months Ended
Jun. 30, 2024
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 16 – SUBSEQUENT EVENTS

 

On April 18, 2024, the Company entered into an agreement and plan of reorganization with KansasLand Bancshares, Inc. ("KansasLand"). KansasLand is the holding company of KansasLand Bank, which has two branch locations in Quinter and Americus, Kansas. This transaction was completed at close of business on July 1, 2024. In their June 30, 2024, unaudited Consolidated Report of Condition, KansasLand reported total assets of $52,553, which included total loans of $28,933. At June 30, 2024, total liabilities of $50,044 were reported by KansasLand, which included deposits of $42,596. KansasLand reported $506 in net loss before income taxes for the quarter ended June 30, 2024.

In May 2022, the Company took a preferred equity interest in a borrower's company to liquidate a troubled lending relationship with the borrower, and on August 1, 2024, the borrower liquidated our preferred equity interest in the company resulting in an $8,500 pre-tax gain that will be recorded in the third quarter of 2024.