GREAT SOUTHERN BANCORP, INC. 10-Q

ITEM 1. FINANCIAL STATEMENTS. GREAT SOUTHERN BANCORP, INC. CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (In Thousands, Except Number of Share Data) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ MARCH 31, ​ ​ ​ DECEMBER 31, ​ ​ 2026 ​ 2025 ​ ​ (Unaudited) ASSETS ​ ​ ​ ​ ​ ​ Cash $ 101,405 $ 109,833 Interest-bearing deposits in other financial institutions ​ ​ 85,999 ​ ​ 79,721 Cash and cash equivalents ​ ​ 187,404 ​ ​ 189,554 ​ ​ ​ ​ ​ ​ ​ Available-for-sale securities ​ ​ 513,846 ​ ​ 523,831 Held-to-maturity securities ​ ​ 177,594 ​ ​ 179,200 Mortgage loans held for sale ​ ​ 6,823 ​ ​ 6,838 Loans receivable, net of allowance for credit losses of $ 64,784 – March 2026; $ 64,771 – December 2025 ​ ​ 4,456,639 ​ ​ 4,356,853 Interest receivable ​ ​ 19,716 ​ ​ 18,068 Prepaid expenses and other assets ​ ​ 124,023 ​ ​ 128,615 Other real estate owned and repossessions, net ​ ​ 6,615 ​ ​ 6,036 Premises and equipment, net ​ ​ 132,113 ​ ​ 133,257 Goodwill and other intangible assets ​ ​ 9,552 ​ ​ 9,660 Federal Home Loan Bank stock and other interest-earning assets ​ ​ 27,720 ​ ​ 20,079 Current and deferred income taxes ​ ​ 25,277 ​ ​ 26,615 Total Assets $ 5,687,322 $ 5,598,606 ​ ​ ​ ​ ​ ​ ​ LIABILITIES AND STOCKHOLDERS’ EQUITY ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ ​ ​ Deposits $ 4,445,161 $ 4,482,774 Securities sold under reverse repurchase agreements with customers ​ ​ 37,198 ​ ​ 48,467 Short-term borrowings and other interest-bearing liabilities ​ ​ 470,660 ​ ​ 330,928 Subordinated debentures issued to capital trust ​ ​ 25,774 ​ ​ 25,774 Accrued interest payable ​ ​ 3,250 ​ ​ 3,612 Advances from borrowers for taxes and insurance ​ ​ 9,021 ​ ​ 5,781 Accrued expenses and other liabilities ​ ​ 55,011 ​ ​ 56,596 Liability for unfunded commitments ​ ​ 7,617 ​ ​ 8,548 Total Liabilities ​ ​ 5,053,692 ​ ​ 4,962,480 ​ ​ ​ ​ ​ ​ ​ Stockholders’ Equity: ​ ​ ​ ​ ​ ​ Capital stock ​ ​ ​ ​ ​ ​ Serial preferred stock, $ .01 par value; authorized 1,000,000 shares; issued and outstanding March 2026 and December 2025 - - 0 - shares ​ ​ — ​ ​ — Common stock, $ .01 par value; authorized 20,000,000 shares; issued and outstanding March 2026 – 10,873,847 shares; December 2025 – 11,062,252 shares ​ ​ 83 ​ ​ 111 Additional paid-in capital ​ ​ 56,126 ​ ​ 54,120 Retained earnings ​ ​ 612,570 ​ ​ 614,095 Accumulated other comprehensive loss ​ ​ ( 35,149 ) ​ ​ ( 32,200 ) Total Stockholders’ Equity ​ ​ 633,630 ​ ​ 636,126 ​ ​ ​ ​ ​ ​ ​ Total Liabilities and Stockholders’ Equity $ 5,687,322 $ 5,598,606 ​ See Notes to Consolidated Financial Statements ​ 1 GREAT SOUTHERN BANCORP, INC. CONSOLIDATED STATEMENTS OF INCOME (In Thousands, Except Per Share Data) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ THREE MONTHS ENDED ​ ​ MARCH 31, ​ ​ 2026 ​ ​ ​ 2025 ​ ​ (Unaudited) INTEREST INCOME ​ ​ ​ ​ ​ ​ Loans $ 64,660 $ 73,071 Investment securities and other ​ ​ 6,505 ​ ​ 7,172 TOTAL INTEREST INCOME ​ ​ 71,165 ​ ​ 80,243 ​ ​ ​ ​ ​ ​ ​ INTEREST EXPENSE ​ ​ ​ ​ ​ ​ Deposits ​ ​ 18,337 ​ ​ 24,600 Securities sold under reverse repurchase agreements ​ ​ 96 ​ ​ 371 Short-term borrowings, overnight FHLBank borrowings and other interest-bearing liabilities ​ ​ 4,062 ​ ​ 4,450 Subordinated debentures issued to capital trust ​ ​ 342 ​ ​ 382 Subordinated notes ​ ​ — ​ ​ 1,106 TOTAL INTEREST EXPENSE ​ ​ 22,837 ​ ​ 30,909 ​ ​ ​ ​ ​ ​ ​ NET INTEREST INCOME ​ ​ 48,328 ​ ​ 49,334 PROVISION FOR CREDIT LOSSES ON LOANS ​ ​ — ​ ​ — CREDIT FOR LOSSES ON UNFUNDED COMMITMENTS ​ ​ ( 931 ) ​ ​ ( 348 ) NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES ON LOANS AND CREDIT FOR LOSSES ON UNFUNDED COMMITMENTS ​ ​ 49,259 ​ ​ 49,682 ​ ​ ​ ​ ​ ​ ​ NON-INTEREST INCOME ​ ​ ​ ​ ​ ​ Commissions ​ ​ 615 ​ ​ 262 Overdraft and insufficient funds fees ​ ​ 1,231 ​ ​ 1,215 Point-Of-Sale and ATM fee income and service charges ​ ​ 3,101 ​ ​ 3,234 Net gains on loan sales ​ ​ 719 ​ ​ 601 Late charges and fees on loans ​ ​ 136 ​ ​ 243 Loss on derivative interest rate products ​ ​ ( 2 ) ​ ​ ( 24 ) Other income ​ ​ 1,229 ​ ​ 1,059 TOTAL NON-INTEREST INCOME ​ ​ 7,029 ​ ​ 6,590 ​ ​ ​ ​ ​ ​ ​ NON-INTEREST EXPENSE ​ ​ ​ ​ ​ ​ Salaries and employee benefits ​ ​ 20,071 ​ ​ 20,129 Net occupancy and equipment expense ​ ​ 8,864 ​ ​ 8,533 Postage ​ ​ 925 ​ ​ 931 Insurance ​ ​ 1,072 ​ ​ 1,165 Advertising ​ ​ 372 ​ ​ 290 Office supplies and printing ​ ​ 222 ​ ​ 266 Telephone ​ ​ 685 ​ ​ 706 Legal, audit and other professional fees ​ ​ 690 ​ ​ 1,038 Expense (income) on other real estate and repossessions ​ ​ 54 ​ ​ ( 70 ) Intangible asset amortization ​ ​ 108 ​ ​ 108 Other operating expenses ​ ​ 1,729 ​ ​ 1,726 TOTAL NON-INTEREST EXPENSE ​ ​ 34,792 ​ ​ 34,822 ​ ​ ​ ​ ​ ​ ​ INCOME BEFORE INCOME TAXES ​ ​ 21,496 ​ ​ 21,450 PROVISION FOR INCOME TAXES ​ ​ 4,020 ​ ​ 4,290 NET INCOME $ 17,476 ​ $ 17,160 ​ ​ ​ ​ ​ ​ ​ Basic Earnings Per Common Share $ 1.59 ​ $ 1.47 Diluted Earnings Per Common Share $ 1.58 ​ $ 1.47 ​ ​ ​ ​ ​ ​ ​ Dividends Declared Per Common Share $ 0.43 ​ $ 0.40 ​ See Notes to Consolidated Financial Statements ​ 2 GREAT SOUTHERN BANCORP, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In Thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ THREE MONTHS ENDED ​ ​ MARCH 31, ​ ​ ​ ​ 2026 ​ ​ ​ 2025 ​ ​ (Unaudited) Net Income ​ $ 17,476 ​ $ 17,160 ​ ​ ​ ​ ​ ​ ​ Unrealized appreciation (depreciation) on available-for-sale securities, net of taxes (credit) of $( 497 ) and $ 2,490 , for 2026 and 2025, respectively ​ ​ ( 1,519 ) ​ ​ 7,633 ​ ​ ​ ​ ​ ​ ​ Unrealized loss on securities transferred to held-to-maturity, net of credit of $( 13 ) and $( 15 ) for 2026 and 2025, respectively ​ ​ ( 40 ) ​ ​ ( 44 ) ​ ​ ​ ​ ​ ​ ​ Amortization of realized loss on termination of cash flow hedge, net of credit of $- 0 - and $( 457 ), for 2026 and 2025, respectively ​ ​ — ​ ​ ( 1,546 ) ​ ​ ​ ​ ​ ​ ​ Change in value of active cash flow hedges, net of taxes (credit) of $( 453 ) and $ 1,364 for 2026 and 2025, respectively ​ ​ ( 1,390 ) ​ ​ 4,181 ​ ​ ​ ​ ​ ​ ​ Comprehensive Income ​ $ 14,527 ​ $ 27,384 ​ See Notes to Consolidated Financial Statements ​ ​ 3 GREAT SOUTHERN BANCORP, INC. CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (In Thousands, Except Per Share Data) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ THREE MONTHS ENDED MARCH 31, 2026 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other ​ ​ ​ ​ ​ ​ ​ Common Additional Retained Comprehensive Treasury ​ ​ ​ ​ ​ ​ ​ Stock ​ ​ ​ Paid-in Capital ​ ​ ​ Earnings ​ ​ ​ Income (Loss) ​ ​ ​ Stock ​ ​ ​ Total ​ (Unaudited) Balance, January 1, 2026 $ 111 $ 54,120 ​ $ 614,095 ​ $ ( 32,200 ) $ — $ 636,126 Net income ​ ​ — ​ ​ — ​ ​ 17,476 ​ ​ — ​ ​ — ​ ​ 17,476 Stock issued under Stock Option Plan ​ ​ — ​ ​ 2,006 ​ ​ — ​ ​ — ​ ​ 2,573 ​ ​ 4,579 Common cash dividends declared, $ 0.43 per share ​ ​ — ​ ​ — ​ ​ ( 4,680 ) ​ ​ — ​ ​ — ​ ​ ( 4,680 ) Change in fair value of cash flow hedges ​ ​ — ​ ​ — ​ ​ — ​ ​ ( 1,390 ) ​ ​ — ​ ​ ( 1,390 ) Change in fair value of held-to-maturity securities ​ ​ — ​ ​ — ​ ​ — ​ ​ ( 40 ) ​ ​ — ​ ​ ( 40 ) Change in fair value of available-for-sale securities ​ ​ — ​ ​ — ​ ​ — ​ ​ ( 1,519 ) ​ ​ — ​ ​ ( 1,519 ) Repurchase of the Company’s common stock ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ ( 16,922 ) ​ ​ ( 16,922 ) Reclassification of treasury stock per Maryland law ​ ​ ( 28 ) ​ ​ — ​ ​ ( 14,321 ) ​ ​ — ​ ​ 14,349 ​ ​ — Balance, March 31, 2026 $ 83 $ 56,126 ​ $ 612,570 ​ $ ( 35,149 ) $ — $ 633,630 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ THREE MONTHS ENDED MARCH 31, 2025 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other ​ ​ ​ ​ ​ ​ ​ Common Additional Retained Comprehensive Treasury ​ ​ ​ ​ ​ ​ ​ Stock ​ ​ ​ Paid-in Capital ​ ​ ​ Earnings ​ ​ ​ Income (Loss) ​ ​ ​ Stock ​ ​ ​ Total ​ (Unaudited) Balance, January 1, 2025 ​ $ 117 ​ $ 50,336 ​ $ 603,477 ​ $ ( 54,362 ) ​ $ — ​ $ 599,568 Net income ​ ​ — ​ ​ — ​ ​ 17,160 ​ ​ — ​ ​ — ​ ​ 17,160 Stock issued under Stock Option Plan ​ — ​ ​ 740 ​ ​ — ​ ​ — ​ ​ 441 ​ ​ 1,181 Common cash dividends declared, $ 0.40 per share ​ — ​ ​ — ​ ​ ( 4,626 ) ​ ​ — ​ ​ — ​ ​ ( 4,626 ) Change in fair value of cash flow hedges ​ — ​ ​ — ​ ​ — ​ ​ 2,635 ​ ​ — ​ ​ 2,635 Change in fair value of held-to-maturity securities ​ — ​ ​ — ​ ​ — ​ ​ ( 44 ) ​ ​ — ​ ​ ( 44 ) Change in fair value of available-for-sale securities ​ — ​ ​ — ​ ​ — ​ ​ 7,633 ​ ​ — ​ ​ 7,633 Repurchase of the Company’s common stock ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ ( 10,214 ) ​ ​ ( 10,214 ) Reclassification of treasury stock per Maryland law ​ ( 1 ) ​ ​ — ​ ​ ( 9,772 ) ​ ​ — ​ ​ 9,773 ​ ​ — Balance, March 31, 2025 ​ $ 116 ​ $ 51,076 ​ $ 606,239 ​ $ ( 44,138 ) ​ $ — ​ $ 613,293 ​ See Notes to Consolidated Financial Statements ​ 4 GREAT SOUTHERN BANCORP, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (In Thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ THREE MONTHS ENDED ​ ​ ​ ​ MARCH 31, ​ ​ 2026 ​ ​ ​ 2025 ​ ​ (Unaudited) CASH FLOWS FROM OPERATING ACTIVITIES ​ ​ ​ ​ ​ ​ Net income $ 17,476 ​ $ 17,160 Proceeds from sales of loans held for sale ​ ​ 32,885 ​ ​ 28,761 Originations of loans held for sale ​ ​ ( 31,490 ) ​ ​ ( 27,636 ) Items not requiring (providing) cash: ​ ​ ​ ​ ​ ​ Depreciation ​ ​ 2,143 ​ ​ 1,969 Amortization ​ ​ 116 ​ ​ 186 Compensation expense for stock option grants ​ ​ 494 ​ ​ 456 Provision for credit losses on loans ​ ​ — ​ ​ — Provision (credit) for unfunded commitments ​ ​ ( 931 ) ​ ​ ( 348 ) Net gain on loan sales ​ ​ ( 719 ) ​ ​ ( 601 ) Net (gain) loss on sale of premises and equipment ​ ​ ( 13 ) ​ ​ 2 Net loss on sale/write-down of other real estate owned and repossessions ​ ​ 6 ​ ​ 5 Accretion of deferred income, premiums, discounts and other ​ ​ ( 1,189 ) ​ ​ ( 3,018 ) Loss on derivative interest rate products ​ ​ 2 ​ ​ 24 Deferred income taxes ​ ​ ( 958 ) ​ ​ ( 161 ) Changes in: ​ ​ ​ ​ ​ ​ Interest receivable ​ ​ ( 1,648 ) ​ ​ ( 1,074 ) Prepaid expenses and other assets ​ ​ 2,928 ​ ​ 2,594 Accrued expenses and other liabilities ​ ​ ( 1,175 ) ​ ​ ( 4,896 ) Income taxes refundable/payable ​ ​ 3,257 ​ ​ 1,577 Net cash provided by operating activities ​ ​ 21,184 ​ ​ 15,000 ​ ​ ​ ​ ​ ​ ​ CASH FLOWS FROM INVESTING ACTIVITIES ​ ​ ​ ​ ​ ​ Net change in loans ​ ​ ( 100,513 ) ​ ​ ( 399 ) Purchase of loans ​ ​ — ​ ​ — Purchase of premises and equipment ​ ​ ( 1,302 ) ​ ​ ( 1,932 ) Proceeds from sale of premises and equipment ​ ​ 33 ​ ​ — Proceeds from sale of other real estate owned and repossessions ​ ​ 69 ​ ​ 36 Proceeds from maturities and calls of available-for-sale securities ​ ​ 9 ​ ​ 1,509 Principal reductions on mortgage-backed securities ​ ​ 10,115 ​ ​ 8,238 Purchase of available-for-sale securities ​ ​ — ​ ​ — Investment in tax credit partnerships ​ ​ ( 596 ) ​ ​ ( 639 ) Redemption (purchase) of Federal Home Loan Bank stock and change in other interest-earning assets ​ ​ ( 7,641 ) ​ ​ 2,579 Net cash provided by (used in) investing activities ​ ​ ( 99,826 ) ​ ​ 9,392 ​ ​ ​ ​ ​ ​ ​ CASH FLOWS FROM FINANCING ACTIVITIES ​ ​ ​ ​ ​ ​ Net decrease in certificates of deposit ​ ​ ( 17,018 ) ​ ​ ( 14,076 ) Net increase (decrease) in checking and savings deposits ​ ​ ( 9,136 ) ​ ​ 43,266 Net increase (decrease) in brokered deposits ​ ​ ( 11,459 ) ​ ​ 123,307 Net increase in short-term borrowings ​ ​ 128,463 ​ ​ 36,538 Repayment of borrowing under Federal Reserve Bank Term Funding Program ​ ​ — ​ ​ ( 180,000 ) Advances from borrowers for taxes and insurance ​ ​ 3,240 ​ ​ 2,179 Repurchases of the Company’s common stock ​ ​ ( 16,922 ) ​ ​ ( 10,214 ) Dividends paid ​ ​ ( 4,761 ) ​ ​ ( 4,692 ) Stock options exercised ​ ​ 4,085 ​ ​ 725 Net cash provided by (used in) financing activities ​ ​ 76,492 ​ ​ ( 2,967 ) ​ ​ ​ ​ ​ ​ ​ INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS ​ ​ ( 2,150 ) ​ ​ 21,425 CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD ​ 189,554 ​ ​ 195,756 CASH AND CASH EQUIVALENTS, END OF PERIOD ​ $ 187,404 ​ $ 217,181 ​ See Notes to Consolidated Financial Statements ​ ​ 5 ​ GREAT SOUTHERN BANCORP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 1: BASIS OF PRESENTATION The accompanying unaudited interim consolidated financial statements of Great Southern Bancorp, Inc. (the “Company,” “GSBC” or “Great Southern”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. The financial statements presented herein reflect all adjustments which are, in the opinion of management, necessary to fairly present the financial condition, results of operations, changes in stockholders’ equity and cash flows of the Company as of the dates and for the periods presented. Those adjustments consist only of normal recurring adjustments. Operating results for the three months ended March 31, 2026 are not necessarily indicative of the results that may be expected for the full year. The consolidated statement of financial condition of the Company as of December 31, 2025, has been derived from the audited consolidated statement of financial condition of the Company as of that date. Certain information and note disclosures normally included in the Company’s annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 filed with the Securities and Exchange Commission (the “SEC”). Principles of Consolidation The consolidated financial statements include the accounts of GSBC, its wholly owned subsidiary, Great Southern Bank (the “Bank”), and the Bank’s wholly owned subsidiaries, Great Southern Real Estate Development Corporation, GSB One LLC (including its wholly owned subsidiary, GSB Two LLC), Great Southern Community Development Company, LLC (including its wholly owned subsidiary, Great Southern CDE, LLC), GS, LLC, GSSC, LLC, GSTC Investments, LLC, GS-RE Holding, LLC (including its wholly owned subsidiary, GS RE Management, LLC), GS-RE Holding II, LLC, and GS-RE Holding III, LLC. All significant intercompany accounts and transactions have been eliminated in consolidation. Reclassifications Prior period consolidated financial statements are reclassified where necessary to conform to the current period presentation. ​ NOTE 2: NATURE OF OPERATIONS AND OPERATING SEGMENTS GSBC operates as a one-bank holding company. GSBC’s business primarily consists of the operations of the Bank, which provides a full range of financial services to customers primarily located in Missouri, Iowa, Kansas, Minnesota, Nebraska and Arkansas. The Bank also originates commercial loans from lending offices in Atlanta; Charlotte, North Carolina; Chicago; Dallas; Denver; Omaha, Nebraska; and Phoenix. GSBC and the Bank are subject to regulation by certain federal and state agencies and undergo periodic examinations by those regulatory agencies. The Company’s banking operation is its only reportable segment. The banking operation is principally engaged in the business of originating residential and commercial real estate loans, construction loans, commercial business loans and consumer loans and funding these loans by attracting deposits from the general public, accepting brokered deposits and borrowing from the Federal Home Loan Bank and others. The operating results of this segment are regularly reviewed by management to make decisions about resource allocations and to assess performance. Selected information is not presented separately for the Company’s reportable segment, as there is no material difference between that information and the corresponding information in the consolidated financial statements. ​ NOTE 3: RECENT ACCOUNTING PRONOUNCEMENTS In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ASU 2023-09 is focused on additional income tax disclosures and requires public business entities, on an annual basis, to disclose specific categories in the rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold (if the effect of those reconciling items is equal to or greater than 5 percent of the amount computed by multiplying pretax income by the applicable statutory income tax rate). ASU 2023-09 became effective for the Company beginning with the fiscal year ended December 31, 2025 and did not have a material impact on the Company’s consolidated financial statements. 6 ​ In November 2024, the FASB issued ASU No. 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses . ASU 2024-03 requires disaggregated disclosure of income statement expenses for public business entities. ASU 2024-03 requires new financial statement disclosures in tabular format, disaggregating information about prescribed categories underlying any relevant income statement expense caption. The prescribed categories include, among other things, employee compensation, depreciation, and intangible asset amortization. Additionally, entities must disclose the total amount of selling expenses and, in annual reporting periods, an entity’s definition of selling expenses. ASU 2024-03 is effective for us, on a prospective basis, for annual periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027, although early adoption and retrospective application is permitted. ASU 2024-03 is currently not expected to have a material impact on the Company’s consolidated financial statements but will impact disclosures. ​ In November 2025, the FASB issued ASU No. 2025-08, Financial Instruments – Credit Losses (Topic 326): Purchased Loans . ASU 2025-08 expands the scope of the “gross up” method, formerly applicable only to purchased credit-deteriorated (PCD) assets, to include acquired non-PCD loans that meet certain criteria, now referred to as “purchased seasoned loans” (PSLs). Under this ASU, an allowance for expected credit losses is recognized at acquisition, offsetting the loan’s amortized cost basis, thereby eliminating the day-one credit-loss expense previously required for non-PCD assets. PSLs are defined as non-PCD loans acquired either (1) through a business combination, or (2) purchased more than 90 days after origination when the acquirer was not involved in origination. ASU 2025-08 is effective for us, on a prospective basis for loans acquired on or after the adoption date, for interim and annual reporting periods beginning in 2027, though early adoption is permitted. ASU 2025-08 is not expected to have a significant impact on the Company’s consolidated financial statements. ​ In November 2025, the FASB issued ASU No. 2025-09, Derivatives and Hedging (Topic 815): Hedge Accounting Improvements . ASU 2025-09 amends ASC 815 to align hedge accounting more closely with an entity’s economic risk management practices. Key amendments (1) allow designating a variable price component of a nonfinancial forecasted purchase or sale as the hedged risk, (2) allow grouping individual forecasted transactions with similar (not identical) risk exposures, (3) include a new model for hedging forecasted interest on variable-rate debt, enabling changes in index or tenor without designation, subject to simplifying assumptions, and (4) provide additional clarifications related to hedge accounting of nonfinancial components, net written options, and dual-hedge strategies. ASU 2025-09 is effective for us beginning in 2027, though early adoption is permitted. ASU 2025-09 is not expected to have a significant impact on the Company’s consolidated financial statements. ​ In December 2025, the FASB issued ASU No. 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements . ASU 2025-11 clarifies and enhances guidance under ASC 270 on interim financial reporting by (1) clarifying the scope of ASC 270 such that it now explicitly applies only to entities that issue complete interim financial statements and related notes under U.S. GAAP, (2) establishing clear guidance on the form of interim statements and notes, incorporating a comprehensive list of required interim disclosures, and (3) introducing a requirement to disclose material events and changes occurring after the end of the last annual period that could impact interim results. ASU 2025-11 is effective for us for interim periods beginning in 2028, though early adoption is permitted. ASU 2025-11 is not expected to have a significant impact on the Company’s consolidated financial statements. ​ NOTE 4: EARNINGS PER SHARE ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2026 ​ ​ ​ 2025 ​ ​ ​ ​ (In Thousands, Except Per Share Data) Basic: ​ ​ ​ ​ ​ ​ Average common shares outstanding ​ 10,988 ​ 11,640 Net income $ 17,476 $ 17,160 Per common share amount $ 1.59 $ 1.47 ​ ​ ​ ​ ​ ​ ​ Diluted: ​ ​ ​ ​ ​ ​ Average common shares outstanding ​ ​ 10,988 ​ ​ 11,640 Net effect of dilutive stock options – based on the treasury stock method using average market price ​ ​ 61 ​ ​ 52 Diluted common shares ​ ​ 11,049 ​ ​ 11,692 Net income $ 17,476 $ 17,160 Per common share amount $ 1.58 $ 1.47 ​ 7 ​ Options outstanding at March 31, 2026 and 2025, to purchase 581,322 and 854,813 shares of common stock, respectively, were not included in the computation of diluted earnings per common share for each of the three-month periods then ended because the exercise prices of such options were greater than the average market price of the common stock for the three months ended March 31, 2026 and 2025, respectively. ​ NOTE 5: INVESTMENT SECURITIES Available-for-sale securities (“AFS”), which include any security for which the Company has no immediate plan to sell but which may be sold in the future, are carried at fair value. Realized gains and losses, based on the specifically identified amortized cost of the individual security, are included in non-interest income. Unrealized gains and losses are recorded, net of related income tax effects, in stockholders’ equity. Premiums and discounts are amortized and accreted, respectively, to interest income over the estimated life of the security. Prepayments are anticipated for certain mortgage-backed and Small Business Administration (SBA) securities. Premiums on callable securities are amortized to their earliest call date. Held-to-maturity securities (“HTM”), which include any security for which the Company has both the positive intent and ability to hold until maturity, are carried at historical cost adjusted for amortization of premiums and accretion of discounts. Premiums and discounts are amortized and accreted, respectively, to interest income over the security’s estimated life. Prepayments are anticipated for certain mortgage-backed securities. Premiums on callable securities are amortized to their earliest call date. The amortized cost and fair values of securities were as follows at the dates indicated: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2026 ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ Cost ​ ​ ​ Gains ​ ​ ​ Losses ​ ​ ​ Value ​ (In Thousands) AVAILABLE-FOR-SALE SECURITIES: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agency mortgage-backed securities $ 320,297 $ 380 $ 25,920 $ 294,757 Agency collateralized mortgage obligations ​ ​ 119,018 ​ ​ 771 ​ ​ 5,930 ​ ​ 113,859 States and political subdivisions ​ ​ 53,224 ​ ​ 76 ​ ​ 2,486 ​ ​ 50,814 Small Business Administration securities ​ ​ 59,922 ​ ​ — ​ ​ 5,506 ​ ​ 54,416 ​ $ 552,461 $ 1,227 $ 39,842 $ 513,846 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2026 ​ ​ ​ ​ ​ ​ Amortized ​ Gross ​ Gross ​ ​ ​ ​ Amortized ​ Fair Value ​ Carrying ​ Unrealized ​ Unrealized ​ Fair ​ ​ ​ ​ Cost ​ ​ ​ Adjustment ​ ​ ​ Value ​ ​ ​ Gains ​ ​ ​ Losses ​ ​ ​ Value ​ ​ (In Thousands) HELD-TO-MATURITY SECURITIES: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agency mortgage-backed securities ​ $ 69,377 ​ $ 1,179 ​ $ 70,556 ​ $ — ​ $ 5,820 ​ $ 64,736 Agency collateralized mortgage obligations ​ 102,711 ​ ( 1,778 ) ​ 100,933 ​ — ​ 10,739 ​ 90,194 States and political subdivisions ​ 6,076 ​ 29 ​ 6,105 ​ — ​ 515 ​ 5,590 ​ ​ $ 178,164 ​ $ ( 570 ) ​ $ 177,594 ​ $ — ​ $ 17,074 ​ $ 160,520 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2025 ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ Cost ​ ​ ​ Gains ​ ​ ​ Losses ​ ​ ​ Value ​ (In Thousands) AVAILABLE-FOR-SALE SECURITIES: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agency mortgage-backed securities $ 325,618 $ 805 $ 25,174 $ 301,249 Agency collateralized mortgage obligations ​ ​ 120,465 ​ ​ 933 ​ ​ 6,065 ​ ​ 115,333 States and political subdivisions securities ​ ​ 53,347 ​ ​ 89 ​ ​ 2,038 ​ ​ 51,398 Small Business Administration securities ​ ​ 61,000 ​ ​ 14 ​ ​ 5,163 ​ ​ 55,851 ​ $ 560,430 $ 1,841 $ 38,440 $ 523,831 8 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2025 ​ ​ ​ ​ ​ ​ ​ ​ Amortized ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Fair Value ​ Carrying ​ Unrealized ​ Unrealized ​ Fair ​ ​ ​ ​ Cost ​ ​ ​ Adjustment ​ ​ ​ Value ​ ​ ​ Gains ​ ​ ​ Losses ​ ​ ​ Value ​ ​ (In Thousands) HELD-TO-MATURITY SECURITIES: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agency mortgage-backed securities ​ $ 69,713 ​ $ 1,313 ​ $ 71,026 ​ $ — ​ $ 5,694 ​ $ 65,332 Agency collateralized mortgage obligations ​ 103,918 ​ ( 1,857 ) ​ 102,061 ​ — ​ 10,424 ​ 91,637 States and political subdivisions ​ 6,086 ​ 27 ​ 6,113 ​ — ​ 453 ​ 5,660 ​ ​ $ 179,717 ​ $ ( 517 ) ​ $ 179,200 ​ $ — ​ $ 16,571 ​ $ 162,629 ​ The amortized cost and fair value of available-for-sale and held-to-maturity securities at March 31, 2026, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Available-for-Sale ​ Held-to-Maturity ​ ​ Amortized ​ Fair ​ Amortized ​ Fair ​ ​ ​ ​ Cost ​ ​ ​ Value ​ ​ ​ Carrying Value ​ ​ ​ Value ​ ​ (In Thousands) One year or less ​ $ — ​ $ — ​ $ — $ — After one through two years ​ ​ 1,029 ​ ​ 1,037 ​ ​ — ​ ​ — After two through three years ​ ​ — ​ ​ — ​ ​ — ​ ​ — After three through four years ​ ​ — ​ ​ — ​ ​ — ​ ​ — After four through five years ​ ​ — ​ ​ — ​ ​ — ​ ​ — After five through fifteen years ​ ​ 26,290 ​ ​ 25,243 ​ ​ 6,105 ​ ​ 5,590 After fifteen years ​ ​ 25,905 ​ ​ 24,534 ​ ​ — ​ ​ — Securities not due on a single maturity date ​ ​ 499,237 ​ ​ 463,032 ​ ​ 171,489 ​ ​ 154,930 ​ ​ $ 552,461 ​ $ 513,846 ​ $ 177,594 $ 160,520 ​ Available-for-sale investments in debt securities are reported in the financial statements at their fair value. The total fair value of these investments at March 31, 2026 and December 31, 2025, was approximately $ 513.8 million and $ 523.8 million, respectively. Total fair value of these investments for which the amortized cost exceeded the fair value at March 31, 2026 and December 31, 2025, was $ 428.1 million and $ 409.0 million, respectively, which was approximately 83.3 % and 78.1 % of the Company’s total available-for-sale investment portfolio at those dates. A high percentage of the unrealized losses were related to the Company’s mortgage-backed securities, collateralized mortgage obligations and Small Business Administration (SBA) securities, which are issued and guaranteed by U.S. government-sponsored entities and agencies. The Company’s state and political subdivision securities are investments in insured fixed rate municipal bonds for which the issuers continue to make timely principal and interest payments under the contractual terms of the securities. Held-to-maturity investments in debt securities are reported in the financial statements at their amortized carrying value at March 31, 2026 and December 31, 2025, which was $ 177.6 million and $ 179.2 million, respectively. Total fair value of these investments at March 31, 2026 and December 31, 2025 was approximately $ 160.5 million and $ 162.6 million, respectively. The amortized carrying value exceeded the fair value of all held-to-maturity securities at both March 31, 2026 and December 31, 2025. Held-to-maturity investment securities are evaluated for potential losses under ASU 2016-13. The Company continually assesses its liquidity sources, both on-balance sheet and off-balance sheet, and believes that at March 31, 2026, it had ample liquidity sources to fund its ongoing operations without selling investment securities in this portfolio. Based on evaluation of available evidence, including recent changes in market interest rates, credit rating information and information obtained from regulatory filings of issuers, management believes the declines in fair value for the Company’s available-for-sale debt securities are not credit related. 9 ​ The following table shows the Company’s gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at March 31, 2026 and December 31, 2025: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2026 ​ ​ Less than 12 Months ​ 12 Months or More ​ Total ​ ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Fair ​ Unrealized Description of Securities ​ ​ ​ ​ Value ​ ​ ​ Losses ​ ​ ​ Value ​ ​ ​ Losses ​ ​ ​ Value ​ ​ ​ Losses ​ (In Thousands) AVAILABLE-FOR-SALE SECURITIES: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agency mortgage-backed securities $ 20,762 ​ $ ( 21 ) ​ $ 236,437 ​ $ ( 25,899 ) ​ $ 257,199 ​ $ ( 25,920 ) Agency collateralized mortgage obligations ​ ​ 9,098 ​ ​ ( 95 ) ​ ​ 60,041 ​ ​ ( 5,835 ) ​ ​ 69,139 ​ ​ ( 5,930 ) States and political subdivisions securities ​ ​ 10,724 ​ ​ ( 289 ) ​ ​ 36,633 ​ ​ ( 2,197 ) ​ ​ 47,357 ​ ​ ( 2,486 ) Small Business Administration securities ​ ​ 6,971 ​ ​ ( 59 ) ​ ​ 47,445 ​ ​ ( 5,447 ) ​ ​ 54,416 ​ ​ ( 5,506 ) ​ $ 47,555 ​ $ ( 464 ) ​ $ 380,556 ​ $ ( 39,378 ) ​ $ 428,111 ​ $ ( 39,842 ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ HELD-TO-MATURITY SECURITIES: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agency mortgage-backed securities ​ $ — ​ $ — ​ $ 64,736 ​ $ ( 5,820 ) ​ $ 64,736 ​ $ ( 5,820 ) Agency collateralized mortgage obligations ​ ​ — ​ ​ — ​ ​ 90,194 ​ ​ ( 10,739 ) ​ ​ 90,194 ​ ​ ( 10,739 ) States and political subdivisions securities ​ ​ — ​ ​ — ​ ​ 5,590 ​ ​ ( 515 ) ​ ​ 5,590 ​ ​ ( 515 ) ​ ​ $ — ​ $ — ​ $ 160,520 ​ $ ( 17,074 ) ​ $ 160,520 ​ $ ( 17,074 ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2025 ​ ​ Less than 12 Months ​ 12 Months or More ​ Total ​ ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Fair ​ Unrealized Description of Securities ​ ​ ​ ​ Value ​ ​ ​ Losses ​ ​ ​ ​ Value ​ ​ ​ Losses ​ ​ ​ Value ​ ​ ​ Losses ​ (In Thousands) AVAILABLE-FOR-SALE SECURITIES: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agency mortgage-backed securities $ — $ — $ 241,503 $ ( 25,174 ) $ 241,503 $ ( 25,174 ) Agency collateralized mortgage obligations ​ ​ — ​ ​ — ​ ​ 70,774 ​ ​ ( 6,065 ) ​ ​ 70,774 ​ ​ ( 6,065 ) States and political subdivisions securities ​ ​ 4,409 ​ ​ ( 109 ) ​ ​ 43,528 ​ ​ ( 1,929 ) ​ ​ 47,937 ​ ​ ( 2,038 ) Small Business Administration securities ​ ​ — ​ ​ — ​ ​ 48,807 ​ ​ ( 5,163 ) ​ ​ 48,807 ​ ​ ( 5,163 ) ​ $ 4,409 ​ $ ( 109 ) $ 404,612 ​ $ ( 38,331 ) $ 409,021 ​ $ ( 38,440 ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ HELD-TO-MATURITY SECURITIES: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agency mortgage-backed securities ​ $ — ​ $ — ​ $ 65,332 ​ $ ( 5,694 ) ​ $ 65,332 ​ $ ( 5,694 ) Agency collateralized mortgage obligations ​ ​ — ​ ​ — ​ ​ 91,637 ​ ​ ( 10,424 ) ​ ​ 91,637 ​ ​ ( 10,424 ) States and political subdivisions securities ​ ​ — ​ ​ — ​ ​ 5,660 ​ ​ ( 453 ) ​ ​ 5,660 ​ ​ ( 453 ) ​ ​ $ — ​ $ — ​ $ 162,629 ​ $ ( 16,571 ) ​ $ 162,629 ​ $ ( 16,571 ) ​ There were no sales of available-for-sale securities during the three months ended March 31, 2026 or March 31, 2025. Allowance for Credit Losses. The Company evaluates all securities quarterly to determine if any securities in a loss position require a provision for credit losses in accordance with ASC 326, Measurement of Credit Losses on Financial Instruments . All of the mortgage-backed, collateralized mortgage, and SBA securities held by the Company as of March 31, 2026 were issued by U.S. government-sponsored entities and agencies. These securities are either explicitly or implicitly guaranteed by the U.S. government, are highly rated by major rating agencies and have a long history of no credit losses. Likewise, the Company has not historically experienced losses on these types of securities. Accordingly, no allowance for credit losses has been recorded for these securities. Regarding securities issued by state and political subdivisions, management considers the following when evaluating these securities: (i) current issuer bond ratings, (ii) historical loss rates for given bond ratings, (iii) whether issuers continue to make timely principal and interest payments under the contractual terms of the securities, (iv) updated financial information of the issuer, (v) internal forecasts and (vi) whether such securities provide insurance or other credit enhancement or are pre-refunded by the issuers. These securities are highly rated by major rating agencies and have a long history of no credit losses. Likewise, the Company has not experienced historical losses on these types of securities. Accordingly, no allowance for credit losses has been recorded for these securities. ​ 10 ​ NOTE 6: LOANS AND ALLOWANCE FOR CREDIT LOSSES The Company measures the allowance for credit losses under ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , referred to as the CECL methodology. The measurement of expected credit losses under the CECL methodology is applicable to financial assets measured at amortized cost, including loans receivable. It also applies to off-balance sheet credit exposures not accounted for as insurance, including loan commitments, standby letters of credit, financial guarantees, and other similar instruments. Classes of loans at March 31, 2026 and December 31, 2025 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ ​ ​ December 31, ​ ​ 2026 ​ 2025 ​ ​ (In Thousands) One- to four-family residential construction $ 38,981 ​ $ 30,258 ​ Subdivision construction ​ ​ 23,008 ​ ​ 32,160 ​ Land development ​ ​ 43,555 ​ ​ 37,519 ​ Commercial construction ​ ​ 326,602 ​ ​ 249,224 ​ Owner occupied one- to four-family residential ​ ​ 651,228 ​ ​ 656,699 ​ Non-owner occupied one- to four-family residential ​ ​ 131,499 ​ ​ 125,298 ​ Commercial real estate ​ ​ 1,583,124 ​ ​ 1,556,148 ​ Other residential (multi-family) ​ ​ 1,369,294 ​ ​ 1,387,410 ​ Commercial business ​ ​ 180,182 ​ ​ 178,514 ​ Consumer auto ​ ​ 23,372 ​ ​ 24,169 ​ Consumer other ​ ​ 21,449 ​ ​ 22,249 ​ Home equity lines of credit ​ ​ 134,704 ​ ​ 128,030 ​ ​ ​ ​ 4,526,998 ​ ​ 4,427,678 ​ Allowance for credit losses ​ ​ ( 64,784 ) ​ ​ ( 64,771 ) ​ Deferred loan fees and gains, net ​ ​ ( 5,575 ) ​ ​ ( 6,054 ) ​ ​ $ 4,456,639 ​ $ 4,356,853 ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average interest rate ​ ​ 5.78 % ​ 5.76 % ​ Classes of loans by aging were as follows as of the dates indicated. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2026 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Loans ​ ​ ​ ​ ​ ​ ​ ​ Over 90 ​ ​ ​ ​ ​ ​ ​ Total ​ > 90 Days Past ​ ​ 30-59 Days ​ 60-89 Days ​ Days ​ Total Past ​ ​ ​ ​ Loans ​ Due and ​ ​ Past Due ​ ​ ​ Past Due ​ ​ ​ Past Due ​ ​ ​ Due ​ ​ ​ Current ​ ​ ​ Receivable ​ ​ ​ Still Accruing ​ ​ (In Thousands) One- to four-family residential construction $ 34 ​ $ — ​ $ — ​ $ 34 ​ $ 38,947 ​ $ 38,981 ​ $ — Subdivision construction ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 23,008 ​ ​ 23,008 ​ ​ — Land development ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 43,555 ​ ​ 43,555 ​ ​ — Commercial construction ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 326,602 ​ ​ 326,602 ​ ​ — Owner occupied one- to four-family residential ​ ​ 2,224 ​ ​ — ​ ​ 703 ​ ​ 2,927 ​ ​ 648,301 ​ ​ 651,228 ​ ​ — Non-owner occupied one- to four-family residential ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 131,499 ​ ​ 131,499 ​ ​ — Commercial real estate ​ ​ 188 ​ ​ — ​ ​ 2,725 ​ ​ 2,913 ​ ​ 1,580,211 ​ ​ 1,583,124 ​ ​ — Other residential (multi-family) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 1,369,294 ​ ​ 1,369,294 ​ ​ — Commercial business ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 180,182 ​ ​ 180,182 ​ ​ — Consumer auto ​ ​ 12 ​ ​ 1 ​ ​ — ​ ​ 13 ​ ​ 23,359 ​ ​ 23,372 ​ ​ — Consumer other ​ ​ 108 ​ ​ 10 ​ ​ 8 ​ ​ 126 ​ ​ 21,323 ​ ​ 21,449 ​ ​ — Home equity lines of credit ​ ​ 101 ​ ​ — ​ ​ 18 ​ ​ 119 ​ ​ 134,585 ​ ​ 134,704 ​ ​ — Total ​ $ 2,667 ​ $ 11 ​ $ 3,454 ​ $ 6,132 ​ $ 4,520,866 ​ $ 4,526,998 ​ $ — 11 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2025 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Loans ​ ​ ​ ​ ​ ​ Over 90 ​ ​ ​ ​ ​ Total ​ > 90 Days Past ​ ​ 30-59 Days ​ 60-89 Days ​ Days ​ Total Past ​ ​ ​ ​ Loans ​ Due and ​ ​ Past Due ​ ​ ​ Past Due ​ ​ ​ Past Due ​ ​ ​ Due ​ ​ ​ Current ​ ​ ​ Receivable ​ ​ ​ Still Accruing ​ ​ (In Thousands) One- to four-family residential construction $ — ​ $ — ​ $ — ​ $ — ​ $ 30,258 ​ $ 30,258 ​ $ — Subdivision construction ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 32,160 ​ ​ 32,160 ​ ​ — Land development ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 37,519 ​ ​ 37,519 ​ ​ — Commercial construction ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 249,224 ​ ​ 249,224 ​ ​ — Owner occupied one- to four-family residential ​ ​ 830 ​ ​ 521 ​ ​ 631 ​ ​ 1,982 ​ ​ 654,717 ​ ​ 656,699 ​ ​ — Non-owner occupied one- to four-family residential ​ ​ — ​ ​ — ​ ​ 1,435 ​ ​ 1,435 ​ ​ 123,863 ​ ​ 125,298 ​ ​ — Commercial real estate ​ ​ 70 ​ ​ — ​ ​ — ​ ​ 70 ​ ​ 1,556,078 ​ ​ 1,556,148 ​ ​ — Other residential (multi-family) ​ ​ 24,762 ​ ​ — ​ ​ — ​ ​ 24,762 ​ ​ 1,362,648 ​ ​ 1,387,410 ​ ​ — Commercial business ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 178,514 ​ ​ 178,514 ​ ​ — Consumer auto ​ ​ 27 ​ ​ 12 ​ ​ — ​ ​ 39 ​ ​ 24,130 ​ ​ 24,169 ​ ​ — Consumer other ​ ​ 128 ​ ​ 30 ​ ​ 10 ​ ​ 168 ​ ​ 22,081 ​ ​ 22,249 ​ ​ — Home equity lines of credit ​ ​ 74 ​ ​ — ​ ​ 18 ​ ​ 92 ​ ​ 127,938 ​ ​ 128,030 ​ ​ — Total ​ $ 25,891 ​ $ 563 ​ $ 2,094 ​ $ 28,548 ​ $ 4,399,130 ​ $ 4,427,678 ​ $ — ​ Loans are placed on nonaccrual status at 90 days past due and interest is considered a loss unless the loan is well secured and in the process of collection. Payments received on nonaccrual loans are applied to principal until the loans are returned to accrual status. Loans are returned to accrual status when all payments contractually due are brought current, payment performance is sustained for a period of time, generally six months, and future payments are reasonably assured. With the exception of consumer loans, charge-offs on loans are recorded when available information indicates a loan is not fully collectible and the loss is reasonably quantifiable. Consumer loans are charged-off at specified delinquency dates consistent with regulatory guidelines. Nonaccruing loans are summarized as follows as of the dates indicated: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ ​ ​ December 31, ​ ​ 2026 ​ 2025 ​ ​ (In Thousands) One- to four-family residential construction ​ $ — ​ $ — Subdivision construction ​ ​ — ​ ​ — Land development ​ ​ — ​ ​ — Commercial construction ​ ​ — ​ ​ — Owner occupied one- to four-family residential ​ ​ 703 ​ ​ 631 Non-owner occupied one- to four-family residential ​ ​ — ​ ​ 1,435 Commercial real estate ​ ​ — ​ ​ — Other residential (multi-family) ​ ​ 2,725 ​ ​ — Commercial business ​ ​ — ​ ​ — Consumer auto ​ ​ — ​ ​ — Consumer other ​ ​ 9 ​ ​ 10 Home equity lines of credit ​ ​ 17 ​ ​ 18 Total nonaccruing loans ​ $ 3,454 ​ $ 2,094 ​ During the three months ended March 31, 2026, the Company recorded $ 120,000 in interest income related to recoveries on nonaccrual loans. No interest income was recorded on nonaccrual loans for the three months ended March 31, 2025. Nonaccrual loans for which there is no related allowance for credit losses as of March 31, 2026 and December 31, 2025, had an amortized cost of $ 3.3 million and $ 2.0 million, respectively. These loans were individually assessed and did not require an allowance due to being adequately collateralized under the collateral-dependent valuation method at those dates. A collateral-dependent loan is a financial asset for which the repayment is expected to be provided substantially through the operation or sale of the collateral when the borrower is experiencing financial difficulty based on the Company’s assessment as of the reporting date. Collateral-dependent loans are identified primarily by a classified risk rating with a loan balance equal to or greater than $ 100,000 , including, but not limited to, any loan in the process of foreclosure or repossession. 12 ​ The following table presents the activity in the allowance for credit losses by portfolio segment for the three months ended March 31, 2026 and 2025. During the three months ended March 31, 2026 and 2025, the Company did no t record a provision expense on its portfolio of outstanding loans. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One- to Four- ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Family ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential and ​ Other ​ Commercial ​ Commercial ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction ​ ​ ​ Residential ​ ​ ​ Real Estate ​ ​ ​ Construction ​ ​ ​ Business ​ ​ ​ Consumer ​ ​ ​ Total ​ ​ (In Thousands) Allowance for credit losses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance, January 1, 2025 ​ $ 9,224 ​ $ 15,594 ​ $ 28,802 ​ $ 2,735 ​ $ 4,656 ​ $ 3,749 ​ $ 64,760 Provision (credit) charged to expense ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Losses charged off ​ ​ ( 36 ) ​ ​ — ​ ​ ( 8 ) ​ ​ — ​ ​ ( 147 ) ​ ​ ( 234 ) ​ ​ ( 425 ) Recoveries ​ ​ 4 ​ ​ — ​ ​ — ​ ​ 194 ​ ​ 13 ​ ​ 158 ​ ​ 369 Balance, March 31, 2025 ​ $ 9,192 ​ $ 15,594 ​ $ 28,794 ​ $ 2,929 ​ $ 4,522 ​ $ 3,673 ​ $ 64,704 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for credit losses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance, January 1, 2026 ​ $ 7,483 ​ $ 18,476 ​ $ 29,223 ​ $ 2,396 ​ $ 3,911 ​ $ 3,282 ​ $ 64,771 Provision (credit) charged to expense ​ ​ 167 ​ ​ 345 ​ ​ ( 454 ) ​ ​ ( 69 ) ​ ​ ( 8 ) ​ ​ 19 ​ ​ — Losses charged off ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ ( 309 ) ​ ​ ( 309 ) Recoveries ​ ​ 3 ​ ​ — ​ ​ 16 ​ ​ — ​ ​ 117 ​ ​ 186 ​ ​ 322 Balance, March 31, 2026 ​ $ 7,653 ​ $ 18,821 ​ $ 28,785 ​ $ 2,327 ​ $ 4,020 ​ $ 3,178 ​ $ 64,784 ​ The following table presents the activity in the allowance for unfunded commitments by portfolio segment for the three months ended March 31, 2026 and 2025. The provision for losses on unfunded commitments for the three months ended March 31, 2026 was a credit (negative expense) of $ 931,000 , compared to a credit (negative expense) of $ 348,000 for the three months ended March 31, 2025. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One- to Four- ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Family ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential and ​ Other ​ Commercial ​ Commercial ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ Construction ​ ​ ​ Residential ​ ​ ​ Real Estate ​ ​ ​ Construction ​ ​ ​ Business ​ ​ ​ Consumer ​ ​ ​ Total ​ ​ ​ ​ (In Thousands) Allowance for unfunded commitments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance, January 1, 2025 ​ $ 619 ​ $ 4,833 ​ $ 653 ​ $ 496 ​ $ 1,468 ​ $ 434 ​ $ 8,503 Provision (credit) charged to expense ​ ​ 39 ​ ​ ( 239 ) ​ ​ ( 33 ) ​ ​ ( 78 ) ​ ​ ( 40 ) ​ ​ 3 ​ ​ ( 348 ) Balance, March 31, 2025 ​ $ 658 ​ $ 4,594 ​ $ 620 ​ $ 418 ​ $ 1,428 ​ $ 437 ​ $ 8,155 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for unfunded commitments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance, January 1, 2026 ​ $ 967 ​ $ 4,580 ​ $ 699 ​ $ 637 ​ $ 1,302 ​ $ 363 ​ $ 8,548 Provision (credit) charged to expense ​ ( 105 ) ​ ​ ( 582 ) ​ ​ ( 90 ) ​ ​ 63 ​ ​ ( 215 ) ​ ​ ( 2 ) ​ ​ ( 931 ) Balance, March 31, 2026 ​ $ 862 ​ $ 3,998 ​ $ 609 ​ $ 700 ​ $ 1,087 ​ $ 361 ​ $ 7,617 ​ The portfolio segments used in the preceding tables correspond to the loan classes used in all other tables in Note 6 as follows: ● The one- to four-family residential and construction segment includes the one- to four-family residential construction, subdivision construction, owner occupied one- to four-family residential and non-owner occupied one- to four-family residential classes. ● The other residential (multi-family) segment corresponds to the other residential (multi-family) class. ● The commercial real estate segment includes the commercial real estate and industrial revenue bonds classes. ● The commercial construction segment includes the land development and commercial construction classes. ● The commercial business segment corresponds to the commercial business class. ● The consumer segment includes the consumer auto, consumer other and home equity lines of credit classes. 13 ​ The following table presents the amortized cost basis of collateral-dependent loans by class of loans as of the dates indicated: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2026 ​ ​ ​ December 31, 2025 ​ ​ Principal ​ ​ ​ Specific ​ Principal ​ Specific ​ ​ ​ ​ Balance ​ ​ ​ Allowance ​ ​ ​ Balance ​ ​ ​ Allowance ​ ​ (In Thousands) One- to four-family residential construction ​ $ — ​ $ — ​ $ — ​ $ — Subdivision construction ​ — ​ ​ — ​ ​ — ​ ​ — Land development ​ — ​ ​ — ​ ​ — ​ ​ — Commercial construction ​ — ​ ​ — ​ ​ — ​ ​ — Owner occupied one- to four- family residential ​ 1,077 ​ ​ — ​ ​ 1,207 ​ ​ — Non-owner occupied one- to four-family residential ​ — ​ ​ — ​ ​ 1,435 ​ ​ — Commercial real estate ​ — ​ ​ — ​ ​ — ​ ​ — Other residential (multi-family) ​ 2,725 ​ ​ — ​ ​ — ​ ​ — Commercial business ​ — ​ ​ — ​ ​ — ​ ​ — Consumer auto ​ — ​ ​ — ​ ​ — ​ ​ — Consumer other ​ — ​ ​ — ​ ​ — ​ ​ — Home equity lines of credit ​ 120 ​ ​ — ​ ​ — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 3,922 ​ $ — ​ $ 2,642 ​ $ — ​ Modified Loans. Loan modifications are reported if concessions have been granted to borrowers that are experiencing financial difficulty. The estimate of lifetime expected losses utilized in the allowance for credit losses model is developed using average historical loss on loans with similar risk characteristics, which includes losses from modifications of loans to borrowers experiencing financial difficulty. As a result, a charge to the allowance for credit losses is generally not recorded upon modification. For modifications to loans made to borrowers experiencing financial difficulty that are adversely classified, the Company determines the allowance for credit losses on an individual basis, using the same process that it utilizes for other adversely classified loans. If collection efforts have begun and the modified loan is subsequently deemed collateral-dependent, the loan is placed on nonaccrual status and the allowance for credit losses is determined based on an individual evaluation. If necessary, the loan is charged down to fair market value less estimated sales costs. The following table shows, as of the date indicated, the composition of modifications made to loans to borrowers experiencing financial difficulty, by the loan class and type of concession granted. There were no such modifications at March 31, 2026. During the three months ended March 31, 2026, principal forgiveness of $ 8,000 was completed on consumer loans. During the three months ended March 31, 2025, principal forgiveness of $ 7,000 was completed on consumer loans. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized Cost Basis at December 31, 2025 ​ ​ Interest Rate ​ Term ​ ​ ​ Total ​ ​ ​ ​ Reduction ​ ​ ​ Extension ​ ​ ​ Combination ​ ​ ​ Modifications ​ ​ ​ (In Thousands) Construction and land development $ — ​ $ — ​ $ — ​ $ — One- to four-family residential ​ — ​ ​ — ​ ​ — ​ ​ — Other residential (multi-family) ​ — ​ ​ — ​ ​ — ​ ​ — Commercial real estate ​ — ​ ​ — ​ ​ — ​ ​ — Commercial business ​ — ​ ​ — ​ ​ — ​ ​ — Consumer ​ 5 ​ ​ — ​ ​ — ​ ​ 5 ​ $ 5 ​ $ — ​ $ — ​ $ 5 ​ 14 ​ The Company closely monitors the performance of loans to borrowers experiencing financial difficulty that are modified to understand the effectiveness of its modification efforts. The following table depicts the performance of loans (under modified terms) at December 31, 2025. There were no such loans at March 31, 2026. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2025 ​ ​ ​ ​ ​ 30-89 Days ​ Over 90 Days ​ ​ ​ ​ ​ Current ​ Past Due ​ Past Due ​ Total ​ ​ (In Thousands) Construction and land development ​ ​ ​ $ — ​ ​ ​ $ — ​ ​ ​ $ — ​ ​ ​ $ — One- to four-family residential ​ — ​ — ​ — ​ — Other residential (multi-family) ​ — ​ — ​ — ​ — Commercial real estate ​ — ​ — ​ — ​ — Commercial business ​ — ​ — ​ — ​ — Consumer ​ 5 ​ — ​ — ​ 5 ​ ​ $ 5 ​ $ — ​ $ — ​ $ 5 ​ Loan Risk Ratings . The Company utilizes an internal risk rating system comprised of a series of grades to categorize loans according to perceived risk associated with the expectation of debt repayment. The analysis of the borrower’s ability to repay considers specific information, including, but not limited to, current financial information, historical payment experience, industry information and collateral levels and types. A risk rating is assigned at loan origination and then monitored throughout the contractual term for possible risk rating changes. Satisfactory loans range from Excellent to Moderate Risk, but generally are loans supported by strong recent financial statements. The character and capacity of the borrower are solid, including reasonable project performance, good industry experience, liquidity and/or net worth. The probability of financial deterioration seems unlikely. Repayment is expected from approved sources over a reasonable period of time. Watch loans are identified when the borrower has capacity to perform according to terms; however, elements of uncertainty exist. Margins of debt service coverage may be narrow, historical patterns of financial performance may be erratic, collateral margins may be diminished, or the borrower may be a new and/or thinly capitalized company. Some management weakness on the part of the borrower may also exist, the borrower may have somewhat limited access to credit at other financial institutions, and that access may diminish in difficult economic times. Special Mention loans have weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of repayment prospects or the Bank’s credit position at some future date. This is a transitional grade closely monitored for improvement or deterioration. The Substandard rating is applied to loans where the borrower exhibits well-defined weaknesses that jeopardize its continued performance and are of a severity that the distinct possibility of default exists. Loans are placed on “nonaccrual” when management does not expect to collect payments consistent with acceptable and agreed upon terms of repayment. Doubtful loans have all the weaknesses inherent to those classified Substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, highly questionable and improbable. The Loss category is used when loans are considered uncollectable and no longer included as an asset. All loans are analyzed for risk rating updates regularly. For larger loans, rating assessments may be more frequent if relevant information is obtained earlier through debt covenant monitoring or overall relationship management. Smaller loans are monitored as identified by the loan officer based on the risk profile of the individual borrower or if the loan becomes past due related to credit issues. Loans rated Watch, Special Mention, Substandard or Doubtful are subject to formal quarterly review and continuous monitoring processes. In addition to the regular monitoring performed by the lending personnel and credit committees, loans are subject to review by the credit review department, which verifies the appropriateness of the risk ratings for the loans chosen as part of its risk-based review plan. 15 ​ The following tables present a summary of loans by category and risk rating separated by origination year and loan class as of March 31, 2026 and December 31, 2025. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Term Loans by Origination Year ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving ​ ​ March 31, 2026 ​ ​ ​ 2026 YTD ​ ​ ​ 2025 ​ ​ ​ 2024 ​ ​ ​ 2023 ​ ​ ​ 2022 ​ ​ ​ Prior ​ ​ ​ Loans ​ ​ ​ Total ​ ​ (In Thousands) One- to four-family residential construction ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Satisfactory (1-4) ​ $ 853 ​ $ 24,013 ​ $ 3,122 ​ $ 2,996 ​ $ 1,341 ​ $ — ​ $ 6,656 ​ $ 38,981 Watch (5) ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Special Mention (6) ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Classified (7-9) ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total ​ 853 ​ ​ 24,013 ​ ​ 3,122 ​ ​ 2,996 ​ ​ 1,341 ​ ​ — ​ ​ 6,656 ​ ​ 38,981 Current Period Gross Charge Offs ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subdivision construction ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Satisfactory (1-4) ​ 98 ​ ​ 836 ​ ​ 2,242 ​ ​ 274 ​ ​ 255 ​ ​ 16,425 ​ ​ 2,878 ​ ​ 23,008 Watch (5) ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Special Mention (6) ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Classified (7-9) ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total ​ 98 ​ ​ 836 ​ ​ 2,242 ​ ​ 274 ​ ​ 255 ​ ​ 16,425 ​ ​ 2,878 ​ ​ 23,008 Current Period Gross Charge Offs ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction and land development ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Satisfactory (1-4) ​ 1,511 ​ ​ 13,018 ​ ​ 8,976 ​ ​ 6,497 ​ ​ 3,590 ​ ​ 7,103 ​ ​ 2,860 ​ ​ 43,555 Watch (5) ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Special Mention (6) ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Classified (7-9) ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total ​ 1,511 ​ ​ 13,018 ​ ​ 8,976 ​ ​ 6,497 ​ ​ 3,590 ​ ​ 7,103 ​ ​ 2,860 ​ ​ 43,555 Current Period Gross Charge Offs ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other construction ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Satisfactory (1-4) ​ 42,527 ​ ​ 49,167 ​ ​ 191,013 ​ ​ 1,361 ​ ​ 41,612 ​ ​ 922 ​ ​ — ​ ​ 326,602 Watch (5) ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Special Mention (6) ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Classified (7-9) ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total ​ 42,527 ​ ​ 49,167 ​ ​ 191,013 ​ ​ 1,361 ​ ​ 41,612 ​ ​ 922 ​ ​ — ​ ​ 326,602 Current Period Gross Charge Offs ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One- to four-family residential ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Satisfactory (1-4) ​ 33,554 ​ ​ 62,379 ​ ​ 34,841 ​ ​ 44,163 ​ ​ 263,195 ​ ​ 340,919 ​ ​ 1,319 ​ ​ 780,370 Watch (5) ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 711 ​ ​ — ​ ​ 711 Special Mention (6) ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Classified (7-9) ​ — ​ ​ — ​ ​ — ​ ​ 103 ​ ​ 510 ​ ​ 1,033 ​ ​ — ​ ​ 1,646 Total ​ 33,554 ​ ​ 62,379 ​ ​ 34,841 ​ ​ 44,266 ​ ​ 263,705 ​ ​ 342,663 ​ ​ 1,319 ​ ​ 782,727 Current Period Gross Charge Offs ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other residential (multi-family) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Satisfactory (1-4) ​ 12,703 ​ ​ 99,612 ​ ​ 175,264 ​ ​ 109,904 ​ ​ 533,246 ​ ​ 398,637 ​ ​ 3,052 ​ ​ 1,332,418 Watch (5) ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 2,651 ​ ​ — ​ ​ 2,651 Special Mention (6) ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 31,500 ​ ​ — ​ ​ 31,500 Classified (7-9) ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 2,725 ​ ​ — ​ ​ — ​ ​ 2,725 Total ​ 12,703 ​ ​ 99,612 ​ ​ 175,264 ​ ​ 109,904 ​ ​ 535,971 ​ ​ 432,788 ​ ​ 3,052 ​ ​ 1,369,294 Current Period Gross Charge Offs ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial real estate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Satisfactory (1-4) ​ 50,381 ​ ​ 118,170 ​ ​ 162,543 ​ ​ 99,824 ​ ​ 292,834 ​ ​ 800,152 ​ ​ 36,866 ​ ​ 1,560,770 Watch (5) ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 10,145 ​ ​ 2,941 ​ ​ — ​ ​ 13,086 Special Mention (6) ​ 232 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 9,036 ​ ​ — ​ ​ 9,268 Classified (7-9) ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total ​ 50,613 ​ ​ 118,170 ​ ​ 162,543 ​ ​ 99,824 ​ ​ 302,979 ​ ​ 812,129 ​ ​ 36,866 ​ ​ 1,583,124 Current Period Gross Charge Offs ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial business ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Satisfactory (1-4) ​ 5,417 ​ ​ 38,189 ​ ​ 15,465 ​ ​ 8,699 ​ ​ 9,145 ​ ​ 49,949 ​ ​ 50,143 ​ ​ 177,007 Watch (5) ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 764 ​ ​ 2,397 ​ ​ — ​ ​ 3,161 Special Mention (6) ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Classified (7-9) ​ — ​ ​ — ​ ​ — ​ ​ 14 ​ ​ — ​ ​ — ​ ​ — ​ ​ 14 Total ​ 5,417 ​ ​ 38,189 ​ ​ 15,465 ​ ​ 8,713 ​ ​ 9,909 ​ ​ 52,346 ​ ​ 50,143 ​ ​ 180,182 Current Period Gross Charge Offs ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Satisfactory (1-4) ​ 4,509 ​ ​ 13,661 ​ ​ 8,647 ​ ​ 3,810 ​ ​ 1,978 ​ ​ 7,627 ​ ​ 137,751 ​ ​ 177,983 Watch (5) ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 184 ​ ​ 68 ​ ​ 252 Special Mention (6) ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 983 ​ ​ 983 Classified (7-9) ​ — ​ ​ — ​ ​ 10 ​ ​ 16 ​ ​ — ​ ​ 48 ​ ​ 233 ​ ​ 307 Total ​ 4,509 ​ ​ 13,661 ​ ​ 8,657 ​ ​ 3,826 ​ ​ 1,978 ​ ​ 7,859 ​ ​ 139,035 ​ ​ 179,525 Current Period Gross Charge Offs ​ ​ — ​ ​ 11 ​ ​ 12 ​ ​ 8 ​ ​ 7 ​ ​ 239 ​ ​ 32 ​ ​ 309 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Combined ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Satisfactory (1-4) ​ 151,553 ​ ​ 419,045 ​ ​ 602,113 ​ ​ 277,528 ​ ​ 1,147,196 ​ ​ 1,621,734 ​ ​ 241,525 ​ ​ 4,460,694 Watch (5) ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 10,909 ​ ​ 8,884 ​ ​ 68 ​ ​ 19,861 Special Mention (6) ​ 232 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 40,536 ​ ​ 983 ​ ​ 41,751 Classified (7-9) ​ — ​ ​ — ​ ​ 10 ​ ​ 133 ​ ​ 3,235 ​ ​ 1,081 ​ ​ 233 ​ ​ 4,692 Total ​ $ 151,785 ​ $ 419,045 ​ $ 602,123 ​ $ 277,661 ​ $ 1,161,340 ​ $ 1,672,235 ​ $ 242,809 ​ $ 4,526,998 Current Period Gross Charge Offs ​ $ — ​ $ 11 ​ $ 12 ​ $ 8 ​ $ 7 ​ $ 239 ​ $ 32 ​ $ 309 ​ 16 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Term Loans by Origination Year ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving ​ ​ December 31, 2025 ​ ​ ​ 2025 ​ ​ ​ 2024 ​ ​ ​ 2023 ​ ​ ​ 2022 ​ ​ ​ 2021 ​ ​ ​ Prior ​ ​ ​ Loans ​ ​ ​ Total ​ ​ (In Thousands) One- to four-family residential construction ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Satisfactory (1-4) ​ $ 18,452 ​ $ 4,606 ​ $ 2,611 ​ $ 1,242 ​ $ — ​ $ — ​ $ 3,347 ​ $ 30,258 Watch (5) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Special Mention (6) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Classified (7-9) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total ​ ​ 18,452 ​ ​ 4,606 ​ ​ 2,611 ​ ​ 1,242 ​ ​ — ​ ​ — ​ ​ 3,347 ​ ​ 30,258 Current Period Gross Charge Offs ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subdivision construction ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Satisfactory (1-4) ​ ​ 924 ​ ​ 2,745 ​ ​ 278 ​ ​ 260 ​ ​ 16,146 ​ ​ 428 ​ ​ 11,379 ​ ​ 32,160 Watch (5) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Special Mention (6) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Classified (7-9) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total ​ ​ 924 ​ ​ 2,745 ​ ​ 278 ​ ​ 260 ​ ​ 16,146 ​ ​ 428 ​ ​ 11,379 ​ ​ 32,160 Current Period Gross Charge Offs ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction and land development ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Satisfactory (1-4) ​ ​ 11,147 ​ ​ 9,046 ​ ​ 6,573 ​ ​ 1,097 ​ ​ 368 ​ ​ 6,413 ​ ​ 2,875 ​ ​ 37,519 Watch (5) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Special Mention (6) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Classified (7-9) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total ​ ​ 11,147 ​ ​ 9,046 ​ ​ 6,573 ​ ​ 1,097 ​ ​ 368 ​ ​ 6,413 ​ ​ 2,875 ​ ​ 37,519 Current Period Gross Charge Offs ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other construction ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Satisfactory (1-4) ​ ​ 35,846 ​ ​ 166,912 ​ ​ 7,448 ​ ​ 38,049 ​ ​ 969 ​ ​ — ​ ​ — ​ ​ 249,224 Watch (5) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Special Mention (6) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Classified (7-9) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total ​ 35,846 ​ ​ 166,912 ​ ​ 7,448 ​ ​ 38,049 ​ ​ 969 ​ ​ — ​ ​ — ​ ​ 249,224 Current Period Gross Charge Offs ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One- to four-family residential ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Satisfactory (1-4) ​ ​ 65,388 ​ ​ 39,406 ​ ​ 49,967 ​ ​ 267,992 ​ ​ 153,547 ​ ​ 200,389 ​ ​ 1,340 ​ ​ 778,029 Watch (5) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 724 ​ ​ — ​ ​ 724 Special Mention (6) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Classified (7-9) ​ ​ — ​ ​ 28 ​ ​ 71 ​ ​ 507 ​ ​ 268 ​ ​ 1,756 ​ ​ 614 ​ ​ 3,244 Total ​ ​ 65,388 ​ ​ 39,434 ​ ​ 50,038 ​ ​ 268,499 ​ ​ 153,815 ​ ​ 202,869 ​ ​ 1,954 ​ ​ 781,997 Current Period Gross Charge Offs ​ ​ — ​ ​ — ​ ​ — ​ ​ 21 ​ ​ 16 ​ ​ 9 ​ ​ — ​ ​ 46 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other residential (multi-family) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Satisfactory (1-4) ​ ​ 99,386 ​ ​ 153,763 ​ ​ 113,657 ​ ​ 541,044 ​ ​ 266,906 ​ ​ 182,230 ​ ​ 2,999 ​ ​ 1,359,985 Watch (5) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 2,663 ​ ​ — ​ ​ 2,663 Special Mention (6) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 24,762 ​ ​ — ​ ​ — ​ ​ 24,762 Classified (7-9) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total ​ 99,386 ​ ​ 153,763 ​ ​ 113,657 ​ ​ 541,044 ​ ​ 291,668 ​ ​ 184,893 ​ ​ 2,999 ​ ​ 1,387,410 Current Period Gross Charge Offs ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial real estate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Satisfactory (1-4) ​ ​ 122,684 ​ ​ 142,179 ​ ​ 93,260 ​ ​ 305,833 ​ ​ 194,448 ​ ​ 640,276 ​ ​ 34,936 ​ ​ 1,533,616 Watch (5) ​ ​ — ​ ​ — ​ ​ — ​ ​ 10,548 ​ ​ — ​ ​ 2,964 ​ ​ — ​ ​ 13,512 Special Mention (6) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 9,020 ​ ​ — ​ ​ 9,020 Classified (7-9) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total ​ ​ 122,684 ​ ​ 142,179 ​ ​ 93,260 ​ ​ 316,381 ​ ​ 194,448 ​ ​ 652,260 ​ ​ 34,936 ​ ​ 1,556,148 Current Period Gross Charge Offs ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 8 ​ ​ — ​ ​ — ​ ​ 8 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial business ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Satisfactory (1-4) ​ ​ 31,698 ​ ​ 22,010 ​ ​ 9,959 ​ ​ 13,490 ​ ​ 15,629 ​ ​ 38,256 ​ ​ 44,170 ​ ​ 175,212 Watch (5) ​ ​ — ​ ​ — ​ ​ — ​ ​ 805 ​ ​ 2,473 ​ ​ 24 ​ ​ — ​ ​ 3,302 Special Mention (6) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Classified (7-9) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total ​ ​ 31,698 ​ ​ 22,010 ​ ​ 9,959 ​ ​ 14,295 ​ ​ 18,102 ​ ​ 38,280 ​ ​ 44,170 ​ ​ 178,514 Current Period Gross Charge Offs ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 135 ​ ​ 44 ​ ​ 179 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Satisfactory (1-4) ​ ​ 15,703 ​ ​ 9,937 ​ ​ 4,651 ​ ​ 2,530 ​ ​ 1,015 ​ ​ 7,509 ​ ​ 131,623 ​ ​ 172,968 Watch (5) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 188 ​ ​ 70 ​ ​ 258 Special Mention (6) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 983 ​ ​ 983 Classified (7-9) ​ ​ — ​ ​ 10 ​ ​ 15 ​ ​ 2 ​ ​ 11 ​ ​ 43 ​ ​ 158 ​ ​ 239 Total ​ ​ 15,703 ​ ​ 9,947 ​ ​ 4,666 ​ ​ 2,532 ​ ​ 1,026 ​ ​ 7,740 ​ ​ 132,834 ​ ​ 174,448 Current Period Gross Charge Offs ​ ​ 58 ​ ​ 63 ​ ​ 33 ​ ​ 23 ​ ​ 2 ​ ​ 888 ​ ​ 6 ​ ​ 1,073 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Combined ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Satisfactory (1-4) ​ ​ 401,228 ​ ​ 550,604 ​ ​ 288,404 ​ ​ 1,171,537 ​ ​ 649,028 ​ ​ 1,075,501 ​ ​ 232,669 ​ ​ 4,368,971 Watch (5) ​ — ​ ​ — ​ ​ — ​ ​ 11,353 ​ ​ 2,473 ​ ​ 6,563 ​ ​ 70 ​ ​ 20,459 Special Mention (6) ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 24,762 ​ ​ 9,020 ​ ​ 983 ​ ​ 34,765 Classified (7-9) ​ — ​ ​ 38 ​ ​ 86 ​ ​ 509 ​ ​ 279 ​ ​ 1,799 ​ ​ 772 ​ ​ 3,483 Total ​ $ 401,228 ​ $ 550,642 ​ $ 288,490 ​ $ 1,183,399 ​ $ 676,542 ​ $ 1,092,883 ​ $ 234,494 ​ $ 4,427,678 Current Period Gross Charge Offs ​ $ 58 ​ $ 63 ​ $ 33 ​ $ 44 ​ $ 26 ​ $ 1,032 ​ $ 50 ​ $ 1,306 ​ ​ ​ 17 ​ NOTE 7: INVESTMENTS IN LIMITED PARTNERSHIPS Investments in Affordable Housing Partnerships Periodically, the Company has invested in limited partnerships that were formed to develop and operate apartments and single-family houses designed as high-quality affordable housing for lower income tenants throughout Missouri and contiguous states (“Affordable Housing Partnerships”). At March 31, 2026, the Company had 21 such investments, with a net carrying value of $ 92.8 million. At December 31, 2025, the Company had 21 such investments, with a net carrying value of $ 96.9 million. Due to the Company’s inability to exercise significant influence over any of the investments in Affordable Housing Partnerships, they all are accounted for using the proportional amortization method. Each of the partnerships must meet the regulatory requirements for affordable housing for a minimum 15-year compliance period to fully utilize the tax credits. If the partnerships cease to qualify during the compliance period, the credits may be denied for any period in which the projects are not in compliance and a portion of the credits previously taken may be subject to recapture with interest. The remaining federal affordable housing tax credits to be utilized through 2036 were $ 98.7 million as of March 31, 2026, assuming no tax credit recapture events occur and all projects currently under construction are completed as planned. Amortization of the investments in partnerships is expected to be approximately $ 88.4 million, assuming all projects currently under construction are completed and funded as planned. The Company’s usage of federal affordable housing tax credits approximated $ 3.6 million and $ 3.2 million during the three months ended March 31, 2026 and 2025, respectively. Investment amortization was $ 3.3 million for the three months ended March 31, 2026, compared to $ 2.9 million for the three months ended March 31, 2025. Investments in Community Development Entities From time to time, the Company has invested in limited partnerships that were formed to develop and operate business and real estate projects located in low-income communities. At March 31, 2026, the Company had one such investment, with a net carrying value of $ 74,000 . At December 31, 2025, the Company had one such investment, with a net carrying value of $ 99,000 . Due to the Company’s inability to exercise significant influence over any of the investments in qualified community development entities, they are accounted for using the proportional amortization method. Each of the partnerships provides federal new market tax credits over a seven-year credit allowance period. In each of the first three years, credits totaling five percent of the original investment are allowed on the credit allowance dates, and for the final four years, credits totaling six percent of the original investment are allowed on the credit allowance dates. Each of the partnerships must be invested in a qualified community development entity on each of the credit allowance dates during the seven-year period to utilize the tax credits. If the community development entities cease to qualify during the seven-year period, the credits may be denied for any credit allowance date and a portion of the credits previously taken may be subject to recapture with interest. The investments in the community development entities cannot be redeemed before the end of the seven-year period. The Company’s usage of federal new market tax credits approximated $ 30,000 during both the three months ended March 31, 2026 and the three months ended March 31, 2025. Investment amortization amounted to $ 25,000 for both the three months ended March 31, 2026 and the three months ended March 31, 2025. Investments in Limited Partnerships for Federal Rehabilitation/Historic Tax Credits From time to time, the Company has invested in limited partnerships that were formed to provide certain federal rehabilitation/historic tax credits. At March 31, 2026 and December 31, 2025, the Company had no such investments, with the most recent investment fully amortizing during 2024. Under current tax law, such partnerships provide federal rehabilitation/historic tax credits over a five-year credit allowance period. The Company’s usage of certain federal rehabilitation/historic tax credits approximated $ 75,000 during both the three months ended March 31, 2026 and 2025. Investment amortization amounted to $- 0 - for the three months ended March 31, 2026 and 2025. Investments in Limited Partnerships for State Tax Credits On occasion, the Company has invested in limited partnerships that were formed to provide certain state tax credits. The Company has primarily syndicated these tax credits and the impact to the Consolidated Statements of Income has not been material. ​ ​ 18 ​ NOTE 8: OTHER REAL ESTATE OWNED AND REPOSSESSIONS Major classifications of other real estate owned were as follows at the dates indicated: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ ​ ​ December 31, ​ ​ 2026 ​ 2025 ​ ​ (In Thousands) Foreclosed assets held for sale and repossessions ​ ​ ​ ​ One- to four-family construction ​ $ — ​ $ — Subdivision construction ​ — ​ — Land development ​ — ​ — Commercial construction ​ — ​ — One- to four-family residential ​ 643 ​ — Other residential (multi-family) ​ — ​ — Commercial real estate ​ 5,960 ​ 6,025 Commercial business ​ — ​ — Consumer ​ 12 ​ 11 Foreclosed assets held for sale and repossessions ​ 6,615 ​ 6,036 ​ ​ ​ ​ ​ ​ ​ Other real estate owned not acquired through foreclosure ​ — ​ — ​ ​ ​ ​ ​ ​ ​ Other real estate owned and repossessions ​ $ 6,615 ​ $ 6,036 ​ At March 31, 2026 and December 31, 2025, there was no other real estate owned not acquired through foreclosure. At March 31, 2026, residential mortgage loans totaling $ 77,000 were in the process of foreclosure. At December 31, 2025, no residential mortgage loans were in the process of foreclosure. Expenses (income) applicable to other real estate owned and repossessions included the following during the periods shown: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, ​ ​ ​ ​ 2026 ​ ​ ​ 2025 ​ ​ (In Thousands) Net loss on sales of other real estate owned and repossessions ​ $ 1 ​ $ 5 Valuation write-downs ​ 4 ​ ​ — Operating expenses (income), net of rental income ​ 49 ​ ​ ( 75 ) ​ ​ $ 54 ​ $ ( 70 ) ​ ​ NOTE 9: PREMISES AND EQUIPMENT Major classifications of premises and equipment, stated at cost, were as follows at the dates indicated: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ ​ ​ 2026 ​ ​ ​ 2025 ​ ​ (In Thousands) Land ​ $ 40,239 ​ $ 40,250 Buildings and improvements ​ 110,796 ​ 110,536 Furniture, fixtures and equipment ​ 71,881 ​ 72,121 Operating leases right of use asset ​ 3,878 ​ 4,161 ​ ​ 226,794 ​ 227,068 Less: accumulated depreciation ​ 94,681 ​ 93,811 ​ $ 132,113 ​ $ 133,257 ​ 19 ​ Leases. The Company records leases in accordance with ASU 2016-02, Leases (Topic 842). The amount of the right of use asset and corresponding lease liability will fluctuate based on the Company’s lease terminations, new leases and lease modifications and renewals. As of March 31, 2026, the lease right of use asset value was $ 3.9 million and the corresponding lease liability was $ 4.0 million. As of December 31, 2025, the lease right of use asset value was $ 4.2 million and the corresponding lease liability was $ 4.2 million. At March 31, 2026, expected lease terms ranged from 0.7 years to 9.1 years with a weighted-average lease term of 4.8 years. The weighted-average discount rate at March 31, 2026 was 4.18 %. For the three months ended March 31, 2026 and 2025, total lease expense was $ 429,000 and $ 419,000 , respectively. The Company’s short-term leases related to offsite ATMs have both fixed and variable lease payment components, based on the number of transactions at the various ATMs. The variable portion of these lease payments is not material and the lease expense related to ATMs for the three months ended March 31, 2026 and 2025 was $ 91,000 and $ 76,000 , respectively. The Company does not sublease any of its leased facilities; however, it does lease portions of facilities that it owns to other parties. In terms of being the lessor in these circumstances, all of these lease agreements are classified as operating leases. In the three months ended March 31, 2026 and 2025, income recognized from these lease agreements was $ 381,000 and $ 321,000 , respectively, and was included in occupancy and equipment expense. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2026 ​ ​ ​ December 31, 2025 ​ ​ (In Thousands) Statement of Financial Condition ​ ​ ​ ​ ​ ​ Operating leases right of use asset ​ $ 3,878 ​ $ 4,161 Operating leases liability ​ $ 3,961 ​ $ 4,236 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended ​ ​ March 31, 2026 ​ ​ ​ March 31, 2025 ​ ​ (In Thousands) Statement of Income ​ ​ ​ ​ ​ ​ Operating lease costs classified as occupancy and equipment expense (includes short-term lease costs and amortization of right of use asset) ​ $ 429 ​ $ 419 ​ ​ ​ ​ ​ ​ ​ Supplemental Cash Flow Information ​ ​ ​ ​ ​ ​ Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ ​ ​ ​ Operating cash flows from operating leases ​ $ 422 ​ $ 416 Right of use assets obtained in exchange for lease obligations: ​ ​ ​ ​ ​ ​ Operating leases ​ $ — ​ $ — ​ At March 31, 2026, future expected lease payments for leases with terms exceeding one year were as follows (in thousands): ​ ​ ​ ​ ​ 2026 ​ ​ ​ $ 963 2027 ​ 1,124 2028 ​ 881 2029 ​ 411 2030 ​ 257 2031 ​ ​ 264 Thereafter ​ 504 ​ ​ ​ ​ Future lease payments expected ​ 4,404 ​ ​ ​ ​ Less: interest portion of lease payments ​ ( 443 ) ​ ​ ​ ​ Lease liability ​ $ 3,961 ​ ​ 20 ​ NOTE 10: DEPOSITS ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ March 31, ​ December 31, ​ ​ ​ ​ Interest Rate ​ ​ ​ 2026 ​ ​ ​ 2025 ​ ​ ​ ​ (In Thousands, Except Interest Rates) ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-interest-bearing accounts ​ — ​ $ 857,357 ​ $ 841,515 Interest-bearing checking and savings accounts ​ 1.20 % and 1.20 % ​ ​ 2,264,414 ​ ​ 2,289,393 ​ ​ ​ ​ 3,121,771 ​ ​ 3,130,908 ​ ​ ​ ​ ​ ​ ​ ​ Certificate accounts ​ 0.00 % - 0.99 % ​ 28,567 ​ ​ 31,380 ​ ​ 1.00 % - 1.99 % ​ ​ 87,154 ​ ​ 94,864 ​ ​ 2.00 % - 2.99 % ​ ​ 32,283 ​ ​ 22,720 ​ ​ 3.00 % - 3.99 % ​ 522,622 ​ ​ 537,043 ​ ​ 4.00 % - 4.99 % ​ 795 ​ ​ 2,432 ​ ​ 5.00 % and above ​ ​ — ​ ​ — ​ ​ 2.97 % and 3.13 % ​ ​ 671,421 ​ ​ 688,439 ​ ​ ​ ​ ​ ​ ​ ​ ​ Brokered deposits ​ 3.80 % and 3.80 % ​ ​ 651,969 ​ ​ 663,427 ​ ​ ​ ​ ​ 651,969 ​ ​ 663,427 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 4,445,161 ​ $ 4,482,774 ​ The Bank utilizes brokered deposits as an additional funding source. The aggregate amount of brokered deposits was approximately $ 652.0 million and $ 663.4 million at March 31, 2026 and December 31, 2025, respectively. At March 31, 2026 and December 31, 2025, brokered deposits included $ 300.0 million and $ 450.0 million, respectively, of purchased funds through the IntraFi Financial network. These IntraFi Financial deposits have a rate of interest that floats daily with an index of effective federal funds rate plus a spread. At March 31, 2026, approximately 39 % of the Company’s total deposits were uninsured, including deposit accounts of consolidated subsidiaries of the Company and collateralized deposits of unaffiliated entities. Excluding deposit accounts of the Company’s consolidated subsidiaries, approximately 17 % of the Company’s total deposits were uninsured at March 31, 2026. ​ NOTE 11: ADVANCES FROM FEDERAL HOME LOAN BANK At March 31, 2026 and December 31, 2025, there were no outstanding term advances from the Federal Home Loan Bank of Des Moines. At March 31, 2026 and December 31, 2025, the Company did have outstanding overnight borrowings from the Federal Home Loan Bank of Des Moines, which are included in Note 12 below. The Bank has pledged FHLB stock, investment securities and first mortgage loans free of other pledges, liens and encumbrances as collateral for outstanding advances or borrowings. At March 31, 2026, investment securities with carrying values of approximately $ 284.8 million and loans with carrying values of approximately $ 2.17 billion were pledged as collateral for FHLB borrowings, which equates to an advance equivalent of $ 1.71 billion. At December 31, 2025 investment securities with carrying values of approximately $ 287.7 million and loans with carrying values of approximately $ 2.06 billion were pledged as collateral for outstanding advances or borrowings, which equates to an advance equivalent of $ 1.71 billion. The Bank had $ 1.24 billion remaining available on its line of credit under a borrowing arrangement with the FHLB of Des Moines at March 31, 2026. NOTE 12: SHORT-TERM BORROWINGS ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ ​ ​ December 31, ​ ​ 2026 ​ 2025 ​ ​ (In Thousands) ​ ​ ​ ​ ​ ​ ​ Notes payable – Community Development Equity Funds ​ ​ ​ $ 660 ​ ​ ​ $ 928 Securities sold under reverse repurchase agreements ​ 37,198 ​ 48,467 Overnight borrowings from the Federal Home Loan Bank ​ ​ 470,000 ​ ​ 330,000 ​ ​ $ 507,858 ​ $ 379,395 ​ 21 ​ The Bank enters into sales of securities under agreements to repurchase (reverse repurchase agreements). Reverse repurchase agreements are treated as financings, and the obligations to repurchase securities sold are reflected as a liability in the statements of financial condition. The dollar amount of securities underlying the agreements remains in the asset accounts. The underlying securities sold in the agreements are held by the Bank during the agreement period. All agreements are written on a term of one month or less. The following table represents the Company’s securities sold under reverse repurchase agreements, by collateral type. These securities contractually mature daily. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ ​ ​ December 31, ​ ​ 2026 ​ 2025 ​ ​ (In Thousands) Mortgage-backed securities – GNMA, FNMA, FHLMC ​ $ 37,198 ​ $ 48,467 ​ ​ NOTE 13: SUBORDINATED NOTES On June 10, 2020, the Company completed the public offering and sale of $ 75.0 million of its subordinated notes. The notes were due June 15, 2030, and had a fixed interest rate of 5.50 % until June 15, 2025, at which time the rate was to begin floating at a rate expected to be equal to three-month term Secured Overnight Financing Rate ( SOFR ) plus 5.325 %. The notes were sold at par, resulting in net proceeds, after underwriting discounts and commissions, legal, accounting and other professional fees, of approximately $ 73.5 million. Total debt issuance costs of approximately $ 1.5 million were deferred and amortized over the expected life of the notes, which was five years . On June 15, 2025, in accordance with the terms of the notes, the Company redeemed all $ 75.0 million aggregate principal amount of the subordinated notes at a redemption price equal to 100 % of their principal amount, plus accrued and unpaid interest. Amortization of the debt issuance costs during the three months ended March 31, 2025, totaled $ 74,000 . ​ ​ NOTE 14: INCOME TAXES On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was enacted in the U.S. The OBBBA includes significant provisions, such as the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act, modifications to the international tax framework and the restoration of favorable tax treatment for certain business provisions. The legislation has multiple effective dates, with certain provisions that became effective in 2025 and others that will be implemented through 2027. Provisions effective in 2025 did not have a significant impact on the Company’s operations or financial statements. We continue to assess the expected impact of the OBBBA on our consolidated financial statements in future periods. All income for the Company is from continuing operations and is from a single country, the United States of America. During the three months ended March 31, 2026 and 2025, the components of income tax expense were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ Three Months Ended ​ ​ March 31, 2026 ​ March 31, 2025 ​ ​ (In Thousands) Current federal income tax expense ​ $ 4,404 ​ $ 3,731 Current state income tax expense ​ 574 ​ 720 Deferred income tax expense ​ ( 958 ) ​ ( 161 ) ​ ​ ​ ​ ​ ​ ​ Income tax expense ​ $ 4,020 ​ $ 4,290 ​ 22 ​ Reconciliations of the Company’s effective tax rates to the statutory corporate tax rates were as follows for the periods indicated: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Three Months Ended ​ ​ March 31, 2026 ​ March 31, 2025 ​ ​ ​ ​ (Dollars In Thousands) ​ ​ ​ (Dollars In Thousands) ​ Tax at statutory rate $ 4,514 ​ 21.0 % $ 4,505 ​ 21.0 % Nontaxable interest and dividends ​ ( 52 ) ​ ( 0.2 ) ​ ​ ( 96 ) ​ ( 0.4 ) ​ U.S. federal tax credits, net (primarily low-income housing) ​ ( 989 ) ​ ( 4.6 ) ​ ​ ( 859 ) ​ ( 4.0 ) ​ State income/franchise taxes, net of federal benefit ​ 486 ​ 2.3 ​ ​ 625 ​ 2.9 ​ Other ​ 61 ​ 0.2 ​ ​ 115 ​ 0.5 ​ ​ $ 4,020 ​ 18.7 % $ 4,290 ​ 20.0 % ​ The Company and its consolidated subsidiaries have not been audited recently by the Internal Revenue Service (IRS). As a result, federal tax years through December 31, 2021 are now closed. In addition, there were no pending audits by any state jurisdiction at March 31, 2026. ​ During the three months ended March 31, 2026, the Company paid no U.S. federal income taxes and paid taxes to various state jurisdictions totaling $ 41,000 . There were no payments to any individual state jurisdiction exceeding five percent of taxable income. In addition, the Company received a refund of $ 642,000 from one state jurisdiction and federal income tax refunds totaling $ 977,000 . During the three months ended March 31, 2025, the Company paid no U.S. federal income taxes and paid taxes to various state jurisdictions totaling $ 35,000 . There were no payments to any individual state jurisdiction exceeding five percent of taxable income. In addition, the Company received a refund of $ 19,000 from one state jurisdiction and federal income tax refunds totaling $ 49,000 . Tax payments made to individual state jurisdictions representing five percent or more of total income taxes paid (net of refunds) in the three months ended March 31, 2026 and 2025, respectively, included: for 2026, Georgia $ 34,000 and Nebraska $ 7,000 ; for 2025, Georgia $ 27,000 and Nebraska $ 8,000 . ​ During the three months ended March 31, 2026 and 2025, the state and local jurisdictions that contributed a majority (totaling greater than 50%) of the effect of the state and local income tax expense included Minnesota, Colorado, and Illinois. ​ NOTE 15: DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS ASC Topic 820, Fair Value Measurements , defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Topic 820 also specifies a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: ● Quoted prices in active markets for identical assets or liabilities (Level 1): Inputs that are quoted unadjusted prices in active markets for identical assets that the Company has the ability to access at the measurement date. An active market for the asset is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. ● Other observable inputs (Level 2): Inputs that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the reporting entity including quoted prices for similar assets, quoted prices for securities in inactive markets and inputs derived principally from or corroborated by observable market data by correlation or other means. ● Significant unobservable inputs (Level 3): Inputs that reflect assumptions of a source independent of the reporting entity or the reporting entity’s own assumptions that are supported by little or no market activity or observable inputs. Financial instruments are broken down by recurring or nonrecurring measurement status. Recurring assets are initially measured at fair value and are required to be remeasured at fair value in the financial statements at each reporting date. Assets measured on a nonrecurring basis are assets that, due to an event or circumstance, were required to be remeasured at fair value after initial recognition in the financial statements at some time during the reporting period. The Company considers transfers between the levels of the hierarchy to be recognized at the end of related reporting periods. 23 ​ Recurring Measurements The following table presents the fair value measurements of assets recognized in the accompanying statements of financial condition measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fell at March 31, 2026 and December 31, 2025: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value measurements using ​ ​ ​ ​ ​ Quoted prices ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ in active ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ markets ​ Other ​ Significant ​ ​ ​ ​ ​ for identical ​ observable ​ unobservable ​ ​ ​ ​ ​ assets ​ inputs ​ inputs ​ ​ ​ ​ Fair value ​ ​ ​ (Level 1) ​ ​ ​ (Level 2) ​ ​ ​ (Level 3) ​ ​ (In Thousands) March 31, 2026 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Available-for-sale securities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agency mortgage-backed securities ​ $ 294,757 ​ $ — ​ $ 294,757 ​ $ — Agency collateralized mortgage obligations ​ 113,859 ​ ​ — ​ ​ 113,859 ​ ​ — States and political subdivisions securities ​ 50,814 ​ ​ — ​ ​ 50,814 ​ ​ — Small Business Administration securities ​ 54,416 ​ ​ — ​ ​ 54,416 ​ ​ — Interest rate derivative asset ​ 5,461 ​ ​ — ​ ​ 5,461 ​ ​ — Interest rate derivative liability ​ ( 12,880 ) ​ ​ — ​ ​ ( 12,880 ) ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2025 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Available-for-sale securities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agency mortgage-backed securities ​ $ 301,249 ​ $ — ​ $ 301,249 ​ $ — Agency collateralized mortgage obligations ​ 115,333 ​ ​ — ​ ​ 115,333 ​ ​ — States and political subdivisions securities ​ 51,398 ​ ​ — ​ ​ 51,398 ​ ​ — Small Business Administration securities ​ 55,851 ​ ​ — ​ ​ 55,851 ​ ​ — Interest rate derivative asset ​ 5,663 ​ ​ — ​ ​ 5,663 ​ ​ — Interest rate derivative liability ​ ( 11,236 ) ​ ​ — ​ ​ ( 11,236 ) ​ ​ — ​ The following is a description of inputs and valuation methodologies used for assets recorded at fair value on a recurring basis and recognized in the accompanying statements of financial condition at March 31, 2026 and December 31, 2025 as well as the general classification of such assets pursuant to the valuation hierarchy. There were no significant changes in the valuation techniques during the three-month period ended March 31, 2026. Available-for-Sale Securities. Investment securities available-for-sale are recorded at fair value on a recurring basis. The fair values used by the Company are obtained from an independent pricing service, which represent either quoted market prices for the identical asset or fair values determined by pricing models, or other model-based valuation techniques, that consider observable market data, such as interest rate volatilities, SOFR yield curve, credit spreads and prices from market makers and live trading systems. Recurring Level 2 securities include U.S. government agency securities, mortgage-backed securities, state and municipal bonds and certain other investments. Inputs used for valuing Level 2 securities include observable data that may include dealer quotes, benchmark yields, market spreads, live trading levels and market consensus prepayment speeds, among other things. Additional inputs include indicative values derived from the independent pricing service’s proprietary computerized models. There were no recurring Level 3 securities at March 31, 2026 or December 31, 2025. Interest Rate Derivatives. The fair values are estimated using forward-looking interest rate curves and are determined using observable market rates and, therefore, are classified within Level 2 of the valuation hierarchy. 24 ​ Nonrecurring Measurements The following tables present the fair value measurements of assets measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the measurements fell at March 31, 2026 and December 31, 2025: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements Using ​ ​ ​ ​ ​ Quoted prices ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ in active ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ markets ​ Other ​ Significant ​ ​ ​ ​ ​ for identical ​ observable ​ unobservable ​ ​ ​ ​ ​ assets ​ inputs ​ inputs ​ ​ ​ ​ Fair value ​ ​ ​ (Level 1) ​ ​ ​ (Level 2) ​ ​ ​ (Level 3) ​ ​ (In Thousands) March 31, 2026 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Collateral-dependent loans ​ $ — ​ $ — ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreclosed assets held for sale ​ $ — ​ $ — ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2025 ​ ​ ​ ​ ​ ​ ​ ​ Collateral-dependent loans ​ $ — ​ $ — ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreclosed assets held for sale ​ $ 65 ​ $ — ​ $ — ​ $ 65 ​ The following is a description of valuation methodologies used for assets measured at fair value on a nonrecurring basis and recognized in the accompanying statements of financial condition, as well as the general classification of such assets pursuant to the valuation hierarchy. For assets classified within Level 3 of the fair value hierarchy, the process used to develop the reported fair value is described below. Loans Held for Sale. Mortgage loans held for sale are recorded at the lower of carrying value or fair value. The fair value of mortgage loans held for sale is based on what secondary markets are currently offering for portfolios with similar characteristics. As such, the Company classifies mortgage loans held for sale as Nonrecurring Level 2. Write-downs to fair value typically do not occur as the Company generally enters into commitments to sell individual mortgage loans at the time the loan is originated to reduce market risk. The Company typically does not have commercial loans held for sale. At March 31, 2026 and December 31, 2025, the aggregate fair value of mortgage loans held for sale was not materially different than their cost. Accordingly, no mortgage loans held for sale were marked down and reported at fair value. Collateral-Dependent Loans . The Company records collateral-dependent loans as Nonrecurring Level 3. If a loan’s fair value as estimated by the Company is less than its carrying value, the Company either records a charge-off of the portion of the loan that exceeds the fair value or establishes a reserve within the allowance for credit losses specific to the loan. Loans for which such charge-offs or reserves were recorded during the three months ended March 31, 2026 and the year ended December 31, 2025, are shown in the table above (net of reserves). Foreclosed Assets Held for Sale. Foreclosed assets held for sale are initially recorded at fair value less estimated cost to sell at the date of foreclosure. Subsequent to foreclosure, valuations are periodically performed by management and the assets are carried at the lower of carrying amount or fair value less estimated cost to sell. Foreclosed assets held for sale are classified within Level 3 of the fair value hierarchy. There were no foreclosed assets held for sale at March 31, 2026 which had valuation write-downs subsequent to the initial recording of the assets. Fair Value of Financial Instruments The following methods were used to estimate the fair value of all other financial instruments recognized in the accompanying statements of financial condition at amounts other than fair value. Cash and Cash Equivalents and Federal Home Loan Bank Stock. The carrying amount approximates fair value. Held-to-Maturity Securities. Fair values for held-to-maturity securities are estimated based on quoted market prices of similar securities. For these securities, the Company obtains fair value measurements from an independent pricing service, which represent either quoted market prices for the identical asset or fair values determined by pricing models, or other model-based valuation techniques, that consider observable market data, such as interest rate volatilities, SOFR yield curve, credit spreads and prices from 25 ​ market makers and live trading systems. These securities include U.S. government agency securities, mortgage-backed securities, state and municipal bonds and certain other investments. Loans and Interest Receivable. The fair value of loans is estimated on an exit price basis incorporating contractual cash flows, prepayment discount spreads, credit loss and liquidity premiums. Loans with similar characteristics are aggregated for purposes of the calculations. The carrying amount of accrued interest receivable approximates its fair value. Deposits and Accrued Interest Payable. The fair value of demand deposits and savings accounts is the amount payable on demand at the reporting date, i.e., their carrying amounts. The fair value of fixed maturity certificates of deposit is estimated based on a discounted cash flow calculation using the average advances yield curve from 11 districts of the FHLB for the as of date. The carrying amount of accrued interest payable approximates its fair value. Short-Term Borrowings. The carrying amount approximates fair value. Subordinated Debentures Issued to Capital Trusts. The subordinated debentures have floating rates that reset quarterly. The carrying amount of these debentures approximates their fair value. Commitments to Originate Loans, Letters of Credit and Lines of Credit. The fair value of commitments is estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present creditworthiness of the counterparties. For fixed rate loan commitments, fair value also considers the difference between current levels of interest rates and the committed rates. The fair value of letters of credit is based on fees currently charged for similar agreements or on the estimated cost to terminate them or otherwise settle the obligations with the counterparties at the reporting date. The following table presents estimated fair values of the Company’s financial instruments not recorded at fair value in the financial statements. The fair values of certain of these instruments were calculated by discounting expected cash flows, which involves significant judgments by management and uncertainties. Fair value is the estimated amount at which financial assets or liabilities could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. Because no market exists for certain of these financial instruments and because management does not intend to sell these financial instruments, the Company does not know whether the fair values shown below represent values at which the respective financial instruments could be sold individually or in the aggregate. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2026 ​ ​ ​ December 31, 2025 ​ ​ Carrying ​ Fair ​ Hierarchy ​ Carrying ​ Fair ​ Hierarchy ​ ​ ​ ​ Amount ​ ​ ​ Value ​ ​ ​ Level ​ ​ ​ Amount ​ ​ ​ Value ​ ​ ​ Level ​ ​ (In Thousands) Financial assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 187,404 ​ $ 187,404 1 ​ $ 189,554 ​ $ 189,554 1 Held-to-maturity securities ​ ​ 177,594 ​ ​ 160,520 ​ 2 ​ ​ 179,200 ​ ​ 162,629 ​ 2 Mortgage loans held for sale ​ 6,823 ​ ​ 6,823 2 ​ 6,838 ​ 6,838 2 Loans, net of allowance for credit losses ​ 4,456,639 ​ ​ 4,374,501 3 ​ 4,356,853 ​ 4,261,757 3 Interest receivable ​ 19,716 ​ ​ 19,716 3 ​ 18,068 ​ 18,068 3 Investment in FHLBank stock and other assets ​ 27,720 ​ ​ 27,720 3 ​ 20,079 ​ 20,079 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits ​ 4,445,161 ​ ​ 4,442,627 3 ​ 4,482,774 ​ 4,480,770 3 Short-term borrowings ​ 507,858 ​ ​ 507,858 3 ​ 379,395 ​ 379,395 3 Subordinated debentures ​ 25,774 ​ ​ 25,774 3 ​ 25,774 ​ 25,774 3 Interest payable ​ 3,250 ​ ​ 3,250 3 ​ 3,612 ​ 3,612 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrecognized financial instruments (net of contractual value) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commitments to originate loans ​ — ​ ​ — 3 ​ — ​ — 3 Letters of credit ​ 68 ​ ​ 68 3 ​ 53 ​ 53 3 Lines of credit ​ — ​ ​ — 3 ​ — ​ — 3 ​ ​ ​ ​ 26 ​ NOTE 16: DERIVATIVES AND HEDGING ACTIVITIES Risk Management Objective of Using Derivatives The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity and credit risk, primarily by managing the amount, sources and duration of its assets and liabilities. In the normal course of business, the Company may use derivative financial instruments (primarily interest rate swaps) from time to time to assist in its interest rate risk management. The Company has interest rate derivatives that result from a service provided to certain qualifying loan customers that are not used to manage interest rate risk in the Company’s assets or liabilities and are not designated in a qualifying hedging relationship. The Company manages a matched book with respect to its derivative instruments in order to minimize its net risk exposure resulting from such transactions. In addition, the Company has interest rate derivatives that have been designated in a qualified hedging relationship. Nondesignated Hedges The Company has interest rate swaps that are not designated in a qualifying hedging relationship. Derivatives not designated as hedges are not speculative and result from a service the Company provides to certain loan customers. The Company executes interest rate swaps with commercial banking customers to facilitate their respective risk management strategies. Those interest rate swaps are simultaneously hedged by offsetting interest rate swaps that the Company executes with a third party, such that the Company minimizes its net risk exposure resulting from such transactions. As the interest rate swaps associated with this program do not meet the strict hedge accounting requirements, changes in the fair value of both the customer swaps and the offsetting swaps are recognized directly in earnings. At March 31, 2026, the Company had seven interest rate swaps totaling $ 125.5 million in notional amount with commercial customers, and seven interest rate swaps with the same aggregate notional amount with third parties related to its program. In addition, at March 31, 2026, the Company had one participation loan purchased totaling $ 1.8 million, in which the lead institution has an interest rate swap with its customer and the economics of the counterparty swap are passed along to the Company through the loan participation. At December 31, 2025, the Company had six interest rate swaps totaling $ 114.4 million in notional amount with commercial customers, and six interest rate swaps with the same notional amount with third parties related to its program. In addition, at December 31, 2025, the Company had one participation loan purchased totaling $ 199,000 , in which the lead institution has an interest rate swap with its customer and the economics of the counterparty swap are passed along to the Company through the loan participation. During the three months ended March 31, 2026 and 2025, the Company recognized net losses of $ 2,000 and $ 24,000 , respectively, in non-interest income related to changes in the fair value of these swaps. Cash Flow Hedges Interest Rate Swaps . As a strategy to maintain acceptable levels of exposure to the risk of changes in future cash flows due to interest rate fluctuations, in October 2018, the Company entered into an interest rate swap transaction as part of its ongoing interest rate management strategies to hedge the risk of its floating rate loans. The notional amount of the swap was $ 400 million with a termination date of October 6, 2025. Under the terms of the swap, the Company received a fixed rate of interest of 3.018 % and paid a floating rate of interest equal to one-month USD-LIBOR. The floating rate was reset monthly and net settlements of interest due to/from the counterparty also occurred monthly. To the extent that the fixed rate of interest exceeded one-month USD-LIBOR, the Company received net interest settlements which were recorded as loan interest income. If USD-LIBOR exceeded the fixed rate of interest, the Company was required to pay net settlements to the counterparty and record those net payments as a reduction of interest income on loans. In March 2020, the Company and its swap counterparty mutually agreed to terminate the $ 400 million interest rate swap prior to its contractual maturity. The Company was paid $ 45.9 million from its swap counterparty as a result of this termination. This $ 45.9 million, less the accrued interest portion and net of deferred income taxes, was reflected in the Company’s stockholders’ equity as part of Accumulated Other Comprehensive Income (AOCI). This balance was accreted to interest income on loans monthly through the original contractual termination date of October 6, 2025. This had the effect of adjusting AOCI and increasing Net Interest Income and Retained Earnings over the period. The Company recorded $ 2.0 million of interest income related to this terminated swap in the three-month period ended March 31, 2025. After October 6, 2025, the accretion of interest income related to the terminated swap concluded. ​ 27 ​ In July 2022, the Company entered into two interest rate swap transactions as part of its ongoing interest rate management strategies to hedge the risk of its floating rate loans. The notional amount of each swap is $ 200 million with an effective date of May 1, 2023 and a termination date of May 1, 2028. Under the terms of one swap, the Company receives a fixed rate of interest of 2.628 % and pays a floating rate of interest equal to one-month USD-SOFR OIS. Under the terms of the other swap, the Company receives a fixed rate of interest of 5.725 % and pays a floating rate of interest equal to one-month USD-Prime. In each case, the floating rate resets monthly and net settlements of interest due to/from the counterparty also occur monthly. To the extent the fixed rate of interest exceeds the floating rate of interest, the Company receives net interest settlements, which are recorded as loan interest income. If the floating rate of interest exceeds the fixed rate of interest, the Company pays net settlements to the counterparty and records those net payments as a reduction of interest income on loans. At March 31, 2026, the USD-Prime rate was 6.75 % and the one-month USDSOFR OIS rate was 3.65221 %. The Company recorded a reduction of loan interest income related to these swap transactions of $ 1.0 million and $ 1.7 million in the three months ended March 31, 2026 and 2025, respectively. The effective portion of the gain or loss on the derivative is reported as a component of other comprehensive income and reclassified into earnings in the same period or periods during which the hedged transaction affected earnings. Gains and losses on the derivative representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness are recognized in current earnings. During the three months ended March 31, 2026 and 2025, the Company recognized no non-interest income related to changes in the fair value of these derivatives. The table below presents the fair value of the Company’s derivative financial instruments, as well as their classification in the Consolidated Statements of Financial Condition, at the dates indicated: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Location in ​ ​ ​ Fair Value ​ ​ Consolidated Statements ​ March 31, ​ ​ ​ December 31, ​ ​ of Financial Condition ​ 2026 ​ 2025 ​ ​ ​ ​ (In Thousands) Derivatives designated as hedging instruments ​ ​ ​ ​ ​ ​ ​ ​ Active interest rate swaps ​ Accrued expenses and other liabilities ​ $ 7,434 ​ $ 5,590 ​ ​ ​ ​ ​ ​ ​ ​ ​ Total derivatives designated as hedging instruments ​ ​ ​ $ 7,434 ​ $ 5,590 ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives not designated as hedging instruments ​ ​ ​ ​ ​ ​ ​ ​ Asset Derivatives ​ ​ ​ ​ ​ ​ ​ Interest rate products Prepaid expenses and other assets ​ $ 5,461 ​ $ 5,663 ​ ​ ​ ​ ​ ​ ​ ​ ​ Total derivatives not designated as hedging instruments ​ ​ ​ $ 5,461 ​ $ 5,663 ​ ​ ​ ​ ​ ​ ​ ​ ​ Liability Derivatives ​ ​ ​ ​ ​ ​ ​ Interest rate products ​ Accrued expenses and other liabilities ​ $ 5,446 ​ $ 5,646 ​ ​ ​ ​ ​ ​ ​ ​ ​ Total derivatives not designated as hedging instruments ​ ​ ​ $ 5,446 ​ $ 5,646 ​ The following table presents, for the periods indicated, the effect of cash flow hedge accounting through AOCI on the statements of comprehensive income: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of Gain (Loss) ​ ​ Recognized in AOCI ​ ​ Three Months Ended March 31, Cash Flow Hedges 2026 ​ ​ ​ 2025 ​ (In Thousands) Terminated interest rate swap, net of income taxes ​ $ — ​ $ ( 1,546 ) Active interest rate swaps, net of income taxes ​ ​ ( 1,390 ) ​ ​ 4,181 ​ ​ $ ( 1,390 ) ​ $ 2,635 ​ 28 ​ The following table presents, for the periods indicated, the effect of cash flow hedge accounting on the statements of income: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, Cash Flow Hedges 2026 2025 ​ Interest Interest Interest Interest ​ ​ ​ ​ Income ​ ​ ​ Expense ​ ​ ​ Income ​ ​ ​ Expense ​ (In Thousands) Total Interest Income ​ $ 71,165 ​ $ — ​ $ 80,243 ​ $ — Total Interest Expense ​ ​ — ​ ​ 22,837 ​ ​ — ​ ​ 30,909 ​ ​ $ 71,165 ​ $ 22,837 ​ $ 80,243 ​ $ 30,909 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Terminated interest rate swap ​ $ — ​ $ — ​ $ 2,003 ​ $ — Active interest rate swaps ​ ​ ( 1,031 ) ​ ​ — ​ ​ ( 1,742 ) ​ ​ — ​ ​ $ ( 1,031 ) ​ $ — ​ $ 261 ​ $ — ​ Agreements with Derivative Counterparties The Company has agreements with its derivative counterparties. If the Company defaults on any of its indebtedness, including a default where repayment of the indebtedness has not been accelerated by the lender, then the Company could also be declared in default on its derivative obligations. If the Bank fails to maintain its status as a well-capitalized institution, then the counterparty could terminate the derivative positions and the Company would be required to settle its obligations under the agreements. Similarly, the Company could be required to settle its obligations under certain of its agreements if certain regulatory events occur, such as the issuance of a formal directive, or if the Company’s credit rating is downgraded below a specified level. At March 31, 2026, the termination value of derivatives with our derivative dealer counterparties (related to loan level swaps with commercial lending customers and interest rate swaps to hedge risk related to the Company’s variable rate loans) in an overall net asset position, which included accrued interest but excluded any adjustment for nonperformance risk, related to these agreements was $ 15,000 . The Company has minimum collateral posting thresholds with its derivative dealer counterparties. At March 31, 2026, the Company had given cash collateral to one derivative counterparty of $ 3.2 million to cover its net fair value position. This counterparty position included collateral from the counterparty of $ 4.9 million for commercial lending swaps and collateral from the Company of $ 7.8 million for interest rate swaps related to variable rate loans. At December 31, 2025, the termination value of derivatives with our derivative dealer counterparties (related to loan level swaps with commercial lending customers and interest rate swaps to hedge risk related to the Company’s variable rate loans) in an overall net asset position, which included accrued interest but excluded any adjustment for nonperformance risk, related to these agreements was $ 17,000 . At December 31, 2025, the Company had given cash collateral to one derivative counterparty of $ 1.6 million to cover its net fair value position. This counterparty position included collateral from the counterparty of $ 4.5 million for commercial lending swaps and collateral from the Company of $ 6.0 million for interest rate swaps related to variable rate loans. If the Company had breached any of these provisions at March 31, 2026 or December 31, 2025, it could have been required to settle its obligations under the agreements at the termination value. Under the collateral agreements between the parties, either party may choose to provide cash or securities to satisfy its collateral requirements. ​ NOTE 17: OPERATING SEGMENTS ​ The Company’s banking operation is its only operating segment. The banking operation is principally engaged in the business of originating residential and commercial real estate loans, construction loans, commercial business loans and consumer loans and funding these loans by attracting deposits from the general public, accepting brokered deposits and borrowing from the Federal Home Loan Bank and others. The operating results of this segment are regularly reviewed by management to make decisions about resource allocations and to assess performance. The parent holding company does not have any significant operations other than ownership of the Bank, and the parent holding company’s only income is equity in the earnings of the Bank. Our chief executive officer is our chief operating decision maker. Our chief executive officer reviews actual net income versus budgeted net income, as well as comparison to other comparable financial reporting periods, to assess performance on a monthly basis and to make decisions about allocating capital and personnel. 29 ​ Financial results by operating segment (all attributed to the banking segment), including significant expense categories provided to the chief operating decision maker, are detailed below for the three months ended March 31, 2026 and 2025. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ ​ ​ 2026 ​ ​ ​ 2025 ​ ​ (In Thousands) Interest income ​ $ 71,165 ​ $ 80,243 Interest expense ​ 22,837 ​ 30,909 Net interest income ​ 48,328 ​ 49,334 ​ ​ ​ ​ ​ ​ ​ Credit loss expense ​ ( 931 ) ​ ( 348 ) Net interest income after credit loss expense ​ 49,259 ​ 49,682 ​ ​ ​ ​ ​ ​ ​ Non-interest Income ​ ​ ​ ​ Commissions ​ 615 ​ 262 Overdraft and insufficient funds fees ​ 1,231 ​ 1,215 Point-of-sale and ATM fee income and service charges ​ 3,101 ​ 3,234 Net gain on loan sales ​ 719 ​ 601 Late charges and fees on loans ​ 136 ​ 243 Fees from debit card contracts ​ 410 ​ 501 Other income ​ 817 ​ 534 ​ ​ 7,029 ​ 6,590 ​ ​ ​ ​ ​ ​ ​ Non-interest Expense ​ ​ ​ ​ Salaries and incentives ​ 16,089 ​ 16,203 Employee benefits ​ 3,982 ​ 3,926 Net occupancy expense ​ 3,175 ​ 3,379 Technology, furniture and equipment expense ​ 5,689 ​ 5,154 Postage ​ 925 ​ 931 Insurance ​ 1,072 ​ 1,165 Advertising ​ 372 ​ 290 Office supplies and printing ​ 222 ​ 266 Telephone ​ 685 ​ 706 Legal, audit and other professional fees ​ 690 ​ 1,038 Expense (income) on other real estate and repossessions ​ 54 ​ ( 70 ) Intangible asset amortization ​ 108 ​ 108 Travel meals and entertainment ​ 377 ​ 348 Other operating expenses ​ 1,352 ​ 1,378 ​ ​ 34,792 ​ 34,822 ​ ​ ​ ​ ​ ​ ​ Income Before Income Taxes ​ 21,496 ​ 21,450 Provision for Income Taxes ​ 4,020 ​ 4,290 Net Income ​ $ 17,476 ​ $ 17,160 ​ ​ ​ 30 ​