revenue $552,000, net income $4.7M. Non-performing loans surge 8.5x to (1.7% of portfolio) as D.C. market stress hits

Filed August 7, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 8, 2025 · ~2 min read

Key Changes

• high

  Non-performing loans jumped to $61.3M (3.14%) year-over-year, driven by borrower liquidity constraints from federal shutdown impacts, D.C. policies, and elevated rates. 40% concentrated in two relationships.

  MD&A: Asset Quality verify on EDGAR →
• high

  Classified loans rose $31.5M to $115.7M, affecting seven relationships facing higher costs, vacancies, and tightening liquidity. Management states all have strong collateral and loan-to-value ratios.

  MD&A: Asset Quality verify on EDGAR →
• high

  Provision for credit losses swung to $0.6M expense from $0.5M recovery prior year, reflecting loan growth (originations doubled to $108.5M) and elevated portfolio risk from rising non-performers.

  MD&A: Provision for Credit Losses verify on EDGAR →