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Derivatives (Tables)

12 Months Ended

Dec. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Terms of Derivative Financial Instrument

The following table summarizes the terms of the Company’s derivative financial instrument:


	Notional Amount			Effective	Maturity
Product	December 31, 2024		Strike	Date	Date
Cap Agreement	$	7,500,000	5.25%	7/10/2024	7/6/2027

	Notional Amount			Effective	Maturity
Product	December 31, 2023		Strike	Date	Date
Cap Agreement	$	7,500,000	3.75%	12/20/2021	7/6/2024

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References + Details