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SUBSEQUENT EVENTS
9 Months Ended
Sep. 30, 2024
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 16 SUBSEQUENT EVENTS

 

Subsequent events are events or transactions that occur after the balance sheet date but before financial statements are issued. Recognized subsequent events are events or transactions that provide additional evidence about conditions that existed at the date of the balance sheet, including the estimates inherent in the process of preparing financial statements. Non-recognized subsequent events are events that provide evidence about conditions that did not exist at the date of the balance sheet but arose after that date.

 

On October 1, 2024 the Bank repaid in full the $10 million Federal Reserve Bank Bank Term Funding Program Loan. On October 7, 2024 the Company made a $1.2 million partial principal repayment of NPB Capital Trust I. These payments were made from available liquidity and were not subject to any prepayment penalty or charge.