Company: MGNO
Filing Date: 2025-01-03
Form Type: 10-Q/A
Source: 0000927089-25-000009
Chunk: 12

Company: Magnolia Bancorp, Inc.
Filing Date: 2025-01-03
Form: 10-Q/A
Chunk 12
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 |    |     |                        |    |     |             |   |     |       |     |
| Individually Evaluated for Impairment |     | $                             |   - |   |     | $            |  - |     | $                      |  - |     | $           | - |     | $     |   - |
| Collectively Evaluated for Impairment |     |                               | 175 |   |     |              | 15 |     |                        | 10 |     |             | - |     |       | 200 |
|                                       |     | $                             | 175 |   |     | $            | 15 |     | $                      | 10 |     | $           | - |     | $     | 200 |

<div align='center'>16</div>

2. Loans Receivable (continued)

Allowance for Credit Losses on Unfunded Loan Commitments

The Association considered an allowance for credit losses on unfunded loan commitments as of September 30, 2024and 2023 to be insignificant.

Related-Party Loans

In the ordinary course of business, the Association has granted loans to principal officers and directors, and entities in which they have significant ownership or management positions. An analysis of the changes in loans to such borrowers for the nine months ended September 30, 2024and December 31, 2023as follows:

|                    | Related-Party Loans |   |      2024 |   |     |   |    2023 |   |
|:-------------------|:--------------------|:--|----------:|:--|:----|:--|--------:|:--|
| Balance, Beginning |                     | $ |   914,683 |   |     | $ | 850,993 |   |
| Additions          |                     |   |   425,175 |   |     |   | 127,128 |   |
| Payments           |                     |   |   (40,504 | ) |     |   | (63,438 | ) |
| Balance, Ending    |                     | $ | 1,299,354 |   |     | $ | 914,683 |   |

3. Deposits

Certificates of deposit and other time deposits issued in denominations that exceed the Federal Deposit Insurance Corporation (FDIC) insurance limit of $250,000 totaled $ and $ at September 30, 2024and December 31