Company: MGNO
Filing Date: 2025-01-03
Form Type: 10-Q/A
Source: 0000927089-25-000009
Chunk: 8

Company: Magnolia Bancorp, Inc.
Filing Date: 2025-01-03
Form: 10-Q/A
Chunk 8
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 not corrected.

Doubtful: Loans that have the weaknesses of those classified Substandard, with the added characteristic that the weaknesses make the collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. The likelihood of loss on an asset is high.

The following presents, by class and by credit quality indicator, the recorded investment in the Association's loans as of September 30, 2024and December 31, 2023 (dollars in thousands):

The Association’s credit quality indicators are periodically updated on a case-by-case basis.

| September 30, 2024 |     | Pass/ Watch |        |     | Special Mention |   |     | Substandard |   |     | Doubtful |   |     | Total |        |
|:-------------------|:----|:------------|-------:|:----|:----------------|:--|:----|:------------|:--|:----|:---------|:--|:----|:------|-------:|
| Real estate loans  |     |             |        |     |                 |   |     |             |   |     |          |   |     |       |        |
| Residential        |     | $           | 29,926 |     | $               | - |     | $           | - |     | $        | - |     | $     | 29,926 |
| Construction       |     |             |      - |     |                 | - |     |             | - |     |          | - |     |       |      - |
| Commercial         |     |             |    624 |     |                 | - |     |             | - |     |          | - |     |       |    624 |
| Share Loans        |     |             |    304 |     |                 | - |     |             | - |     |          | - |     |       |    304 |
|                    |     | $           | 30,854 |     | $               | - |     | $           | - |     | $        | - |     | $     | 30,854 |

| December 31, 2023 |     | Pass/ Watch |        |     | Special Mention |   |     | Substandard |    |     | Doubtful |   |     | Total |        |
|:------------------|:----|:------------|-------