# EDGAR Filing Document

**Accession Number:** 0000944130
**File Stem:** 0000944130-26-000013
**Filing Date:** 2026-5
**Character Count:** 111122
**Document Hash:** 114afed849d0bb6f2add981f701e69da
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000944130-26-000013.hdr.sgml**: 20260515

**ACCESSION NUMBER**: 0000944130-26-000013

**CONFORMED SUBMISSION TYPE**: 10-Q

**PUBLIC DOCUMENT COUNT**: 99

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260515

**DATE AS OF CHANGE**: 20260515

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MINISTRY PARTNERS INVESTMENT COMPANY, LLC
- **CENTRAL INDEX KEY:** 0000944130
- **STANDARD INDUSTRIAL CLASSIFICATION:** FINANCE SERVICES [6199]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 263959348
- **STATE OF INCORPORATION:** CA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 10-Q
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-04028-LA
- **FILM NUMBER:** 26984773

**BUSINESS ADDRESS:**
- **STREET 1:** 1 POINTE DR., SUITE 205
- **CITY:** BREA
- **STATE:** CA
- **ZIP:** 92821
- **BUSINESS PHONE:** (714) 671-5720

**MAIL ADDRESS:**
- **STREET 1:** 1 POINTE DR., SUITE 205
- **CITY:** BREA
- **STATE:** CA
- **ZIP:** 92821

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MINISTRY PARTNERS INVESTMENT CORP
- **DATE OF NAME CHANGE:** 19960506

?xml version='1.0' encoding='ASCII'? MINISTRY PARTNERS INVESTMENT COMPANY, LLC_March 31, 2026

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 10-Q**

☑ **QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

For the quarterly period ended March 31, 2026

OR

☐ **TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

For the period from _____ to _____

**333-4028-LA**

*(Commission file No.)*

**MINISTRY PARTNERS INVESTMENT COMPANY, LLC**

*(Exact name of registrant as specified in its charter)*

---

| | |
|:---|:---|
| **CALIFORNIA** | **26-3959348** |
| *(State or other jurisdiction of incorporation*<br>*or organization)* | *(I.R.S. Employer Identification No.)* |

---

**1 Pointe Drive, Suite 205, Brea, California, 92821**

*(Address of principal executive offices)*

**(800) 753-6742**

*(Registrant's telephone number, including area code)*

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes 🗹 No ◻.

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes 🗹 No ◻

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company filer, or an emerging growth company. See the definitions of "accelerated filer," "large accelerated filer," "smaller reporting company," and "emerging growth company." in Rule 12b-2 of the Exchange Act. (check one):

Large accelerated filer ◻ Accelerated filer ☐ Non-accelerated filer ◻ <br> Smaller reporting company filer ☑ Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No 🗹.

At March 31, 2026, registrant had issued and outstanding 146,522 units of its Class A common units. The information contained in this Form 10-Q should be read in conjunction with the registrant's Annual Report on Form 10-K for the year ended December 31, 2025.

------

#### MINISTRY PARTNERS INVESTMENT COMPANY, LLC

#### FORM 10-Q

#### **TABLE OF CONTENTS**

---

| | | |
|:---|:---|:---|
|  | [PART I — FINANCIAL INFORMATION](#ITEM_1_CONSOLIDATED_FINANCIAL_STATEMENTS) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Item 1:](#ITEM_1_CONSOLIDATED_FINANCIAL_STATEMENTS) | [Consolidated Financial Statements](#ITEM_1_CONSOLIDATED_FINANCIAL_STATEMENTS) | F - 1 |
|  | [Consolidated Balance Sheets](#ConsolidatedBalanceSheets_839680)  | F - 2 |
|  | [Consolidated Statements of Operations](#ConsolidatedStatementsofIncomeUnaudited_) | F - 3 |
|  | [Consolidated Statements of Cash Flows](#ConsolidatedStatementsofCashFlowsUnaudit) | F - 4 |
|  | [Notes to Consolidated Financial Statements](#NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS_7) | F - 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Item 2:](#ITEM_2_MDA_Heading) | [Management's Discussion and Analysis of Financial Condition and Results of Operations](#ITEM_2_MDA_Heading) | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Item 3:](#ITEM_3_Q_AND_Q_DISCLOSURES) | [Quantitative and Qualitative Disclosures About Market Risk](#ITEM_3_Q_AND_Q_DISCLOSURES) | 13 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Item 4:](#ITEM_4_CONTROLS_AND_PROCEDURES) | [Controls and Procedures](#ITEM_4_CONTROLS_AND_PROCEDURES) | 13 |
|  | [PART II —OTHER INFORMATION](#PARTII_671184) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Item 1:](#ITEM_1_LEGAL_PROCEEDINGS) | [Legal Proceedings](#ITEM_1_LEGAL_PROCEEDINGS) | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Item 1A:](#ITEM_1A_Risk_FACTORS) | [Risk Factors](#ITEM_1A_Risk_FACTORS) | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Item 2:](#ITEM_2_UNREGISTERED_SALES) | [Unregistered Sales of Equity Securities and Use of Proceeds](#ITEM_2_UNREGISTERED_SALES) | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Item 3:](#ITEM_3_DEFAULTS) | [Defaults Upon Senior Securities](#ITEM_3_Q_AND_Q_DISCLOSURES) | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Item 4:](#ITEM_4_MINE_SAFETY_DISCLOSURES) | [Mine Safety Disclosures](#ITEM_4_MINE_SAFETY_DISCLOSURES) | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Item 5:](#ITEM_5_OTHER_INFORMATION) | [Other Information](#ITEM_5_OTHER_INFORMATION) | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Item 6:](#Item_6_Exhibits) | [Exhibits](#Item_6_Exhibits) | 15 |
|  | [SIGNATURES](#SIGNATURE_23567) | 16 |
| Exhibit 31.1: | Certification of Chief Executive Officer pursuant to Rule 13a-14(a) or Rule 15(d)-14(a) |  |
| Exhibit 31.2: | Certification of Principal Accounting Officer pursuant to Rule 13a-14(a) or Rule 15(d)-14(a)  |  |
| Exhibit 32.1: | Certification pursuant to 18 U.S.C. §1350 as adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002 |  |
| Exhibit 32.2: | Certification pursuant to 18 U.S.C. §1350 as adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002 |  |

---

## **Table of Contents**
**PART I - FINANCIAL INFORMATION**

### Item 1: Financial Statements

## **Table of Contents**
**Ministry Partners Investment Company, LLC and Subsidiaries**

**Condensed Consolidated Balance Sheets**

**March 31, 2026 and December 31, 2025**

**(dollars in thousands except unit data)**

---

| | | |
|:---|:---|:---|
|  | **March 31,**<br>**2026** | **December 31,**<br>**2025** |
|  | **(Unaudited)** | **(Audited)** |
| **Assets:** |  |  |
| Cash and cash equivalents | $10413 | $9793 |
| Restricted cash | 1759 | 1771 |
| Certificates of deposit | 1537 | 1519 |
| Loans receivable, net of allowance for expected credit losses of $1,163 and $1,122 as of March 31, 2026 and December 31, 2025, respectively | 92758 | 90827 |
| Other assets | 3829 | 3702 |
| Total assets | $110296 | $107612 |
| **Liabilities and members' equity** |  |  |
| **Liabilities:** |  |  |
| Other secured borrowings | 6 | 6 |
| Debt certificates payable, net of debt issuance costs of $81 and $72 as of March 31, 2026 and December 31, 2025, respectively | 97426 | 94438 |
| Other liabilities  | 1876 | 1675 |
| Total liabilities  | 99308 | 96119 |
| **Members' Equity:** |  |  |
| Series A preferred units, 1,000,000 units authorized, 117,100 units issued and outstanding at March 31, 2026 and December 31, 2025 (liquidation preference of $100 per unit); See Note 13 | 11715 | 11715 |
| Class A common units, 1,000,000 units authorized, 146,522 units issued and outstanding at March 31, 2026 and December 31, 2025; See Note 13 | 1509 | 1509 |
| Net assets of Ministry Partners for Christ, with donor restrictions | 1700 | 1700 |
| Accumulated deficit | (3936) | (3431) |
| **Total members' equity**  | 10988 | 11493 |
| **Total liabilities and members' equity** | $110296 | $107612 |

---

The accompanying notes are an integral part of these consolidated financial statements.

**Ministry Partners Investment Company, LLC and Subsidiaries**

**Consolidated Statements of Operations (Unaudited)**

**For the three months ended March 31, 2026 and 2025**

**(dollars in thousands)**

---

| | | |
|:---|:---|:---|
|  | **Three months ended** | **Three months ended** |
|  | **March 31,** | **March 31,** |
|  | **2026** | **2025** |
| Interest income: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest on loans | $1607 | $2288 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest on interest-bearing accounts | 105 | 111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest income | 1712 | 2399 |
| Interest expense: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Debt certificates | 1165 | 1145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest expense | 1165 | 1145 |
| Net interest income | 547 | 1254 |
| Provision (credit) for expected credit losses | 41 | (23) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest income after provision (credit) for expected credit losses | 506 | 1277 |
| Non-interest income: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Broker-dealer commissions and fees | 197 | 159 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other income | 56 | 57 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total non-interest income | 253 | 216 |
| Non-interest expenses: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Salaries and benefits | 606 | 519 |
| &nbsp;&nbsp;&nbsp;&nbsp;Marketing and promotion | 18 | 21 |
| &nbsp;&nbsp;&nbsp;&nbsp;Office occupancy | 32 | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;Office operations and other expenses | 340 | 469 |
| &nbsp;&nbsp;&nbsp;&nbsp;Foreclosed assets |  | 10 |
| &nbsp;&nbsp;&nbsp;&nbsp;Legal and accounting | 149 | 176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total non-interest expenses  | 1145 | 1224 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income (loss) before provision for income taxes | (386) | 269 |
| &nbsp;&nbsp;Provision for income taxes and state LLC fees | 5 | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income (loss)  | $(391) | $264 |

---

The accompanying notes are an integral part of these consolidated financial statements.

**Ministry Partners Investment Company, LLC and Subsidiaries**

**Consolidated Statements of Cash Flows (Unaudited)**

**For the three months ended March 31, 2026 and 2025**

---

| | | |
|:---|:---|:---|
|  | **Three months ended** | **Three months ended** |
|  | **March 31,** | **March 31,** |
|  | **2026** | **2025** |
| CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |
| Net income (loss)  | $(391) | $264 |
| Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities: |  |  |
| &nbsp;&nbsp;Depreciation | 5 | 5 |
| &nbsp;&nbsp;Amortization of deferred loan fees, net | (5) | (11) |
| &nbsp;&nbsp;Amortization of debt issuance costs | 27 | 21 |
| &nbsp;&nbsp;Credit for expected credit losses | 41 | (23) |
| &nbsp;&nbsp;Accretion of loan discount | (2) | (4) |
| &nbsp;&nbsp;Gain on other investments | (1) | (1) |
| &nbsp;&nbsp;Changes in: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued interest receivable | (41) | (29) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other assets | (78) | 232 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued interest payable |  | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other liabilities | 193 | (34) |
| Net cash provided (used) by operating activities | (252) | 418 |
| CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |
| Loan purchases | (706) |  |
| Loan originations | (3126) | (884) |
| Loan principal collections | 1867 | 1491 |
| Redemption (purchase) of certificates of deposit | (17) | 1305 |
| Purchase of property and equipment | (12) |  |
| Net cash provided (used) by investing activities | (1994) | 1912 |
| CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |
| Net change in debt certificates payable | 2997 | (429) |
| Debt issuance costs | (36) | (32) |
| Dividends paid on preferred units | (107) | (131) |
| Net cash provided (used) by financing activities | 2854 | (592) |
| Net increase in cash and restricted cash | 608 | 1738 |
| Cash, cash equivalents, and restricted cash at beginning of period | 11564 | 10771 |
| Cash, cash equivalents, and restricted cash at end of period | $12172 | $12509 |
| Supplemental disclosures of cash flow information |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest paid | $1165 | $1146 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income taxes paid |  | 3 |
| Supplemental disclosures of non-cash transactions |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Dividends declared to preferred unit holders | 115 | 123 |

---

The accompanying notes are an integral part of these consolidated financial statements.

## MINISTRY PARTNERS INVESTMENT COMPANY, LLC

## NOTES TO Condensed CONSOLIDATED FINANCIAL STATEMENTS
**Basis of Presentation**

The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information, general financial industry practices, and with the instructions in Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes for complete financial statements and have not been audited. Certain information and note disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted. The results of operations for the periods ended March 31, 2026 and 2025 are not necessarily indicative of the results for the full year. Reference should be made to the consolidated financial statements and notes thereto contained in our 2025 annual report filed on Form 10-K provides a more detailed description of our accounting policies and notes to financial statements. There have been no material changes since the date of that report.

In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows as of March 31, 2026, and for the three months ended March 31, 2026 and 2025, have been made.

### Note 1: Nature of Business and Summary of Significant Accounting Policies
**The Company and its Subsidiaries**

Throughout these notes to consolidated financial statements, we refer to Ministry Partners Investment Company, LLC and its subsidiaries as the "Company." The Company's wholly-owned subsidiaries are: Ministry Partners Funding, LLC ("**MPF**"), MP Realty Services, Inc. **(**"**MP Realty**"), Ministry Partners Securities, LLC ("**MP Securities**"), and Ministry Partners for Christ, Inc. ("**MPC**").

**Risks and Uncertainties**

The war in Iran, the continued Russia-Ukraine conflict, Federal Reserve Board ('**FRB**") policy that is attempting to reduce inflation to its long-term target of 2%, the unknown

## **Table of Contents**
impact of global tariffs, and fluctuating interest rates in recent history are straining the U.S. economy and the U.S. consumer. While it is not possible to know the full extent of the long-term impact of these current events, the Company is disclosing potentially material factors that could impact our business of which it is aware.

**Note 2: Pledged Cash and Restricted Cash**

Under the terms of its debt agreements, the Company can pledge cash as collateral for its borrowings. On March 31, 2026 and December 31, 2025, the Company had cash of $6 thousand pledged as collateral for its secured borrowings. See ["Note 3: Related Party Transactions"](#Note3RelatedPartyTransactions_556636) for additional details. This is included in restricted cash in the table below.

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the statement of financial position to the amounts reported in the statements of cash flows (dollars in thousands):

---

| | | | |
|:---|:---|:---|:---|
|  | **March 31,** | **March 31,** | **December 31,** |
|  | **2026** | **2025** | **2025** |
| Cash and cash equivalents | $10413 | $10752 | $9793 |
| Restricted cash | 1759 | 1757 | 1771 |
| Total cash, cash equivalents, and restricted cash shown in the statement of cash flows | $12172 | $12509 | $11564 |

---

Restricted cash includes $1.7 million donated to MPC as permanently restricted funds under a designated fund agreement. The agreement allows for limited annual distributions of the funds. Other amounts included in restricted cash represent those required to be set aside in the Central Registration Depository account with Financial Industry Regulation Authority ("**FINRA**"), funds the Company has deposited with RBC Capital Markets, LLC as clearing deposits, and cash maintained in an account with America's Christian Credit Union ("**ACCU**") as collateral for the Company's secured borrowings. The Company may only use the Central Registration Depository funds for certain fees charged by FINRA. These fees are to maintain the membership status of the Company or are related to the licensing of registered and associated persons of the Company.

### Note 3: Related Party Transactions
This disclosure describes the nature, description, and amounts of related party transactions.

#### Transactions with Subsidiaries
The Company has entered into several agreements with its subsidiary, MP Securities. The Company eliminates the income and expense related to these agreements in the consolidated financial statements.

#### Related Party Transaction Policy
The Board has adopted a Related Party Transaction Policy to assist in evaluating transactions the Company may enter into with a related party. Under this policy, a majority of the members of the Company's Board and majority of its independent Board members must approve a material transaction that it enters into with a related party.

#### Related Party Transactions with Owners
The Company has entered into several transactions with its equity owners. The following table (dollars in thousands) describes the nature and dollar amounts of the related party transactions with these owners.

---

| | | |
|:---|:---|:---|
|  | **March 31,**<br>**2026** | **December 31,**<br>**2025** |
| **Balance Sheet Items** |  |  |
| &nbsp;&nbsp;Cash and cash equivalents held at related parties | $2453 | $5698 |
| &nbsp;&nbsp;Certificates of deposit held at related parties | 1537 | 1519 |
| **Off Balance Sheet Items** |  |  |
| &nbsp;&nbsp;Loans serviced for the related parties | $5802 | $5826 |

---

## **Table of Contents**

---

| | | |
|:---|:---|:---|
|  | **Three months ended** | **Three months ended** |
|  | **March 31,** | **March 31,** |
|  | **2026** | **2025** |
| **Income Statement Items** |  |  |
| &nbsp;&nbsp;Interest income on loans purchased from related parties | $36 | $18 |
| &nbsp;&nbsp;Interest income on interest-bearing accounts held at related parties | 45 | 48 |
| &nbsp;&nbsp;Interest expense on other debt due to related parties |  |  |
| &nbsp;&nbsp;Networking fees paid to related parties for referring business to the Company | 26 | 17 |
| &nbsp;&nbsp;Income from broker services provided to related parties | 6 | 6 |

---

#### Related Party Transactions with Management
From time to time, the Company's Board and members of its executive management team have purchased debt certificates from the Company or have purchased investment products through MP Securities. The following table (dollars in thousands) describes the nature and dollar amounts of these related party transactions with its management.

---

| | | |
|:---|:---|:---|
|  | **March 31,**<br>**2026** | **December 31,**<br>**2025** |
| Outstanding public offering debt certificates payable to officers and managers | $2183 | $2278 |

---

### Note 4: Loans Receivable and Allowance for Expected Credit Losses
The Company's loan portfolio comprises two segments, non-profit commercial loans to Christian churches and ministries, and for-profit commercial loans.

The loan portfolio had a weighted average interest rate of 7.00% and 6.87% as of March 31, 2026 and December 31, 2025, respectively.

## **Table of Contents**
The table below is a summary of the Company's loans receivable (dollars in thousands):

---

| | | |
|:---|:---|:---|
|  | **March 31,**<br>**2026** | **December 31,**<br>**2025** |
| **Non-profit commercial loans:** |  |  |
| &nbsp;&nbsp;Real estate secured | $84928 | $82911 |
| &nbsp;&nbsp;Construction | 1125 | 1125 |
| &nbsp;&nbsp;Unsecured | 325 | 325 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total non-profit commercial loans: | 86378 | 84361 |
| **For-profit commercial loans:** |  |  |
| &nbsp;&nbsp;Real estate secured | 7889 | 7915 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans | 94267 | 92276 |
| Deferred loan fees, net | (127) | (106) |
| Loan discount | (219) | (221) |
| Allowance for expected credit losses | (1163) | (1122) |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans, net | $92758 | $90827 |

---

#### Allowance for expected credit losses
Management believes it has properly calculated the allowance for expected credit losses using the Current Expected Credit Loss ("**CECL**") methodology as of March 31, 2026 and December 31, 2025. The following table shows the changes in the allowance for expected credit losses for the three months ended March 31, 2026 and the year ended December 31, 2025 (dollars in thousands):

---

| | | | |
|:---|:---|:---|:---|
|  | **Three months ended** | **Three months ended** | **Three months ended** |
|  | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** |
| Segment: | **Non-profit Commercial**  | **For-profit Commercial** | **Total** |
| Balance, beginning of period | $1100 | $22 | $1122 |
| &nbsp;&nbsp;Provision for expected credit loss | 34 | 7 | 41 |
| &nbsp;&nbsp;Charge-offs |  |  |  |
| &nbsp;&nbsp;Recoveries |  |  |  |
| Balance, end of period | $1134 | $29 | $1163 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Year ended** | **Year ended** | **Year ended** |
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| Segment: | **Non-profit Commercial**  | **For-profit Commercial** | **Total** |
| Balance, beginning of period | $1119 | $37 | $1156 |
| &nbsp;&nbsp;Credit for expected credit loss | (19) | (15) | (34) |
| &nbsp;&nbsp;Charge-offs |  |  |  |
| &nbsp;&nbsp;Recoveries |  |  |  |
| Balance, end of period | $1100 | $22 | $1122 |

---

## **Table of Contents**
In the course of its lending operations, the Company has made loans that include commitments to fund additional amounts over the remaining term of the loan. See ["Note 12: Commitments and Contingencies"](#Note12CommitmentsandContingencies_528861) for details on its allowance for credit losses on off-balance sheet commitments.

The table below presents loans by portfolio segment and the related allowance for expected credit losses. In addition, the table segregates loans and the allowance for expected credit losses by impairment methodology (dollars in thousands):

---

| | | |
|:---|:---|:---|
|  | ***Loans and Allowance for Expected Credit Losses (by segment)*** | ***Loans and Allowance for Expected Credit Losses (by segment)*** |
|  | ***As of***  | ***As of***  |
|  | **March 31, 2026** | **December 31, 2025** |
| **Non-profit Commercial Loans:** |  |  |
| &nbsp;&nbsp;Individually evaluated for impairment | $14936 | $14965 |
| &nbsp;&nbsp;Collectively evaluated for impairment  | 71442 | 69396 |
| Total Non-profit Commercial Loans | 86378 | 84361 |
| **For-profit Commercial Loans:** |  |  |
| &nbsp;&nbsp;Individually evaluated for impairment |  |  |
| &nbsp;&nbsp;Collectively evaluated for impairment  | 7889 | 7915 |
| Total For-profit Commercial Loans | 7889 | 7915 |
| Balance | $94267 | $92276 |
| **Allowance for expected credit losses:** |  |  |
| **Non-profit Commercial Loans:** |  |  |
| &nbsp;&nbsp;Individually evaluated for impairment | $572 | $589 |
| &nbsp;&nbsp;Collectively evaluated for impairment  | 562 | 511 |
| Total Non-profit Commercial Loan Allowance | 1134 | 1100 |
| **For-profit Commercial Loans:** |  |  |
| &nbsp;&nbsp;Individually evaluated for impairment |  |  |
| &nbsp;&nbsp;Collectively evaluated for impairment  | 29 | 22 |
| Total For-profit Commercial Loan Allowance | 29 | 22 |
| Balance | $1163 | $1122 |

---

The Company has established a loan grading system to assist management in their analysis and supervision of the loan portfolio. The following tables summarize the credit quality indicators by loan class (dollars in thousands):

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| ***Credit Quality Indicators (by class)*** | ***Credit Quality Indicators (by class)*** | ***Credit Quality Indicators (by class)*** | ***Credit Quality Indicators (by class)*** | ***Credit Quality Indicators (by class)*** | ***Credit Quality Indicators (by class)*** | ***Credit Quality Indicators (by class)*** | ***Credit Quality Indicators (by class)*** |
| ***As of March 31, 2026*** | ***As of March 31, 2026*** | ***As of March 31, 2026*** | ***As of March 31, 2026*** | ***As of March 31, 2026*** | ***As of March 31, 2026*** | ***As of March 31, 2026*** | ***As of March 31, 2026*** |
|  | **Pass** | **Watch** | **Special Mention** | **Substandard** | **Doubtful** | **Loss** | **Total** |
| **Non-profit Commercial Loans** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Wholly Owned First Amortizing | $47866 | $19625 | $5408 | $8244 | $— | $— | $81143 |
| &nbsp;&nbsp;Wholly Owned Other Amortizing | 1293 |  |  | 1284 |  |  | 2577 |
| &nbsp;&nbsp;Wholly Owned Unsecured Amortizing | 11 | 25 |  |  |  |  | 36 |
| &nbsp;&nbsp;Wholly Owned Other LOC | 92 |  |  |  |  |  | 92 |
| &nbsp;&nbsp;Wholly Owned Unsecured LOC | 300 |  |  |  |  |  | 300 |
| &nbsp;&nbsp;Wholly Owned Construction | 1125 |  |  |  |  |  | 1125 |
| &nbsp;&nbsp;Participation First | 1105 |  |  |  |  |  | 1105 |
| Total Non-profit Commercial Loans | 51792 | 19650 | 5408 | 9528 |  |  | 86378 |
| **For-profit Commercial Loans** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Wholly Owned First Amortizing | 4151 | 805 |  |  |  |  | 4956 |
| &nbsp;&nbsp;Participation First | 2805 | 128 |  |  |  |  | 2933 |
| &nbsp;&nbsp;Participation Construction |  |  |  |  |  |  |  |
| Total For-profit Commercial Loans | 6956 | 933 |  |  |  |  | 7889 |
| Total Loans | $58748 | $20583 | $5408 | $9528 | $— | $— | $94267 |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| ***Credit Quality Indicators (by class)*** | ***Credit Quality Indicators (by class)*** | ***Credit Quality Indicators (by class)*** | ***Credit Quality Indicators (by class)*** | ***Credit Quality Indicators (by class)*** | ***Credit Quality Indicators (by class)*** | ***Credit Quality Indicators (by class)*** | ***Credit Quality Indicators (by class)*** |
| ***As of December 31, 2025*** | ***As of December 31, 2025*** | ***As of December 31, 2025*** | ***As of December 31, 2025*** | ***As of December 31, 2025*** | ***As of December 31, 2025*** | ***As of December 31, 2025*** | ***As of December 31, 2025*** |
|  | **Pass** | **Watch** | **Special Mention** | **Substandard** | **Doubtful** | **Loss** | **Total** |
| **Non-profit Commercial Loans** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Wholly Owned First Amortizing | $48590 | $16525 | $5408 | $8248 | $— | $— | $78771 |
| &nbsp;&nbsp;Wholly Owned Other Amortizing | 1307 |  |  | 1309 |  |  | 2616 |
| &nbsp;&nbsp;Wholly Owned Unsecured Amortizing | 12 | 25 |  |  |  |  | 37 |
| &nbsp;&nbsp;Wholly Owned Unsecured LOC | 300 |  |  |  |  |  | 300 |
| &nbsp;&nbsp;Wholly Owned Construction | 385 |  |  |  |  |  | 385 |
| &nbsp;&nbsp;Participation First | 1180 |  |  |  |  |  | 1180 |
| &nbsp;&nbsp;Participation Construction | 1072 |  |  |  |  |  | 1072 |
| Total Non-profit Commercial Loans | 52846 | 16550 | 5408 | 9557 |  |  | 84361 |
| **For-profit Commercial Loans** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Wholly Owned First Amortizing | 4164 | 807 |  |  |  |  | 4971 |
| &nbsp;&nbsp;Participation First | 1339 | 129 |  |  |  |  | 1468 |
| &nbsp;&nbsp;Participation Construction | 1476 |  |  |  |  |  | 1476 |
| Total For-profit Commercial Loans | 6979 | 936 |  |  |  |  | 7915 |
| Total Loans | $59825 | $17486 | $5408 | $9557 | $— | $— | $92276 |

---

The following table sets forth certain information with respect to the Company's loan portfolio delinquencies by loan class and amount (dollars in thousands):

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| ***Age Analysis of Past Due Loans (by class)*** | ***Age Analysis of Past Due Loans (by class)*** | ***Age Analysis of Past Due Loans (by class)*** | ***Age Analysis of Past Due Loans (by class)*** | ***Age Analysis of Past Due Loans (by class)*** | ***Age Analysis of Past Due Loans (by class)*** | ***Age Analysis of Past Due Loans (by class)*** | ***Age Analysis of Past Due Loans (by class)*** |
| ***As of March 31, 2026*** | ***As of March 31, 2026*** | ***As of March 31, 2026*** | ***As of March 31, 2026*** | ***As of March 31, 2026*** | ***As of March 31, 2026*** | ***As of March 31, 2026*** | ***As of March 31, 2026*** |
|  | **30-59 Days Past Due** | **60-89 Days Past Due** | **Greater Than 90 Days** | **Total PastDue** | **Current** | **Total Loans** | **RecordedInvestment 90Days or Moreand Still Accruing**  |
| **Non-profit Commercial Loans** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Wholly Owned First Amortizing | $6063 | $1096 | $— | $7159 | $73984 | $81143 | $— |
| &nbsp;&nbsp;Wholly Owned Other Amortizing |  |  |  |  | 2577 | 2577 |  |
| &nbsp;&nbsp;Wholly Owned Unsecured Amortizing |  |  |  |  | 36 | 36 |  |
| &nbsp;&nbsp;Wholly Owned Other LOC |  |  |  |  | 92 | 92 |  |
| &nbsp;&nbsp;Wholly Owned Unsecured LOC |  |  |  |  | 300 | 300 |  |
| &nbsp;&nbsp;Wholly Owned Construction |  |  |  |  | 1125 | 1125 |  |
| &nbsp;&nbsp;Participation First |  |  |  |  | 1105 | 1105 |  |
| Total Non-profit Commercial Loans | 6063 | 1096 |  | 7159 | 79219 | 86378 |  |
| **For-profit Commercial Loans** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Wholly Owned First Amortizing |  |  |  |  | 4956 | 4956 |  |
| &nbsp;&nbsp;Participation First |  |  |  |  | 2933 | 2933 |  |
| &nbsp;&nbsp;Participation Construction |  |  |  |  |  |  |  |
| Total For-profit Commercial Loans |  |  |  |  | 7889 | 7889 |  |
| Total Loans | $6063 | $1096 | $— | $7159 | $87108 | $94267 | $— |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| ***Age Analysis of Past Due Loans (by class)*** | ***Age Analysis of Past Due Loans (by class)*** | ***Age Analysis of Past Due Loans (by class)*** | ***Age Analysis of Past Due Loans (by class)*** | ***Age Analysis of Past Due Loans (by class)*** | ***Age Analysis of Past Due Loans (by class)*** | ***Age Analysis of Past Due Loans (by class)*** | ***Age Analysis of Past Due Loans (by class)*** |
| ***As of December 31, 2025*** | ***As of December 31, 2025*** | ***As of December 31, 2025*** | ***As of December 31, 2025*** | ***As of December 31, 2025*** | ***As of December 31, 2025*** | ***As of December 31, 2025*** | ***As of December 31, 2025*** |
|  | **30-59Days Past Due** | **60-89 Days Past Due** | **Greater Than 90 Days** | **Total PastDue** | **Current** | **Total Loans** | **RecordedInvestment 90Days or Moreand Still Accruing**  |
| **Non-profit Commercial Loans** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Wholly Owned First Amortizing | $7336 | $— | $1981 | $9317 | $69454 | $78771 | $— |
| &nbsp;&nbsp;Wholly Owned Other Amortizing |  |  |  |  | 2616 | 2616 |  |
| &nbsp;&nbsp;Wholly Owned Unsecured Amortizing |  |  |  |  | 37 | 37 |  |
| &nbsp;&nbsp;Wholly Owned Unsecured LOC |  |  |  |  | 300 | 300 |  |
| &nbsp;&nbsp;Wholly Owned Construction | 53 |  |  | 53 | 332 | 385 |  |
| &nbsp;&nbsp;Participation First |  |  | 59 | 59 | 1121 | 1180 | 59 |
| &nbsp;&nbsp;Participation Construction |  |  |  |  | 1072 | 1072 |  |
| Total Non-profit Commercial Loans | 7389 |  | 2040 | 9429 | 74932 | 84361 | 59 |
| **For-profit Commercial Loans** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Wholly Owned First Amortizing |  |  |  |  | 4971 | 4971 |  |
| &nbsp;&nbsp;Participation First |  |  |  |  | 1468 | 1468 |  |
| &nbsp;&nbsp;Participation Construction |  |  |  |  | 1476 | 1476 |  |
| Total For-profit Commercial Loans |  |  |  |  | 7915 | 7915 |  |
| Total Loans | $7389 | $— | $2040 | $9429 | $82847 | $92276 | $— |

---

#### Impaired Loans
No loans in the Company's for-profit commercial loan segment were classified as impaired or non-accrual at December 31, 2025 or March 31, 2026. The tables below represent the breakdown by class of the non-profit loan portfolio segment only (dollars in thousands):

## **Table of Contents**

---

| | | |
|:---|:---|:---|
| <br>***Impaired Non-profit commercial Loans (by class)*** | **As of**<br>**March 31,**<br>**2026** | **As of** <br>**December 31,**<br>**2025** |
| **Wholly Owned First Amortizing** |  |  |
| &nbsp;&nbsp;Recorded investment with specific allowance | $7565 | $7569 |
| &nbsp;&nbsp;Recorded with no specific allowance | 7691 | 11987 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total recorded investment | $15256 | $19556 |
| &nbsp;&nbsp;Unpaid principal balance | $15683 | $20021 |
| **Wholly Owned Other Amortizing** |  |  |
| &nbsp;&nbsp;Recorded investment with specific allowance | $1284 | $1309 |
| &nbsp;&nbsp;Recorded with no specific allowance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total recorded investment | $1284 | $1309 |
| &nbsp;&nbsp;Unpaid principal balance | $1685 | $1685 |
| **Total Impaired Loans** |  |  |
| &nbsp;&nbsp;Recorded investment with specific allowance | $8849 | $8878 |
| &nbsp;&nbsp;Recorded with no specific allowance | 7691 | 11987 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total recorded investment | $16540 | $20865 |
| &nbsp;&nbsp;Unpaid principal balance | $17368 | $21706 |

---

---

| | | |
|:---|:---|:---|
| | **For the three months ended** | **For the three months ended** |
| <br>***Impaired Non-profit Commercial Loans (by class)*** | **March 31,**<br>**2026** | **March 31,**<br>**2025** |
| **Wholly Owned First Amortizing** |  |  |
| &nbsp;&nbsp;Average recorded investment | $15244 | $19615 |
| &nbsp;&nbsp;Interest income recognized | 279 | 988 |
| **Wholly Owned Other Amortizing** |  |  |
| &nbsp;&nbsp;Average recorded investment | 940 | 1401 |
| &nbsp;&nbsp;Interest income recognized |  |  |
| **Total Impaired Loans** |  |  |
| &nbsp;&nbsp;Average recorded investment | $16184 | $21016 |
| &nbsp;&nbsp;Interest income recognized | 279 | 988 |

---

A summary of nonaccrual loans by loan class is as follows (dollars in thousands):

---

| | | |
|:---|:---|:---|
| ***Loans on Nonaccrual Status (by class)***  | ***Loans on Nonaccrual Status (by class)***  | ***Loans on Nonaccrual Status (by class)***  |
|  | **as of** | **as of** |
|  | **March 31, 2026** | **December 31, 2025** |
| **Non-profit Commercial Loans:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Wholly Owned First Amortizing | $9238 | $9242 |
| &nbsp;&nbsp;&nbsp;&nbsp;Wholly Owned Other Amortizing | 1284 | 1309 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $10522 | $10551 |

---

The Company modified two loans during the three months ended March 31, 2026 and during the three months ended March 31, 2025. A summary of loans the Company modified during the three-month periods ended March 31, 2026 and 2025 is as follows (dollars in thousands):

---

| | | |
|:---|:---|:---|
| ***Loan Modifications (by class)*** | ***Loan Modifications (by class)*** | ***Loan Modifications (by class)*** |
|  | ***For the three months ended*** | ***For the three months ended*** |
|  | **March 31, 2026** | **March 31, 2025** |
| **Non-profit Commercial Loans:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Wholly Owned First Amortizing** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Number of Loans | 2 | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-Modification Outstanding Recorded Investment | $3125 | $1784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Post-Modification Outstanding Recorded Investment | 3125 | 1784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Recorded Investment At Period End | 3125 | 1784 |

---

Of the two loans modified during the three months ended March 31, 2026, one was granted a short-term extension of its maturity date. The other was modified to reduce its payment amount and to alter its payment type to apply all payments to principal. Of the two loans modified during the three months ended March 31, 2025, both were granted short-term extensions of their maturity dates. One of the loans had a modification that changed their payment type to interest-only.

As of March 31, 2026, the Company has made no commitments to advance additional funds in connection with loan modifications.

### Note 5: Investments

#### Joint Venture
The Company has an ownership interest in a joint venture that owns real estate. See the Company's annual report on Form 10-K for the year ended December 31, 2025 for more information on the joint venture. The Company's ownership percentage in the joint venture was 73% as of March 31, 2026 and December 31, 2025.

As of March 31, 2026 and December 31, 2025, the value of the Company's investment in the joint venture was $874 thousand and $875 thousand, respectively. Management's impairment analysis of the investment as of March 31, 2026, has determined that the investment is not impaired.

#### Certificates of Deposit
The Company held an investment in a certificate of deposit with an original maturity greater than three months on March 31, 2026.

## **Table of Contents**
Details of this certificate as of March 31, 2026, are as follows (dollars in thousands):

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***As of March 31, 2026*** | ***As of March 31, 2026*** | ***As of March 31, 2026*** | ***As of March 31, 2026*** | ***As of March 31, 2026*** |
| **Certificate** | **Open Date** | **Certificate Amount** | **Interest Rate** | **Maturity Date** |
| CD 1 | 9/23/2025 | $1537 | 4.65% | 6/24/2026 |

---

#### Other Investments
In June 2022, the Company entered into two indexed annuity insurance contracts whereby an insurance company guarantees a fixed rate of return in exchange for holding a deposit from the Company for the contracted period of ten years.

Additional information related to these investments is as follows (dollars in thousands):

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | | **Income for the three months ended** | **Income for the three months ended** |
| <br>**Investment Type** | <br>**Maturity Date** | <br>**Original Cost** | <br>**Net Carrying Amount** | **March 31, 2026** | **March 31, 2025** |
| Fixed annuity | June 2032 | $1000 | $1099 | $1 | $1 |

---

**Note 6: Revenue Recognition**

The Company recognizes two primary types of revenue: interest income and non-interest income. The following tables reflect the Company's non-interest income disaggregated by financial statement line item. Items outside of the scope of ASC 606 are noted as such (dollars in thousands):

---

| | | |
|:---|:---|:---|
|  | **Three months ended** | **Three months ended** |
|  | **March 31,** | **March 31,** |
|  | **2026** | **2025** |
| Non-interest income, in scope of ASC 606 |  |  |
| &nbsp;&nbsp;Broker-dealer fees and commissions | $197 | $159 |
| &nbsp;&nbsp;Gains on loan sales |  | 2 |
| &nbsp;&nbsp;Gain on sale of foreclosed assets |  |  |
| &nbsp;&nbsp;Other investment income | 1 | 1 |
| &nbsp;&nbsp;Other non-interest income |  |  |
| Non-interest income, out of scope, ASC 606 |  |  |
| &nbsp;&nbsp;Lending fees | 55 | 54 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total non-interest income | $253 | $216 |

---

#### Revenue from Contracts with Customers
In accordance with our accounting policies as governed by ASC 606, Revenue from Contracts with Customers, the following table separates revenue from contracts with customers into categories that are based on the nature, amount, timing, and uncertainty of revenue and cash flows associated with each product and distribution channel. Non-interest

## **Table of Contents**
revenue earned by the Company's broker-dealer subsidiary, MP Securities, comprises securities commissions, sale of investment company shares, insurance product revenue, and advisory fee income. Securities commission revenue represents the sale of over-the-counter stock, unit investment trusts, and variable annuities. The Company recognizes the revenue earned from the sale of these products upon satisfaction of performance obligations, which occur on the trade date, and is considered transactional revenue. The Company also earns revenue from the management of invested assets, which management recognizes monthly, as earned, based on the average asset value. We refer to this revenue as assets under management revenue ("**AUM**").

---

| | | |
|:---|:---|:---|
|  | ***For the three months ended*** | ***For the three months ended*** |
| (dollars in thousands) | **March 31, 2026** | **March 31, 2025** |
| **Broker-dealer revenue** |  |  |
| &nbsp;&nbsp;**Securities commissions** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Transactional | $— | $1 |
| &nbsp;&nbsp;&nbsp;&nbsp;AUM | 18 | 12 |
|  | 18 | 13 |
| &nbsp;&nbsp;**Sale of investment company products** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Transactional | 1 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;AUM | 18 | 15 |
|  | 19 | 16 |
| &nbsp;&nbsp;**Other insurance product revenue** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Transactional | 24 | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp;AUM | 10 | 10 |
|  | 34 | 24 |
| &nbsp;&nbsp;**Advisory fee income** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Transactional |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;AUM | 126 | 106 |
|  | 126 | 106 |
| **Total broker-dealer revenue** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Transactional | 25 | 16 |
| &nbsp;&nbsp;&nbsp;&nbsp;AUM | 172 | 143 |
|  | $197 | $159 |

---

### Note 7: Loan Sales
A summary of loan participation sales and servicing assets are as follows (dollars in thousands):

---

| | | | |
|:---|:---|:---|:---|
|  | **As of and for the** | **As of and for the** | **As of and for the** |
|  | **Three months ended** | **Three months ended** | |
|  | **March 31,** | **March 31,** | **Year ended**<br>**December 31,** |
|  | **2026** | **2025** | **2025** |
| Loan participation interests sold by the Company | $— | $— | $1100 |
| Total participation interests sold and serviced by the Company | 28434 | 32183 | 29388 |
| Servicing income | 35 | 19 | 117 |
| **Servicing Assets** |  |  |  |
| Balance, beginning of period | $161 | $177 | $177 |
| Additions: |  |  |  |
| &nbsp;&nbsp;Servicing obligations from sale of loan participations |  |  | 33 |
| Subtractions: |  |  |  |
| &nbsp;&nbsp;Amortization | (6) | (25) | (49) |
| Balance, end of period | $155 | $152 | $161 |

---

#### ACCU Loan Participation Agreement (Secured Borrowings)
Effective August 9, 2021, the Company entered into a Master Loan Participation Purchase and Sale Agreement with ACCU. Under the Master LP Agreement, the Company makes sales on a recourse basis, requiring the Company to repurchase the participation interest in the event of default by the borrower. Due to the recourse provisions of the agreement, these participation sales are classified as secured borrowings and are presented as part of other secured borrowings on the Company's consolidated balance sheets. The Company did not sell any loan participations to ACCU under the provisions of the Master LP Agreement during the three months ended March 31, 2026 and 2025.

### Note 8: Foreclosed Assets
As of September 30, 2025, the Company had entered into an agreement to sell the property it held as a foreclosed asset. The Company recognized a gain on sale of $182 thousand as a result of this sale. $483 thousand in cash proceeds were received in October 2025. The property was valued at $301 thousand immediately prior to the sale and as of March 31, 2025. There was no allowance for losses on foreclosed assets prior to the sale agreement or at March 31, 2025. The Company did not record any provision for losses on foreclosed assets during the three months ended March 31, 2025.

## **Table of Contents**
Expenses applicable to foreclosed assets include the following (dollars in thousands):

---

| | |
|:---|:---|
| | ***For the three months endedMarch 31,*** |
| <br>***Foreclosed Asset Expenses*** | **2025** |
| Provision for losses | $— |
| Operating expenses | 10 |
| Total foreclosed asset expenses | $10 |

---

**Note 9: Premises and Equipment**

The table below summarizes our premises and equipment (dollars in thousands):

---

| | | |
|:---|:---|:---|
|  | **As of** | **As of** |
|  | **March 31,**<br>**2026** | **December 31,**<br>**2025** |
| Furniture and office equipment | $240 | $454 |
| Computer system | 67 | 226 |
| Leasehold improvements |  | 43 |
| &nbsp;&nbsp;Total premises and equipment | 307 | 723 |
| &nbsp;&nbsp;Less accumulated depreciation and amortization | (236) | (659) |
| Premises and equipment, net | $71 | $64 |

---

---

| | | |
|:---|:---|:---|
|  | ***For the three months ended*** | ***For the three months ended*** |
|  | **March 31,** | **March 31,** |
|  | **2026** | **2025** |
| Depreciation and amortization expense | $6 | $5 |

---

**Note 10: Credit Facilities and Other Debt**

Details of the Company's debt facilities as of March 31, 2026, are as follows (dollars in thousands):

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Nature ofBorrowing** | **Interest Rate** | **InterestRateType** | **AmountOutstanding** | **Amount Available to Borrow** | **MaturityDate** | **Amount ofLoanCollateralPledged** | **Other AssetsPledged\*** |
| ACCU LOC | 9.25% | Variable |  | $5000 | 11/28/2026 | $6004 | $— |
| ACCU Secured | Various | Fixed | 6 |  | Various |  | 6 |

---

\*Represents cash or certificates of deposit

All lines of credit require monthly interest-only payments until maturity. The ACCU secured borrowings are repaid through the monthly principal and interest payments on the underlying loans.

Our lines of credit also contain affirmative covenants typical for credit facilities of this nature. The Company was in compliance with these covenants at March 31, 2026 and December 31, 2025.

#### ACCU Line of Credit
On September 23, 2021, Ministry Partners Investment Company, LLC, entered into a Loan and Security Agreement with ACCU ("**ACCU LOC**"). The ACCU LOC is a revolving $5.0 million short-term demand credit facility. On November 6, 2025, the Company reached an agreement ("Renewal Agreement") to renew the LOC for a one-year term that ends on November 28, 2026. The ACCU LOC will continue to automatically renew for one additional one-year term unless either party furnishes written notice at least ninety (90) days prior to the termination date that it does not intend to renew the agreement.

The Renewal Agreement made two additional changes to the terms of the ACCU LOC. First, the Renewal Agreement decreased the interest rate spread from 1.00% over the published Prime Rate to 0.50% over Prime. The Renewal Agreement also modified a covenant that requires the Company to maintain an average monthly balance in a money market account held at ACCU from a minimum of $1.0 million to a minimum of $2.5 million. No other terms were modified.

There was no outstanding balance on the ACCU LOC at March 31, 2026 and December 31, 2025.

#### ACCU Secured Borrowings
On August 9, 2021, the Company entered into a Master Loan Participation Purchase and Sale Agreement with ACCU. The participations sold under the Master LP Agreement are considered secured borrowings and are presented as such on the Company's balance sheet. $6 thousand in secured borrowings were outstanding under the Master LP Agreement as of March 31, 2026 and December 31, 2025. These borrowings have various contractual maturities ranging from 2028 to 2032.

## **Table of Contents**

### Note 11: Debt Certificates Payable
Information on the Company's debt certificates payable can be found in our Annual Report on Form 10-K for the year ended December 31, 2025. The Company is subject to certain covenants on its Subordinated Notes and was in compliance with those covenants as of March 31, 2026 and December 31, 2025.

The table below provides information on the Company's debt certificates payable (dollars in thousands):

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **As of**  | **As of**  | **As of**  | **As of**  |
| | | **March 31, 2026** | **March 31, 2026** | **December 31, 2025** | **December 31, 2025** |
| <br>**SEC Registered Public Offerings** | <br>**Offering Type** | **Amount** | **Weighted Average Interest Rate** | **Amount** | **Weighted Average Interest Rate** |
| &nbsp;&nbsp;2021 Class A Offering | Unsecured | $18013 | 4.64% | $21463 | 4.68% |
| &nbsp;&nbsp;2024 Class A Offering | Unsecured | 52100 | 4.63% | 45591 | 4.77% |
| Public Offerings Total |  | $70113 | 4.63% | $67054 | 4.74% |
| **Private Offerings** | **Offering Type** |  |  |  |  |
| &nbsp;&nbsp;Subordinated Notes | Unsecured | $27394 | 5.28% | $27456 | 5.24% |
| Private Offering Total |  | $27394 | 5.28% | $27456 | 5.24% |
| Total Debt Certificates Payable |  | $97507 | 4.81% | $94510 | 4.89% |

---

Future maturities for the Company's debt certificates during the twelve-month periods ending March 31, are as follows (dollars in thousands):

---

| | |
|:---|:---|
| 2027 | $53134 |
| 2028 | 12254 |
| 2029 | 11916 |
| 2030 | 9741 |
| 2031 | 10462 |
| Total | $97507 |
| Less: debt issuance costs | 81 |
| Debt certificates payable, net of debt issuance costs | $97426 |

---

### Note 12: Commitments and Contingencies

#### Unfunded Commitments
The contractual amount of these commitments represents the Company's exposure to credit loss. The Company uses the same credit policies in making commitments as it does for on-balance-sheet instruments. The table below shows the outstanding financial instruments whose contract amounts represent credit risk (dollars in thousands):

## **Table of Contents**

---

| | | |
|:---|:---|:---|
|  | **Contract Amount at:** | **Contract Amount at:** |
|  | **March 31, 2026** | **December 31, 2025** |
| Undisbursed loans | $75 | $75 |

---

The balance of the allowance for credit losses on off-balance sheet commitments is recorded in other liabilities on the Company's consolidated balance sheet. The following table details activity in the allowance for credit losses on off-balance sheet commitments (dollars in thousands):

---

| | | |
|:---|:---|:---|
|  | **Three months ended** | **Year ended** |
|  | **March 31, 2026** | **December 31, 2025** |
| Balance, beginning of period | $1 | $2 |
| &nbsp;&nbsp;Provision for losses on unfunded commitments |  | (1) |
| Balance, end of period | $1 | $1 |

---

#### Operating Leases
In June 2025, the Company reached an agreement to extend its lease of office space in Fresno, California, for 38 months, terminating in July 2028. The Company recorded $82 thousand in right-of-use assets and lease liabilities related to this agreement.

The table below presents information regarding our existing operating leases (dollars in thousands):

---

| | | | |
|:---|:---|:---|:---|
|  | **For the** | **For the** | **For the** |
|  | **Three months ended** | **Three months ended** | |
|  | **March 31,** | **March 31,** | **Year ended**<br>**December 31,** |
|  | **2026** | **2025** | **2025** |
| Lease cost |  |  |  |
| Operating lease cost | $28 | $28 | $111 |
| Other information |  |  |  |
| Cash paid for operating leases | 29 | 15 | 193 |
| Right-of-use assets obtained in exchange for operating lease liabilities |  |  | 82 |
| Lease liabilities recorded |  |  | 82 |
| Weighted average remaining lease term (in years) | 3.13 | 4.30 | 2.85 |
| Weighted-average discount rate | 5.16% | 4.55% | 5.07% |

---

## **Table of Contents**
Future minimum lease payments and lease costs for the twelve months ending March 31, are as follows (dollars in thousands):

---

| | | |
|:---|:---|:---|
|  | **Lease Payments** | **Lease Costs** |
| 2027 | $117 | $112 |
| 2028 | 120 | 112 |
| 2029 | 102 | 92 |
| 2030 | 31 | 27 |
| Total | $370 | $343 |

---

**Note 13: Preferred and Common Units under LLC Structure**

Holders of the Series A Preferred Units are entitled to receive a quarterly cash dividend that is 25 basis points higher than the one-year London Inter-Bank Offered Rate ("**LIBOR**") in effect on the last day of the calendar month for which the preferred return is approved. The UK Financial Conduct Authority announced on December 4, 2020, that the USD LIBOR for 1, 3, 6, and 12 months will no longer be published after June 30, 2023. Effective as of July 1, 2023, the Company uses the Secured Overnight Financing Rate ("**SOFR**') as established by the Federal Reserve Bank of New York. In addition to the quarterly cash dividend, the Company has also agreed to set aside an annual amount equal to 10% of its net profits earned for any year, after subtracting from profits the quarterly Series A Preferred Unit dividends paid, for distribution to its Series A Preferred Unit holders.

The Series A Preferred Units have a liquidation preference of $100 per unit and have no voting rights. They are also subject to redemption in whole or in part at the Company's election on December 31 of any year for an amount equal to the liquidation preference of each unit, plus any accrued and declared but unpaid quarterly dividends and preferred distributions on such units. The Series A Preferred Units have priority as to earnings and distributions over the Common Units. The resale of the Company's Series A Preferred Units and Common Units are subject to the Company's first right of refusal to purchase units proposed to be transferred. Upon the Company's failure to pay quarterly dividends for four consecutive quarters, the holders of the Series A Preferred Units have the right to appoint two managers to the Company's Board of Managers.

The Class A Common Units have voting rights, but have no liquidation preference or rights to dividends, unless declared.

### Note 14: Retirement Plans

#### 401(k)
Company matching contributions for the three months ended March 31, 2026 and 2025 were $39 thousand and $48 thousand, respectively.

#### Profit Sharing
The Company did not make or approve a profit-sharing contribution for the three months ended March 31, 2026 and 2025.

#### Supplemental Executive Retirement Plan (SERP)
On March 30, 2022, the Company entered into a SERP with Joseph W. Turner, Jr. who at the time was its President and Chief Executive Officer. The total of Mr. Turner's accrued benefit is $600,000. He is entitled to receive $60,000 per year over a ten-year period, payable in equal monthly installments commencing the first day of the month following his separation from service. Mr. Turner's separation from service occurred at the end of July 2024. The Company began making $60,000 per year payments in $5,000 monthly installments in August 2024 according to the terms of the SERP.

### Note 15: Fair Value Measurements

#### Fair Value Measurements Using Fair Value Hierarchy
The Company classifies measurements of fair value within a hierarchy based upon inputs that give the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs.

#### Fair Value of Financial Instruments
Additional information regarding the methods and assumptions used to estimate the fair value of the financial statements can be found in our Annual Report. The following tables show the carrying amounts and estimated fair values of the Company's financial instruments (dollars in thousands):

## **Table of Contents**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | | **Fair Value Measurements at March 31, 2026 using** | **Fair Value Measurements at March 31, 2026 using** | **Fair Value Measurements at March 31, 2026 using** | **Fair Value Measurements at March 31, 2026 using** |
|  | <br>**CarryingValue** | **Quoted Pricesin ActiveMarkets forIdenticalAssets(Level 1)** | **SignificantOtherObservableInputs(Level 2)** | **SignificantUnobservableInputs(Level 3)** | **Fair Value** |
| FINANCIAL ASSETS: |  |  |  |  |  |
| Cash and restricted cash | $12172 | $12172 | $— | $— | $12172 |
| Certificates of deposit | 1537 |  | 1537 |  | 1537 |
| Loans, net | 92758 |  |  | 91785 | 91785 |
| Investment in joint venture | 874 |  |  | 874 | 874 |
| Other investments | 1099 |  |  | 1099 | 1099 |
| Accrued interest receivable | 480 |  |  | 480 | 480 |
| Servicing assets | 155 |  |  | 155 | 155 |
| FINANCIAL LIABILITIES: |  |  |  |  |  |
| Other secured borrowings | 6 |  |  | 6 | 6 |
| Debt certificates payable | 97426 |  |  | 96439 | 96439 |
| Other financial liabilities | 115 |  |  | 115 | 115 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | | **Fair Value Measurements at December 31, 2025 using** | **Fair Value Measurements at December 31, 2025 using** | **Fair Value Measurements at December 31, 2025 using** | **Fair Value Measurements at December 31, 2025 using** |
|  | <br>**CarryingValue** | **Quoted Pricesin ActiveMarkets forIdenticalAssets(Level 1)** | **SignificantOtherObservableInputs(Level 2)** | **SignificantUnobservableInputs(Level 3)** | **Fair Value** |
| FINANCIAL ASSETS: |  |  |  |  |  |
| Cash and restricted cash | $11564 | $11564 | $— | $— | $11564 |
| Certificates of deposit | 1519 |  | 1524 |  | 1524 |
| Loans, net | 90827 |  |  | 89013 | 89013 |
| Investments in joint venture | 875 |  |  | 875 | 875 |
| Other investments | 1098 |  |  | 1098 | 1098 |
| Accrued interest receivable | 439 |  |  | 439 | 439 |
| Servicing assets | 161 |  |  | 161 | 161 |
| FINANCIAL LIABILITIES: |  |  |  |  |  |
| Other secured borrowings | 6 | $— | $— | $6 | $6 |
| Debt certificates payable | 94438 |  |  | 93880 | 93880 |
| Other financial liabilities | 108 |  |  | 108 | 108 |

---

Management uses judgment in estimating the fair value of the Company's financial instruments; however, there are inherent weaknesses in any estimation technique. Therefore, for substantially all financial instruments, the fair value estimates presented herein are not necessarily indicative of the amounts the Company could have realized in a sales transaction at March 31, 2026 and December 31, 2025.

#### Fair Value Measured on a Nonrecurring Basis
The Company measures certain assets at fair value on a nonrecurring basis. On these assets, the Company only makes fair value adjustments in certain circumstances (for example, when there is evidence of impairment).

The following table presents the fair value of assets measured on a nonrecurring basis (dollars in thousands):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Fair Value Measurements Using:** | **Fair Value Measurements Using:** | **Fair Value Measurements Using:** | |
|  | **Quoted Pricesin ActiveMarkets forIdentical Assets (Level 1)** | **SignificantOtherObservableInputs(Level 2)** | **SignificantUnobservableInputs(Level 3)** | <br>**Total** |
| Assets at March 31, 2026: |  |  |  |  |
| Collateral-dependent impaired loans (net of allowance and discount) | $— | $— | $8474 | $8474 |
| Discounted cash flow loans (net of allowance and discount) |  |  | 6935 | 6935 |
| Investment in joint venture |  |  | 874 | 874 |
| Other investments |  |  | 1099 | 1099 |
| Total | $— | $— | $17382 | $17382 |
| Assets at December 31, 2025: |  |  |  |  |
| Collateral-dependent impaired loans (net of allowance and discount) | $— | $— | $8474 | $8474 |
| Discounted cash flow loans (net of allowance and discount) |  |  | 6969 | 6969 |
| Investments in joint venture |  |  | 875 | 875 |
| Other investments |  |  | 1098 | 1098 |
| Total | $— | $— | $17416 | $17717 |

---

#### Impaired Loans
The fair value of collateral-dependent impaired loans with specific allocations of the allowance for expected credit losses is generally based on recent real estate appraisals. Such fair values are obtained using independent appraisals, which the Company may discount due to age or other factors, which the Company considers to be Level 3 inputs. The range of these discounts is shown in the table below.

The Company also estimates the fair value of non-collateral-dependent impaired loans using the discounted cash flow method. This method uses estimates of the future cash flows of the loan and discounts those cash flows using the loan's interest rate.

## **Table of Contents**

#### Foreclosed Assets
At the date of foreclosure, the Company initially records real estate acquired through foreclosure or other proceedings (foreclosed assets) at fair value less estimated costs of disposal, which establishes a new cost. After foreclosure, management periodically performs valuations on foreclosed assets. The company carries foreclosed assets held for sale at the lower of cost or fair value, less estimated costs of disposal. The fair values of real properties initially are determined based on appraisals. In some cases, management adjusts the appraised values for various factors including age of the appraisal, age of comparable properties included in the appraisal, and known changes in the market or in the collateral. The Company makes subsequent valuations of the real properties based either on management estimates or on updated appraisals. If management makes significant adjustments to appraised values based on unobservable inputs, the Company categorizes foreclosed assets under Level 3. Otherwise, if management bases the foreclosed assets' value on recent appraisals and the only adjustments made are for known contractual selling costs, the Company will categorize the foreclosed assets under Level 2.

#### Other Investments
Other investments comprise two indexed annuity insurance contracts. The Company measures fair value on its annuity investments on a nonrecurring basis. On these assets, the Company only makes fair value adjustments when there is evidence of impairment. As the principal amounts and recognized income on the annuities is guaranteed, only impairment of the assets would indicate a degradation in their fair value. The Company concluded that no impairment of the annuity investments existed at March 31, 2026 and December 31, 2025. As such, the Company has determined that the carrying value of its other investments equals its fair value at March 31, 2026 and December 31, 2025.

The table below summarizes the valuation methodologies used to measure the fair value adjustments for Level 3 assets recorded at fair value on a nonrecurring basis (dollars in thousands):

## **Table of Contents**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** |
| **Assets** | **Fair Value(in thousands)** | **ValuationTechniques** | **UnobservableInput** | **Range(Weighted Average)** |
| Collateral dependent loans | $8474 | Discounted appraised value | Selling cost / Estimated market decrease | 10% (10%) |
| Other impaired loans | 6935 | Discounted future cash flows | Discount rate | 4% (4%) |
| Investment in joint venture | 874 | Internal evaluations | Estimated future market value | 0% (0%) |
| Other investments | 1099 | Internal evaluations | Indications of non-performance by insurance companies | 0% (0%) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| **Assets** | **Fair Value(in thousands)** | **ValuationTechniques** | **UnobservableInput** | **Range(Weighted Average)** |
| Impaired loans | $8474 | Discounted appraised value | Selling cost / Estimated market decrease | 10% (10%) |
| Other impaired loans | 6969 | Discounted future cash flows | Discount rate | 4% (4%) |
| Investments in joint venture | 875 | Internal evaluations | Estimated future market value | 0% (0%) |
| Other investments | 1098 | Internal evaluations | Indications of non-performance by insurance companies | 0% (0%) |

---

### Note 16: Income Taxes and State LLC Fees
One of the Company's wholly-owned subsidiaries, Ministry Partners Realty, incurred a tax loss for the years ended December 31, 2025 and 2024, and recorded a provision of $800 per year for the state minimum franchise tax. For the years ended December 31, 2025, and 2024, MP Realty had federal and state net operating loss carryforwards of approximately $433 thousand and $432 thousand, respectively, which begin to expire in the year 2032. Management assessed the realizability of the deferred tax asset and determined that a 100% valuation against the deferred tax asset was appropriate as of March 31, 2026 and December 31, 2025.

### Note 17: Segment Information
The Company has three reportable segments that represent the primary businesses reported in the consolidated financial statements: the finance company (the parent company), the broker-dealer (MP Securities), and the charitable organization (Ministry Partners for Christ).

## **Table of Contents**
Management accounts for intersegment revenues and expenses at amounts that assume the Company entered into the transaction with unrelated third parties at the current market prices at the time of the transaction. Management evaluates the performance of each segment based on net income or loss before provision for income taxes and LLC fees.

Financial information with respect to the reportable segments is as follows (dollars in thousands):

---

| | | |
|:---|:---|:---|
|  | **Three months ended** | **Three months ended** |
|  | **March 31, 2026** | **March 31, 2025** |
| **Revenue from external sources** |  |  |
| &nbsp;&nbsp;Finance Company | $1731 | $2416 |
| &nbsp;&nbsp;Broker-Dealer | 373 | 226 |
| &nbsp;&nbsp;Charitable Organization | 18 | 20 |
| &nbsp;&nbsp;Adjustments / Eliminations | (157) | (47) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $1965 | $2615 |
| **Revenue from internal sources** |  |  |
| &nbsp;&nbsp;Finance Company | $— | $— |
| &nbsp;&nbsp;Broker-Dealer | 142 | 166 |
| &nbsp;&nbsp;Charitable Organization |  |  |
| &nbsp;&nbsp;Adjustments / Eliminations | (142) | (166) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $— | $— |
| **Interest expense** |  |  |
| &nbsp;&nbsp;Finance Company | $1468 | $1455 |
| &nbsp;&nbsp;Broker-Dealer |  |  |
| &nbsp;&nbsp;Charitable Organization |  |  |
| &nbsp;&nbsp;Adjustments / Eliminations | (303) | (310) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $1165 | $1145 |
| **Total non-interest expense and provision for tax** |  |  |
| &nbsp;&nbsp;Finance Company | $772 | $863 |
| &nbsp;&nbsp;Broker-Dealer | 374 | 365 |
| &nbsp;&nbsp;Charitable Organization | 14 | 1 |
| &nbsp;&nbsp;Adjustments / Eliminations | (10) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $1150 | $1229 |
| **Net profit (loss)** |  |  |
| &nbsp;&nbsp;Finance Company | $(550) | $121 |
| &nbsp;&nbsp;Broker-Dealer | 141 | 27 |
| &nbsp;&nbsp;Charitable Organization | 4 | 20 |
| &nbsp;&nbsp;Adjustments / Eliminations | 14 | 96 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $(391) | $264 |

---

---

| | | |
|:---|:---|:---|
|  | **March 31,**<br>**2026** | **December 31,**<br>**2025** |
|  | **(Unaudited)** | **(Audited)** |
| **Total assets** |  |  |
| &nbsp;&nbsp;Finance Company | $101690 | $99080 |
| &nbsp;&nbsp;Broker-Dealer | 3489 | 3350 |
| &nbsp;&nbsp;Charitable Organization | 2201 | 2196 |
| &nbsp;&nbsp;Other Segments | 60 | 59 |
| &nbsp;&nbsp;Adjustments / Eliminations | 2856 | 2927 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $110296 | $107612 |

---

**Note 18: Not-for-profit Subsidiary Activities**

The following represent required disclosures related to the activities of Ministry Partners for Christ, the Company's wholly owned, not-for-profit organization.

At March 31, 2026 and December 31, 2025, the Company had $310 thousand and $322 thousand, respectively in cash held in a checking account available to meet general expenditure needs for the next twelve months. This does not include $1.7 million in cash that carries permanent donor restrictions. There were no board-designated funds as of March 31, 2026 and December 31, 2025. Management believes the cash available for use by MPC is sufficient to cover its expenses.

At March 31, 2026, MPC had $2.2 million in net assets, $1.7 million of which is permanently restricted by donors. MPC earned interest income of $19 thousand and $20 thousand, respectively, during the three months ended March 31, 2026 and 2025. At March 31, 2026 and December 31, 2025, respectively, MPC had $269 thousand and $274 thousand in unrestricted net assets.

A breakdown of expenses for MPC for the three-month periods ended March 31, 2026 and 2025, is as follows:

---

| | | |
|:---|:---|:---|
|  | **Three months ended** | **Three months ended** |
|  | **March 31, 2026** | **March 31, 2025** |
| **Expenses** |  |  |
| &nbsp;&nbsp;Charitable grants | $10 | $— |
| &nbsp;&nbsp;General and administrative expenses | 4 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $14 | $1 |

---

The change in net assets for MPC for the three-month periods ended March 31, 2026 and 2025 is as follows:

---

| | | |
|:---|:---|:---|
|  | **Three months ended** | **Three months ended** |
|  | **March 31, 2026** | **March 31, 2025** |
| &nbsp;&nbsp;Change in net assets | $4 | $20 |

---

### Item 2: Management's Discussion and Analysis of Financial Condition and Results of Operations
The following discussion compares the results of operations for the three-month periods ended March 31, 2026 and 2025. It should be read in conjunction with our December 31, 2025, Annual Report on Form 10-K and the accompanying unaudited financial statements and Notes set forth in this report.

**SAFE HARBOR CAUTIONARY STATEMENT**

This Form 10-Q contains forward-looking statements regarding Ministry Partners Investment Company, LLC and our wholly owned subsidiaries, MPF, MP Realty, MPC, and MP Securities, including, without limitation, statements regarding our expectations with respect to revenue, credit losses, levels of non-performing assets, expenses, earnings, and other measures of financial performance. Statements that are not statements of historical facts may be deemed to be forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. The words "anticipate", "believe", "estimate", "expect", "plan", "intend", "should", "seek", "will", and similar expressions are intended to identify these forward-looking statements but are not the exclusive means of identifying them. These forward-looking statements reflect the current views of our management.

These forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties that are subject to change based upon numerous factors (many of which are beyond our control). Such risks, uncertainties, and other factors that could cause our financial performance to differ materially from the expectations expressed in such forward-looking statements include, but are not limited to, the risks set forth in our [Annual Report on Form 10-K for the year ended December 31, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/944130/000094413025000007/mpic-20241231x10k.htm).

As used in this quarterly report, the terms "we", "us", "our" or the "Company" means Ministry Partners Investment Company, LLC and our wholly owned subsidiaries, MPF, MP Realty, MP Securities, and MPC.

## **Table of Contents**

#### Strategic Objectives and Financial Results
**2026 Results to Date**

For the three months ended March 31, 2026, the Company reported a net loss of $391 thousand. The Company continues to focus on improving its core profitability through efforts to patiently manage its impaired assets, reduce operating expenses, and increase its loan interest income and net interest income. While the Company's interest income declined as compared to the first quarter of 2025, this is due almost entirely to the receipt of a $670 thousand interest payment from a borrower of an impaired loan in March 2025. After accounting for this receipt, interest income from loans only decreased by $11 thousand from 2025 for the quarter ended March 31, 2026. Interest income from interest-bearing accounts and other income also remained relatively level compared to the prior year, declining by $6 thousand and $1 thousand, respectively. Broker-dealer commissions and fees, however, increased by $38 thousand as we continue to focus on adding new clients and improving our broker-dealer services.

As a result of the conversions of our core processing and information technology systems in the latter half of 2024 and the first quarter of 2025, the Company realized $129 thousand in reductions to our office operations expenses for the quarter ended March 31, 2026. Our legal and accounting fees also declined from the prior year as we have terminated a consulting arrangement that provided certain due diligence services in the first quarter of 2025. For the first quarter of 2026, salary and benefits expenses increased resulting from staff raises and the hiring of our Chief Financial Officer, Daniel Cerio.

When the Company commenced its credit facility pay-off strategy in 2021, our yearly operating expenses were approximately $5.7 million. By implementing our operating expense reduction plan, the Company transitioned to a new office location with significantly lower rent, improved our loan servicing, reduced our staffing costs and were able to reduce our non-interest expenses for the year ended December 31, 2024 to $4.2 million and then to $4.1 million for the year ended December 31, 2025. The Company anticipates that our non-interest expenses will continue to decrease in 2026 as we have fully implemented these cost-effective technology solutions.

Our ongoing strategy focuses on growing our balance sheet, making profitable loans and improving our net income. Our loans receivable totaled $92.8 million at March 31, 2026 as compared to $90.8 million at December 31, 2025. The Company was able to originate or purchase $3.8 million in loans during the first quarter of 2026. Through the remainder of 2026, the Company intends to expand its loan investments as part of our core process conversion. The Company is also evaluating strategies that will help it improve our net

## **Table of Contents**
interest margin. Company management expects that the yield on our portfolio will increase in future years as loans originated in 2020 and 2021 at 5% to 6% rates come due for their five-year rate resets that will push them into the 7% to 8% range. The weighted average interest rate in our loan portfolio was 7.00% at March 31, 2026, as compared to 6.97% at December 31, 2025 and 6.88% at December 31, 2024.

We are also evaluating the investment products we offer to our investors in an effort to make our investment rates more attractive, as well as structuring a variety of short- and intermediate-term investment products to better serve our clients and investors and improve our net interest margin. We have also hired a new sales representative for our adviser team at MP Securities that will assist us in bringing in new clients and investors for our broker dealer and advisory business. With an improved core processing system for our loans and focus on increasing the sale of our investor notes, we intend to focus on growing our balance sheet, improving our core profitability, and increasing the net interest income and non-interest income we earn from our advisory business and investor notes selling efforts.

**Strategic Objectives for the Remainder of 2026**

During the remainder of 2026, we intend to continue to focus on the following objectives:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) expanding the distribution channels for our debt securities offerings with strategic partners that share the Company's desire to enhance Christian stewardship through Biblically responsible investments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) growing non-interest income generated by our broker-dealer services and loan servicing and investment-related products;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) creating new investment products to expand our client base of investors and faith-based strategic partners;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) serving the needs of our credit union and CUSO relationships through revenue producing strategic partnerships;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) expanding revenue through the sale of loan participation interests;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) managing the size and cost structure of our business to match our operating environment and capital funding efforts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) growing the size of our balance sheet by originating profitable new ministry and commercial loans as we seek to increase revenue from our loan investments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) strengthening our loan portfolio through aggressive and proactive efforts to resolve problems in our non-performing assets; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) maintaining adequate liquidity levels.

### Financial Condition

#### Comparison of Financial Condition on March 31, 2026 and December 31, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  |  | **Comparison** | **Comparison** |
|  | **2026** | **2025** | **$ Difference** | **% Difference** |
|  | **(Unaudited)** | **(Audited)** |  |  |
|  | (dollars in thousands) | (dollars in thousands) |  |  |
| **Assets:** |  |  |  |  |
| Cash | $10413 | $9793 | $620 | 6% |
| Restricted cash | 1759 | 1771 | (12) | (1%) |
| Certificates of deposit | 1537 | 1519 | 18 | 1% |
| Loans receivable, net of allowance for expected credit losses of $1,163 and $1,122 as of March 31, 2026 and December 31, 2025, respectively | 92758 | 90827 | 1931 | 2% |
| Accrued interest receivable | 480 | 439 | 41 | 9% |
| Investment in joint venture | 874 | 875 | (1) | (0%) |
| Other investments | 1099 | 1098 | 1 | 0% |
| Property and equipment, net | 71 | 64 | 7 | 11% |
| Servicing assets | 155 | 161 | (6) | (4%) |
| Other assets | 1150 | 1065 | 85 | 8% |
| Total assets | $110296 | $107612 | $2684 | 2% |
| **Liabilities and members' equity** |  |  |  |  |
| **Liabilities:** |  |  |  |  |
| Other secured borrowings | 6 | 6 |  | 100% |
| Debt certificates payable, net of debt issuance costs of $81 and $72 as of March 31, 2026 and December 31, 2025, respectively | 97426 | 94438 | 2988 | 3% |
| Other liabilities  | 1876 | 1675 | 201 | 12% |
| Total liabilities  | 99308 | 96119 | 3189 | 3% |
| **Members' Equity:** |  |  |  |  |
| Series A preferred units | 11715 | 11715 |  | —% |
| Class A common units  | 1509 | 1509 |  | —% |
| Net assets of Ministry Partners for Christ, with donor restrictions | 1700 | 1700 |  | —% |
| Accumulated deficit | (3936) | (3431) | (505) | 15% |
| **Total members' equity**  | 10988 | 11493 | (505) | (4%) |
| **Total liabilities and members' equity** | $110296 | $107612 | $2684 | 2% |

---

#### Cash, Loans, and Borrowings
As discussed previously, our strategy involves growing our balance sheet and our loan portfolio to increase our net interest income. We plan to rely on the sale of our debt certificates to fund the growth of our on-book loan portfolio, and from time to time may supplement that growth by

## **Table of Contents**
utilizing our lines of credit. For the three months ended March 31, 2026, assets increased by 2% due to an increase in loans receivable related to loan originations and purchases.

Our loans receivable portfolio increased by $1.9 million due to $3.1 million in loan originations and $706 thousand in loan participation repurchases. This was offset by $1.9 million in loan principal payments, which comprises both regular loan payments and loan payoffs. This increase in loans receivable was funded by $3.0 million in net sales of debt certificates. Some of the cash received from debt certificate sales was retained in cash to increase our liquidity. Unrestricted cash balances increased by $620 thousand.

#### Allowance for Expected Credit Losses
The allowance increased by $42 thousand. This occurred primarily due to an increase in outstanding loan principal balances.

#### Debt Certificates Payable
Our debt certificates payable comprise debt securities sold under publicly registered security offerings as well as promissory notes sold in private placement offerings.

For the three months ended March 31, 2026, net debt certificates payable increased by $3 million. The Company sold $11.9 million in debt certificates in the first quarter of 2026 and used the cash to fund loan purchases and originations.

#### Accrued Interest Payable
As part of the Company's conversion to a new core system, we changed the way we pay interest on our debt certificates. Prior to conversion, accrued interest on fixed interest debt certificates for a given month was accrued at month end and paid on the first day of the next month. In the new system, all accrued interest on debt certificates is now paid on the last day of the month, either through cash disbursement or addition to the certificate's principal balance, causing the accrued interest balance to be zero at quarter end.

#### Members' Equity
Our total members' equity decreased by 4.4% to $11.0 million for the three months ended March 31, 2026, which resulted in a capital to asset ratio of 10.0%. The decrease in members' equity was attributable to a net loss of $391 thousand and dividends to members of $115 thousand.

## **Table of Contents**

### Liquidity and Capital Resources
**Liquidity Management**

Our management team regularly prepares cash flow forecasts that we rely upon to ensure that we have sufficient liquidity to conduct our business. While we believe that these expected cash inflows and outflows are reasonable, we can give no assurances that our forecasts or assumptions will prove to be correct. Management believes that we hold adequate sources of liquidity to meet our liquidity needs and have the means to generate more liquidity if necessary. As March 31, 2026, our liquidity ratio was 14%.

We use multiple tools to manage our liquidity. We have a $5 million line of credit of which all $5 million was available for cash management as of March 31, 2026. We also have the ability to sell participation interests in our loan portfolio. Primarily, we fund our liquidity by selling corporate debt certificates. Additional information about our debt securities and credit facilities is presented below.

#### Public and Privately offered Debt Securities
The table below presents a schedule of our fixed series debt certificates maturing during the next year as compared with the fixed series debt certificates maturing after one year. Also included separately are the variable debt certificates which are redeemable upon demand (dollars in thousands):

---

| | |
|:---|:---|
| Variable Series Debt Certificates (redeemable debt certificates) | $3814 |
| Fixed Series Debt Certificates maturing in the next 12 months | 50688 |
| Fixed Series Debt Certificates maturing after 12 months | 43005 |
| Total | $97507 |
| Debt issuance costs | 81 |
| Debt Certificates, net of debt issuance costs | $97426 |

---

Historically, we have been successful in generating reinvestments by our debt certificate holders when the notes they hold mature. Our note renewal rate remains stable, and our advisory team continues to expand their clientele.

The table below shows the renewal rates of our maturing notes over the last two years ended December 31:

---

| | |
|:---|:---|
| 2025 | 76% |
| 2024 | 75% |

---

## **Table of Contents**
The renewal rates for the periods ended March 31, 2026, as compared to March 31, 2025, are as follows:

● Three-month period ended March 31, 2026: 61%

● Three-month period ended March 31, 2025: 60%

#### Credit Facilities and Other Borrowings
The table below is a summary of the Company's outstanding debt payable as of March 31, 2026 (dollars in thousands):

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Nature ofBorrowing** | **Interest Rate** | **InterestRateType** | **AmountOutstanding** | **Amount Available to Borrow** | **MaturityDate** | **Amount ofLoanCollateralPledged** | **Other AssetsPledged\*** |
| ACCU LOC | 9.25% | Variable |  | $5000 | 11/28/2026 | $6004 | $— |
| ACCU Secured | Various | Fixed | 6 |  | Various |  | 6 |

---

\*Represents cash or certificates of deposit

In November 2025 we reached an agreement to renew the ACCU LOC for 12 months with minor modifications in terms. The modified terms include a decreased spread from 1.00% over prime to 0.50% over prime, and an increase of a requirement to maintain an average minimum balance on deposit at the credit union from $1.0 million to $2.5 million.

#### Debt Covenants
Under our credit facility agreements and our debt certificates documents, we are obligated to comply with certain affirmative and negative covenants. Failure to comply with our covenants could require all interest and principal to become due. As of March 31, 2026, we are in compliance with our covenants on our debt certificates payable and the ACCU LOC.

● For additional information regarding our debt certificates payable, refer to "Note 11. Debt Certificates Payable" to Part I "Financial Information" of this Report.

● For additional information on our credit facilities, refer to "Note 10. Credit Facilities" to Part I "Financial Information" of this Report.

## **Table of Contents**

### Results of Operations: March 31, 2026
The analysis below compares the Company's results of operations for the three-month periods ended March 31, 2026 and 2025.

#### Net Interest Income and Net Interest Margin
Historically, our earnings have primarily depended upon our net interest income.

● **Net interest income** is the difference between the interest income we receive from our loans and cash on deposit ("interest-earning assets") and the interest paid on our debt certificates and borrowings.

● **Net interest margin** is net interest income expressed as a percentage of average total interest-earning assets.

The following tables provide average outstanding balance information for each major category of interest earnings assets and interest-bearing liabilities, the interest income or interest expense, and the average yield or rate for the periods indicated:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Average Balances and Rates/Yields** | **Average Balances and Rates/Yields** | **Average Balances and Rates/Yields** | **Average Balances and Rates/Yields** | **Average Balances and Rates/Yields** | **Average Balances and Rates/Yields** |
|  | **For the Three Months Ended March 31,** | **For the Three Months Ended March 31,** | **For the Three Months Ended March 31,** | **For the Three Months Ended March 31,** | **For the Three Months Ended March 31,** | **For the Three Months Ended March 31,** |
|  | **(Dollars in Thousands)** | **(Dollars in Thousands)** | **(Dollars in Thousands)** | **(Dollars in Thousands)** | **(Dollars in Thousands)** | **(Dollars in Thousands)** |
|  | **2026** | **2026** | **2026** | **2025** | **2025** | **2025** |
|  | **AverageBalance** | **InterestIncome/Expense** | **AverageYield/Rate** | **AverageBalance** | **InterestIncome/Expense** | **AverageYield/Rate** |
| **Assets:** |  |  |  |  |  |  |
| Interest-earning accounts with other financial institutions | $12970 | $105 | 3.28% | $11376 | $111 | 3.96% |
| Interest-earning loans [1] | 91806 | 1607 | 7.10% | 90456 | 2288 | 10.26% |
| **Total interest-earning assets** | 104776 | 1712 | 6.63% | 101832 | 2399 | 9.55% |
| Non-interest-earning assets | 3801 |  | —% | 6229 |  | —% |
| **Total Assets** | $108577 | $1712 | 6.39% | $108061 | $2399 | 9.00% |
| **Liabilities:** |  |  |  |  |  |  |
| Debt certificates payable gross of debt issuance costs | 95633 | 1138 | 4.83% | 94473 | 1124 | 4.83% |
| Other debt | 6 |  | —% | 6 |  | —% |
| **Total interest-bearing liabilities** | 95639 | 1138 | 4.83% | 94479 | 1124 | 4.82% |
| Debt issuance cost |  | 27 |  |  | 21 |  |
| **Total interest-bearing liabilities net of debt issuance cost** | $95639 | $1165 | 4.94% | $94479 | $1145 | 4.91% |
| Net interest income |  | $547 |  |  | $1254 |  |
| Net interest margin |  |  | 2.12% |  |  | 4.99% |

---

[1] Loans are net of deferred fees and before the allowance for expected credit losses. Non-accrual loans are considered non-interest earning assets for this analysis.

## **Table of Contents**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Rate/Volume Analysis of Net Interest Income** | **Rate/Volume Analysis of Net Interest Income** | **Rate/Volume Analysis of Net Interest Income** | **Rate/Volume Analysis of Net Interest Income** | **Rate/Volume Analysis of Net Interest Income** |
|  | **Three Months Ended March 31, 2026 vs. 2025** | **Three Months Ended March 31, 2026 vs. 2025** | **Three Months Ended March 31, 2026 vs. 2025** | **Three Months Ended March 31, 2026 vs. 2025** |
|  | **Increase (Decrease) Due to Change in** | **Increase (Decrease) Due to Change in** | **Increase (Decrease) Due to Change in** | **Increase (Decrease) Due to Change in** |
|  | **Volume** | **Rate** | **Recovery** | **Total** |
|  | **(Dollars in Thousands)** | **(Dollars in Thousands)** | **(Dollars in Thousands)** | **(Dollars in Thousands)** |
| **Increase in Interest Income:** |  |  |  |  |
| Interest-earning accounts with other financial institutions | $14 | $(20) | $— | $(6) |
| Interest-earning loans | 34 | (715) |  | (681) |
| Total interest-earning assets | 48 | (735) |  | (687) |
| **Increase (Decrease) in Interest Expense:** |  |  |  |  |
| Debt certificates payable gross of debt issuance costs | 14 |  |  | 14 |
| Other debt |  |  |  |  |
| Debt issuance cost |  | 6 |  | 6 |
| Total interest-bearing liabilities | 14 | 6 |  | 20 |
| Change in net interest income | $34 | $(741) | $— | $(707) |

---

Total interest income for the three months ended March 31, 2026, compared to the three months ended March 31, 2025, decreased primarily due to the one-time $671 thousand interest payment received in the first quarter of 2025. Without this payment, interest income would have decreased by only $17 thousand. The average yield without this payment would have been 6.89% in 2025, as opposed to 9.55% as the table shows. The average yield on interest earning assets for the first quarter of 2026 was 6.63%. The decrease in rates offered on interest-earning accounts with other financial institutions accounts for the majority of this decrease as the government has lowered interest rates over the last year.

For the three months ended March 31, 2026, total interest expense increased due to the higher balances in our debt certificates payable, as our debt certificate sales increased during the first quarter of 2026.

Net interest income decreased by $707 thousand for the three months ended March 31, 2026, compared to the three months ended March 31, 2025, due to the factors described above. For the three months ended March 31, 2026, compared to the three months ended March 31, 2025, net interest margin decreased by 288 basis points. Without the one-time interest payment, net interest income would have decreased $37 thousand and net interest margin would have decreased by 21 basis points.

#### Provision (credit) for expected credit losses and non-interest income and expense

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three months ended** | **Three months ended** |  |  |
|  | **March 31,** | **March 31,** | **Comparison** | **Comparison** |
|  | (in thousands) | (in thousands) | | |
|  | **2026** | **2025** | <br>**$ Diff** | <br>**% Diff** |
| Net interest income | $547 | $1254 | $(707) | (56%) |
| Provision (credit) for expected credit losses | 41 | (23) | 64 | 278% |
| Net interest income after provision (credit) for expected credit losses | 506 | 1277 | (771) | (60%) |
| Total non-interest income | 253 | 216 | 37 | 17% |
| Total non-interest expenses  | 1145 | 1224 | (79) | (6%) |
| Loss before provision for income taxes | (386) | 269 | (655) | (243%) |
| Provision for income taxes and state LLC fees | 5 | 5 |  | —% |
| Net income (loss) | $(391) | $264 | $(655) | (248%) |

---

Net interest income after provision for expected credit losses decreased by $771 thousand for the quarter ended March 31, 2026 over the quarter ended March 31, 2025. This decrease was due to the one-time interest payment described above as well a provision for expected credit losses of $41 thousand recorded in 2026 for increased loan balances.

Non-interest income, which often increases or decreases over the course of a quarter or a year related to one-time occurrences, increased during the first quarter of 2026 as compared to the first quarter of 2025. This is primarily related to an increase in broker-dealer revenue as commissions on annuity sales and advisory fees increased during the quarter.

The decrease in total non-interest expense for the three months ended March 31, 2026 compared to the three months ended March 31, 2025, as shown in the table above, was due to decreases in office operations expenses and legal and accounting fees. The Company's conversion to a new IT vendor and to a new core system was mostly complete by the beginning of the second quarter in 2025, and the cost savings are now being realized. These decreases in expenses were offset by an increase in salary expense related to staff raises as well as the hire of our Chief Financial Officer, Daniel Cerio.

## **Table of Contents**

### Item 3: Quantitative and Qualitative Disclosures about Market Risk
We are a smaller reporting company as defined by Rule 12b-2 of the Securities Act of 1934 and are not required to provide the information under this item.

### Item 4: Controls and Procedures

### Evaluation of Disclosure Controls and Procedures
Our management, including our Vice President of Finance, supervised and participated in an evaluation of our disclosure controls and procedures as of March 31, 2026. After evaluating the effectiveness of our disclosure controls and procedures (as defined in Exchange Act Rules 13a - 15(e) and 15d - 15(e)) as of the end of the period covered by this quarterly report, our Principal Accounting Officer has concluded that as of the evaluation date, our disclosure controls and procedures were adequate and effective to ensure that material information relating to the Company would be made known to them by others within the Company, particularly during the period in which this quarterly report was being prepared.

Disclosure controls and procedures are designed to ensure that information required to be disclosed by us in the reports filed or submitted under the Exchange Act is recorded, processed, summarized, and reported, within the time periods specified in the Securities and Exchange Commission's rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information we are required to disclose in the reports filed under the Exchange Act is accumulated and communicated to our management, including the President and Principal Accounting Officer, as appropriate to allow timely decisions regarding required disclosure.

### Changes in Internal Controls
The Company made no changes in internal controls during the three-month period ended March 31, 2026 and 2025.

## **Table of Contents**
**PART II - OTHER INFORMATION**

**Item 1: Legal Proceedings**

Given the nature of our operations, we may from time to time have an interest in, or be involved in, litigation arising out of our business activities. We consider litigation related to our operations to be routine to the conduct of our business. As of March 31, 2026, we are not involved in any litigation matters that could have a material adverse effect on our financial position, results of operations, or cash flows.

### Item 1A. Risk Factors
We are a smaller reporting company as defined by Rule 12b-2 of the Securities Act of 1934 and are not required to provide the information under this item.

### Item 2: Unregistered Sales of Equity Securities and Use of Proceeds:
None

### Item 3: Defaults upon Senior Securities:
None

### Item 4: Mine Safety Disclosure:
None

### Item 5: Other Information:
None

## **Table of Contents**

### Item 6. Exhibits

---

| | |
|:---|:---|
| **Exhibit No.** | **Description of Exhibit** |

---

---

| | |
|:---|:---|
| [**31.1**](mpic-20260331xex31d1.htm) | Certification of Chief Executive Officer pursuant to Rule 13a 14(a) or Rule 15(d) 14(a) (\*\*) |

---

---

| | |
|:---|:---|
| [**31.2**](mpic-20260331xex31d2.htm) | Certification of Principal Accounting Officer pursuant to Rule 13a 14(a) or Rule 15(d) 14(a) (\*\*) |

---

---

| | |
|:---|:---|
| [**32.1**](mpic-20260331xex32d1.htm) | Certification of President and Chief Executive Officer pursuant to 18 U.S.C. §1350 as adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002 (\*\*) |

---

---

| | |
|:---|:---|
| [**32.2**](mpic-20260331xex32d2.htm) | Certification of Principal Accounting Officer pursuant to 18 U.S.C. §1350 as adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002 (\*\*) |

---

---

| | |
|:---|:---|
| **101\*** | The following information from Ministry Partners Investment Company, LLC's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025, formatted in XBRL (eXtensible Business Reporting Language):  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)Consolidated Statements of Income for the three-month periods ended March 31, 2026 and 2025;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)Consolidated Balance Sheets as of March 31, 2026, and December 31, 2025;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)Consolidated Statements of Cash Flows for the three-month periods ended March 31, 2026 and 2025; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)Notes to Consolidated Financial Statements.

\*Pursuant to Rule 406T of Regulation S-T, these interactive data files are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933 or Section 18 of the Securities Exchange Act of 1934 and otherwise are not subject to liability under those sections.

\*\*Filed herewith

## **Table of Contents**
**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Dated: May 15, 2026

---

| | | |
|:---|:---|:---|
|  | MINISTRY PARTNERS INVESTMENT COMPANY, LLC | MINISTRY PARTNERS INVESTMENT COMPANY, LLC |
| (Registrant) | By: | */s/ Darren M. Thompson* |
|  | Darren M. Thompson, | Darren M. Thompson, |
|  | Chief Executive Officer  | Chief Executive Officer  |

---

## Exhibit 31.1

**EXHIBIT 31.1**

CERTIFICATION OF CHIEF EXECUTIVE OFFICER

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY

ACT OF 2002

I, Darren M. Thompson, certify that:

1.&nbsp;&nbsp;&nbsp;&nbsp;I have reviewed this Quarterly Report on Form 10-Q of Ministry Partners Investment Company, LLC;

2.&nbsp;&nbsp;&nbsp;&nbsp;Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.&nbsp;&nbsp;&nbsp;&nbsp;Based on my knowledge, the financial statements and other financial information included in this report fairly present in all material respects the financial condition, results of operations and cash flows of the issuer as of, and for, the periods presented in this report;

4.&nbsp;&nbsp;&nbsp;&nbsp;The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and we have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially effect, the registrant's internal control over financial reporting; and

5.&nbsp;&nbsp;&nbsp;&nbsp;The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| | | |
|:---|:---|:---|
| Date: May 15, 2026 | By: | */s/ Darren M. Thompson* |
|  |  | Darren M. Thompson |
|  |  | Chief Executive Officer |

---

------

## Exhibit 31.2

**EXHIBIT 31.2**

CERTIFICATION OF ACTING PRINCIPAL FINANCIAL

AND ACCOUNTING OFFICER PURSUANT TO SECTION 302

OF THE SARBANES-OXLEY ACT OF 2002

I, Daniel Cerio, certify that:

1.&nbsp;&nbsp;&nbsp;&nbsp;I have reviewed this Quarterly Report on Form 10-Q of Ministry Partners Investment Company, LLC;

2.&nbsp;&nbsp;&nbsp;&nbsp;Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.&nbsp;&nbsp;&nbsp;&nbsp;Based on my knowledge, the financial statements and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the issuer as of, and for, the periods presented in this report;

4.&nbsp;&nbsp;&nbsp;&nbsp;The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and we have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially effect, the registrant's internal control over financial reporting; and

5.&nbsp;&nbsp;&nbsp;&nbsp;The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| | | |
|:---|:---|:---|
| Date: May 15, 2026 | By: | */s/ Daniel Cerio* |
|  |  | Daniel Cerio |
|  |  | Principal Accounting Officer |

---

------

## Exhibit 32.1

**EXHIBIT 32.1**

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO SECTION 906

OF THE SARBANES-OXLEY ACT OF 2002

Each of the undersigned hereby certifies, pursuant to 18 U.S.C. Section 1350, in his capacity as Chief Executive Officer of Ministry Partners Investment Company, LLC, (the "**Company**") that, to his knowledge, this Quarterly Report on Form 10-Q for the period ended March 31, 2026 (the "**Report**") fully complies with the requirements of Section 13(a) of the Securities Exchange Act of 1934 and that the information contained in the Report fairly presents, in all material respects, the financial condition of the Company at the end of such period and the results of operations of the Company for such period.

---

| | | |
|:---|:---|:---|
| ugus<br>|  |  |
| Date: May 15, 2026 | By: | */s/ Darren M. Thompson* |
|  |  | Darren M. Thompson |
|  |  | Chief Executive Officer |

---

------

## Exhibit 32.2

**EXHIBIT 32.2**

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO SECTION 906

OF THE SARBANES-OXLEY ACT OF 2002

Each of the undersigned hereby certifies, pursuant to 18 U.S.C. Section 1350, in his capacity as Principal Accounting Officer of Ministry Partners Investment Company, LLC, (the "**Company**") that, to his knowledge, this Quarterly Report on Form 10-Q for the period ended March 31, 2026 (the "**Report**") fully complies with the requirements of Section 13(a) of the Securities Exchange Act of 1934 and that the information contained in the Report fairly presents, in all material respects, the financial condition of the Company at the end of such period and the results of operations of the Company for such period.

---

| | | |
|:---|:---|:---|
| Date: May 15, 2026 | By: | */s/ Daniel Cerio* |
|  |  | Daniel Cerio, |
|  |  | Principal Accounting Officer |

---

------