MFBI — what changed in the latest 10-K

Text added vs the prior filing · source: 10-K · 2026-06-25

• generally limit the loan-to-value ratios of our commercial mortgage loans to 75% of the purchase price or appraised value, whichever is lower.

• At March 31, 2026, our two largest commercial real estate loans each had a credit exposure of $2.0 million. One of the loans had an outstanding balance of $2.0 million as of March 31, 2026, while no funds had been disbursed from the other commercial real estate loan as of the same date. The loan wit…

• Commercial and Industrial Loans. At March 31, 2026, commercial loans totaled $6.3 million, or 5.7% of total loans. Commercial and industrial loans include both term loans and lines of credit. Term loans generally have fixed or variable rates and have terms of up to six years. Lines of credit are gen…

• date. We review lines of credit annually. These loans are generally secured by business assets, such as equipment, inventory and accounts receivable. Depending on the collateral used to secure the loans, commercial and industrial loans are made in amounts of up to 100% of the value of the collateral…

• As discussed under “– Lending Activities – Commercial and Industrial Loans,” we purchase loans from Bankers Healthcare Group, LLC. We occasionally purchase participation interests in loans originated by other financial institutions acting as the lead lender. At March 31, 2026, our two largest purcha…

Text removed vs the prior filing · source: 10-K · 2025-07-03

• At March 31, 2025, our largest commercial real estate loan had an outstanding balance of $1.9 million and is secured by retail property located in Tipp City, Ohio. At March 31, 2025, this loan was performing according to its original terms.

• Commercial and Industrial Loans. At March 31, 2025, commercial loans totaled $4.3 million, or 3.9% of total loans. Commercial and industrial loans include both term loans and lines of credit. Term loans generally have fixed or variable rates and have terms of up to six years. Lines of credit are gen…

• As discussed under “– Lending Activities – Commercial and Industrial Loans,” we purchase loans from Bankers Healthcare Group, LLC. We occasionally purchase participation interests loans originated by other financial

• institutions acting as the lead lender. At March 31, 2025, our largest purchased participation interest had an outstanding balance of $1.4 million and is secured by a hotel property located in Columbus, Ohio. At March 31, 2025, it was performing according to its original terms.

• We generally do not sell the one- to four-family mortgage loans we originate, but retain them in our loan portfolio and do not sell the servicing rights. Historically, we have not sold loans we have originated. We are currently developing the infrastructure necessary to sell one- to four-family resi…

Text added vs the prior filing · source: 10-K · 2026-06-25

• The following tables set forth selected historical financial and other data of the Company at the dates and for the years indicated. The data at and for the years ended March 31, 2026 and 2025 is derived, in part, from, and should be read together with, the audited consolidated financial statements …

• Net interest income after (recovery of) provision for credit losses

• Total Assets. Total assets were $142.4 million at March 31, 2026, a decrease of $1.9 million, or 1.3%, from $144.3 at March 31, 2025. The decrease was primarily comprised of a decrease in available for sale investment securities of $4.7 million and a decrease in cash and cash equivalents of $623,000…

• Investment Securities. Investment securities available for sale decreased $4.7 million, or 20.3%, to $18.4 million at March 31, 2026, from $23.1 million at March 31, 2025. The decrease was primarily attributable to the sale of $4.2 million of securities during the fiscal year ended March 31, 2026. T…

• Net Loans. Net loans increased $3.5 million, or 3.3%, to $110.5 million at March 31, 2026 from $107.0 million at March 31, 2025. During the fiscal year ended March 31, 2026, loan originations totaled $24.8 million, comprised of $7.3 million of loans secured by one- to four-family residential real es…

Text removed vs the prior filing · source: 10-K · 2025-07-03

• Total Assets. Total assets were $144.3 million at March 31, 2025, a decrease of $11.0 million, or 7.1%, from $155.3 at March 31, 2024. The decrease was primarily comprised of a decrease in cash and cash equivalents of $8.5 million and a decrease in available for sale investment securities of $2.0 mi…

• Cash and Cash Equivalents. Cash and cash equivalents decreased $8.5 million, or 80.4%, to $2.1 million at March 31, 2025 from $10.6 million at March 31, 2024. The decrease was due primarily to a decrease in interest-bearing deposits held in other financial institutions of $7.1 million, or 94.6%, fro…

• Investment Securities. Investment securities available for sale decreased $2.1 million, or 8.1%, to $23.1 million at March 31, 2025, from $25.2 million at March 31, 2024. The decrease was primarily attributable to calls, maturities and repayments of securities totaling $2.3 million during the fiscal…

• Net Loans. Net loans decreased $873,000 or 0.8%, to $107.0 million at March 31, 2025 from $107.9 million at March 31, 2024. During the fiscal year ended March 31, 2025, loan originations totaled $18.6 million, comprised primarily of $7.6 million of loans secured by one- to four-family residential re…

• The decrease in the Company’s loan portfolio has been due to an intentional slowdown of marketing efforts for new loans and strong competition for one- to four-family residential mortgage loans and commercial loans in our market area.