NEW INDEPENDENT BANCSHARES, INC. AND SUBSIDIARY Notes to the Consolidated Financial Statements
NOTE 19. FAIR VALUE MEASUREMENTS( Continued)
Level 3- Financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which determination of fair value requires significant management judgment or estimation.
Assets and Liabilities Measured at Fair Value on a Recurring Basis
December 31, 2025 Available-for-Sale Securities U. S Government Agency Bonds Collateralized Mortgage Obligations Mortgage-Backed Securities Municipal Taxable Securities SBAP Certificates Total
$
Fair Value
2,644,980 45,173,278 38,018,043
927,126 24,957,381
$ 111,720,808
Quoted Prices
$
$
( Level 1)
------
Significant
Observable
$
Other
Inputs( Level 2)
2,644,980 45,173,278 38,018,043
927,126 24,957,381
$ 111,720,808
Significant Unobservable Inputs( Level 3)
$-----
$-
December 31, 2024 Available-for-Sale Securities U. S Government Agency Bonds Collateralized Mortgage Obligations Mortgage-Backed Securities US Treasury Notes SBAP Certificates Total
$
2,458,210 38,769,307
$- $ 2,458,210 $- 38,769,307-
25,595,313- 25,595,313- 999,890
17,291,750-
-
- 999,890 17,291,750-
$ 85,114,470 $- $ 85,114,470 $-
-
Assets Measured at Fair Value on a Nonrecurring Basis |
Quoted Prices |
Fair Value |
( Level 1) |
December 31, 2025 |
|
|
|
Individually Evaluated Loans |
$
2,939,496
|
$ |
- |
Significant Other Observable Inputs( Level 2)
Significant Unobservable Inputs( Level 3)
$- $ 2,939,496
December 31, 2024 Individually Evaluated Loans |
$ 2,825,642 $- $- |
$ |
2,825,642 |
For individually evaluated loans, market value is based on the value of the collateral securing the loans and is classified at a level 3 in the fair value hierarchy. Collateral may be real estate and / or business assets including equipment, inventory, and / or accounts receivable. The value of real estate is determined based on appraisal by qualified licensed appraisers hired by the Company. The value of business equipment, inventory, and accounts receivable collateral is based on the net book value on the business ' financial statements and, if necessary, discounted based on management ' s review and analysis.
2025 NWSB Annual Report | 53