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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-K

☒

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

For the fiscal year-ended December 31, ~~2024~~2025

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

For the transition period from _____________to________________

Commission file No. 000-19028

MUNCY COLUMBIA FINANCIAL CORPORATION

(Exact name of registrant as specified in its charter)

pennsylvania	23-2254643
Pennsylvania	23-2254643
(State or other jurisdiction of	(I.R.S. Employer
incorporation or organization)	Identification Number)
232 East Street, Bloomsburg, Pennsylvania	17815
1199 Lightstreet Road, Bloomsburg, Pennsylvania	17815
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (570) 784-4400

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class Trading Symbol Name of Each ~~Exchangeon~~Exchange on Which Registered None None None

Securities registered pursuant to section 12(g) of the Act: Common Stock, par value $1.25 per share

Indicate by check mark whether the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☒

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒

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 (Section 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 or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,”“ “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☒ Smaller reporting company ☒ 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 has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☐

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’'s executive officers during the relevant recovery period pursuant to § 240.10D-1(b). ☐

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

The aggregate market value of the registrant’s common stock held by non-affiliates at June 30, ~~2024~~2025, the registrant’s most recently completed second fiscal quarter, was $~~106~~146,~~520~~993,~~960~~764.

The number of shares of common stock outstanding at March 7 6, ~~2025~~2026 was 3,~~532~~536,~~713~~754.

DOCUMENTS INCORPORATED BY REFERENCE

Portions of the registrant’s proxy statement for the annual meeting of its shareholders to be held April 22 23, ~~2025~~2026 are incorporated by reference into Parts III and IV of this Annual Report on Form 10-K. Except as expressly incorporated by reference, the registrant’s definitive proxy statement shall not be deemed to be part of this report.

MUNCY COLUMBIA FINANCIAL CORPORATION

FORM 10-K

TABLE OF CONTENTS

		Page
PART I
Item 1.	Business	3
Item 1A.	Risk Factors	8
Item 1B.	Unresolved Staff Comments	17
Item 1C.	Cybersecurity	17
Item 2.	Properties	1718
Item 3.	Legal Proceedings	1718
Item 4.	Mine Safety Disclosures	1718
PART II
Item 5.	Market for the Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities	1819
Item 6.	Reserved	1920
Item 7.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	1920
Item 7A.	Quantitative and Qualitative Disclosures about Market Risk	3537
Item 8.	Financial Statements and Supplementary Data	3638
Item 9.	Changes in and Disagreements with Accountants on Accounting and Financial Disclosure	77
Item 9A	Controls and Procedures	77
Item 9B.	Other Information	78
Item 9C.	Disclosure Regarding Foreign Jurisdictions that Prevent Inspections	78
PART III
Item 10.	Directors, Executive Officers and Corporate Governance	79
Item 11.	Executive Compensation	79
Item 12.	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	79
Item 13.	Certain Relationships and Related Transactions, and Director Independence	79
Item 14.	Principal Accounting Fees and Services	79
PART IV
Item 15.	Exhibits and Financial Statements Schedules	80
SIGNATURES		81
INDEX TO EXHIBITS		83

PART I

Item 1. Business

General

Muncy Columbia Financial Corporation (the “Corporation”) is a registered financial holding company, bank holding company, and Pennsylvania business corporation, headquartered in Bloomsburg, Pennsylvania. The Corporation has one wholly-owned bank subsidiary, Journey Bank (the “Bank”). A substantial part of the Corporation’s business consists of the management and supervision of the Bank. The Corporation’s principal source of income is dividends paid by the Bank. At December 31, ~~2024~~2025, the Corporation, on a consolidated basis, had approximately:

●· $1.67 billion in total assets;

●· $1.12 billion in gross loans;

●· $1.34 billion in deposits; and

●· $~~166~~193 million in stockholders’ equity.

The Corporation and Bank were formed through a merger in 2023. On April 18, 2023, CCFNB Bancorp, Inc. (“CCFNB”) and Muncy Bank Financial, Inc. (“MBF”) jointly announced the signing of a definitive merger agreement to combine the two companies in a strategic merger of equals. Effective November 11, 2023, the merger was completed. Under the terms of the Merger Agreement, (i) MBF merged with and into CCFNB, with CCFNB being the surviving entity, and (ii) The Muncy Bank & Trust Company merged with and into CCFNB’'s wholly-owned banking subsidiary, ~~First~~ First Columbia Bank & Trust Co. (“"First Columbia Bank”"), with First Columbia Bank being the surviving bank (the “"Mergers”"). In connection with the Mergers, CCFNB changed its name to Muncy Columbia Financial Corporation and First Columbia Bank changed its name to Journey Bank. Total purchase consideration was $55.1 million, including 1,488,960 shares of the Corporation’s common stock issued with a value of $55,092,000 and cash of $9,000 paid for fractional shares. Holders of MBF common stock prior to the consummation of the merger held approximately 41.7% of the Corporation’s common stock outstanding immediately following the merger.

The Bank is a state-chartered, nonmember bank, whose deposits are insured by the Deposit Insurance Fund of the Federal Deposit Insurance Corporation (“FDIC”). The Bank is a full-service commercial bank providing a range of services and products, including time and demand deposit accounts, consumer, commercial and mortgage loans to individuals and small to medium-sized businesses in its Northcentral Pennsylvania market area. The Bank also operates a full-service trust department and offers brokerage services through a third-party networking agreement. At December 31, ~~2024~~2025, the Bank had twenty-two branch banking offices located in the Pennsylvania counties of Clinton, Columbia, Lycoming, Montour and Northumberland.

Management has determined ~~that~~ that the Corporation has one reportable segment, “Community Banking.” All of the Corporation’s activities are interrelated, and each activity is dependent and assessed based on how each of the activities of the Corporation supports the others. The Corporation considers its branch banking offices to be a single reporting segment, because these branches have similar:

●· economic characteristics,

●· products and services,

●· operating processes,

●· delivery systems,

●· customer bases, and

●· regulatory oversight.

As of December 31, ~~2024~~2025, the ~~Corporation~~ Corporation had ~~236~~253 employees on a full-time equivalent basis. The Corporation and the Bank are not parties to any collective bargaining ~~agreement~~ agreement and employee relations are considered to be good.

The Bank

The Bank’s legal headquarters are located at ~~232~~1199 ~~East~~Lightstreet ~~Street~~Road, Bloomsburg, Columbia County, Pennsylvania 17815. The Bank is a locally managed community bank that ~~seeks~~ seeks to provide personal attention and professional financial assistance to its customers. The Bank serves the needs of individuals and ~~small~~ small to medium-sized businesses. The Bank’s business philosophy includes offering direct access to its President and other officers ~~and~~ and providing friendly, informed and courteous service, local and timely decision making, flexible and reasonable operating procedures ~~and~~ and consistently-applied credit policies.

~~Regulation and Supervision~~3

~~The~~Regulation ~~Corporation~~ and the Bank operate in a highly regulated industry and are subject to a variety of statutes, regulations, and policies, as well as ongoing regulatory supervision and review. Significant federal statutes that apply to the Corporation and the Bank include the Gramm Leach Bliley Act (“GLB Act”), the Bank Holding Company Act (“BHCA”), the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”), the USA Patriot Act, the Federal Reserve Act and the Federal Deposit Insurance Act. The Bank is subject primarily to the provisions of the Federal Deposit Insurance Act and, as a state-chartered financial institution, to the Pennsylvania Banking Code of 1965. In general, these statutes, regulations promulgated in accordance with theseSupervision

The Corporation and the Bank operate in a highly regulated industry and are subject to a variety of statutes, regulations, and policies, as well as ongoing regulatory supervision and review. Significant federal statutes that apply to the Corporation and the Bank include the Gramm Leach Bliley Act (“GLB Act”), the Bank Holding Company Act (“BHCA”), the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”), the USA Patriot Act, the Federal Reserve Act and the Federal Deposit Insurance Act. The Bank is subject primarily to the provisions of the Federal Deposit Insurance Act and, as a state-chartered financial institution, to the Pennsylvania Banking Code of 1965. In general, these statutes, regulations promulgated in accordance with these statutes, and interpretations of the statutes and regulations by the banking regulatory agencies 3establish the eligible business activities of the Corporation and the Bank, certain acquisition and merger restrictions, limitations on intercompany transactions, such as loans and dividends, and capital adequacy requirements, among other things. These laws, regulations and policies are subject to frequent change and the Corporation takes measures to comply with applicable requirements. The following summarizes some of the more significant provisions of these laws as they relate to the Corporation and the Bank. To the extent that the following information describes statutory or regulatory provisions, it is qualified in its entirety by reference to the particular statutory provisions. Any change in applicable law or regulation may have a material effect on the business and prospects of the Corporation and the Bank.

~~statutes,~~Financial and ~~interpretations of the statutes and regulations by the banking regulatory agencies establish the eligible business activities of the Corporation and the~~ Bank, ~~certain~~Holding ~~acquisition~~Company and merger restrictions, limitations on intercompany transactions, such as loans and dividends, and capital adequacy requirements, among other things. These laws, regulations and policies are subject to frequent change and the Corporation takes measures to comply with applicable requirements. The following summarizes some of the more significant provisions of these laws as they relate to the Corporation and the Bank. To the extent that the following information describes statutory or regulatory provisions, it is qualified in its entirety by reference to the particular statutory provisions. Any change in applicable law or regulation may have a material effect on the business and prospects of the Corporation and the Bank.Activities

~~Financial~~As a financial holding company, the Corporation may engage in, and ~~Bank~~acquire ~~Holding~~companies ~~Company~~engaged ~~Activities~~in, activities that are considered “financial in nature”, as defined by the GLB Act and Federal Reserve Board interpretations. These activities include, among other things, securities underwriting, dealing and market-making, sponsoring mutual funds and investment companies, insurance underwriting and agency activities, and merchant banking. If any banking subsidiary of the Corporation ceases to be “well capitalized” or “well managed” under applicable regulatory standards, the Federal Reserve Board may, among other things, place limitations on the Corporation’s ability to conduct the broader financial activities permissible for financial holding companies or, if the deficiencies persist, require the Corporation to divest the banking subsidiary. In addition, if any banking subsidiary of the Corporation receives a Community Reinvestment Act rating of less than satisfactory, the Corporation would be prohibited from engaging in any additional activities other than those permissible for bank holding companies that are not financial holding companies. The Corporation may engage directly or indirectly in activities considered financial in nature, either de novo or by acquisition, as long as it gives the Federal Reserve Board after-the-fact notice of the new activities.

AsInterstate aBanking ~~financial holding company, the Corporation may engage in,~~ and acquire companies engaged in, activities that are considered “financial in nature”, as defined by the GLB Act and Federal Reserve Board interpretations. These activities include, among other things, securities underwriting, dealing and market-making, sponsoring mutual funds and investment companies, insurance underwriting and agency activities, and merchant banking. If any banking subsidiary of the Corporation ceases to be “well capitalized” or “well managed” under applicable regulatory standards, the Federal Reserve Board may, among other things, place limitations on the Corporation’s ability to conduct the broader financial activities permissible for financial holding companies or, if the deficiencies persist, require the Corporation to divest the banking subsidiary. In addition, if any banking subsidiary of the Corporation receives a Community Reinvestment Act rating of less than satisfactory, the Corporation would be prohibited from engaging in any additional activities other than those permissible for bank holding companies that are not financial holding companies. The Corporation may engage directly or indirectly in activities considered financial in nature, either de novo or by acquisition, as long as it gives the Federal Reserve Board after-the-fact notice of the new activities.Branching

~~Interstate~~The ~~Banking~~federal banking agencies are generally authorized to approve interstate bank merger transactions. The Dodd-Frank Act amended federal banking law to permit banks to establish de novo branches in other states to the same extent as a bank chartered by that state would be so permitted. The interstate banking and ~~Branching~~branching provisions of the federal banking laws would permit the Bank to merge with banks in other states and branch into other states and would also permit banks from other states to acquire banks in the Bank's market area and to establish de novo branches in the Bank’s market area.

~~The~~Control federal banking agencies are generally authorized to approve interstate bank merger transactions. The Dodd-Frank Act amended federal banking law to permit banks to establish de novo branches in other states to the same extent as a bank chartered by that state would be so permitted. The interstate banking and branching provisions of the federal banking laws would permit the Bank to merge with banks in other states and branch into other states and would also permit banks from other states to acquire banks in the Bank’s market area and to establish de novo branches in the Bank’s market area.Acquisitions

The Change in Bank Control ~~Acquisitions~~Act prohibits a person or group of persons from acquiring “control” of a bank holding company, unless the Federal Reserve Board has been notified and has not objected to the transaction.

~~The~~Under ~~Change~~a inrebuttable ~~Bank Control~~presumption ~~Act~~established ~~prohibits~~by athe ~~person~~Federal Reserve Board, the acquisition of 10% or ~~group~~more of ~~persons~~a ~~from~~class ~~acquiring~~of ~~“control”~~voting stock of a bank holding company with a class of securities registered under Section 12 of the Exchange Act would, ~~unless~~under the circumstances set forth in the presumption, constitute acquisition of control of the bank holding company. In addition, a company is required to obtain the approval of the Federal Reserve Board under ~~has~~the ~~been~~Bank ~~notified~~Holding ~~and~~Company ~~has~~Act ~~not~~before ~~objected~~acquiring to25% (5% in the ~~transaction~~case of an acquirer that is a bank holding company) or more of any class of outstanding voting stock of a bank holding company, or otherwise obtaining control or a “controlling influence” over that bank holding company.

~~Under~~Liability afor ~~rebuttable~~Banking presumption established by the Federal Reserve Board, the acquisition of 10% or more of a class of voting stock of a bank holding company with a class of securities registered under Section 12 of the Exchange Act would, under the circumstances set forth in the presumption, constitute acquisition of control of the bank holding company. In addition, a company is required to obtain the approval of the Federal Reserve Board under the Bank Holding Company Act before acquiring 25% (5% in the case of an acquirer that is a bank holding company) or more of any class of outstanding voting stock of a bank holding company, or otherwise obtaining control or a “controlling influence” over that bank holding company.Subsidiaries

~~Liability~~Under Federal Reserve Board policy, a bank holding company is expected to act as a source of financial and managerial strength to each of its subsidiary banks and to commit resources to their support. This support may be required at times when the bank holding company may not have the resources to provide it. Similarly, under the cross-guarantee provisions of the Federal Deposit Insurance Act, the FDIC can hold any FDIC-insured depository institution liable for ~~Banking~~any ~~Subsidiaries~~loss suffered or anticipated by the FDIC in connection with (1) the “default” of a commonly controlled FDIC-insured depository institution; or (2) any assistance provided by the FDIC to a commonly controlled FDIC-insured depository institution “in danger of default”.

Under Federal Reserve Board policy, a bank holding company is expected to act as a source of financial and managerial strength to each of its subsidiary banks and to commit resources to their support. This support may be required at times when the bank holding company may not have the resources to provide it. Similarly, under the cross-guarantee provisions of the Federal Deposit Insurance Act, the FDIC can hold any FDIC-insured depository institution liable for any loss suffered or anticipated by the FDIC in connection with (1) the “default” of a commonly controlled FDIC-insured depository institution; or (2) any assistance provided by the FDIC to a commonly controlled FDIC-insured depository institution “in danger of default”.4

Capital Requirements

The federal banking agencies ~~approved~~ approved final capital rules in July 2013 that substantially amend the existing capital rules for banks and bank holding companies. The new rules reflect, in part, certain standards initially adopted by the Basel Committee on Banking and Supervision in December 2010 (commonly ~~known~~ known as Basel III), as well as requirements contemplated by the Dodd-Frank Act.

The new rules include a new ~~minimum~~ minimum ratio of common equity tier 1 capital to risk-weighted assets of 4.5% and a common equity tier 1 capital conservation buffer of 2.5% of risk-weighted assets, raise the minimum ratio of tier 1 capital to risk-weighted assets from 4% to 6% and include a minimum leverage ~~ratio~~ ratio of 4%. Both the Corporation and the Bank comply with these ratios. The new rules also implement strict eligibility criteria for ~~regulatory~~ regulatory capital instruments and improve the methodology for calculating risk-weighted assets to enhance risk sensitivity.

4During 2018, the FRB raised the threshold of its "Small Bank Holding Company" exemption to the application of consolidated capital requirements for qualifying small bank holding companies from $1 billion to $3 billion of consolidated assets. Consequently, qualifying bank holding companies having less than $3 billion of consolidated assets are not subject to the consolidated capital requirements unless otherwise directed by the FRB. As of December 31, 2025, the Corporation qualifies as a small bank holding company and, while it complies with the consolidated capital requirements, it is not subject to regulation in accordance with the consolidated capital requirements.

~~During~~Additional ~~2018,~~information ~~the FRB raised~~concerning the ~~threshold~~Corporation ofand ~~its~~the ~~“Small~~ Bank ~~Holding~~with ~~Company”~~respect ~~exemption~~ to ~~the application of consolidated~~ capital requirements ~~for~~is ~~qualifying small~~incorporated ~~bank~~by ~~holding~~reference ~~companies~~ from $1Note ~~billion~~13, to“Regulatory ~~$3 billion~~ Matters,” of ~~consolidated~~the ~~assets.~~“Notes ~~Consequently,~~to ~~qualifying~~Consolidated ~~bank~~Financial ~~holding~~Statements” ~~companies~~included ~~having less~~under ~~than~~Item $38 ~~billion~~ of ~~consolidated~~this ~~assets~~report, ~~are~~and ~~not~~from ~~subject to~~ the ~~consolidated~~“Capital ~~capital requirements unless otherwise directed by the~~Resources” ~~FRB.~~section As of ~~December 31, 2024,~~ the ~~Corporation~~“Management’s ~~qualifies~~Discussion asand aAnalysis ~~small~~of ~~bank~~Consolidated ~~holding~~Financial ~~company~~Condition and, ~~while~~Results itof ~~complies with the consolidated capital requirements~~Operations,” included itunder isItem ~~not~~7 ~~subject~~of tothis ~~regulation in accordance with the consolidated capital requirements~~report.

Additional information concerning the Corporation and the Bank with respect to capital requirements is incorporated by reference from Note 14, “Regulatory Matters”, of the “Notes to Consolidated Financial Statements” included under Item 8 of this report, and from the “Capital Resources” section of the “Management’s Discussion and Analysis of Consolidated Financial Condition and Results of Operations”, included under Item 7 of this report.FDICIA

The Federal Deposit Insurance Corporation Improvement Act of 1991 (“FDICIA”), and the regulations promulgated under FDICIA, among other things, established five capital categories for insured depository institutions – well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized and critically undercapitalized – and requires federal bank regulatory agencies to implement systems for “prompt corrective action” for insured depository institutions that do not meet minimum capital requirements based on these categories. Unless a bank is well capitalized, it is subject to restrictions on its ability to offer brokered deposits and on certain other aspects of its operations. An undercapitalized bank must develop a capital restoration plan and its parent bank holding company must guarantee the bank’s compliance with the plan up to the lesser of 5% of the bank’s assets at the time it became undercapitalized and the amount needed to comply with the plan. As of December 31, 2025, the Bank was considered well capitalized based on the guidelines implemented by the bank’s regulatory agencies.

~~The~~Dividend ~~Federal Deposit Insurance Corporation Improvement Act of 1991 (“FDICIA”),~~ and ~~the~~Share ~~regulations~~Repurchase promulgated under FDICIA, among other things, established five capital categories for insured depository institutions – well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized and critically undercapitalized – and requires federal bank regulatory agencies to implement systems for “prompt corrective action” for insured depository institutions that do not meet minimum capital requirements based on these categories. Unless a bank is well capitalized, it is subject to restrictions on its ability to offer brokered deposits and on certain other aspects of its operations. An undercapitalized bank must develop a capital restoration plan and its parent bank holding company must guarantee the bank’s compliance with the plan up to the lesser of 5% of the bank’s assets at the time it became undercapitalized and the amount needed to comply with the plan. As of December 31, 2024, the Bank was considered well capitalized based on the guidelines implemented by the bank’s regulatory agencies.Restrictions

~~Dividend~~The Corporation is a legal entity separate and ~~Share~~distinct ~~Repurchase~~from ~~Restrictions~~the Bank. The Corporation’s revenues (on a parent company only basis) and its ability to pay dividends to its shareholders, or repurchase shares from its shareholders, are almost entirely dependent upon the receipt of dividends from the Bank. The right of the Corporation, and consequently the rights of its creditors and shareholders to participate in any distribution of the assets or earnings of any subsidiary through the payment of such dividends or otherwise is necessarily subject to the prior claims of creditors of the subsidiary (including depositors) except to the extent that claims of the Corporation, in its capacity as a creditor, may be recognized. Additionally, the ability of the Bank to pay dividends to the Corporation is subject to Pennsylvania state law and various regulatory restrictions.

The ~~Corporation~~declaration isof acash ~~legal~~dividends ~~entity~~on ~~separate and distinct from~~ the ~~Bank. The~~ Corporation’s ~~revenues~~common ~~(on a parent company only basis) and its ability to pay dividends to its shareholders~~stock, or the repurchase of shares ~~from~~of its ~~shareholders~~common stock, is ~~are~~at ~~almost entirely dependent upon~~ the ~~receipt~~discretion of ~~dividends~~its ~~from~~board ~~the Bank. The right~~ of ~~the Corporation~~directors, and ~~consequently~~any ~~the~~decision ~~rights of its creditors and shareholders~~ to ~~participate~~declare ina ~~any~~dividend, ~~distribution of the assets~~ or ~~earnings~~repurchase ofshares, ~~any~~is ~~subsidiary~~based ~~through~~on ~~the~~a ~~payment~~number of ~~such~~factors, ~~dividends~~including, orbut ~~otherwise~~not islimited ~~necessarily subject~~ to, ~~the prior claims~~earnings, ofprospects, ~~creditors~~financial ofcondition, ~~the~~regulatory ~~subsidiary~~capital ~~(including~~levels, ~~depositors)~~applicable ~~except~~covenants tounder ~~the~~any ~~extent~~credit ~~that claims of the Corporation~~agreements, innotes ~~its~~and ~~capacity~~other ~~as a creditor,~~contractual ~~may~~restrictions, bePennsylvania ~~recognized. Additionally~~law, ~~the~~federal ~~ability~~bank ofregulatory ~~the Bank to pay dividends to the Corporation is subject to Pennsylvania state~~ law, and ~~various~~ ~~regulatory~~other ~~restrictions~~factors deemed relevant.

~~The~~Deposit ~~declaration of cash dividends on the Corporation’s common stock,~~ or ~~the~~Preference repurchase of shares of its common stock, is at the discretion of its board of directors, and any decision to declare a dividend, or repurchase shares, is based on a number of factors, including, but not limited to, earnings, prospects, financial condition, regulatory capital levels, applicable covenants under any credit agreements, notes and other contractual restrictions, Pennsylvania law, federal bank regulatory law, and other factors deemed relevant.Statute

~~Deposit~~In the “liquidation or ~~Preference~~other resolution” ~~Statute~~of an institution by any receiver, U.S. federal law provides that deposits and certain claims for administrative expenses and employee compensation against the insured depository institution would be afforded a priority over the general unsecured claims against that institution, including federal funds and letters of credit.

InOther ~~the~~Federal ~~“liquidation or~~Laws ~~other resolution” of an institution by any receiver, U.S. federal law provides that deposits~~ and certain claims for administrative expenses and employee compensation against the insured depository institution would be afforded a priority over the general unsecured claims against that institution, including federal funds and letters of credit.Regulations

~~Other~~The ~~Federal~~Corporation’s ~~Laws~~operations are subject to additional federal laws and ~~Regulations~~regulations applicable to financial institutions, including, without limitation:

~~The Corporation’s operations are subject to additional federal laws and regulations applicable to financial institutions, including, without limitation:~~5

●· Privacy provisions of the GLB Act and related regulations, which require us to maintain privacy policies intended to safeguard customer financial information, to disclose the policies to our customers and to allow customers to “opt out” of having their financial service providers disclose their confidential financial information to non-affiliated third parties, subject to certain exceptions;

●· Right to Financial Privacy Act, which imposes a duty to maintain confidentiality of consumer financial records and prescribes procedures for complying with administrative subpoenas of financial records;

●· Consumer protection rules for the sale of insurance products by depository institutions, adopted pursuant to the requirements of the GLB Act; and

●· USA Patriot Act, which requires financial institutions to take certain actions to help prevent, detect and prosecute international money laundering and the financing of terrorism.

5Sarbanes-Oxley Act of 2002

On July 30, 2002, the Sarbanes-Oxley Act of 2002 was enacted. The Sarbanes-Oxley Act represents a comprehensive revision of laws affecting corporate governance, accounting obligations and corporate reporting. The Sarbanes-Oxley Act is applicable to all companies, such as the Corporation, with equity securities registered or that file reports under the Securities Exchange Act of 1934. In particular, the Sarbanes-Oxley Act established: (i) new requirements for audit committees, including independence, expertise, and responsibilities; (ii) additional responsibilities regarding financial statements for the chief executive officer and chief financial officer; (iii) new standards for auditors and regulation of audits; (iv) increased disclosure and reporting obligations for the company and its directors and executive officers; and (v) new and increased civil and criminal penalties for violations of the securities laws. Many of the provisions were effective immediately while other provisions became effective over a period of time and are subject to rulemaking by the SEC.

OnFDIC ~~July~~Insurance ~~30, 2002, the Sarbanes-Oxley Act of 2002 was enacted. The Sarbanes-Oxley Act represents a comprehensive revision of laws affecting corporate governance, accounting obligations~~ and corporate reporting. The Sarbanes-Oxley Act is applicable to all companies, such as the Corporation, with equity securities registered or that file reports under the Securities Exchange Act of 1934. In particular, the Sarbanes-Oxley Act established: (i) new requirements for audit committees, including independence, expertise, and responsibilities; (ii) additional responsibilities regarding financial statements for the chief executive officer and chief financial officer; (iii) new standards for auditors and regulation of audits; (iv) increased disclosure and reporting obligations for the company and its directors and executive officers; and (v) new and increased civil and criminal penalties for violations of the securities laws. Many of the provisions were effective immediately while other provisions became effective over a period of time and are subject to rulemaking by the SEC.Assessments

Journey Bank is fully insured by the FDIC ~~Insurance~~up to the deposit insurance limit of $250,000 per depositor, per FDIC insured institution, and ~~Assessments~~per ownership category, in accordance with applicable laws and regulations. The assessment rate paid by each FDIC member institution is based on its relative risks of default as measured by regulatory capital ratios and other factors. Specifically, the assessment rate is based on the institution’s capitalization risk category and supervisory subgroup category. An institution’s capitalization risk category is based on the institution’s capitalization and supervisory ratings. An institution’s supervisory subgroup category is based on the FDIC’s assessment of the financial condition of the institution and the probability that FDIC intervention or other corrective action will be required. The FDIC may terminate insurance of deposits upon a finding that an institution has engaged in unsafe and unsound practices, is in an unsafe or unsound condition to continue operations, or has violated any applicable law, regulation, rule, order or condition imposed by the FDIC.

~~Journey~~The ~~Bank~~base isfor ~~fully insured by the FDIC up to the~~ deposit insurance ~~limit of $250,000 per depositor, per FDIC insured institution, and per ownership category, in~~ ~~accordance~~assessments ~~with applicable laws and regulations. The assessment rate paid by each FDIC member institution~~ is ~~based~~average onconsolidated ~~its~~total ~~relative~~assets ~~risks of~~less ~~default~~average astangible ~~measured by regulatory capital ratios and other factors~~equity. ~~Specifically,~~Assessment ~~the~~rates ~~assessment~~are ~~rate~~calculated isusing ~~based~~formulas onthat ~~the institution’s~~take ~~capitalization~~into ~~risk~~account ~~category~~the ~~and supervisory subgroup category. An institution’s capitalization~~ risk ~~category is based on the institution’s capitalization and supervisory ratings. An institution’s supervisory subgroup category is based on the FDIC’s assessment~~ of ~~the~~ ~~financial condition of~~ the institution ~~and~~being ~~the probability that FDIC intervention or other corrective action will be required~~assessed. The FDIC may terminate insurance of deposits upon a finding that an institution has engaged in unsafe and unsound practices, is in an unsafe or unsound condition to continue operations, or has violated any applicable law, regulation, rule, order or condition imposed by the FDIC.

The ~~base~~FDIC ~~for~~may ~~deposit~~increase ~~insurance~~or decrease ~~assessments~~the isassessment ~~average~~rate ~~consolidated~~schedule ~~total~~in ~~assets~~order ~~less~~to ~~average~~manage ~~tangible~~the ~~equity.~~Deposit ~~Assessment~~Insurance ~~rates~~Fund ~~are~~(“DIF”) ~~calculated~~to ~~using~~prescribed ~~formulas~~statutory ~~that~~target ~~take~~levels. ~~into~~An ~~account~~increase in the risk ofcategory for a subsidiary bank or in the assessment rates could have an adverse effect on such bank’s and, consequently, the holding company’s earnings. The FDIC may terminate deposit insurance if it determines the institution ~~being~~involved has ~~assessed~~engaged in or is engaging in unsafe or unsound banking practices, is in an unsafe or unsound condition, or has violated applicable laws, regulations or orders.

~~The~~On ~~FDIC~~May ~~may~~11, ~~increase~~2023, ~~or decrease~~ the ~~assessment~~FDIC ~~rate~~proposed a ~~schedule~~special inassessment ~~order~~ to ~~manage~~make ~~the~~up ~~Deposit~~for ~~Insurance~~losses ~~Fund (“DIF”)~~ to ~~prescribed~~the ~~statutory~~deposit ~~target~~insurance ~~levels. An~~fund ~~increase~~caused inby the ~~risk~~decision ~~category~~of ~~for~~bank aregulators ~~subsidiary~~to ~~bank~~declare ora systemic exception in the ~~assessment~~failures ~~rates~~of ~~could~~Silicon ~~have~~Valley anBank ~~adverse~~and ~~effect~~Signature onBank. ~~such~~Starting ~~bank’s~~with ~~and, consequently,~~ the ~~holding~~first ~~company’s~~quarter ~~earnings.~~of ~~The~~2024, the FDIC ~~may~~would ~~terminate~~impose ~~deposit~~a special ~~insurance~~assessment ifon ~~it determines~~ the ~~institution~~amount ~~involved has~~of ~~engaged~~an inindependent orbank’s isestimated ~~engaging~~uninsured deposits in ~~unsafe~~excess orof ~~unsound~~$5 ~~banking~~billion ~~practices~~as of December, is2022. Banks inwith anless ~~unsafe~~than or$5 ~~unsound~~billion ~~condition~~in assets, orsuch ~~has~~as ~~violated~~Journey ~~applicable laws~~Bank, ~~regulations~~would ornot ~~orders~~be subject to the special assessment.

OnDodd-Frank ~~May~~Wall ~~11,~~Street ~~2023,~~Reform the FDIC proposed a special assessment to make up for losses to the deposit insurance fund caused by the decision of bank regulators to declare a systemic exception in the failures of Silicon Valley Bank and ~~Signature~~Consumer ~~Bank. Starting with the first quarter of 2024, the FDIC would~~Protection impose a special assessment on the amount of an independent bank’s estimated uninsured deposits in excess of $5 billion as of December, 2022. Banks with less than $5 billion in assets, such as Journey Bank, would not be subject to the special assessment.Act

On July 21, 2010, the Dodd-Frank Act ~~Wall~~was ~~Street~~signed ~~Reform~~into law. The Dodd-Frank Act is intended to affect a fundamental restructuring of federal banking regulation. Among other things, the Dodd-Frank Act creates a new Financial Stability Oversight Council to identify systemic risks in the financial system and gives ~~Consumer~~federal regulators new authority to take control of and liquidate financial firms. The Dodd-Frank Act additionally creates a new ~~Protection~~independent federal regulator to administer federal consumer protection laws. To date, the following provisions of the Dodd-Frank Act are considered to be of the greatest significance to the Corporation:

On July 21, 2010, the Dodd-Frank Act was signed into law. The Dodd-Frank Act is intended to affect a fundamental restructuring of federal banking regulation. Among other things, the Dodd-Frank Act creates a new Financial Stability Oversight Council to identify systemic risks in the financial system and gives federal regulators new authority to take control of and liquidate financial firms. The Dodd-Frank Act additionally creates a new independent federal regulator to administer federal consumer protection laws. To date, the following provisions of the Dodd-Frank Act are considered to be of the greatest significance to the Corporation:6

● expands the authority of the FRB to examine bank holding companies and their subsidiaries, including insured depository institutions; ● requires a bank holding company to be well capitalized and well managed to receive approval of an interstate bank acquisition; ● provides mortgage reform provisions regarding a customer’s ability to pay and making more loans subject to provisions for higher-cost loans and new disclosures; ● created the Consumer Financial Protection Bureau (the “CFPB”) that has rulemaking authority for a wide range of consumer protection laws that apply to all banks and has broad powers to supervise and enforce consumer protection laws; ● made permanent the $250,000 limit for federal deposit insurance at all insured depository institutions; ● includes additional corporate governance and executive compensation requirements on companies subject to the Exchange Act; ● permits FDIC-insured banks to pay interest on business demand deposits; ● requires that holding companies and other companies that directly or indirectly control an insured depository institution serve as a source of financial strength; ● created the Financial Stability Oversight Council with authority to identify institutions and practices that might pose a systemic risk; and ● permits national and state banks to establish interstate branches to the same extent as the branch host state allows establishment of in-state branches.

6● requires a bank holding company to be well capitalized and well managed to receive approval of an interstate bank acquisition;

~~Consumer~~● ~~Financial~~provides ~~Protection Bureau~~mortgage ~~and~~reform Consumer Lending Regulation. The Dodd-Frank Act created the CFPB, which is granted broad rulemaking, supervisory and enforcement powers under various federal consumer financial protection laws, including the Equal Credit Opportunity Act, Truth in Lending Act (“TILA”), Real Estate Settlement Procedures Act (“RESPA”), Fair Credit Reporting Act, Fair Debt Collection Practices Act, Consumer Financial Privacy provisions ofregarding the Gramm-Leach-Bliley Act, and certain other statutes. The CFPB has examination and primary enforcement authority with respect to depository institutions with $10 billion or more in assets. Smaller institutions are subject to rules promulgated by the CFPB but continue to be examined and supervised by federal banking regulators for consumer compliance purposes. The CFPB has authority to prevent unfair, deceptive or abusive practices in connection with the offering of consumer financial products. For example, the Dodd-Frank Act authorizes the CFPB to establish certain minimum standards for the origination of residential mortgages including, in certain circumstances, a ~~determination of the borrower~~customer’s ability to ~~repay.~~pay In addition, the Dodd-Frank Act allows certain borrowers to raise certain defenses to foreclosure if they receive any loan other than a “qualified mortgage” as defined by the CFPB. The Dodd-Frank Act permits states to adopt consumer protection laws and ~~standards~~making ~~that are~~ more ~~stringent~~loans ~~than~~subject ~~those adopted at the federal level and, in certain circumstances, permits state attorneys general~~ to ~~enforce~~provisions ~~compliance~~for ~~with~~higher-cost ~~both~~loans ~~the state~~ and ~~federal~~new ~~laws and regulations.~~disclosures;

~~The~~● ~~CFPB’s~~created ~~rulemaking, examination~~the ~~and~~Consumer ~~enforcement~~Financial ~~authority~~Protection ~~has~~Bureau ~~and~~(the ~~will~~“CFPB”) ~~continue~~that tohas ~~significantly~~rulemaking ~~affect~~authority ~~financial~~for ~~institutions~~a ~~offering~~wide ~~consumer~~range ~~financial products~~of ~~and~~consumer ~~services,~~protection ~~including~~laws ~~the~~that ~~Corporation~~apply ~~and~~to ~~the~~all ~~Bank.~~banks ~~These~~and ~~regulatory~~has ~~activities~~broad ~~may~~powers ~~limit~~to ~~the~~supervise ~~types of financial services~~ and ~~products~~ ~~the~~enforce ~~Bank~~consumer ~~may~~protection ~~offer, which in turn may reduce the Corporation’s revenues.~~laws;

~~Community~~● ~~Reinvestment~~made ~~Act~~permanent the $250,000 limit for federal deposit insurance at all insured depository institutions;

~~The~~● ~~Community~~includes ~~Reinvestment Act~~additional ~~requires~~corporate ~~the~~governance ~~FDIC to evaluate the Bank’s performance in helping to meet the credit needs of the entire community it serves, including low-~~ and ~~moderate-income~~executive ~~neighborhoods,~~compensation ~~consistent~~requirements ~~with~~on ~~safe~~companies ~~and~~subject ~~sound banking operations, and~~ to take this record into consideration when evaluating certain applications, such as applications to establish, relocate or close branch offices and applications in connection with mergers and other acquisition transactions. On October 23, 2023, the ~~FDIC~~Exchange and the other federal banking agencies approved changes to their CRA regulations, replacing the existing tests with four new tests and associated performance metrics. The new CRA regulations were to become effective on January 1, 2026. Early in 2024, a federal judge issued an injunction staying the effective date of the CRA regulations. The injunction has been appealed by the federal banking agencies, but remains in effect as of the date of this annual report. The effective dates will be extended for each day the injunction remains in place, pending the resolution of the lawsuit. The Bank achieved a rating of “outstanding” on its most recent CRA examination dated December 5, 2022.Act;

~~Commercial~~● ~~Real~~permits ~~Estate~~FDIC-insured ~~Concentrations~~banks to pay interest on business demand deposits;

~~Lending~~● ~~operations~~requires ofthat ~~commercial banks~~holding ~~may~~companies beand ~~subject~~other tocompanies ~~enhanced~~that ~~scrutiny~~directly by federal banking regulators based on a bank’s concentration of commercial real estate loans. On December 6, 2006, the federal banking regulators issued final guidance to remind financial institutions of the risk posed by commercial real estate, or ~~CRE,~~indirectly ~~lending~~control ~~concentrations,~~an ~~and~~insured ondepository ~~December~~institution ~~18,~~serve ~~2015,~~as ~~the~~a federal bank regulators issued additional guidance on prudent risk management for CRE lending. CRE loans generally include land development, construction loans, and loans secured by multifamily property, and nonfarm, nonresidential real property where the primary source of ~~repayment~~financial is derived from rental income associated with the property. The guidance prescribes the following guidelines for examiners to help identify institutions that are potentially exposed to significant CRE risk and may warrant greater supervisory scrutiny:strength;

● ~~total~~created ~~reported~~the ~~loans~~Financial ~~for~~Stability ~~construction,~~Oversight ~~land~~Council ~~development~~with ~~and~~authority ~~other~~to ~~land,~~identify orinstitutions ~~C&D,~~and ~~represent~~practices ~~100%~~that ormight ~~more~~pose ofa ~~the~~systemic ~~institution’s total capital~~risk; orand

● ~~Total~~permits ~~CRE~~national ~~loans~~and ~~represent~~state ~~300%~~banks orto ~~more~~establish ofinterstate ~~the~~branches ~~institution’s~~to ~~total capital, and~~ the ~~outstanding~~same ~~balance~~extent ofas the ~~institution’s~~branch ~~CRE~~host ~~loan~~state ~~portfolio~~allows ~~has~~establishment ~~increased~~of ~~over~~in-state ~~50% or more~~branches.

AsConsumer Financial Protection Bureau and Consumer Lending Regulation. The Dodd-Frank Act created the CFPB, which is granted broad rulemaking, supervisory and enforcement powers under various federal consumer financial protection laws, including the Equal Credit Opportunity Act, Truth in Lending Act (“TILA”), Real Estate Settlement Procedures Act (“RESPA”), Fair Credit Reporting Act, Fair Debt Collection Practices Act, Consumer Financial Privacy provisions of ~~December~~the 31Gramm-Leach-Bliley Act, ~~2024~~and certain other statutes. The CFPB has examination and primary enforcement authority with respect to depository institutions with $10 billion or more in assets. Smaller institutions are subject to rules promulgated by the CFPB but continue to be examined and supervised by federal banking regulators for consumer compliance purposes. The CFPB has authority to prevent unfair, deceptive or abusive practices in connection with the offering of consumer ~~Bank~~financial ~~did~~products. ~~not~~For ~~exceed~~example, ~~either~~the ~~guideline~~Dodd-Frank ~~threshold~~Act authorizes the CFPB to establish certain minimum standards for the origination of residential mortgages including, in certain circumstances, a determination of the borrower’s ability to repay. In addition, the Dodd-Frank Act allows certain borrowers to raise certain defenses to foreclosure if they receive any loan other than a “qualified mortgage” as defined by the CFPB. The Dodd-Frank Act permits states to adopt consumer protection laws and standards that are more stringent than those adopted at the federal level and, in certain circumstances, permits state attorneys general to enforce compliance with both the state and federal laws and regulations.

~~Environmental~~The CFPB’s rulemaking, examination and enforcement authority has and will continue to significantly affect financial institutions offering consumer financial products and services, including the Corporation and the Bank. These regulatory activities may limit the types of financial services and products the Bank may offer, which in turn may reduce the Corporation’s revenues.

~~The~~Community ~~Corporation~~Reinvestment has no material ongoing costs related to compliance with federal, state, or local environmental laws. From time to time, the Bank originates loans with special environmental considerations. The Bank’s lending policy outlines policies and procedures related to loans with special environmental considerations, including the need to obtain phase I/II environmental assessments. Generally, the cost of these assessments is covered by the borrower.Act

~~Future~~The ~~Legislation~~Community Reinvestment Act requires the FDIC to evaluate the Bank’s performance in helping to meet the credit needs of the entire community it serves, including low- and moderate-income neighborhoods, consistent with safe and sound banking operations, and to take this record into consideration when evaluating certain applications, such as applications to establish, relocate or close branch offices and applications in connection with mergers and other acquisition transactions. The Bank achieved a rating of “outstanding” on its most recent CRA examination dated December 5, 2022. On October 23, 2023, the FDIC and the other federal banking agencies approved changes to their CRA regulations. The new CRA regulations were to become effective on January 1, 2026. On July 16, 2025, the FDIC and the other federal banking agencies issued a joint notice of proposed rulemaking to amend their CRA regulations by rescinding the CRA rule issued in October 2023 and replacing it with the 1995 CRA regulations.

~~Changes~~Commercial toReal ~~the~~Estate laws and regulations to which the Corporation and the Bank are subject can affect the operating environment of both the Corporation and the Bank in substantial and unpredictable ways. The Corporation cannot accurately predict whether those changes in laws and regulations will occur, and, if those changes occur, the ultimate effect they would have upon the financial condition or results of operations of the Corporation. This is also true of federal legislation particularly given the current volatile environment.Concentrations

7Lending operations of commercial banks may be subject to enhanced scrutiny by federal banking regulators based on a bank’s concentration of commercial real estate loans. On December 6, 2006, the federal banking regulators issued final guidance to remind financial institutions of the risk posed by commercial real estate, or CRE, lending concentrations, and on December 18, 2015, the federal bank regulators issued additional guidance on prudent risk management for CRE lending. CRE loans generally include land development, construction loans, and loans secured by multifamily property, and nonfarm, nonresidential real property where the primary source of repayment is derived from rental income associated with the property. The guidance prescribes the following guidelines for examiners to help identify institutions that are potentially exposed to significant CRE risk and may warrant greater supervisory scrutiny:

~~Human~~● ~~Capital~~total ~~Resources~~reported loans for construction, land development and other land, or C&D, represent 100% or more of the institution’s total capital; or

We● ~~recognize~~Total ~~the~~CRE ~~importance of~~loans ~~human~~represent ~~capital~~300% ~~resources~~or asmore ~~a cornerstone~~ of ~~our~~the ~~business. The Corporation~~institution’s ~~key~~total ~~human~~ capital ~~management objectives are to attract and retain highly qualified individuals that fit our values and culture. The Corporation is an Equal Opportunity and Affirmative Action Employer. We recruit~~, ~~employ, train, compensate,~~ and ~~promote~~the ~~without~~outstanding ~~regard~~balance toof ~~race,~~the religion, creed, color, national origin, age, gender, sexual orientation, gender identity, marital status, disability, veteran status, or any other basis protected by applicable federal, state or local law.institution’s

~~Available Information~~ 7

~~The Corporation~~ ~~files~~CRE ~~reports,~~loan ~~proxy~~portfolio ~~and~~has ~~information~~increased ~~statements~~over ~~and~~50% other information electronically with the SEC. The SEC maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC. The SEC’s website address is https://www.sec.gov. The Corporation makes its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K and amendments thereto available through its website at https://www.journeybank.com. The information contained on our website is not included as a part of, or ~~incorporated by reference in, this Annual Report on Form 10-K~~more. These reports may also be obtained free of charge as soon as practicable after filing or furnishing them to the SEC upon request by sending an email to investorrelations@journeybank.com. Information may also be obtained via written request to Muncy Columbia Financial Corporation, Attention: Chief Financial Officer, 232 East Street, Bloomsburg, PA 17815.

~~Item~~As ~~1A.~~of ~~Risk~~December ~~Factors~~31, 2025, the Bank did not exceed either guideline threshold.

The operations and financial results of the Corporation are subject to various risks and uncertainties, including those described below. The risks and uncertainties described below are not the only ones the Corporation faces. Additional risks and uncertainties the Corporation is unaware of, or currently believes are not material, may also become important factors affecting the Corporation. If any of the following risks occur, the Corporation’s business, financial condition, operating results and prospects could be materially and adversely affected. In that event, the price of the Corporation’s common stock could decline.Environmental

~~Risks~~The ~~Relating~~Corporation has no material ongoing costs related to compliance with federal, state, or local environmental laws. From time to time, the ~~Financial~~Bank ~~Services~~originates ~~Industry~~loans with special environmental considerations. The Bank’s lending policy outlines policies and procedures related to loans with special environmental considerations, including the need to obtain phase I/II environmental assessments. Generally, the cost of these assessments is covered by the borrower.

~~Events~~Future ~~impacting the financial services industry may adversely affect the business of the Corporation and the market price of its common stock.~~Legislation

~~Developments~~Changes ~~and~~to ~~events in~~ the ~~financial~~laws ~~services industry, including the well-publicized failures of several institutions in 2023~~ and ~~more recently, have resulted~~regulations into ~~decreased~~which ~~confidence~~the inCorporation ~~banks among depositors, other counterparties~~ and ~~investors, as well as significant disruption and volatility of equity and other securities of banks in~~ the ~~capital~~Bank ~~markets.~~are ~~These~~subject ~~events~~can ~~have~~affect ~~occurred against~~ the ~~backdrop~~operating ~~of a heighted interest rate~~ environment ~~which,~~of ~~among~~both ~~other~~the ~~things,~~Corporation ~~has resulted in unrealized losses in longer duration securities~~ and ~~loans held by banks, and a corresponding decrease in shareholders’ equity and bank capital levels, impacting~~ the ~~dynamics~~Bank in ~~the competition for bank deposits,~~substantial and ~~may~~unpredictable ~~increase the risk of a potential recession~~ways. ~~These~~The ~~events and developments could materially and adversely impact the business or financial condition of the~~ Corporation, ~~including~~cannot ~~through~~accurately ~~potential~~predict ~~liquidity~~whether ~~pressures,~~those ~~reduced~~changes ~~net~~in ~~interest~~laws ~~margins,~~ and ~~potential~~regulations ~~increased credit~~will ~~losses. These events and developments have~~occur, and ~~could continue to~~, ~~adversely~~if ~~impact the market price and volatility~~those ~~of the Corporation’s common stock. These events may also result in~~ changes tooccur, ~~laws~~the orultimate ~~regulations~~effect ~~governing~~they ~~banks~~would ~~and~~have ~~bank~~upon ~~holding companies or result in~~ the ~~impositions~~financial ofcondition ~~restrictions through supervisory~~ or ~~enforcement~~results ~~activities,~~of ~~including~~operations ~~higher capital requirements, which could have a material impact on the businesses~~ of the Corporation. ~~The~~This ~~cost~~is also true of ~~resolving~~federal ~~the~~legislation ~~failures~~particularly ~~may~~given ~~prompt~~ the ~~FDIC~~current tovolatile ~~increase its premiums above the recently increased levels or to issue additional special assessments~~environment.

~~Risks~~Human ~~Relating~~Capital ~~to the Corporation’s Business~~Resources

~~Changes~~We inrecognize ~~economic~~the ~~conditions,~~importance of inhuman ~~particular~~capital resources as a cornerstone of our business. The Corporation’s key human capital management objectives are to attract and retain highly qualified individuals that fit our values and culture. The Corporation is an ~~economic~~Equal ~~slowdown~~Opportunity inand ~~central~~Affirmative ~~Pennsylvania~~Action Employer. We recruit, ~~could~~employ, ~~materially~~train, compensate, and ~~negatively~~promote ~~affect~~without ~~the~~regard ~~Corporation’s~~to ~~business~~race, religion, creed, color, national origin, age, gender, sexual orientation, gender identity, marital status, disability, veteran status, or any other basis protected by applicable federal, state or local law.

~~The~~Available ~~Corporation’s~~Information business is directly impacted by factors such as economic, political and market conditions, broad trends in industry and finance, legislative and regulatory changes, changes in government monetary and fiscal policies and inflation, all of which are beyond the Corporation’s control. Any deterioration in economic conditions, whether caused by national or local concerns, and in particular in Pennsylvania, could result in the following consequences, any of which could hurt the Corporation’s business materially: loan delinquencies may increase; problem assets and foreclosures may increase; demand for the Corporation’s products and services may decrease; low cost or noninterest bearing deposits may decrease; and collateral for loans made by the Corporation, especially real estate, may decline in value, reducing customers’ borrowing power and reducing the value of assets and collateral associated with the Corporation’s existing loans.

The Corporation files reports, proxy and information statements and other information electronically with the SEC. The SEC maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC. The SEC’s website address is https://www.sec.gov. The Corporation makes its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K and amendments thereto available through its website at https://www.journeybank.com. The information contained on our website is not included as a part of, or incorporated by reference in, this Annual Report on Form 10-K. These reports may also be obtained free of charge as soon as practicable after filing or furnishing them to the SEC upon request by sending an email to investorrelations@journeybank.com. Information may also be obtained via written request to Muncy Columbia Financial Corporation, Attention: Chief Financial Officer, 1199 Lightstreet Road, Bloomsburg, PA 17815.

An ~~economic~~Item downturn or prolonged recession would likely result in further deterioration of the quality of the Corporation’s loan portfolio and reduce the Corporation’s level of deposits, which in turn would hurt its business1A. IfRisk ~~the~~Factors Corporation experiences an economic downturn or a prolonged economic recession occurs in the economy as a whole, borrowers will be less likely to repay their loans as scheduled. Unlike many larger institutions, the Corporation is not able to spread the risks of unfavorable local economic conditions across a large number of diversified local economies. An economic downturn could, therefore, result in losses that materially and adversely affect the Corporation’s business.

The operations ~~small-~~and financial results of the Corporation are subject to various risks and ~~medium-sized~~uncertainties, ~~business~~including ~~target~~those described below. The risks and uncertainties described ~~market~~below are not the only ones the Corporation faces. Additional risks and uncertainties the Corporation is unaware of, or currently believes are not material, may ~~have~~also ~~fewer~~become important factors affecting the Corporation. If any of the following risks occur, the Corporation’s business, financial ~~resources~~condition, tooperating ~~weather~~results aand ~~downturn~~prospects incould be materially and adversely affected. In that event, the ~~economy~~price of the Corporation’s common stock could decline.

~~The~~Risks ~~Corporation~~Relating ~~targets its commercial development and marketing strategy~~ to ~~serve~~ the banking and financial services needs of small- and medium-sized businesses. These businesses generally have fewer financial resources in terms of capital or borrowing capacity than larger entities. If general economic conditions negatively impact this major economic sector in the markets in which the Corporation’s ~~operates, its results of operations and financial condition, as well as the value of its securities, may be adversely affected.~~Business

~~Competition~~Changes ~~with~~in ~~other~~economic ~~financial~~conditions, ~~institutions may~~in ~~have~~ particular an ~~adverse~~economic ~~effect~~slowdown onin ~~the~~central ~~Corporation’s ability to retain and grow its client base~~Pennsylvania, ~~which~~ could ~~have~~materially aand ~~negative~~negatively ~~effect~~affect ~~on its~~the ~~financial~~Corporation’s ~~condition or results of operations~~business.

The ~~banking~~Corporation’s ~~and financial~~business ~~services industry~~ is ~~very~~directly ~~competitive~~impacted ~~and~~by ~~includes~~factors ~~services~~such ~~offered~~as ~~from other banks~~economic, ~~savings~~political and ~~loan~~market ~~associations~~conditions, ~~credit~~broad ~~unions,~~trends ~~mortgage companies,~~in ~~other~~industry ~~lenders,~~ and ~~institutions~~finance, ~~offering uninsured investment alternatives. Legal~~ legislative and regulatory ~~developments~~changes, ~~have~~changes ~~made~~in ~~it easier~~government ~~for~~monetary ~~new~~ and ~~sometimes~~fiscal ~~unregulated~~policies ~~competitors~~and toinflation, ~~compete~~including, ~~with~~without limitation, the ~~Corporation.~~impacts of ~~The~~tariffs, ~~financial~~sanctions ~~services industry has~~ and isother ~~experiencing an~~trade ~~ongoing~~policies ~~trend~~of ~~towards~~the ~~consolidation~~United inStates, ~~which~~a ~~fewer~~deterioration ~~large~~of ~~national~~the ~~and~~credit ~~regional~~rating ~~banks~~for ~~and~~United ~~other~~States ~~financial institutions are replacing~~long-term ~~many~~sovereign ~~smaller~~debt ~~and~~or ~~more~~the ~~local~~impact ~~banks.~~of ~~These~~uncertain ~~larger~~or ~~banks~~changing ~~and~~political ~~other~~conditions, ~~financial~~including ~~institutions~~federal ~~hold~~government ashutdowns ~~large accumulation of assets~~ and ~~have~~uncertainty ~~significantly~~regarding ~~greater~~United ~~resources~~States ~~and~~fiscal adebt, ~~wider~~deficit ~~geographic~~and ~~presence~~budget ~~or greater accessibility. In some instances~~matters, ~~these~~all ~~larger~~of ~~entities~~which ~~operate~~are ~~without~~beyond the ~~traditional~~ ~~brick~~Corporation’s ~~and mortar facilities that restrict geographic presence~~control. ~~Some~~Any ~~competitors~~deterioration ~~have more aggressive marketing campaigns and~~in ~~better~~economic ~~brand recognition~~conditions, ~~and~~whether ~~are~~caused ~~able~~by tonational ~~offer~~or ~~more~~local ~~services~~concerns, ~~more~~and ~~favorable~~in ~~pricing~~particular orin ~~greater~~Pennsylvania, ~~customer~~could ~~convenience~~result ~~than~~in the ~~Corporation. In~~following ~~addition~~consequences, any ~~competition~~of ~~has~~which ~~increased~~could ~~from~~hurt ~~other banks and other financial services providers that target~~ the Corporation’s ~~existing or potential customers. As consolidation continues among large banks~~business, ~~the~~profitability ~~Corporation~~and ~~expects~~asset ~~other~~quality ~~smaller~~materially: ~~institutions~~loan todelinquencies ~~try~~may ~~to compete~~increase; inproblem ~~the~~assets ~~markets~~and ~~the~~foreclosures ~~Corporation~~may ~~plans~~increase; todemand ~~serve.~~for ~~This competition could reduce~~ the Corporation’s ~~net~~products ~~income~~and byservices ~~decreasing~~may ~~the~~decrease; ~~number and~~low ~~size~~cost ofor ~~the~~noninterest bearing ~~loans~~deposits ~~that~~may itdecrease; ~~originates~~ and ~~the~~collateral ~~interest~~for ~~rates~~loans itmade ~~charges~~by onthe ~~these loans. Additionally~~Corporation, ~~these~~especially ~~competitors~~real estate, may ~~offer~~decline ~~higher interest~~in ~~rates on deposits~~value, ~~which~~reducing customers’ ~~could~~borrowing ~~decrease~~power ~~the~~and ~~deposits~~reducing the ~~Corporation~~value ~~attracts~~of orassets ~~require~~and itcollateral toassociated ~~increase~~with ~~rates to retain existing deposits or attract new deposits. Increased deposit competition could adversely affect~~ the Corporation’s ~~ability~~existing ~~to generate the funds necessary for lending operations which could increase its cost of funds~~loans.

The financial services industry could become even more competitive as a result of legislative, regulatory and technological changes and continued consolidation. Banks, securities firms and insurance companies can merge as part of a financial holding company, which can offer virtually any type of financial service, including banking, securities underwriting, insurance (both agency and underwriting) and merchant banking. Technological developments have allowed competitors, including some non-depository institutions, to compete more effectively in local markets and has expanded the range of financial products, services and capital available to the Corporation’s target customers. If the Corporation is unable to implement, maintain and use such technologies effectively, it may not be able to offer products or achieve cost-efficiencies necessary to compete in the industry. In addition, some of these competitors have fewer regulatory constraints and lower cost structures.8

~~Liquidity~~An ~~needs~~economic ~~could~~downturn ~~adversely~~or ~~affect~~prolonged recession would likely result in further deterioration of the quality of the Corporation’s ~~financial~~loan ~~condition~~portfolio and ~~results~~reduce the Corporation’s level of ~~operation~~deposits, which in turn would hurt its business. If the Corporation experiences an economic downturn or a prolonged economic recession occurs in the economy as a whole, borrowers will be less likely to repay their loans as scheduled. Unlike many larger institutions, the Corporation is not able to spread the risks of unfavorable local economic conditions across a large number of diversified local economies. An economic downturn could, therefore, result in losses that materially and adversely affect the Corporation’s business.

The ~~primary~~small- ~~sources of funds of the Corporation are customer deposits~~ and ~~loan~~medium-sized ~~repayments.~~business ~~While scheduled loan repayments are a relatively stable source of funds,~~target ~~they~~market ~~are~~may ~~subject~~have tofewer ~~the~~financial ~~ability~~resources ~~of borrowers~~ to ~~repay~~weather ~~the loans. The ability of borrowers to repay loans can be adversely affected by~~ a ~~number~~downturn ~~of factors, including changes~~ in ~~economic~~the conditions, adverse trends or events affecting business industry groups, reductions in real estate values or markets, business closings or lay-offs, inclement weather, which could be exacerbated by potential climate change, natural disasters and international instabilityeconomy.

~~Additionally,~~The ~~deposit~~Corporation ~~levels may~~targets beits ~~affected~~commercial development byand amarketing ~~number~~strategy ofto ~~factors,~~serve ~~including~~the ~~rates~~banking ~~paid~~and byfinancial ~~competitors,~~services ~~general~~needs ~~interest~~of ~~rate~~small- ~~levels, regulatory capital requirements, returns available to customers on alternative investments~~ and ~~general~~medium-sized ~~economic conditions~~businesses. ~~Accordingly,~~These ~~the Corporation may be required~~businesses ~~from~~generally ~~time~~have tofewer ~~time~~financial toresources ~~rely~~in onterms ~~secondary sources~~ of ~~liquidity~~capital toor ~~meet~~borrowing ~~withdrawal~~capacity ~~demands~~than orlarger ~~otherwise fund operations~~entities. ~~Such~~If ~~sources~~general ~~include~~economic conditions ~~proceeds~~negatively ~~from~~impact ~~Federal~~this ~~Home~~major ~~Loan~~economic ~~Bank~~sector ~~advances,~~in ~~sales~~the ofmarkets ~~investment~~in ~~securities~~which ~~and~~the ~~loans~~Corporation operates, ~~and~~its ~~federal~~results ~~funds lines~~ of ~~credit~~operations ~~from~~and ~~correspondent~~financial ~~banks~~condition, as well as ~~out-of-market time deposits. While~~ the ~~Corporation~~value ~~believes~~of ~~that~~its ~~these sources are currently adequate~~securities, ~~there can be no assurance they will be sufficient to meet future liquidity demands, particularly if the Corporation continues to grow and experience increasing loan demand. The Corporation~~ may be ~~required~~adversely ~~to slow or discontinue loan growth, capital expenditures or other investments or liquidate assets should such sources not be adequate~~affected.

9Competition with other financial institutions may have an adverse effect on the Corporation’s ability to retain and grow its client base, which could have a negative effect on its financial condition or results of operations.

~~Changes~~The banking and financial services industry is very competitive and includes services offered from other banks, savings and loan associations, credit unions, mortgage companies, other lenders, and institutions offering uninsured investment alternatives. Legal and regulatory developments have made it easier for new and sometimes unregulated competitors to compete with the Corporation. The financial services industry has and is experiencing an ongoing trend towards consolidation in ~~prevailing~~which fewer large national and regional banks and other financial institutions are replacing many smaller and more local banks. These larger banks and other financial institutions hold a large accumulation of assets and have significantly greater resources and a wider geographic presence or greater accessibility. In some instances, these larger entities operate without the traditional brick and mortar facilities that restrict geographic presence. Some competitors have more aggressive marketing campaigns and better brand recognition, and are able to offer more services, more favorable pricing or greater customer convenience than the Corporation. In addition, competition has increased from other banks and other financial services providers that target the Corporation’s existing or potential customers. As consolidation continues among large banks, the Corporation expects other smaller institutions to try to compete in the markets the Corporation plans to serve. This competition could reduce the Corporation’s net income by decreasing the number and size of the loans that it originates and the interest rates it charges on these loans. Additionally, these competitors may offer higher ~~reduce~~interest rates on deposits, which could decrease the deposits the Corporation attracts or require it to increase rates to retain existing deposits or attract new deposits. Increased deposit competition could adversely affect the Corporation’s ~~profitability~~ability to generate the funds necessary for lending operations which could increase its cost of funds.

The ~~Corporation’s~~financial ~~results~~services industry ofcould ~~operations~~become ~~depend~~even inmore ~~large~~competitive ~~part~~as ~~upon~~a ~~the~~result ~~level~~ of ~~its net interest income~~legislative, ~~which~~regulatory isand ~~the~~technological ~~difference~~changes ~~between~~and ~~interest~~continued ~~income~~consolidation. ~~from interest-earning assets~~Banks, securities ~~such~~firms asand ~~loans~~insurance ~~and~~companies ~~investment~~can ~~securities,~~merge ~~and~~as ~~interest~~part ~~expense~~of ona ~~interest-bearing~~financial ~~liabilities~~holding company, ~~such~~which ascan ~~deposits~~offer ~~and~~virtually ~~other~~any ~~borrowings. Depending~~type onof ~~the~~financial service, ~~terms~~including ~~and~~banking, ~~maturities~~securities ofunderwriting, ~~the~~insurance ~~Corporation’s~~(both ~~assets~~agency and ~~liabilities,~~underwriting) aand ~~significant~~merchant ~~change~~banking. inTechnological ~~interest rates could~~developments have aallowed ~~material~~competitors, ~~adverse~~including ~~effect~~some onnon-depository ~~its~~institutions, ~~profitability.~~to ~~Many~~compete ~~factors~~more ~~cause~~effectively ~~changes~~ in ~~interest~~local ~~rates,~~markets ~~including~~and ~~governmental~~has ~~monetary~~expanded ~~policies~~the ~~and~~range ~~domestic~~of ~~and~~financial ~~international~~products, ~~economic~~services and ~~political~~capital ~~conditions.~~available ~~While~~to the Corporation’s ~~intends~~target tocustomers. ~~manage~~If the ~~effects~~Corporation ofis ~~changes~~unable to inimplement, ~~interest rates~~maintain byand ~~adjusting~~use ~~the~~such ~~terms,~~technologies ~~maturities~~effectively, ~~and~~it ~~pricing~~may ofnot ~~its~~be ~~assets~~able ~~and~~to ~~liabilities,~~offer ~~its~~products ~~efforts~~or ~~may~~achieve ~~not~~cost-efficiencies benecessary to ~~effective,~~compete ~~and~~in ~~its~~the ~~financial condition~~industry. ~~and~~In ~~results~~addition, some of ~~operations~~these ~~could~~competitors ~~suffer~~have fewer regulatory constraints and lower cost structures.

~~The~~Liquidity ~~Corporation~~needs ~~may~~could ~~not~~adversely beaffect ~~able~~the ~~to adequately~~Corporation’s ~~anticipate~~financial condition and ~~respond~~results toof ~~changes in market interest rates~~operation.

The ~~Corporation~~primary ~~may~~sources beof ~~unable~~funds of tothe ~~anticipate~~Corporation ~~changes in market interest rates, which~~ are ~~affected~~customer bydeposits ~~many factors beyond its control including, but not limited to, inflation, recession, unemployment, money supply, monetary policy,~~ and ~~other~~loan ~~changes that affect financial markets, both domestic and foreign~~repayments. ~~The Corporation’s~~While ~~net~~scheduled ~~interest~~loan ~~income~~repayments isare ~~affected~~a ~~not~~relatively ~~only~~stable bysource ~~the level and direction~~ of ~~interest rates~~funds, ~~but~~they are ~~also~~subject byto the ~~shape~~ability of ~~the yield~~borrowers ~~curve~~to ~~and~~repay ~~relationships~~the ~~between~~loans. ~~interest~~The ~~sensitive~~ability ~~instruments~~of ~~and~~borrowers ~~key~~to ~~index~~repay ~~rates,~~loans ascan ~~well~~be asadversely ~~balance~~affected ~~sheet~~by ~~growth,~~a ~~customer loan~~number ~~and~~of ~~deposit preferences~~factors, ~~and~~including ~~the timing of~~ changes in ~~these~~economic ~~variables. In the event interest rates increase~~conditions, ~~the~~adverse ~~Corporation’s~~trends ~~interest costs~~or onevents ~~liabilities~~affecting ~~may~~business ~~increase~~industry ~~more rapidly than its income on interest earning assets~~groups, ~~resulting~~reductions in areal estate ~~deterioration~~values ofor ~~its~~markets, ~~net~~business ~~interest margin.~~closings Asor ~~such~~lay-offs, ~~fluctuations~~inclement inweather, ~~interest~~which ~~rates~~ could ~~have~~be aexacerbated ~~material~~by ~~adverse~~potential ~~effect~~climate onchange, ~~the~~natural disasters ~~Corporation’s financial condition~~ and ~~results~~ ofinternational ~~operations~~instability.

~~Significant~~Additionally, ~~increases~~deposit inlevels ~~interest~~may be affected by a number of factors, including rates paid by competitors, general interest rate levels, regulatory capital requirements, returns available to customers on alternative investments and general economic conditions. Accordingly, the Corporation may ~~affect~~be ~~customer~~required from time to time to rely on secondary sources of liquidity to meet withdrawal demands or otherwise fund operations. Such sources include proceeds from Federal Home Loan Bank advances, sales of investment securities and loans, and federal funds lines of credit from correspondent banks, as well as out-of-market time deposits. While the Corporation believes that these sources are currently adequate, there can be no assurance they will be sufficient to meet future liquidity demands, particularly if the Corporation continues to grow and experience increasing loan demand. ~~and~~The ~~payment~~Corporation ~~habits~~may be required to slow or discontinue loan growth, capital expenditures or other investments or liquidate assets should such sources not be adequate.

Significant increases in market interest rates, or the perception that an increase may occur, could adversely impact the Bank’s ability to generate new loans. An increase in market interest rates may also adversely impact the ability of adjustable-rate borrowers to meet repayment obligations, thereby causing nonperforming loans and loan charge-offs to increase in these mortgage products.9

IfChanges ~~the~~in ~~Bank’s~~prevailing ~~loan~~interest ~~growth~~rates ~~exceeds that~~may ~~of its deposit growth, then~~ reduce the ~~Bank~~Corporation’s ~~may be required to obtain higher cost sources of funds~~profitability.

~~Our~~The ~~growth~~Corporation’s ~~strategy depends~~results ~~upon~~of ~~generating~~operations andepend ~~increasing~~in large part upon the level of ~~loans~~its atnet interest income, which is the ~~Bank~~difference ~~while~~between ~~maintaining~~interest aincome ~~low~~from ~~level~~interest-earning assets, ofsuch ~~loan~~as ~~losses~~loans ~~for~~and ~~the~~investment ~~Bank.~~securities, Asand ~~the~~interest ~~Bank’s loans~~expense ~~grow~~on interest-bearing liabilities, itsuch isas ~~necessary~~deposits ~~for~~and other borrowings. Depending on the ~~Bank~~terms and maturities of the Corporation’s ~~deposits~~assets toand ~~grow~~liabilities, at a ~~comparable~~significant ~~pace~~change in ~~order~~interest torates ~~avoid~~could have ~~the~~a ~~need~~material ~~for~~adverse ~~the~~effect ~~Bank~~on toits ~~obtain~~profitability. Many factors cause changes in interest rates, including governmental monetary policies ~~other~~and ~~sources~~domestic ofand ~~loan~~international ~~funds~~economic atand ~~higher~~political ~~costs~~conditions. IfWhile the ~~Bank’s~~Corporation ~~loan~~intends ~~growth~~to ~~exceeds~~manage the ~~deposit~~effects ~~growth,~~of ~~the~~changes ~~Bank~~in ~~may~~interest rates ~~have~~by toadjusting ~~obtain~~the ~~other sources~~terms, maturities, and pricing of ~~funds~~its atassets ~~higher~~and ~~costs~~liabilities, ~~which~~its ~~could~~efforts ~~adversely~~may ~~affect~~not ~~our~~be ~~earnings~~effective, and its financial condition and results of operations could suffer.

The Corporation’s ~~decisions~~may ~~regarding allowance~~not ~~for~~be ~~credit~~able ~~losses~~to adequately anticipate and ~~credit~~respond ~~risk~~to ~~may~~changes ~~materially~~in ~~and~~market ~~adversely~~interest ~~affect its business~~rates.

~~Making~~The ~~loans~~Corporation may be unable to anticipate changes in market interest rates, which are affected by many factors beyond its control including, but not limited to, inflation, recession, unemployment, money supply, monetary policy, and other ~~extensions of~~changes ~~credit~~that isaffect anfinancial ~~essential~~markets, ~~element~~both ofdomestic ~~the~~and foreign. The Corporation’s ~~business.~~net ~~Although~~interest income is affected not only by the ~~Corporation~~level ~~seeks~~and todirection ~~mitigate~~of ~~risks~~interest ~~inherent~~rates, inbut ~~lending~~ also by ~~adhering~~the toshape ~~specific~~of ~~underwriting~~the yield ~~practices~~curve and relationships between interest sensitive instruments and key index rates, as well as balance sheet growth, customer loan and deposit preferences, and the timing of changes in these variables. In the event interest rates increase, the Corporation’s ~~loans~~interest costs ~~and~~on ~~other~~liabilities ~~extensions~~may ofincrease ~~credit~~more ~~may~~rapidly ~~not~~than beits ~~repaid.~~income ~~The~~on ~~risk of~~interest ~~nonpayment~~earning isassets, ~~affected~~resulting byin a ~~number~~deterioration of ~~factors~~its net interest margin. As such, ~~including:~~ fluctuations in interest rates could have a material adverse effect on the Corporation’s financial condition and results of operations.

●Significant ~~the~~increases ~~duration~~in ofinterest ~~the~~rates ~~credit;~~may affect ~~● credit risks of a particular~~ customer; ●loan ~~changes~~demand ~~in economic~~ and ~~industry~~payment ~~conditions; and ● in the case of a collateralized loan, risks resulting from uncertainties about the future value of the collateral~~habits.

~~The~~Significant ~~Corporation~~increases ~~attempts~~in market tointerest ~~maintain~~rates, or the perception that an ~~appropriate~~increase ~~allowance~~may ~~for~~occur, ~~credit~~could ~~losses~~adversely impact the Bank's ability to ~~provide~~generate ~~for~~new ~~probable~~loans. ~~losses~~An increase in ~~its~~market ~~loan~~interest ~~portfolio.~~rates ~~The~~may ~~Corporation~~also ~~periodically determines~~adversely impact the ~~amount~~ability of ~~the~~adjustable-rate ~~allowance~~borrowers ~~based~~to onmeet ~~consideration~~repayment ofobligations, ~~several~~thereby ~~factors,~~causing nonperforming ~~including~~loans ~~but~~and ~~not~~loan ~~limited~~charge-offs to: increase in these mortgage products.

●If ~~an ongoing review of~~ the ~~quality, mix, and size of the Corporation~~Bank’s ~~overall~~ loan ~~portfolio;~~growth ●exceeds ~~the Corporation’s historical loan loss experience; ● evaluation~~ that of ~~current~~its ~~and~~deposit ~~future~~growth, ~~economic~~then ~~conditions;~~the ●Bank ~~regular~~may ~~reviews~~be ofrequired ~~loan~~to ~~delinquencies~~obtain ~~and~~higher ~~loan~~cost ~~portfolio~~sources ~~quality; ● ongoing review~~ of ~~financial information provided by borrowers; and ● the amount and quality of collateral, including guarantees, securing the loans~~funds.

~~The~~Our ~~determination~~growth ofstrategy ~~the~~depends upon ~~appropriate~~generating an increasing level of ~~the~~loans ~~allowance~~at ~~for~~the ~~credit~~Bank ~~losses~~while ~~inherently~~maintaining ~~involves~~ a ~~high~~low ~~degree~~level of ~~subjectivity~~loan ~~and~~losses ~~requires~~for the ~~Corporation to make significant estimates of current credit risks and future trends, all of which may undergo material changes~~Bank. ~~Deterioration~~As ~~in economic conditions affecting borrowers, new information regarding existing loans, identification of additional problem loans and other factors, both within and outside of~~ the ~~Corporation~~Bank’s ~~control~~loans grow, ~~may~~it ~~require~~is annecessary ~~increase in the allowance~~ for ~~credit losses. In addition, regulatory agencies periodically review~~ the ~~Corporation~~Bank’s ~~allowance~~deposits ~~for~~to ~~credit~~grow ~~losses~~at ~~and~~a ~~may~~comparable ~~require~~pace anin ~~increase~~order into avoid the ~~provision~~need for ~~credit losses~~the orBank ~~the~~to ~~recognition~~obtain other sources of ~~further~~ loan ~~charge-offs,~~funds ~~based~~at onhigher ~~judgments different than those of management~~costs. If ~~charge-offs~~the inBank’s ~~future periods~~loan ~~exceed~~growth exceeds the ~~allowance~~deposit ~~for credit losses~~growth, the ~~Corporation~~Bank ~~will~~may ~~need~~have ~~additional provisions~~ to ~~increase~~obtain ~~the~~other ~~allowance for credit losses.~~sources ~~Any~~of ~~increases~~funds inat ~~the~~higher ~~allowance~~costs ~~for~~which ~~credit~~could ~~losses~~adversely ~~will~~affect ~~result~~our ~~in a decrease in net income and, possibly, capital, and may have a material adverse effect on the Corporation’s financial condition and results of operations~~earnings.

10The Corporation’s decisions regarding allowance for credit losses and credit risk may materially and adversely affect its business.

~~The~~Making ~~Corporation~~loans ~~may~~and ~~have~~other ~~higher~~extensions of credit ~~losses than~~is itan ~~has~~essential ~~allowed~~element ~~for~~of the Corporation’s business. Although the Corporation seeks to mitigate risks inherent in ~~its~~lending by ~~allowance~~adhering ~~for~~to specific underwriting practices, the Corporation’s loans and other extensions of credit ~~losses~~may not be repaid. The risk of nonpayment is affected by a number of factors, including:

~~The~~· Corporation’s actual credit losses could exceed its allowance for credit losses and therefore its allowance for credit losses may not be adequate. Industry experience shows that a portion of loans will become delinquent and a portion of loans will require partial or entire charge-off. Regardless of the ~~underwriting~~duration ~~criteria utilized, losses may be experienced as a result~~ of ~~various factors beyond~~ the ~~Corporation’s control, including among other things, changes in market conditions affecting the value of loan collateral and problems affecting borrower~~ credit.;

~~Our~~· ~~reliance~~credit ~~upon~~risks ~~the accuracy and completeness~~ of ~~information~~a ~~about~~particular ~~customers and counterparties could adversely affect our financial condition and results of operations.~~customer;

In· ~~deciding~~changes ~~whether~~in toeconomic ~~extend credit or enter into other transactions with customers~~ and ~~counterparties,~~industry weconditions; ~~rely upon information furnished by or on behalf of customers~~ and counterparties, including financial statements, credit reports and other financial information. We also may rely upon representations of those customers and counterparties, or third parties such as auditors or appraisers, as to the accuracy and completeness of that information. If this information is inaccurate, we could experience a material adverse impact on our results of operations and financial condition.

~~Adverse~~· ~~changes~~ in the ~~market~~case ~~value~~ of ~~securities and~~a ~~investments~~collateralized ~~that~~loan, werisks ~~manage~~resulting ~~for~~from ~~others~~uncertainties ~~may~~about ~~negatively impact~~ the ~~growth~~future ~~level~~value of the ~~Bank’s non-interest income~~collateral.

The ~~Bank~~Corporation ~~provides~~attempts ato ~~broad~~maintain ~~range~~an ofappropriate ~~trust~~allowance ~~and investment management services~~ for ~~estates,~~credit ~~trusts,~~losses ~~agency~~to ~~accounts,~~provide ~~and~~for ~~individual~~probable ~~and~~losses ~~employer~~in ~~sponsored~~its ~~retirement plans~~loan portfolio. The ~~market~~Corporation ~~value~~periodically ~~of the securities and investments managed by the Bank may decline due to factors outside the Bank’s control.~~determines ~~Any such adverse changes in~~ the ~~market~~amount ~~value~~ of the ~~securities~~allowance ~~and~~based ~~investments~~on ~~could~~consideration ~~negatively impact the growth~~ of ~~the~~several ~~non-interest income~~factors, ~~generated~~including ~~from~~but ~~providing~~not ~~these~~limited ~~services.~~to:

~~The~~· ~~Bank’s~~an ~~branch~~ongoing ~~locations~~review ~~may~~of ~~be negatively~~the ~~affected~~quality, bymix, ~~changes~~and insize ~~demographics.~~of the Corporation’s overall loan portfolio;

~~The~~· ~~Bank has strategically selected locations for bank branches based upon regional demographics. Any changes in regional demographics may impact~~ the ~~Bank~~Corporation’s ~~ability~~ tohistorical ~~reach~~loan orloss maintain profitability at its branch locations. Changes in regional demographics may also affect the perceived benefits of certain branch locations and management may be required to reduce the number of locations of its branches.experience;

~~The~~· ~~Corporation~~evaluation isof ~~subject~~current ~~to extensive government regulation~~ and ~~supervision~~future ~~that~~economic could interfere with its ability to conduct its business and may negatively impact its financial results, restrict its activities, have an adverse impact on its operations, and impose financial requirements or limitations on the conduct of its business.conditions;

~~The~~· ~~Corporation,~~regular ~~primarily through~~reviews the Bank, is subject to extensive federal and state regulation and supervision. Banking regulations are primarily intended to protect depositors’ funds, the Federal Deposit Insurance Fund and the safety and soundness of ~~the~~loan ~~banking~~delinquencies ~~system as a whole, not stockholders. These regulations affect the Corporation’s lending practices, capital structure, investment practices, dividend policy~~ and ~~growth, among~~loan ~~other~~portfolio things. Congress and federal regulatory agencies continually review banking laws, regulations and policies for possible changes. Changes to statutes, regulations or regulatory policies, including changes in interpretation or implementation of statutes, regulations or policies, could affect the Corporation in substantial and unpredictable ways. Such changes could subject the Corporation to additional costs, limit the types of financial services and products it may offer, and/or limit the pricing it may charge on certain banking services, among other things. The Corporation will have to apply resources to ensure that it is in compliance with any changes to statutes, regulations or regulatory policies, including changes in interpretations or implementation, which may increase its costs of operations and adversely impact its earnings.quality;

~~The~~· ~~Corporation~~ongoing ~~faces~~review ~~a risk~~ of ~~noncompliance and~~financial ~~enforcement~~information ~~action~~provided ~~with~~by ~~the~~borrowers; ~~Bank Secrecy Act~~ and ~~other anti-money laundering statutes and regulations.~~

~~The~~· ~~Bank Secrecy Act, as amended by~~ the ~~Uniting~~amount and ~~Strengthening~~quality ~~America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act~~ of ~~2001~~collateral, which we refer to as the Patriot Act, and other laws and regulations require financial institutions, among other duties, to institute and maintain effective anti-money laundering programs and file suspicious activity and currency transaction reports as appropriate. The Financial Crimes Enforcement Network, established by the U.S. Treasury to administer the Bank Secrecy Act, is authorized to impose significant civil money penalties for violations of those requirements and has recently engaged in coordinated enforcement efforts with the individual federal banking regulators, as well as the U.S. Department of Justice, Drug Enforcement Administration and Internal Revenue Service. There is also increased scrutiny of compliance with the rules enforced by the Office of Foreign Assets Control, which we refer to as OFAC. Over the past several years, federal and state bank regulators also have increased their focus on compliance with Bank Secrecy Act and anti-money laundering regulations. If the Corporation’s policies, procedures and systems are deemed deficient or the policies, procedures and systems of the financial institutions that it has already acquired or may acquire in the future are deficient, it would be subject to liability, including ~~fines and regulatory actions such as restrictions on its ability to pay dividends and the necessity to obtain regulatory approvals to proceed with certain aspects of its business plan~~guarantees, ~~including~~securing its acquisition plans, which would negatively impact its business, financial condition and results of operations. Failure to maintain and implement adequate programs to combat money laundering and terrorist financing could also have serious reputational consequences for the ~~Corporation~~loans.

11The determination of the appropriate level of the allowance for credit losses inherently involves a high degree of subjectivity and requires the Corporation to make significant estimates of current credit risks and future trends, all of which may undergo material changes. Deterioration in economic conditions affecting borrowers, new information regarding existing loans, identification of additional problem loans and other factors, both within and outside of the Corporation’s control, may require an increase in the allowance for credit losses. In addition, regulatory agencies periodically review the Corporation’s allowance for credit losses and may require an increase in the provision for credit losses or the recognition of further loan charge-offs, based on judgments different than those of management. If charge-offs in future periods exceed the allowance for credit losses, the Corporation will need additional provisions to increase the allowance for credit losses. Any increases in the allowance for credit losses will result in a decrease in net income and, possibly, capital, and may have a material adverse effect on the Corporation’s financial condition and results of operations.

Regulations relating to privacy, information security and data protection could increase the Corporation’s costs, affect or limit how it collects and uses personal information and adversely affect its business opportunities.10

The Corporation ismay ~~subject to~~have ~~various~~higher ~~privacy,~~credit ~~information security and data protection laws, including requirements concerning security breach notification, and~~losses itthan could be negatively impacted by these laws. For example, the Corporation’s business is subject to the Financial Services Modernization Act of 1999, also known as the Gramm-Leach-Bliley Act, which, among other things: (i) imposes certain limitations on its ability to share nonpublic personal information about its customers with nonaffiliated third parties; (ii) requires that it ~~provide~~has ~~certain~~allowed disclosures to customers about its information collection, sharing and security practices and afford customers the right to “opt out” of any information sharing by the Corporation with nonaffiliated third parties (with certain exceptions) and (iii) requires it to develop, implement and maintain a written comprehensive information security program containing safeguards appropriately based on its size and complexity, the nature and scope of its activities, and the sensitivity of customer information it processes, as well as plans for responding to data security breaches. Various state and federal banking regulators have also enacted data security breach notification requirements with varying levels of individual, consumer, regulatory or law enforcement notification in certain circumstances in the event of a security breach. This includes increased privacy-related enforcement activity at the federal level, by the Federal Trade Commission, as well as at the state level, such as with regard to mobile applications. Moreover, legislators and regulators in the United States are increasingly adopting or revising privacy, information security and data protection laws that potentially could have a significant impact on the Corporation’s current and planned privacy, data protection and information security-related practices, the Corporation’s collection, use, sharing, retention and safeguarding of consumer or employee information, and some of its ~~current~~allowance orfor ~~planned~~credit ~~business activities~~losses. ~~This could also increase the Corporation’s costs of compliance and business operations and could reduce income from certain business initiatives.~~

~~Compliance~~The ~~with~~Corporation’s ~~current or~~actual ~~future~~credit ~~privacy,~~losses ~~data~~could ~~protection~~exceed ~~and~~its ~~information~~allowance ~~security~~for ~~laws~~credit ~~(including~~losses ~~those~~and ~~regarding~~therefore ~~security~~its ~~breach~~allowance ~~notification)~~for ~~affecting~~credit ~~customer or~~losses ~~employee~~may ~~data~~not tobe ~~which~~adequate. ~~the~~Industry experience ~~Corporation~~shows isthat ~~subject~~a ~~could~~portion ~~result~~of inloans ~~higher~~will ~~compliance~~become ~~and~~delinquent ~~technology costs~~ and ~~could restrict its ability to provide certain products and services, which could have~~ a ~~material~~portion ~~adverse~~of ~~effect~~loans onwill ~~its~~require ~~business,~~partial ~~financial condition~~ or ~~results~~entire ~~of operations~~charge-off. ~~The~~Regardless of ~~Corporation’s~~the ~~failure~~underwriting tocriteria ~~comply with privacy~~utilized, ~~data~~losses ~~protection~~may ~~and~~be ~~information~~experienced ~~security~~as ~~laws~~a ~~could~~ result inof ~~potentially significant~~various ~~regulatory~~factors orbeyond ~~governmental~~the ~~investigations~~Corporation’s ~~or actions~~control, including ~~litigation,~~among ~~fines,~~other ~~sanctions and damage to its reputation~~things, ~~which~~changes ~~could have~~in amarket ~~material~~conditions ~~adverse~~affecting ~~effect~~the onvalue ~~its business, results~~ of ~~operations,~~loan ~~financial~~collateral ~~condition,~~ and ~~the~~problems ~~value~~affecting ofborrower ~~its securities~~credit.

~~The~~Our ~~Corporation’s~~reliance ~~use~~upon ofthe ~~third-party vendors~~accuracy and ~~other~~completeness of ~~ongoing~~information ~~third-party~~about ~~business~~customers ~~relationships~~and ~~are~~counterparties ~~subject~~could toadversely ~~increasing~~affect ~~regulatory~~our ~~requirements~~financial condition and ~~attention~~results of operations.

~~The~~In ~~Corporation~~deciding ~~regularly uses~~whether ~~third~~to ~~party~~extend credit ~~vendors~~or asenter ~~part~~into ofother ~~its~~transactions ~~business. The Corporation also has substantial ongoing business relationships~~ with ~~other~~customers ~~third parties.~~and ~~These~~counterparties, ~~types~~we ofrely ~~third-party~~upon ~~relationships~~information ~~are~~furnished ~~subject to increasingly demanding regulatory requirements and attention~~ by ~~the~~or ~~Corporation’s federal~~on ~~bank~~behalf ~~regulators.~~of ~~Regulatory guidance requires all banking organizations to enhance due diligence, ongoing~~customers ~~monitoring~~ and ~~control~~counterparties, ~~over~~including ~~organizations’~~financial ~~third-party~~statements, ~~vendors~~credit reports and other ~~ongoing~~financial ~~third-party business relationships~~information. ~~The~~We ~~Corporation expects~~also ~~that~~may ~~its~~rely ~~regulators~~upon ~~will hold it responsible for any deficiencies in its oversight and control~~ representations of ~~its~~those ~~third-party~~customers ~~relationships~~ and ~~in the performance of the parties with which it has these relationships. As a result~~counterparties, ~~if the Corporation’s regulators conclude that it has not exercised adequate oversight and control over its third party vendors~~ or ~~other ongoing~~ third ~~party~~parties ~~business relationships or that~~ such ~~third~~as ~~parties~~auditors ~~have~~or ~~not~~appraisers, ~~performed~~as ~~appropriately,~~to the ~~Corporation~~accuracy ~~could~~and becompleteness ~~subject~~of tothat ~~enforcement actions, including civil~~information. ~~money~~If ~~penalties~~this orinformation ~~other~~is ~~administrative or judicial penalties or fines as well as requirements for customer remediation~~inaccurate, ~~any~~we ~~of which~~ could ~~have~~experience a material adverse ~~effect~~impact on ~~its~~our ~~business,~~ results of operations, ~~financial condition,~~ and ~~the~~financial ~~value of its securities~~condition.

~~Technological~~Adverse ~~advances~~changes ~~impact~~in the ~~Corporation’s~~market value of securities ~~business;~~and ~~its~~investments ~~information~~that ~~systems~~we manage for others may ~~experience~~negatively animpact ~~interruption~~the orgrowth ~~breach~~level inof ~~security~~the Bank’s non-interest income.

ToThe ~~conduct~~Bank ~~the~~provides ~~Corporation’s business,~~a itbroad ~~relies~~range of ~~heavily~~trust onand ~~new~~investment ~~technology-driven~~management ~~products~~services ~~and~~for ~~services~~estates, ~~communications and information systems. The Corporation’s future success will depend~~trusts, inagency ~~part~~accounts, onand ~~its~~individual ~~ability to address the needs of the Corporation’s customers by using technology to provide products~~ and ~~services~~employer ~~that~~sponsored ~~will~~retirement ~~satisfy customer demands for convenience as well as to create additional efficiencies in operations~~plans. ~~Any~~ ~~failure,~~The ~~interruption~~market orvalue ~~breach~~ of the ~~security~~securities ~~of the Corporation’s information systems could result in failures or disruptions in its customer relationship management, general ledger, deposit, loan~~ and ~~other~~investments ~~systems.~~managed ~~While~~by the ~~Corporation~~Bank ~~has~~may ~~policies~~decline ~~and~~due ~~procedures designed~~ to ~~prevent~~factors oroutside ~~limit~~ the ~~effect of the failure, interruption or security breach of the Corporation~~Bank’s ~~information~~control. ~~systems,~~Any ~~there can be no assurance that the Corporation can prevent any~~ such ~~failures,~~adverse ~~interruptions~~changes orin ~~security breaches or, if they do occur, that they will be adequately addressed. During~~ the ~~normal~~market ~~course~~value of the ~~Corporation’s~~securities ~~business, it has experienced~~ and itinvestments ~~expects to~~could ~~continue~~negatively toimpact ~~experience attempts to breach its systems, none of which has been material to~~ the ~~Corporation~~growth ~~to date, and it may be unable to protect sensitive data and the integrity~~ of ~~its systems. The occurrence of any failures, interruptions or security breaches of~~ the ~~Corporation’s~~ ~~information~~non-interest ~~systems could damage its reputation, result in a loss of customer business, subject it to additional regulatory~~income ~~scrutiny,~~generated orfrom ~~expose~~providing itthese ~~to civil litigation and possible financial liability, any of which could have a material adverse effect on its financial condition and results of operations as well as the value of its securities~~services.

12The Bank’s branch locations may be negatively affected by changes in demographics.

The ~~Corporation’s~~Bank ~~controls~~has ~~and~~strategically ~~procedures~~selected locations for bank branches based upon regional demographics. Any changes in regional demographics may ~~fail~~impact the Bank’s ability to reach or maintain profitability at its branch locations. Changes in regional demographics may also affect the perceived benefits of certain branch locations and management may be ~~circumvented~~required to reduce the number of locations of its branches.

The Corporation ~~regularly reviews~~is ~~and~~subject ~~updates~~to ~~its~~extensive ~~internal~~government regulation ~~controls, disclosure controls~~ and ~~procedures,~~supervision ~~and~~that ~~corporate~~could ~~governance~~interfere ~~policies~~with ~~and~~its ~~procedures.~~ability ~~Any~~to ~~system of~~conduct ~~controls,~~its ~~however~~business ~~well-designed~~ and ~~operated,~~may isnegatively ~~based~~impact inits ~~part~~financial ~~on certain assumptions and can provide only reasonable~~results, restrict ~~not~~its ~~absolute~~activities, ~~assurances~~ ~~that~~have ~~the~~an ~~objectives~~adverse ofimpact ~~the~~on ~~system~~its ~~are~~operations, ~~met.~~and ~~Any~~impose ~~failure~~financial requirements or ~~circumvention~~limitations ofon the ~~Corporation’s~~conduct ~~controls and procedures~~of ~~or failure to comply with regulations related to controls and procedures could have a material adverse effect on~~ its business~~, results of operations and financial condition~~.

~~Negative~~The ~~public~~Corporation, ~~opinion~~primarily ~~surrounding~~through the Bank, is subject to extensive federal and state regulation and supervision. Banking regulations are primarily intended to protect depositors’ funds, the Federal Deposit Insurance Fund and the safety and soundness of the banking system as a whole, not stockholders. These regulations affect the Corporation’s lending practices, capital structure, investment practices, dividend policy and growth, among other things. Congress and federal regulatory agencies continually review banking laws, regulations and policies for possible changes. Changes to statutes, regulations or regulatory policies, including changes in interpretation or implementation of statutes, regulations or policies, could affect the ~~financial~~Corporation ~~institutions~~in ~~industry~~substantial ~~generally~~and unpredictable ways. Such changes could ~~damage~~subject the Corporation to additional costs, limit the types of financial services and products it may offer, and/or limit the pricing it may charge on certain banking services, among other things. The Corporation will have to apply resources to ensure that it is in compliance with any changes to statutes, regulations or regulatory policies, including changes in interpretations or implementation, which may increase its ~~reputation~~costs of operations and adversely impact its earnings.

~~Reputation~~The ~~risk,~~Corporation orfaces ~~the~~a risk to the Corporation’s business, earnings and capital from negative public opinion surrounding the Corporation and the financial institutions industry generally, is inherent in its business. Negative public opinion can result from the Corporation’s actual or alleged conduct in any number of ~~activities, including lending practices, corporate governance and acquisitions, and from actions taken by government~~noncompliance ~~regulators~~ and ~~community~~enforcement ~~organizations~~action inwith ~~response to those activities. Negative public opinion regarding~~ the ~~banking~~Bank ~~and~~Secrecy ~~financial~~Act services industries generally, such as the public reaction to the recent banking failures, also can negatively affect the Corporation. Negative public opinion can adversely affect the Corporation’s ability to keep and ~~attract~~other ~~clients~~anti-money ~~and~~laundering ~~employees~~statutes and ~~can expose it to litigation and regulatory action~~regulations. ~~Although the Corporation takes steps to minimize reputation risk in dealing with its clients and communities, this risk will always be present given the nature of its business.~~

The ~~Corporation~~Bank ~~relies~~Secrecy ~~heavily~~Act, as amended by the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, which we refer to as the Patriot Act, and other laws and regulations require financial institutions, among other duties, to institute and maintain effective anti-money laundering programs and file suspicious activity and currency transaction reports as appropriate. The Financial Crimes Enforcement Network, established by the U.S. Treasury to administer the Bank Secrecy Act, is authorized to impose significant civil money penalties for violations of those requirements and has recently engaged in coordinated enforcement efforts with the individual federal banking regulators, as well as the U.S. Department of Justice, Drug Enforcement Administration and Internal Revenue Service. There is also increased scrutiny of compliance with the rules enforced by the Office of Foreign Assets Control, which we refer to as OFAC. Over the past several years, federal and state bank regulators also have increased their focus on ~~its~~compliance ~~senior~~with Bank Secrecy ~~management~~Act ~~team~~and anti-money laundering regulations. If the Corporation’s policies, procedures and systems are deemed deficient or the ~~unexpected~~policies, procedures ~~loss~~and systems of ~~any~~the financial institutions that it has already acquired or may acquire in the future are deficient, it would be subject to liability, including fines and regulatory actions such as restrictions on its ability to pay dividends and the necessity to obtain regulatory approvals to proceed with certain aspects of ~~those~~its ~~personnel~~business ~~could~~plan, ~~adversely~~including ~~affect~~its acquisition plans, which would negatively impact its business, financial condition and results of operations. Failure to maintain and implement adequate programs to combat money laundering and terrorist financing could also have serious reputational consequences for the Corporation.

The Corporation is a customer-focused and relationship-driven organization. The Corporation expects its future growth to be driven in a large part by the relationships maintained with its customers by its chief executive officer and by other senior officers. The unexpected loss of any of the Corporation’s key employees could have a material adverse effect on its business and operations, which would have an adverse effect on its business, results of operations, financial condition, and the value of its securities. While the Corporation’s and the Bank’s Executive Chairman recently retired from active day-to-day service as a member of senior management of the Corporation and the Bank, because he will continue on as Chairman of the boards of directors of both the Corporation and the Bank, the Corporation does not anticipate that his retirement will have an adverse effect on business, operations, financial condition or the value of the Corporation’s securities.11

~~The~~Regulations ~~success~~relating ofto privacy, information security and data protection could increase the Corporation’s ~~strategy depends~~costs, onaffect ~~its~~or ~~ability~~limit tohow ~~identify~~it collects and ~~retain~~uses ~~individuals~~personal ~~with experience~~ information and ~~relationships~~adversely inaffect its ~~markets~~business opportunities.

InThe ~~order~~Corporation is subject to various beprivacy, ~~successful~~information security and data protection laws, including requirements concerning security breach notification, and it could be negatively impacted by these laws. For example, the Corporation’s ~~must~~business ~~identify~~is ~~and~~subject ~~retain~~to ~~experienced~~the ~~key~~Financial ~~management~~Services ~~members~~Modernization Act of 1999, also known as the Gramm-Leach-Bliley Act, which, among other things: (i) imposes certain limitations on its ability to share nonpublic personal information about its customers with ~~local~~nonaffiliated ~~expertise~~third ~~and~~parties; ~~relationships.~~(ii) ~~Competition~~requires ~~for~~that ~~qualified~~it provide certain disclosures ~~personnel~~to iscustomers ~~intense~~about its information collection, sharing and ~~there~~security ~~are~~practices aand ~~limited~~afford ~~number~~customers the right to “opt out” of ~~qualified~~any ~~persons~~information sharing by the Corporation with ~~knowledge~~nonaffiliated ofthird parties (with certain exceptions) and ~~experience~~(iii) inrequires ~~the~~it ~~community~~to ~~banking~~develop, implement ~~industry~~and maintain a written comprehensive information security program containing safeguards appropriately based on its size and incomplexity, the ~~Corporation’s~~nature ~~chosen~~and ~~geographic~~scope ~~markets.~~of ~~Even~~its ifactivities, and the ~~Corporation~~sensitivity ~~identifies~~of ~~individuals~~customer ~~that~~information it ~~believes~~processes, ~~could~~as ~~assist~~well ~~the~~as plans for responding ~~Corporation~~to data security breaches. Various state and federal banking regulators have also enacted data security breach notification requirements with varying levels of individual, ~~the~~consumer, ~~Corporation~~regulatory ~~may~~or belaw ~~unable~~enforcement tonotification ~~recruit~~in ~~these~~certain ~~individuals~~circumstances ~~away~~in ~~from~~the ~~more~~event ~~established~~of ~~banks~~a security breach. InThis ~~addition~~includes increased privacy-related enforcement activity at the federal level, by the ~~process~~Federal ofTrade Commission, as well as ~~identifying~~at ~~and~~the ~~recruiting~~state ~~individuals~~level, such as with regard to mobile applications. Moreover, legislators and regulators in the ~~combination~~United ofStates ~~skills~~are increasingly adopting or revising privacy, information security and ~~attributes~~data ~~required~~protection islaws ~~often~~that ~~lengthy.~~potentially ~~The~~could have a significant impact on the Corporation’s ~~inability~~current toand ~~identify,~~planned ~~recruit~~privacy, data protection and ~~retain~~information ~~talented~~security-related ~~personnel~~practices, ~~could~~the ~~limit~~Corporation’s ~~its~~collection, ~~growth~~use, sharing, retention and ~~could~~safeguarding ~~materially~~of ~~adversely~~consumer ~~affect~~or employee information, and some of its current or planned business, activities. This could also ~~results~~increase the Corporation’s costs of ~~operations,~~compliance ~~financial~~and ~~condition,~~business operations and ~~the~~could ~~value~~reduce ofincome ~~its~~from ~~securities~~certain business initiatives.

~~Higher~~Compliance ~~FDIC~~with ~~deposit~~current ~~insurance~~or ~~premiums~~future privacy, data protection and information security laws (including those regarding security breach notification) affecting customer or ~~assessments~~employee ~~could~~data ~~adversely~~to ~~impact~~which the Corporation is subject could result in higher compliance and technology costs and could restrict its ability to provide certain products and services, which could have a material adverse effect on its business, financial condition or results of operations. The Corporation’s failure to comply with privacy, data protection and information security laws could result in potentially significant regulatory or governmental investigations or actions, litigation, fines, sanctions and damage to its reputation, which could have a material adverse effect on its business, results of operations, financial condition, and the value of its securities.

The Corporation’s ~~deposits are~~use ~~insured up to applicable limits by the Deposit Insurance Fund~~ of ~~the~~third-party ~~FDIC~~ vendors and ~~are~~other ~~subject~~ongoing ~~to deposit insurance assessments to maintain deposit insurance. As an FDIC~~third-~~insured~~party ~~institution,~~business ~~the~~relationships ~~Corporation~~are issubject ~~required~~ to ~~pay~~increasing ~~quarterly~~regulatory ~~deposit~~requirements insurance premium assessments to the FDIC. Although the Corporation cannot predict what the insurance assessment rates will be, either a deterioration in its risk-based capital ratios or adjustments to the base assessment rates could have a material adverse impact on its business, financial condition, results of operations, and ~~cash flows~~attention.

The Corporation isregularly auses third ~~holding~~party ~~company~~vendors ~~dependent~~as part of its business. The Corporation also has substantial ongoing business relationships with other third parties. These types of third-party relationships are subject to increasingly demanding regulatory requirements and attention by the Corporation’s federal bank regulators. Regulatory guidance requires all banking organizations to enhance due diligence, ongoing monitoring and control over organizations’ third-party vendors and other ongoing third-party business relationships. The Corporation expects that its regulators will hold it responsible for ~~liquidity~~any ondeficiencies ~~payments~~in ~~from~~its oversight and control of its third-party relationships and in the ~~Bank~~performance of the parties with which it has these relationships. As a result, ~~our~~if ~~only~~the ~~subsidiary~~Corporation’s regulators conclude that it has not exercised adequate oversight and control over its third party vendors or other ongoing third party business relationships or that such third parties have not performed appropriately, ~~which~~the ~~are~~Corporation could be subject to ~~restrictions~~enforcement actions, including civil money penalties or other administrative or judicial penalties or fines as well as requirements for customer remediation, any of which could have a material adverse effect on its business, results of operations, financial condition, and the value of its securities.

~~The~~Technological ~~Corporation~~advances isimpact ~~a financial holding company and depends on dividends, distributions and other payments from~~ the ~~Bank, our subsidiary, to fund dividend payments to~~Corporation’s ~~shareholders~~business; ~~and~~its toinformation ~~fund~~systems ~~all~~may ~~payments~~experience onan ~~obligations.~~interruption ~~The Bank is subject to laws that restrict dividend payments~~ or ~~authorize~~breach regulatory bodies to block or reduce the flow of funds from it to us. Restrictions or regulatory action of that kind could impede access to funds that we need to make payments on our obligations, dividend payments or stock repurchases. In addition, our right to participate in ~~a distribution of assets upon our subsidiary’s liquidation or reorganization is subject to the prior claims of the subsidiary’s creditors~~security.

13To conduct the Corporation’s business, it relies heavily on new technology-driven products and services, communications and information systems. The Corporation’s future success will depend, in part, on its ability to address the needs of the Corporation’s customers by using technology to provide products and services that will satisfy customer demands for convenience as well as to create additional efficiencies in operations. Any failure, interruption or breach of the security of the Corporation’s information systems could result in failures or disruptions in its customer relationship management, general ledger, deposit, loan and other systems. While the Corporation has policies and procedures designed to prevent or limit the effect of the failure, interruption or security breach of the Corporation’s information systems, there can be no assurance that the Corporation can prevent any such failures, interruptions or security breaches or, if they do occur, that they will be adequately addressed. During the normal course of the Corporation’s business, it has experienced and it expects to continue to experience attempts to breach its systems, none of which has been material to the Corporation to date, and it may be unable to protect sensitive data and the integrity of its systems. The occurrence of any failures, interruptions or security breaches of the Corporation’s information systems could damage its reputation, result in a loss of customer business, subject it to additional regulatory scrutiny, or expose it to civil litigation and possible financial liability, any of which could have a material adverse effect on its financial condition and results of operations as well as the value of its securities.

~~Commercial real estate loans may increase the Corporation’s exposure to credit risk.~~12

AArtificial ~~portion~~Intelligence ofintroduces the Corporation’s loan portfolio is secured by commercial real estate. Loans secured by commercial real estate are generally viewed as having more risk of default than loans secured by residential real estate or consumer loans because repayment of the loans often depends on the successful operation of the propertycompliance, ~~the income stream of the borrowers, the accuracy of the estimate of the property’s value at completion~~ ~~of construction~~operational, and the estimated cost of construction. Such loans are generally more risky than loans secured by residential real estate or consumer loans because those loans are typically not secured by commercial real estate collateral. An adverse development with respect to one lending relationship could expose the Corporation to a significantly greater risk of loss compared with a single-family residential mortgage loan because the Corporation typically has more than one loan with such borrowers. Additionallyreputational, these loans typically involve larger loan balances to single borrowers or groups of related borrowers compared with single-family residential mortgage loans. Therefore, the deterioration of one or a few of these loans could cause a significant decline in the related asset quality. If the Corporation’s primary market areas experience an economic slowdown, these loans represent higher risk and ~~could~~information ~~result~~security in a sharp increase in loans charged off and could require the Corporation to significantly increase its allowance for credit losses, which could have a material adverse impact on its business, financial condition, results of operations, and cash flowsrisks.

~~Repayment~~Unapproved ofor ~~commercial~~insecure ~~business~~Artificial Intelligence ~~loans~~(“AI”) tools may expose confidential information or create compliance violations. Errors, failures, or biased outputs could lead to poor decision-making, regulatory breaches, or reputational damage. Oversight is required to ensure AI tools are ~~often~~used ~~dependent~~responsibly onand to prevent misuse that could threaten the ~~cash~~confidentiality, ~~flows~~integrity, or availability of information. The Corporation has adopted an AI and Automated Tool Usage Policy to establish guidelines for the ~~borrower~~responsible, ~~which~~secure, ~~may~~and becompliant ~~unpredictable~~use of AI systems, automated bots, Application Programming Interfaces (“APIs”), and machine learning technologies within the ~~collateral~~organization. ~~securing~~This ensures ~~these~~that ~~loans~~all ~~may~~AI-related ~~fluctuate~~activities support the Corporation’s strategic objectives, regulatory obligations, and risk management practices while aligning with information security controls and protecting sensitive data, customer information, proprietary business processes, and the Corporation’s reputation. Violations of the Corporation’s AI and Automated Tool Usage Policy could result in compliance, operational and information security violations resulting in a material adverse effect on its business, results of operations ~~value~~and financial condition.

The Corporation ~~has commercial business loans as part of its loan portfolio. The Corporation~~’s ~~commercial~~controls ~~business loans are originated primarily based on the identified cash flow~~ and ~~general liquidity of the borrower and secondarily on the underlying collateral provided by the borrower and/or~~procedures ~~repayment capacity of any guarantor. The borrower’s cash flow~~ may befail ~~unpredictable, and collateral securing these loans may fluctuate in value. Although commercial business loans are often collateralized by equipment, inventory, accounts receivable~~ or ~~other business assets, the liquidation of collateral in the event of default is often an insufficient source of repayment because accounts receivable may~~ be ~~uncollectible~~ ~~and inventories may be obsolete or of limited use~~circumvented. In addition, business assets may depreciate over time, may be difficult to appraise, and may fluctuate in value based on the success of the business. Accordingly, the repayment of commercial business loans depends primarily on the cash flow and credit worthiness of the borrower and secondarily on the underlying collateral value provided by the borrower and liquidity of the guarantor.

The Corporation regularly reviews and updates its internal controls, disclosure controls and procedures, and corporate governance policies and procedures. Any system of controls, however well-designed and operated, is ~~limited~~based in part on certain assumptions and can provide only reasonable, not absolute, assurances that the ~~amount~~objectives of the system are met. Any failure or circumvention of the Corporation’s controls and procedures or failure itto ~~can~~comply ~~lend~~with regulations related to ~~one~~controls ~~borrower~~and procedures could have a material adverse effect on its business, results of operations and financial condition.

~~The~~Negative ~~Corporation~~public isopinion ~~limited in~~surrounding the ~~amount that it can lend to a single borrower to 15% of the Bank’s capital and surplus, with an additional 10% available for certain loans meeting heightened collateral requirements. However, the~~ Corporation ~~generally imposes an internal limit that is more conservative~~ ~~than the legal maximum. The Corporation’s lending limit is significantly less than the limit for many of its competitors~~ and ~~may affect its ability to seek relationships with larger businesses in its market area. From time to time,~~ the ~~Corporation attempts to accommodate larger loans by selling participations in those loans to other~~ financial institutions. ~~However,~~industry ~~the~~generally ~~Corporation~~could ~~cannot~~damage ~~ensure~~its ~~that~~reputation it will be able to attract or maintain customers seeking larger loans or that it will be able to sell participations in such loans on terms it considers favorable. The Corporation’s inability to attract and ~~maintain these customers or its inability to sell loan participations on favorable terms could~~ adversely impact its ~~business, financial condition, results of operation, and the value of its securities~~earnings.

~~The~~Reputation ~~Federal~~risk, ~~Reserve~~or ~~may~~the ~~require~~risk to the Corporation’s business, earnings and capital from negative public opinion surrounding the Corporation and the financial institutions industry generally, is inherent in its business. Negative public opinion can result from the Corporation’s actual or alleged conduct in any number of activities, including lending practices, corporate governance and acquisitions, and from actions taken by government regulators and community organizations in response to ~~commit~~those ~~capital~~activities. ~~resources~~Negative public opinion regarding the banking and financial services industries generally, such as the public reaction to ~~support~~the recent banking failures, also can negatively affect the ~~Bank~~Corporation. Negative public opinion can adversely affect the Corporation’s ability to keep and attract clients and employees and can expose it to litigation and regulatory action. Although the Corporation takes steps to minimize reputation risk in dealing with its clients and communities, this risk will always be present given the nature of its business.

The ~~Federal~~Corporation ~~Reserve~~relies ~~requires a~~heavily ~~bank~~on ~~holding~~its ~~company to act as a source of financial and managerial strength to a subsidiary bank and to commit resources to support~~senior ~~such~~management ~~subsidiary bank. Under the “source of strength” doctrine~~team, ~~the Federal Reserve may require a bank holding company to make capital injections into a troubled subsidiary bank~~ and ~~may charge~~ the ~~bank~~unexpected ~~holding~~loss ~~company~~of ~~with~~any engaging in unsafe and unsound practices for failure to commit resources to such a subsidiary bank. In addition, the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”) directs the federal bank regulators to require that all companies that directly or indirectly control an insured depository institution serve as a source of ~~financial~~those ~~strength~~personnel ~~for the institution. Under these requirements, in the future, the Corporation~~ could beadversely ~~required~~affect toits ~~provide financial assistance to Journey Bank if it experiences financial distress~~operations.

AThe ~~capital~~Corporation ~~infusion~~is ~~may~~a becustomer-focused ~~required~~and atrelationship-driven ~~times~~organization. ~~when~~The ~~the~~ Corporation ~~does~~expects ~~not~~its ~~have~~future ~~the~~growth ~~resources~~ to ~~provide it, and therefore the Corporation may~~ be ~~required~~driven toin ~~borrow the funds. In the event of~~ a ~~bank~~large ~~holding~~part ~~company’s~~by ~~bankruptcy,~~ the ~~bankruptcy~~relationships ~~trustee~~maintained with ~~will~~its ~~assume~~customers ~~any commitment~~ by ~~the~~its ~~holding company~~chief toexecutive aofficer ~~federal~~and ~~bank~~by ~~regulatory~~other ~~agency~~senior toofficers. ~~maintain~~The ~~the~~unexpected ~~capital~~loss of ~~a subsidiary bank. Moreover, bankruptcy law provides that claims based on~~ any ~~such commitment will be entitled to a priority~~ of ~~payment over~~ the ~~claims of the holding company~~Corporation’s ~~general unsecured~~ ~~creditors,~~key ~~including~~employees ~~the~~could ~~holders~~have ofa ~~its~~material ~~note~~adverse ~~obligations.~~effect ~~Thus,~~on ~~any~~its ~~borrowing~~business ~~that~~and ~~must~~operations, bewhich ~~done~~would byhave ~~the~~an ~~holding~~adverse ~~company~~effect inon ~~order~~its ~~to make~~business, ~~the~~results ~~required~~of ~~capital~~operations, ~~injection~~financial ~~becomes~~condition, ~~more difficult~~ and ~~expensive and will adversely impact~~ the ~~holding~~value ~~company’s cash flows, financial condition, results~~ of ~~operations~~its ~~and prospects~~securities.

14The success of the Corporation’s strategy depends on its ability to identify and retain individuals with experience and relationships in its markets.

~~The~~In order to be successful, the Corporation must identify and retain experienced key management members with local expertise and relationships. Competition for qualified personnel is intense and there are a limited number of qualified persons with knowledge of and experience in the community banking industry in the Corporation’s chosen geographic markets. Even if the Corporation identifies individuals that it believes could assist the Corporation, the Corporation may be ~~subject~~unable to recruit these individuals away from more ~~stringent~~established banks. In addition, the process of ~~capital~~identifying ~~requirements~~and inrecruiting individuals with the ~~future~~combination of skills and attributes required is often lengthy. The Corporation’s inability to identify, recruit, and retain talented personnel could limit its growth and could materially adversely affect its business, results of operations, financial condition, and the value of its securities.

From time to time, the Corporation’s banking regulators change the regulatory capital adequacy guidelines applicable to it and its banking subsidiary. In December 2010 and January 2011, the Basel Committee on Banking Supervision published the final texts of reforms on capital and liquidity generally referred to as “Basel III.” The federal regulatory agencies adopted capital rules implementing the Basel III capital framework in the United States. Under these rules, the Corporation is required to satisfy additional, more stringent, capital adequacy standards than it has in the past. The Corporation has met all of the requirements of the Basel III-based capital rules to date, but the Corporation may fail to do so in the future. In addition, these requirements could have a negative impact on the Corporation’s ability to lend, grow deposit balances, make acquisitions or make capital distributions in the form of dividends or share repurchases. Higher capital levels could also lower the Corporation’s return on equity, which may negatively impact its business, results of operations, financial condition, and the value of its securities.13

~~The~~Higher ~~use~~FDIC ofdeposit ~~estimates~~insurance ~~and~~premiums ~~valuations in the preparation of the Corporation’s consolidated financial statements requires the exercise of judgment,~~ and ~~may be different from~~assessments ~~actual results, which~~ could ~~have~~adversely aimpact ~~material adverse effect on~~ the Corporation’s ~~consolidated~~ financial ~~statements~~condition.

The Corporation’s ~~makes various~~deposits ~~estimates~~are ~~that~~insured ~~affect~~up ~~reported~~to ~~amounts~~applicable ~~and~~limits ~~disclosures.~~by ~~Broadly, those estimates are used in measuring~~ the ~~fair~~Deposit ~~value~~Insurance Fund of ~~certain financial instruments, establishing~~ the ~~provision~~FDIC ~~for credit losses~~ and ~~estimating~~are ~~potential~~subject ~~litigation~~to ~~liability.~~deposit ~~Market~~insurance ~~volatility~~assessments ~~may~~to ~~make it~~maintain ~~difficult~~deposit ~~to determine the fair value for certain of the Corporation’s assets and liabilities~~insurance. ~~Subsequent~~As ~~valuations,~~an inFDIC-insured ~~light of factors then prevailing~~institution, ~~may result in significant changes in~~ the ~~values~~Corporation ofis ~~these~~required ~~financial~~to ~~instruments~~pay inquarterly ~~future~~deposit ~~periods.~~insurance Inpremium ~~addition,~~assessments atto the ~~time~~FDIC. ofAlthough ~~any sales and settlements of these assets and liabilities,~~ the ~~price the~~ Corporation ~~ultimately~~cannot ~~realizes~~predict ~~will~~what ~~depend on~~ the ~~demand~~insurance ~~and~~assessment ~~liquidity~~rates inwill ~~the market at that time for that particular type of asset or liability and may~~ be, ~~materially~~either ~~lower~~a ~~than~~deterioration in its ~~estimate~~ ~~of their current fair value. Estimates are~~ risk-based capital onratios ~~available~~or ~~information~~adjustments ~~and~~to ~~judgment. Therefore, actual values and results could differ from~~ the ~~Corporation’s~~base ~~estimates,~~assessment ~~and~~rates ~~that difference~~ could have a material adverse ~~effect~~impact on its ~~consolidated~~business, financial condition, ~~statements~~results of operations, and cash flows.

~~Credit~~The ~~losses~~Corporation ~~related~~is toa ~~investment~~holding ~~securities,~~company dependent ~~impairment~~for ~~charges~~liquidity ~~related~~on topayments ~~goodwill,~~from ~~other~~the ~~intangible assets~~Bank, orour ~~deferred~~only ~~tax assets could require charges to earnings~~subsidiary, which ~~could result~~are insubject ato ~~negative impact on our results of operations~~restrictions.

InThe ~~assessing~~Corporation ~~investment~~is ~~securities for~~a ~~credit losses, we consider the extent to which the fair value has been less than cost, the~~ financial holding ~~condition~~company and ~~near-term~~depends ~~prospects of~~on ~~the issuers~~dividends, ~~and~~distributions ~~the intent~~ and ~~ability~~other topayments ~~retain~~from ~~its investment in~~ the ~~issuer~~Bank, ~~for~~our asubsidiary, ~~period of time sufficient~~ to ~~allow~~fund ~~for~~dividend anpayments ~~anticipated~~to ~~recovery~~shareholders inand ~~fair~~to ~~value~~fund inall ~~the~~payments ~~near~~on ~~term~~obligations. ~~Under~~The ~~current~~Bank ~~accounting~~is ~~standards,~~subject ~~goodwill~~to ~~and~~laws ~~certain~~that ~~other~~restrict ~~intangible~~dividend ~~assets~~payments ~~with indeterminate lives are no longer amortized but, instead, are assessed for impairment periodically~~ or ~~when~~authorize ~~impairment indicators are present. Assessment~~regulatory ofbodies ~~goodwill~~to ~~and~~block ~~such~~or ~~other~~reduce ~~intangible assets could result in circumstances where~~ the ~~applicable~~flow ~~intangible~~of ~~asset~~funds isfrom ~~deemed~~it to ~~be impaired for accounting purposes~~us. ~~Under~~Restrictions ~~such~~or ~~circumstances,~~regulatory ~~the~~action ~~intangible~~of ~~asset’s~~that ~~impairment~~kind ~~would~~could beimpede ~~reflected~~access ~~as a charge~~ to ~~earnings~~funds inthat ~~the~~we ~~period~~need ~~during~~to ~~which~~make ~~such~~payments ~~impairment~~on isour ~~identified. In assessing the realizability of deferred tax assets~~obligations, ~~management~~dividend ~~considers whether~~payments ~~it is more likely than not that some portion~~ or ~~all~~stock ofrepurchases. ~~the~~In ~~deferred~~addition, ~~tax~~our ~~assets~~right ~~will~~to ~~not~~participate bein ~~realized.~~a ~~The ultimate realization~~distribution of ~~deferred tax~~ assets ~~is dependent~~ upon ~~the~~our ~~generation~~subsidiary’s ofliquidation ~~future~~or ~~taxable~~reorganization ~~income~~is ~~during~~subject to the ~~periods~~prior inclaims ~~which those temporary differences become deductible. The impact~~ of ~~each~~the ofsubsidiary’s ~~these impairment matters could have a material adverse effect on our business, results of operations and financial condition~~creditors.

IfCommercial wereal ~~want~~estate ~~to,~~loans ormay ~~are~~increase ~~compelled to, raise~~the ~~additional~~Corporation’s ~~capital~~exposure ~~in the future, that capital may not be available when it is needed and on terms favorable~~ to ~~current~~credit ~~shareholders~~risk.

~~Federal~~A ~~banking~~portion ~~regulators~~of the Corporation’s ~~require~~loan usportfolio ~~and~~is ~~our~~secured ~~banking~~by ~~subsidiary~~commercial toreal ~~maintain~~estate. ~~adequate~~Loans ~~levels~~secured ofby ~~capital~~commercial toreal ~~support~~estate ~~our~~are ~~operations.~~generally ~~These~~viewed ~~capital~~as ~~levels~~having ~~are~~more ~~determined~~risk ~~and~~of ~~dictated~~default than loans secured by ~~law,~~residential ~~regulation~~real ~~and~~estate ~~banking~~or ~~regulatory~~consumer ~~agencies.~~loans Inbecause ~~addition~~repayment of the loans often depends on the successful operation of the property, ~~capital~~the ~~levels~~income ~~are~~stream ~~also~~of ~~determined~~the byborrowers, ~~our~~the ~~management~~accuracy ~~and~~of the estimate of the property’s value at completion ~~board~~of construction, and the estimated cost of ~~directors~~construction. ~~based~~Such onloans ~~capital~~are ~~levels~~generally ~~that~~more ~~they~~risky ~~believe~~than loans secured by residential real estate or consumer loans because those loans are ~~necessary~~typically tonot ~~support~~secured ~~our~~by ~~business~~commercial ~~operations~~real estate collateral. AtAn ~~December~~adverse ~~31,~~development ~~2024,~~with ~~all~~respect ~~three~~to ~~capital~~one ~~ratios~~lending ~~for~~relationship uscould ~~and~~expose ~~our~~the ~~banking~~Corporation ~~subsidiary~~to ~~were~~a ~~above~~significantly ~~“well~~greater ~~capitalized”~~risk ~~levels~~of ~~under~~loss ~~current~~compared ~~bank~~with ~~regulatory~~a single-family residential ~~guidelines.~~mortgage Toloan bebecause ~~“well~~the ~~capitalized~~Corporation typically has more than one loan with such borrowers. Additionally,” ~~banking~~these ~~companies~~loans ~~generally~~typically ~~must~~involve larger ~~maintain~~loan abalances ~~Tier~~to 1single ~~leverage~~borrowers ~~ratio~~or groups of atrelated ~~least~~borrowers ~~5%,~~compared awith single-family residential mortgage loans. Therefore, ~~Tier~~the 1deterioration ~~risk-based~~of ~~capital~~one ~~ratio~~or a few of atthese ~~least~~loans 6could cause a significant decline in the related asset quality.5% If the Corporation’s primary market areas experience an economic slowdown, these loans represent higher risk and could result in a ~~Total~~sharp ~~risk-based~~increase ~~capital~~in ~~ratio~~loans charged ofoff atand ~~least~~could ~~10%.~~require ~~However~~the Corporation to significantly increase its allowance for credit losses, ~~our~~which ~~regulators~~could ~~may~~have ~~require~~a material adverse usimpact oron ~~our~~its ~~banking~~business, ~~subsidiary~~financial tocondition, ~~operate~~results ~~with~~of ~~higher~~operations, ~~capital~~and ~~levels~~cash flows.

~~Our~~Repayment ~~ability~~of tocommercial ~~raise~~business ~~additional capital~~loans ~~will~~is ~~depend~~often dependent on ~~conditions in~~ the ~~capital~~cash ~~markets~~flows atof ~~that~~the ~~time~~borrower, which are outside of our control, and on our financial performance. Accordingly, we cannot assure you of our ability to raise additional capital on terms and time frames acceptable to us and to raise additional capital at all. If we cannot raise additional capital in sufficient amounts when needed, our ability to comply with regulatory capital requirements could be materially impaired. Additionally, the inability to raise capital in sufficient amounts may ~~adversely affect our operations, financial conditions and results of operations. Our ability to borrow could also~~ be ~~impaired by factors that are nonspecific to us~~unpredictable, ~~such as severe disruption of the financial markets or negative news~~ and ~~expectations about~~ the ~~prospects~~collateral ~~for~~securing ~~the~~these ~~financial~~loans ~~services industry~~may asfluctuate ~~a whole as evidenced by recent turmoil~~ in the domestic and worldwide credit markets. If we raise capital through the issuance of additional shares of our common stock or other securities, we would likely dilute the ownership interests of current investors and could dilute the per share book value ~~or earnings per share of our common stock~~. ~~Furthermore, a capital raise through issuance of additional shares may have an adverse impact on our stock price.~~

15The Corporation has commercial business loans as part of its loan portfolio. The Corporation’s commercial business loans are originated primarily based on the identified cash flow and general liquidity of the borrower and secondarily on the underlying collateral provided by the borrower and/or repayment capacity of any guarantor. The borrower’s cash flow may be unpredictable, and collateral securing these loans may fluctuate in value. Although commercial business loans are often collateralized by equipment, inventory, accounts receivable or other business assets, the liquidation of collateral in the event of default is often an insufficient source of repayment because accounts receivable may be uncollectible and inventories may be obsolete or of limited use. In addition, business assets may depreciate over time, may be difficult to appraise, and may fluctuate in value based on the success of the business. Accordingly, the repayment of commercial business loans depends primarily on the cash flow and credit worthiness of the borrower and secondarily on the underlying collateral value provided by the borrower and liquidity of the guarantor.

The Corporation ~~may~~is belimited ~~adversely~~in ~~affected by~~ the ~~soundness~~amount ofit can ~~other~~lend ~~financial~~to ~~institutions~~one borrower.

~~Financial~~The ~~services~~Corporation ~~institutions~~is limited in ~~are~~the ~~interrelated~~amount asthat it can lend to a ~~result~~single borrower to 15% of ~~trading,~~the ~~clearing,~~Bank’s ~~counterparty~~capital and surplus, orwith ~~other~~an ~~relationships.~~additional ~~The~~10% ~~Corporation~~available ~~has~~for certain ~~exposure~~loans tomeeting ~~many~~heightened ~~different industries~~collateral ~~and~~requirements. ~~counterparties~~However, ~~and~~the ~~routinely~~Corporation ~~executes~~generally ~~transactions~~imposes ~~with~~an ~~counterparties~~internal inlimit ~~the~~that ~~financial~~is ~~services~~more ~~industry,~~conservative than ~~including~~the ~~commercial banks,~~legal ~~brokers~~maximum. ~~and~~The ~~dealers,~~Corporation’s ~~investment~~lending ~~banks,~~limit ~~and~~is ~~other~~significantly ~~institutional~~less ~~clients.~~than ~~Many~~the oflimit ~~these~~for ~~transactions~~many ~~expose~~of ~~the~~its ~~Corporation~~competitors toand ~~credit~~may ~~risk~~affect inits ~~the~~ability ~~event~~to ofseek arelationships ~~default~~with bylarger abusinesses ~~counterparty~~in orits ~~client~~market area. InFrom ~~addition~~time to time, the Corporation’s ~~credit~~attempts ~~risk~~to ~~may~~accommodate larger beloans ~~exacerbated~~by ~~when~~selling ~~the collateral~~participations ~~held~~in bythose loans to other financial institutions. However, the Corporation cannot ensure that it will be ~~realized~~able ~~upon~~to attract or ismaintain ~~liquidated~~customers atseeking ~~prices~~larger ~~not~~loans ~~sufficient~~or that it will be able to ~~recover~~sell ~~the~~participations ~~full~~in ~~amount~~such ofloans ~~the~~on terms ~~credit~~it orconsiders ~~derivative~~favorable. ~~exposure~~The ~~due~~Corporation’s inability to ~~the~~attract ~~Corporation.~~and ~~Any~~maintain ~~such~~these ~~losses~~customers ~~could~~or ~~have~~its ainability ~~material~~to ~~adverse~~sell ~~effect~~loan participations on ~~the~~favorable ~~Corporation’s~~ terms could adversely impact its business, financial condition, results of operation, and ~~results~~the value of ~~operations~~its securities.

~~The Federal Home Loan Bank of Pittsburgh’s financial condition could deteriorate.~~ 14

The ~~Bank is a member of the~~ Federal ~~Home~~Reserve ~~Loan~~may ~~Bank~~require ~~of Pittsburgh (FHLB-Pittsburgh), which is one of 11 regional Federal Home Loan Banks. The Bank has a line of credit with~~ the ~~FHLB-Pittsburgh that is secured by a blanket lien on its loan portfolio. Access~~ Corporation to ~~this~~commit ~~line~~capital ofresources ~~credit is critical if a funding need arises. However, there can be no assurance that the FHLB-Pittsburgh will be able~~ to ~~provide~~support ~~funding when needed, nor can there be assurance that~~ the ~~FHLB-Pittsburgh will provide funds specifically to the~~ Bank ~~should its financial condition deteriorate and/or regulators prevent that access~~. The inability to access this source of funds could have a materially adverse effect on the Corporation’s financial flexibility if alternate financing is not available at acceptable interest rates. The failure of the FHLB-Pittsburgh or the FHLB system in general, may materially impair the Corporation’s ability to meet short- and long-term liquidity needs or to meet growth plans.

The ~~Corporation~~Federal ~~owns~~Reserve ~~common~~requires a ~~stock~~bank ofholding ~~the~~company ~~FHLB-Pittsburgh~~ to ~~qualify~~act ~~for~~as ~~membership~~a insource ~~the~~of ~~FHLB~~financial ~~system~~ and ~~access~~managerial ~~services~~strength ~~from~~to ~~the~~a ~~FHLB-Pittsburgh.~~subsidiary ~~The~~bank ~~FHLB-Pittsburgh faces~~and ato ~~variety~~commit ofresources ~~risks~~to insupport ~~its~~such subsidiary ~~operations~~bank. ~~including~~Under ~~interest~~the ~~rate~~“source ~~risk~~of strength” doctrine, ~~counterparty~~the ~~credit~~Federal ~~risk,~~Reserve ~~and~~may ~~adverse~~require ~~changes~~a inbank ~~its~~holding ~~regulatory~~company to make capital ~~framework.~~injections Ininto ~~addition,~~a troubled subsidiary bank and may charge the 11bank ~~Federal~~holding ~~Home~~company ~~Loan~~with ~~Banks~~engaging ~~are~~in ~~jointly~~unsafe ~~liable~~and unsound practices for ~~the~~failure to ~~consolidated~~commit ~~obligations~~resources ofto ~~the~~such ~~FHLB~~a ~~system~~subsidiary bank. ToIn addition, the ~~extent~~ ~~that~~Dodd-Frank ~~one~~Wall ~~FHLB~~Street ~~cannot~~Reform ~~meet~~and ~~its~~Consumer ~~obligations,~~Protection ~~other~~Act ~~FHLBs~~(“Dodd-Frank Act”) ~~can~~directs bethe ~~called~~federal ~~upon~~bank regulators to ~~make~~require ~~required~~that ~~payments.~~all ~~Such~~companies ~~risks~~that ~~affecting~~directly ~~the~~or ~~FHLB-Pittsburgh~~indirectly control an insured depository ~~could~~institution ~~adversely~~serve ~~impact~~as ~~the~~a ~~value~~source of financial strength for the ~~Corporation’s~~institution. ~~investment~~Under these requirements, in the ~~common~~future, ~~stock~~the ofCorporation ~~the~~could be ~~FHLB-Pittsburgh~~required ~~and/or~~to ~~affect~~provide ~~its~~financial ~~access~~ assistance to ~~credit~~Journey Bank if it experiences financial distress.

~~There~~A iscapital ainfusion ~~risk~~may ~~that~~be required at times when the Corporation does not have the resources to provide it, and therefore the Corporation may be required to borrow the funds. ~~not~~In ~~experience~~the event of a bank holding company’s bankruptcy, the ~~projected~~bankruptcy ~~benefits~~trustee will assume any commitment by the holding company to a federal bank regulatory agency to maintain the capital of a subsidiary bank. Moreover, bankruptcy law provides that claims based on any such commitment will be entitled to a priority of payment over the claims of the holding company’s general unsecured creditors, including the holders of its ~~recent~~note ~~merger~~obligations. Thus, any borrowing that must be done by the holding company in order to make the required capital injection becomes more difficult and expensive and will adversely impact the holding company’s cash flows, financial condition, results of operations and prospects.

AsThe ~~described in Item 1, the~~ Corporation completed a merger with Muncy Bank Financial, Inc. during 2023, and expanded its geographic footprint in central Pennsylvania. Merger and acquisition activity involves various risks including: potential exposure to unknown or contingent liabilities of the target company, exposure to potential asset quality issues of the target company, difficulty and expense of integrating the operations and personnel of the target company, potential disruption to the Corporation’s business, potential diversion of management’s time and attention, the possible loss of key employees and customers of the target company, difficulty in estimating the value of the target company and potential changes in banking or tax laws or regulations that may ~~affect~~be ~~the~~subject target company. Mergers and acquisitions may involve the payment of a premium over book and market values, and, therefore, some dilution of the Corporation’s tangible book value and net income per share of common stock may occur in connection with any such transaction. Furthermore, failure to ~~realize~~more ~~the expected revenue projections,~~stringent ~~cost~~capital ~~savings,~~requirements ~~increases~~ in ~~geographic or product presence, and/or other projected benefits from our recent merger could have a material adverse effect on~~ the ~~Corporation’s financial condition or results of operations~~future.

~~Risks~~From ~~Related~~time to antime, ~~Investment~~the Corporation’s banking regulators change the regulatory capital adequacy guidelines applicable to it and its banking subsidiary. In December 2010 and January 2011, the Basel Committee on Banking Supervision published the final texts of reforms on capital and liquidity generally referred to as “Basel III.” The federal regulatory agencies adopted capital rules implementing the Basel III capital framework in the United States. Under these rules, the Corporation is required to satisfy additional, more stringent, capital adequacy standards than it has in the past. The Corporation has met all of the requirements of the Basel III-based capital rules to date, but the Corporation may fail to do so in the future. In addition, these requirements could have a negative impact on the Corporation’s ability to lend, ~~Common~~grow ~~Stock~~deposit balances, make acquisitions or make capital distributions in the form of dividends or share repurchases. Higher capital levels could also lower the Corporation’s return on equity, which may negatively impact its business, results of operations, financial condition, and the value of its securities.

~~There~~The isuse aof ~~limited~~estimates ~~trading~~and ~~market~~valuations in the preparation of the Corporation’s ~~common~~consolidated ~~stock~~financial statements requires the exercise of judgment, ~~which~~and ~~will~~may ~~hinder~~be ~~your~~different ~~ability~~from toactual ~~sell~~results, which ~~the~~could ~~Corporation’s~~have ~~common~~a ~~stock~~material ~~and~~adverse ~~may~~effect ~~lower~~on the ~~market~~Corporation’s ~~price~~consolidated ~~of the~~financial ~~stock~~statements.

~~Although~~The ~~the~~ Corporation ~~common~~makes various ~~stock~~estimates isthat ~~quoted~~affect onreported ~~OTCQX~~amounts and disclosures. Broadly, those estimates are used in measuring the ~~Corporation~~fair ~~common~~value ~~stock~~of iscertain ~~traded~~financial instruments, ~~only~~establishing ~~sporadically~~the provision for credit losses and estimating potential litigation liability. AnMarket ~~active~~volatility ~~trading~~may ~~market~~make it difficult to determine the fair value for ~~shares~~certain of the Corporation’s assets and liabilities. Subsequent valuations, in light of ~~common~~factors ~~stock~~then prevailing, may ~~never~~result ~~develop~~in orsignificant bechanges ~~sustained~~in the values of these financial instruments in future periods. ~~Shareholders~~In ~~may~~addition, at ~~not~~the betime ~~able~~of toany ~~sell~~sales ~~shares~~and ~~when~~settlements ~~they~~of ~~desire~~these ifassets aand ~~liquid~~liabilities, ~~trading~~the ~~market~~price the Corporation ultimately realizes will depend on ~~does~~the ~~not~~demand ~~develop~~and orliquidity ~~sell~~in ~~them~~the market at athat ~~price~~time ~~equal~~for tothat particular type of asset or liability and may be materially lower than its estimate of their ~~cost~~current ~~basis~~fair ~~even~~value. ifEstimates aare ~~liquid~~based ~~trading~~on ~~market~~available ~~does~~information ~~develop~~and judgment. ~~This~~Therefore, ~~limited~~actual ~~trading~~values and results ~~market~~could ~~for~~differ from the Corporation’s ~~common~~estimates, ~~stock~~and ~~may~~that ~~also~~difference ~~result~~could inhave a ~~lower~~material ~~market~~adverse ~~value~~effect ofon ~~the~~its ~~Corporation~~consolidated ~~common stock~~financial statements.

~~The~~Credit ~~Corporation~~losses ~~can~~related ~~provide~~to noinvestment ~~assurance~~securities, ~~regarding~~impairment ~~whether,~~charges ~~and~~related ifto sogoodwill, ~~when~~other intangible assets, itor ~~will~~deferred ~~make~~tax ~~dividend~~assets ~~payments~~could require charges to earnings, which could result in ~~the~~a ~~future~~negative impact on our results of operations.

~~All~~In ~~dividends~~assessing ~~paid~~investment bysecurities for credit losses, we consider the ~~Corporation~~ inextent to which the ~~future~~fair ~~will~~value behas ~~dependent~~been onless ~~the~~than ~~Corporation’s~~cost, the financial condition, ~~results~~and near-term prospects of ~~operations~~the issuers, and ~~cash~~the ~~flows,~~intent ~~as well~~and asability ~~capital~~to ~~regulations~~retain ~~and~~its ~~dividend~~investment ~~restrictions~~in ~~imposed by~~ the ~~rules~~issuer ~~and~~for ~~regulations~~a period of ~~the~~time ~~Pennsylvania~~sufficient ~~Department~~to ofallow ~~Banking~~for ~~and~~an anticipated ~~Securities~~recovery ~~(“PADOBS”),~~in ~~the~~fair ~~FDIC,~~value ~~and~~in the ~~Federal~~near ~~Reserve~~term. ~~The~~Under ~~Federal~~current ~~Reserve~~accounting standards, goodwill and ~~the~~certain ~~FDIC~~other ~~have~~intangible ~~issued~~assets ~~policy~~with ~~statements,~~indeterminate ~~which~~lives ~~provide~~are ~~that~~no ~~bank~~longer ~~holding~~amortized ~~companies~~but, ~~and~~instead, ~~insured~~are ~~banks~~assessed ~~should~~for ~~generally~~impairment ~~only~~periodically ~~pay~~or ~~dividends~~when ~~out~~impairment ofindicators ~~current~~are ~~operating earnings~~present. ~~The~~Assessment ~~FDIC~~of ~~also~~goodwill ~~has~~and such other intangible assets could result in circumstances where the ~~authority~~applicable ~~under~~intangible ~~federal~~asset ~~law~~is deemed to ~~enjoin~~be aimpaired for ~~bank~~accounting ~~from~~purposes. ~~engaging~~Under insuch ~~what~~circumstances, inthe ~~its~~intangible ~~opinion~~asset’s ~~constitutes~~impairment anwould ~~unsafe~~be orreflected ~~unsound~~as ~~practice~~a charge to earnings in ~~conducting~~the ~~its~~period ~~business,~~during ~~including~~which such impairment is identified. In assessing the ~~payment~~realizability of adeferred ~~dividend~~tax ~~under~~assets, ~~certain~~management ~~circumstances.~~considers whether ~~The~~it ~~Corporation~~is ~~can~~more ~~provide~~likely nothan ~~assurance regarding~~not ~~whether,~~that ~~and~~some ifportion soor ~~when,~~all itof the deferred tax assets will ~~make~~not ~~dividend~~be ~~payments~~realized. inThe ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. The impact of each of these impairment matters could have a material adverse effect on our business, results of operations and financial condition.

15 16

~~The~~If ~~Corporation~~we ~~common~~want ~~stock~~to, isor ~~not~~are ~~FDIC~~compelled to, raise additional ~~insured~~capital ~~and~~in the future, that capital may ~~lose~~not ~~value~~be available when it is needed and on terms favorable to current shareholders.

~~Shares~~Federal banking regulators require us and our banking subsidiary to maintain adequate levels of capital to support our operations. These capital levels are determined and ~~the~~dictated ~~Corporation~~by ~~common~~law, ~~stock~~regulation and banking regulatory agencies. In addition, capital levels are ~~not~~also ~~savings~~determined ~~accounts~~by orour ~~deposits~~management and board of directors based on capital levels that they believe are ~~not~~necessary ~~insured~~to orsupport ~~guaranteed~~our bybusiness ~~the~~operations. ~~FDIC~~At December 31, or2025, ~~any~~all ~~other~~three capital ~~governmental~~ratios for us and our banking subsidiary were above “well capitalized” levels under current bank regulatory guidelines. ~~agency~~To be “well capitalized,” ~~and~~banking ~~involve~~companies ~~investment~~generally ~~risk~~must maintain a Tier 1 leverage ratio of at least 5%, ~~including~~a ~~the~~Tier ~~possible~~1 ~~loss~~risk-based capital ratio of ~~the~~at ~~entire~~least ~~value~~6.5% and a Total risk-based capital ratio of ~~the~~at ~~investment~~least 10%. However, our regulators may require us or our banking subsidiary to operate with higher capital levels.

~~Item~~Our 1Bability to raise additional capital will depend on conditions in the capital markets at that time, which are outside of our control, and on our financial performance. Accordingly, ~~Unresolved~~we ~~Staff~~cannot ~~Comments~~assure you of our ability to raise additional capital on terms and time frames acceptable to us and to raise additional capital at all. If we cannot raise additional capital in sufficient amounts when needed, our ability to comply with regulatory capital requirements could be materially impaired. Additionally, the inability to raise capital in sufficient amounts may adversely affect our operations, financial conditions and results of operations. Our ability to borrow could also be impaired by factors that are nonspecific to us, such as severe disruption of the financial markets or negative news and expectations about the prospects for the financial services industry as a whole as evidenced by recent turmoil in the domestic and worldwide credit markets. If we raise capital through the issuance of additional shares of our common stock or other securities, we would likely dilute the ownership interests of current investors and could dilute the per share book value or earnings per share of our common stock. Furthermore, a capital raise through issuance of additional shares may have an adverse impact on our stock price.

~~None~~The Corporation may be adversely affected by the soundness of other financial institutions.

~~Item~~Financial 1Cservices institutions are interrelated as a result of trading, clearing, counterparty, or other relationships. ~~Cybersecurity~~The Corporation has exposure to many different industries and counterparties, and routinely executes transactions with counterparties in the financial services industry, including commercial banks, brokers and dealers, investment banks, and other institutional clients. Many of these transactions expose the Corporation to credit risk in the event of a default by a counterparty or client. In addition, the Corporation’s credit risk may be exacerbated when the collateral held by the Corporation cannot be realized upon or is liquidated at prices not sufficient to recover the full amount of the credit or derivative exposure due to the Corporation. Any such losses could have a material adverse effect on the Corporation’s financial condition and results of operations.

~~Cybersecurity~~The Federal Home Loan Bank of Pittsburgh’s financial condition could deteriorate.

WeThe ~~are~~Bank ~~exposed~~is toa ~~various~~member of ~~cybersecurity~~the ~~risks~~Federal Home Loan Bank of Pittsburgh (FHLB-Pittsburgh), which is one of 11 regional Federal Home Loan Banks. The Bank has a line of credit with the FHLB-Pittsburgh that ~~could~~is ~~adversely~~secured ~~affect~~by ~~our~~a ~~business~~blanket lien on its loan portfolio. Access to this line of credit is critical if a funding need arises. However, ~~operations~~there can be no assurance that the FHLB-Pittsburgh will be able to provide funding when needed, ~~and~~nor can there be assurance that the FHLB-Pittsburgh will provide funds specifically to the Bank should its financial condition deteriorate and/or regulators prevent that access. The inability to access this source of funds could have a materially adverse effect on the Corporation’s financial flexibility if alternate financing is not available at acceptable interest rates. The failure of the FHLB-Pittsburgh or the FHLB system in general, may materially impair the Corporation’s ability to meet short- and long-term liquidity needs or to meet growth plans.

AsThe aCorporation ~~community~~owns ~~bank,~~common ~~we rely~~stock ~~heavily~~of onthe ~~information~~FHLB-Pittsburgh ~~technology and telecommunications systems~~ to ~~conduct~~qualify ~~our~~for ~~business~~membership ~~activities,~~in ~~such~~the asFHLB ~~processing~~system ~~transactions, maintaining records, communicating with customers~~ and ~~vendors,~~access ~~and~~services ~~providing~~from ~~online~~the ~~and mobile banking services~~FHLB-Pittsburgh. ~~These~~The ~~systems are subject~~FHLB-Pittsburgh tofaces ~~various~~a ~~cybersecurity~~variety ~~threats,~~of ~~such~~risks asin ~~unauthorized~~its ~~access,~~operations ~~hacking,~~including ~~phishing,~~interest ~~malware,~~rate ~~ransomware~~risk, ~~denial-of-service~~counterparty ~~attacks~~credit risk, and ~~other~~ ~~malicious~~adverse orchanges ~~criminal~~in ~~activities,~~its ~~that~~regulatory framework. ~~could~~In ~~compromise~~addition, the ~~confidentiality,~~11 ~~integrity,~~Federal orHome ~~availability~~Loan ofBanks ~~our~~are ~~systems,~~jointly ~~data,~~liable ~~or customer~~for ~~information.~~the ~~Cybersecurity~~consolidated ~~threats~~obligations ~~may~~of ~~originate~~the ~~from~~FHLB ~~external~~system. ~~sources,~~To ~~such~~the extent asthat ~~cybercriminals,~~one ~~hackers,~~FHLB ~~terrorists,~~cannot ormeet ~~foreign governments~~its obligations, orother ~~from~~FHLBs ~~internal~~can ~~sources,~~be ~~such~~called asupon ~~employees,~~to ~~contractors,~~make orrequired ~~vendors~~payments. ~~Cybersecurity~~Such ~~threats~~risks ~~may~~affecting ~~also~~the ~~target our third~~FHLB-~~party~~Pittsburgh ~~service~~could ~~providers,~~adversely ~~such~~impact asthe ~~core~~value ~~processors,~~of ~~cloud~~the ~~providers,~~Corporation’s orinvestment ~~payment~~in ~~processors,~~the ~~whose~~common ~~systems~~stock ~~and~~of ~~data~~the ~~are~~FHLB-Pittsburgh ~~interconnected~~and/or ~~with~~affect ~~ours~~its access to credit.

WeRisks ~~have~~Related ~~implemented various security measures and controls~~ to ~~protect~~an ~~our~~Investment ~~systems~~in and data from unauthorized access, use, or disclosure, such as firewalls, encryption, authentication, backup, and recovery, both internally and with our third party managed service provider. We also have established policies and procedures to monitor and respond to cybersecurity incidents, and to comply with applicable laws and regulations regarding cybersecurity and data privacy. We regularly review and update our security measures and controls to address the ~~evolving nature and~~Corporation’s ~~sophistication~~Common of cybersecurity threats. We also provide training and education to our employees and customers on cybersecurity awareness and best practices. In addition, we maintain cyber liability insurance coverage to mitigate the potential financial impact of cybersecurity incidents. Furthermore, internal and external auditors and regulators periodically review our processes, systems, and controls, including with respect to our information security program, to assess their design and operating effectiveness and make recommendations to strengthen our risk management program.Stock

WeThere ~~maintain~~is a ~~Business~~limited ~~Continuity~~trading ~~and~~market ~~Incident~~in ~~Response~~the ~~Program that provides~~Corporation acommon ~~documented framework for responding to actual or potential incidents~~stock, ~~including~~which ~~engagement~~will ofhinder ~~appropriate~~your ~~third~~ability ~~parties such as insurance providers and incident response professionals, and timely reporting~~ to ~~our~~sell ~~chief~~the ~~executive~~Corporation’s ~~officer~~common ~~and~~stock ~~board of directors as appropriate. The Business Continuity~~ and ~~Incident~~may ~~Response~~lower ~~Program is coordinated by~~ the ~~information~~market ~~security~~price ~~officer and key members~~ of ~~management are embedded into~~ the ~~Plan by its design~~stock. ~~The Business Continuity and Incident Response Program facilitates coordination across multiple areas of our organization and is evaluated at least annually.~~

~~Notwithstanding~~Although ~~our defensive measures and processes,~~ the ~~threat~~Corporation ~~posed~~common stock ~~by cyber-attacks~~ is ~~always~~quoted ~~present.~~on ~~Our internal systems~~OTCQX, ~~processes,~~the ~~and~~Corporation ~~controls~~common ~~are~~stock ~~designed to~~is ~~mitigate~~traded ~~loss~~only ~~from cyber-attacks~~sporadically. ~~Despite~~An ~~our~~active ~~efforts,~~trading wemarket ~~cannot~~for ~~guarantee~~shares ~~that~~of ~~our~~the ~~security measures and controls will be sufficient~~Corporation orcommon ~~effective~~stock tomay ~~prevent,~~never ~~detect,~~develop or ~~mitigate~~be ~~all cybersecurity incidents or to protect our systems and data from unauthorized access, use, or disclosure~~sustained. WeShareholders may ~~experience~~not ~~cybersecurity~~be ~~incidents~~able into ~~the~~sell ~~future~~shares ~~that~~when ~~could~~they ~~result~~desire inif ~~operational~~a ~~disruption,~~liquid ~~reputational~~trading market ~~damage,~~does ~~customer~~not ~~dissatisfaction,~~develop ~~loss of business~~ or ~~revenue,~~sell ~~legal~~them ~~liability,~~at ~~regulatory~~a ~~actions,~~price ~~fines,~~equal ~~penalties,~~to ortheir ~~remediation~~cost ~~costs. Any~~basis ofeven ~~these~~if ~~outcomes could have~~ a ~~material~~liquid ~~adverse~~trading ~~effect~~market ondoes ~~our business, operations, and financial condition~~develop. ~~While~~This welimited ~~have experienced~~trading ~~cybersecurity~~market ~~incidents~~for in the ~~past,~~Corporation ~~risks~~common ~~from~~stock ~~cybersecurity~~may ~~threats~~also ~~have~~result ~~not~~in ~~materially~~a ~~affected~~lower market value of the Corporation tocommon ~~date~~stock.

~~Item 2. Properties~~16

The Corporation ~~and~~can ~~its~~provide ~~subsidiary~~no ~~occupy~~assurance ~~twenty-two branch properties in Clinton~~regarding whether, ~~Columbia, Lycoming, Montour,~~ and ~~Northumberland~~if ~~Counties in~~so ~~Pennsylvania~~when, ~~which~~it ~~are~~will ~~used~~make ~~principally~~dividend aspayments ~~banking~~in ~~offices, as well as one ancillary facility. As of December 31, 2024,~~ the ~~Corporation and its subsidiary bank owned twenty-one of such properties and leased two such properties~~future.

WeAll ~~consider~~dividends ~~our~~paid ~~facilities~~by the Corporation toin the future will be ~~suitable~~dependent on the Corporation’s financial condition, results of operations, and ~~adequate~~cash ~~for~~flows, ~~our~~as well as capital regulations and dividend restrictions imposed by the rules and regulations of the Pennsylvania Department of Banking and Securities (“PADOBS”), the FDIC, and the Federal Reserve. The Federal Reserve and the FDIC have issued policy statements, which provide that bank holding companies and insured banks should generally only pay dividends out of current operating earnings. The FDIC also has the authority under federal law to enjoin a bank from engaging in what in its opinion constitutes an unsafe or unsound practice in conducting its business, including the payment of a dividend under certain circumstances. The Corporation can provide no assurance regarding whether, and ~~immediate~~if ~~future~~so ~~purposes~~when, it will make dividend payments in the future.

~~Item~~The 3.Corporation ~~Legal~~common ~~Proceedings~~stock is not FDIC insured and may lose value.

~~The~~Shares of the Corporation ~~and~~common ~~the~~stock ~~Bank~~ are ~~involved~~not insavings ~~various~~accounts ~~legal~~or ~~proceedings~~deposits ~~incidental~~and toare ~~their~~not ~~business.~~insured ~~Management~~or ~~believes~~guaranteed ~~that~~by ~~any~~the ~~such~~FDIC, ~~legal~~or ~~proceedings~~any ~~will~~other ~~not have~~governmental aagency, ~~material~~and ~~adverse~~involve ~~effect~~investment ~~upon~~risk, including the ~~Corporation’s~~possible ~~financial~~loss ~~condition~~of orthe ~~results~~entire value of ~~operations~~the investment.

~~Item~~The 4.Corporation’s ~~Mine~~shareholders have ~~Safety~~limited ~~Disclosures~~control over changes in the Corporation’s policies and operations, which increases the uncertainty and risks that shareholders face.

~~Not~~The ~~applicable~~Board of Directors of the Corporation determines the major policies of the Corporation, including its policies regarding growth and dividends. The Board of Directors may amend or revise these and other policies without a vote of the shareholders. The Board of Directors’ broad discretion in setting policies and shareholders’ inability to exert control over those policies increases the uncertainty and risks shareholders face.

17Item 1B. Unresolved Staff Comments

~~PART II~~None.

Item 51C. ~~Market for the Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities~~Cybersecurity

~~The~~We ~~Corporation~~are ~~had~~exposed ~~917~~to ~~stockholders of~~various ~~record~~cybersecurity ~~and~~risks ~~3,532,713~~that ~~shares~~could ofadversely ~~common~~affect ~~stock~~our ~~outstanding~~business, ~~par value of $1.25 per share~~operations, the only authorized class of common stock, outstanding as of December 31, 2024. Quotations for the Corporation’s common stock appear under the symbol “CCFN” on the OTCQX, a trading platform operated by OTC Markets Group for companies that are current in their reporting with federal banking regulators. These quotations represent inter-dealer prices and dofinancial ~~not include retail mark- up, markdown or commission~~condition. They may not necessarily represent actual transactions. The high and low closing sale prices and dividends per share of our common stock for the four quarters of 2024 and 2023 are summarized in the following table.

2024:	High ($)	Low ($)	Dividends Declared ($)
First quarter	35.75	28.98	0.44
Second quarter	34.75	29.00	0.44
Third quarter	35.00	32.00	0.44
Fourth quarter	44.00	32.60	0.44

As a community bank, we rely heavily on information technology and telecommunications systems to conduct our business activities, such as processing transactions, maintaining records, communicating with customers and vendors, and providing online and mobile banking services. These systems are subject to various cybersecurity threats, such as unauthorized access, hacking, phishing, malware, ransomware, denial-of-service attacks, and other malicious or criminal activities, that could compromise the confidentiality, integrity, or availability of our systems, data, or customer information. Cybersecurity threats may originate from external sources, such as cybercriminals, hackers, terrorists, or foreign governments, or from internal sources, such as employees, contractors, or vendors. Cybersecurity threats may also target our third-party service providers, such as core processors, cloud providers, or payment processors, whose systems and data are interconnected with ours.

2023:	High ($)	Low ($)	Dividends Declared ($)
First quarter	51.00	42.02	0.42
Second quarter	44.50	37.50	0.43
Third quarter	43.55	35.00	0.43
Fourth quarter	37.50	33.55	0.43

We have implemented various security measures and controls to protect our systems and data from unauthorized access, use, or disclosure, such as firewalls, encryption, authentication, backup, and recovery, both internally and with our third party managed service provider. We also have established policies and procedures to monitor and respond to cybersecurity incidents, and to comply with applicable laws and regulations regarding cybersecurity and data privacy. We regularly review and update our security measures and controls to address the evolving nature and sophistication of cybersecurity threats. We also provide training and education to our employees and customers on cybersecurity awareness and best practices. In addition, we maintain cyber liability insurance coverage to mitigate the potential financial impact of cybersecurity incidents. Furthermore, internal and external auditors and regulators periodically review our processes, systems, and controls, including with respect to our information security program, to assess their design and operating effectiveness and make recommendations to strengthen our risk management program.

We ~~have~~maintain ~~paid~~a ~~cash~~Business ~~dividends since~~Continuity ~~organization~~and ofIncident ~~the~~Response ~~Corporation~~Program inthat ~~1983.~~provides Ita isdocumented ~~our~~framework ~~present~~for ~~intention~~responding to ~~continue~~actual ~~the~~or ~~dividend~~potential ~~payment policy~~incidents, ~~although~~including ~~the~~engagement ~~payment~~ of ~~future~~appropriate ~~dividends~~third ~~must~~parties ~~necessarily~~such ~~depend~~as ~~upon~~insurance ~~earnings,~~providers ~~financial~~and ~~position,~~incident ~~restrictions~~response ~~under~~professionals, ~~applicable law~~ and ~~other~~timely ~~factors~~reporting ~~relevant at~~to ~~the~~our ~~time~~regulators, ~~the~~chief ~~Board~~executive ofofficer ~~Directors~~and ~~considers~~board ~~any~~of ~~declaration~~directors ofas ~~dividends~~appropriate. The ~~Our~~Business ~~ability~~Continuity toand ~~pay~~Incident ~~dividends~~Response Program is ~~subject~~coordinated toby ~~certain~~the ~~legal~~information ~~restrictions described~~security inofficer ~~Note~~and ~~14,~~key ~~“Regulatory~~members ~~Matters”~~ of ~~the~~management ~~“Notes~~are toembedded ~~Consolidated~~into ~~Financial~~the ~~Statements”~~Plan ~~included~~by ~~under Item~~its 8design. ofThe ~~this~~Business ~~report,~~Continuity and inIncident ~~the~~Response ~~“Capital~~Program ~~Resources”~~facilitates ~~section~~coordination ofacross ~~the~~multiple ~~“Management’s~~areas ~~Discussion and Analysis~~ of ~~Consolidated~~ ~~Financial~~our ~~Conditions~~organization and ~~Results~~is ofevaluated ~~Operations,”~~at ~~included~~least ~~under Item 7 of this report~~annually.

~~Effective~~ ~~May~~Notwithstanding ~~14,~~our ~~2024,~~defensive ~~the Corporation’s~~measures ~~Board~~and ofprocesses, ~~Directors~~the ~~authorized~~threat aposed ~~new~~by ~~treasury~~cyber-attacks ~~stock~~is ~~repurchase~~always ~~program~~present. ~~Under~~Our ~~the~~internal ~~program~~systems, ~~the~~processes, ~~Corporation~~and ~~was~~controls ~~authorized~~ are designed to ~~repurchase~~mitigate uploss tofrom ~~178~~cyber-attacks. Despite our efforts,~~614~~ ~~shares~~we ofcannot ~~the~~guarantee ~~Corporation’s~~that ~~common~~our ~~stock.~~security ~~The~~measures ~~Board~~and ofcontrols ~~Directors’~~will ~~authorization~~be ~~provides~~sufficient ~~that the~~or ~~treasury~~effective ~~stock~~to ~~repurchase~~prevent, ~~program~~detect, ~~shall~~or ~~continue~~mitigate ~~until~~all ~~the~~cybersecurity ~~earlier~~incidents ofor ~~the~~to ~~date~~protect anour ~~aggregate~~systems ofand ~~178~~data from unauthorized access,~~614~~ ~~shares~~use, ofor ~~common~~disclosure. ~~stock~~We ~~has been~~may ~~purchased~~experience orcybersecurity ~~May~~incidents 14in the future that could result in operational disruption, ~~2026~~reputational damage, orcustomer ~~until~~dissatisfaction, ~~suspended~~loss of business or ~~terminated~~revenue, bylegal ~~the~~liability, ~~Board~~regulatory ofactions, ~~Directors~~fines, inpenalties, ~~its~~or ~~sole~~remediation ~~discretion~~costs. ~~The~~Any ~~following~~of ~~table sets~~these ~~forth~~outcomes could have a ~~summary~~material ofadverse ~~purchases~~effect byon ~~the~~our ~~Corporation~~business, operations, and financial condition. While we have experienced cybersecurity incidents in the ~~open market~~past, ofrisks ~~its~~from ~~equity~~cybersecurity ~~securities~~threats ~~during~~have not materially affected the ~~fourth~~Corporation ~~quarter~~to ~~2024:~~date.

Period	Total Number of Shares Purchased		Average Price Paid per Share		Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs		Maximum Number of Shares that May Yet be Purchased Under the Plans or Programs
October 1 - 31, 2024		—	$	—		—		178,614
November 1 - 30, 2024		44,025	$	34.46		44,025		134,589
December 1 - 31, 2024		—	$	—		—		134,589

18Item 2. Properties

The Corporation ~~sells~~and ~~shares~~its ofsubsidiary ~~its~~occupy ~~$1.25 par~~twenty-two ~~value~~branch ~~per~~properties ~~share~~in ~~common~~Clinton, ~~stock~~Columbia, toLycoming, ~~employee~~Montour, ~~participants~~and Northumberland Counties in ~~its~~Pennsylvania, ~~Employee~~which ~~Stock~~are ~~Purchase~~used ~~Plan~~principally as banking offices, as well as one ancillary facility. ~~The~~As ~~following~~of ~~table~~December ~~summarizes~~31, 2025, the Corporation ~~quarterly~~and ~~sales~~its ofsubsidiary ~~shares~~bank ~~within~~owned ~~the~~twenty-one ~~past~~of ~~three~~such ~~years~~properties ~~pursuant~~and toleased ~~the~~two ~~plan:~~such properties.

Date of Sale	Number of Shares Sold		Offering Price		Aggregate Consideration Received
December 31, 2024		1,211	$	30.52	$	36,960
September 30, 2024		1,500		30.44		45,660
June 30, 2024		1,739		27.97		48,640
March 31, 2024		2,012		27.98		56,296
December 31, 2023		593		32.09		19,029
September 30, 2023		614		33.63		20,649
June 30, 2023		460		38.22		17,581
March 31, 2023		514		38.38		19,727
December 31, 2022		430		42.05		18,082
September 30, 2022		501		42.70		21,393
June 30, 2022		387		46.64		18,050
March 31, 2022		333		47.13		15,694

We consider our facilities to be suitable and adequate for our current and immediate future purposes.

~~The~~ ~~shares~~Item in3. ~~the~~Legal table above issued on March 31, 2022, and each quarter thereafter through June 30, 2023, were issued without registration under the Securities Act of 1933, as amended, in reliance upon the exemption provided by 17 CFR 230.701.Proceedings

~~Item~~The 6Corporation and the Bank are involved in various legal proceedings incidental to their business. ~~Reserved~~Management believes that any such legal proceedings will not have a material adverse effect upon the Corporation’s financial condition or results of operations.

Item 74. ~~Management’s~~Mine ~~Discussion~~Safety ~~and Analysis of Financial Condition and Results of Operations~~Disclosures

~~Management’s Discussion~~Not and Analysis of Financial Condition and Results of Operations, or MD&A, represents an overview of the financial condition and results of operations of the Corporation and should be read in conjunction with our consolidated financial statements and notes thereto included in Item 8, “Financial Statements and Supplementary Data” and Item 1A, “Risk Factors” of Part I to this Annual Report on Form 10-Kapplicable.

The Corporation is in the business of providing customary retail, commercial banking and financial services to individuals, businesses and local governments through its 22 branch offices operated by Journey Bank, the Corporation’s wholly-owned subsidiary. The Corporation’s 22 branch offices are operated in Clinton, Columbia, Lycoming, Montour and Northumberland counties in central Pennsylvania.18

~~CAUTIONARY~~PART ~~STATEMENT~~II

~~Certain~~Item ~~statements~~5. inMarket ~~this section~~for ~~and~~the ~~elsewhere~~Registrant’s inCommon ~~this Annual Report on Form 10-K~~Equity, ~~other~~Related ~~periodic reports filed by us under the Securities Exchange Act of 1934,~~Stockholder asMatters ~~amended,~~ and ~~any~~Issuer ~~other~~Purchases ~~written or oral statements made by or on behalf~~ of usEquity ~~may include “forward looking statements” within the meaning of the Private~~ Securities Litigation Reform Act of 1995 which reflect our current views with respect to future events and financial performance. Such forward looking statements are based on general assumptions and are subject to various risks, uncertainties, and other factors that may cause actual results to differ materially from the views, beliefs and projections expressed in such statements. These risks, uncertainties and other factors include, but are not limited to:

●The ~~Our~~Corporation ~~business~~had ~~and~~928 ~~financial~~stockholders of ~~results~~record ~~are affected by business~~ and ~~economic conditions~~3,536,754 ~~both~~shares ~~generally~~of ~~and~~common ~~specifically~~stock inoutstanding, ~~the~~par ~~mostly~~value ~~North~~of ~~Central Pennsylvania market in which we operate~~$1.25 ●per ~~Changes in interest rates and valuations in the debt~~share, ~~equity and other financial markets. ● Disruptions in~~ the ~~liquidity~~only ~~and~~authorized ~~other~~class ~~functioning~~ of ~~financial~~common ~~markets~~stock, ~~including~~outstanding as ~~such~~of ~~disruptions~~December in31, ~~the~~2025. ~~market~~Quotations for ~~real~~the ~~estate~~Corporation’s ~~and~~common ~~other~~stock ~~assets~~appear ~~commonly~~under ~~securing~~the ~~financial~~symbol ~~products.~~“CCFN” ●on ~~Actions by~~ the ~~Federal Reserve Board and other government agencies~~OTCQX, a ~~including~~trading ~~those~~platform ~~that~~operated ~~impact~~by ~~money~~OTC ~~supply~~Markets ~~and~~Group ~~market~~for ~~interest~~companies ~~rates.~~that ●are ~~Changes~~current in ~~our~~their ~~customers’~~reporting ~~and~~with ~~suppliers’~~federal ~~performance~~banking ~~in general and their creditworthiness in particular~~regulators. ●These quotations ~~Changes~~represent ininter-dealer ~~customer~~prices ~~preferences~~ and ~~behavior,~~do ~~whether~~not asinclude aretail ~~result~~mark- ofup, ~~changing~~markdown ~~business and economic conditions~~ or ~~other factors~~commission. ●They ~~Changes~~may ~~resulting~~not ~~from~~necessarily ~~the~~represent actual ~~enacted Dodd-Frank Wall Street Reform and Consumer Protection Act~~transactions. ●The Ahigh ~~continuation of recent turbulence in significant segments of the United States~~ and ~~global~~low ~~financial~~closing ~~markets,~~sale ~~particularly~~prices ~~if it worsens, could impact our performance, both directly by affecting our revenues~~ and ~~the~~dividends ~~value~~per share of our ~~assets~~common ~~and~~stock ~~liabilities~~for ~~and indirectly by affecting our customers and suppliers and~~ the ~~economy~~four ~~generally.~~quarters ●of ~~Our~~2025 ~~business~~ and 2024 ~~financial~~are ~~performance~~summarized ~~could be impacted as the financial industry restructures~~ in the ~~current~~following ~~environment by changes in the competitive landscape~~table.

2025:	High ($)	Low ($)	Dividends Declared ($)
First quarter	45.00	41.40	0.45
Second quarter	47.50	38.61	0.95
Third quarter	50.99	46.05	0.45
Fourth quarter	56.82	49.32	0.45

● Given current economic and financial market conditions, our forward-looking statements are subject to the risk that these conditions will be substantially different than we are currently expecting. ● Legal and regulatory developments could have an impact on our ability to operate our businesses or our financial condition or results of operations or our competitive position or reputation. Reputational impacts, in turn, could affect matters such as business generation and retention, our ability to attract and retain management, liquidity and funding. These legal and regulatory developments could include: (a) the unfavorable resolution of legal proceedings or regulatory and other governmental inquiries; (b) increased litigation risk from recent regulatory and other governmental developments; (c) the results of the regulatory examination process, and regulators’ future use of supervisory and enforcement tools; (d) legislative and regulatory reforms, including changes to laws and regulations involving tax, pension, education and mortgage lending, the protection of confidential customer information, and other aspects of the financial institution industry; and (e) changes in accounting policies and principles. ● Our business and operating results are affected by our ability to identify and effectively manage risks inherent in our businesses, including, where appropriate, through the effective use of third-party insurance and capital management techniques. ● Our ability to anticipate and respond to technological changes can have an impact on our ability to respond to customer needs and to meet competitive demands. ● Our ability to implement our business initiatives and strategies could affect our financial performance over the next several years. ● Competition can have an impact on customer acquisition, growth and retention, as well as on our credit spreads and product pricing, which can affect market share, deposits and revenues. ● Our business and operating results can also be affected by widespread natural disasters, terrorist activities or international hostilities, either as a result of the impact on the economy and capital and other financial markets generally or on us or on our customers and suppliers.

2024:	High ($)	Low ($)	Dividends Declared ($)
First quarter	35.75	28.98	0.44
Second quarter	34.75	29.00	0.44
Third quarter	35.00	32.00	0.44
Fourth quarter	44.00	32.60	0.44

~~The~~We ~~words~~have ~~“believe~~paid cash dividends since organization of the Corporation in 1983. It is our present intention to continue the dividend payment policy,” although the payment of ~~“expect~~future dividends must necessarily depend upon earnings,” ~~“anticipate~~financial position,” ~~“project”~~restrictions under applicable law and ~~similar~~other ~~expressions~~factors ~~signify~~relevant at ~~forward~~the ~~looking~~time ~~statements.~~the ~~Readers are~~Board ~~cautioned~~of ~~not~~Directors considers any declaration of dividends. Our ability to ~~place~~pay ~~undue~~dividends ~~reliance~~is onsubject ~~any~~to ~~forward~~certain ~~looking~~legal ~~statements~~restrictions described ~~made~~in byNote or13, on“Regulatory ~~behalf~~Matters” of ~~us.~~the ~~Any~~“Notes ~~such~~to ~~statement~~Consolidated ~~speaks~~Financial ~~only~~Statements” included under asItem 8 of this report, and in the ~~date~~“Capital Resources” section of the ~~statement~~“Management’s ~~was~~Discussion ~~made.~~and WeAnalysis ~~undertake~~of Consolidated noFinancial ~~obligation~~Conditions toand ~~update~~Results orof ~~revise~~Operations,” ~~any~~included ~~forward~~under ~~looking~~Item ~~statements~~7 of this report.

~~The~~Effective ~~following~~May ~~discussion~~14, ~~and~~2024, the Corporation’s ~~analysis~~Board ~~should~~of beDirectors ~~read~~authorized ina ~~conjunction~~new ~~with~~treasury stock repurchase program. Under the ~~detailed~~program, ~~information~~the ~~and~~Corporation ~~consolidated~~was ~~financial~~authorized ~~statements,~~to ~~including~~repurchase up ~~notes~~to ~~thereto~~178,614 ~~included elsewhere~~shares inof ~~this~~the ~~report~~Corporation’s common stock. ~~Our~~The ~~consolidated~~Board ~~financial~~of ~~condition~~Directors' ~~and~~authorization ~~results~~provides that the treasury stock repurchase program shall continue until the earlier of ~~operations~~the ~~are~~date ~~essentially~~an ~~those~~aggregate of ~~our~~178,614 ~~subsidiary~~shares of common stock has been purchased or May 14, ~~the~~2026, ~~Bank.~~or ~~Therefore,~~until suspended or terminated by the ~~analysis~~Board ~~that~~of ~~follows~~Directors, isin ~~directed~~its tosole discretion. The following table sets forth a summary of purchases by the ~~performance~~Corporation, in the open market, of its equity securities during the ~~Bank.~~fourth quarter 2025:

CRITICAL ACCOUNTING POLICIES AND ESTIMATES

Total Number of

Maximum

Number of

Purchased

Shares that May

as Part of

Yet

Publicly

be Purchased

Total Number

Average

Announced

Under

of Shares

Price Paid

Plans

the Plans or

Period

Purchased

per Share

or Programs

Programs

October 1 - 31, 2025

—

134,589

November 1 - 30, 2025

—

134,589

December 1 - 31, 2025

—

134,589

The Corporation’s ~~financial statements~~sells ~~have~~shares ~~been prepared in conformity with accounting principles generally accepted in the United States~~ of ~~America (“U.S.~~ ~~GAAP”)~~its ~~and conform to general practices within the banking industry~~$1.25 Inpar ~~the~~value ~~preparation~~per ofshare ~~its~~common ~~financial~~stock ~~statements, the Corporation is required~~ to ~~make~~employee ~~estimates,~~participants ~~judgments~~in ~~and~~its ~~assumptions~~Employee ~~that affect the reported amounts of assets, liabilities, revenues and expenses~~Stock asPurchase ~~well as the disclosure of contingent assets and liabilities~~Plan. ~~Actual results could differ from those estimates.~~ The ~~Corporation’s critical~~following ~~accounting~~table ~~policies~~summarizes ~~are~~the ~~fundamental~~quarterly tosales ~~understanding this MD&A and are more fully described in Note 1 (“Summary~~ of ~~Significant~~ ~~Accounting~~shares ~~Policies”)~~ within the ~~Corporation’s~~past ~~Notes~~three years pursuant to the ~~Consolidated Financial Statements which are included in Part II of this Annual Report on Form 10-K.~~plan:

The Corporation defines its critical accounting policies, in accordance with U.S. GAAP. U.S. GAAP requires the Corporation to make subjective estimates and judgments about matters that are uncertain and are likely to have a material impact on its financial condition and results of operations, as well as the specific manner in which those principles are applied. Application of assumptions different than those used by the Corporation could result in material changes in the Corporation’s financial position or results of operations. The Corporation believes its policies governing the determination of the allowance for credit losses, the fair value of available-for-sale debt securities and the fair values of assets acquired and liabilities assumed in business combinations are critical accounting policies. The Corporation’s management has reviewed and approved these critical accounting policies and has discussed these policies with its Audit Committee. The Corporation believes the critical accounting policies used in the preparation of its financial statements that require significant estimates and judgments are as follows:19

Allowance for Credit Losses (ACL) - Loans

Date of Sale	Number of Shares Sold		Offering Price		Aggregate Consideration Received
December 31, 2025		777	$	45.01	$	34,973
September 30, 2025		979		42.78		41,882
June 30, 2025		1,032		37.69		38,896
March 31, 2025		1,253		37.79		47,351
December 31, 2024		1,211		30.52		36,960
September 30, 2024		1,500		30.44		45,660
June 30, 2024		1,739		27.97		48,640
March 31, 2024		2,012		27.98		56,296
December 31, 2023		593		32.09		19,029
September 30, 2023		614		33.63		20,649
June 30, 2023		460		38.22		17,581
March 31, 2023		514		38.38		19,727

~~As of~~The ~~January~~shares 1,in ~~2023,~~ the ~~Corporation~~table ~~adopted~~above ~~Accounting~~issued ~~Standards~~on ~~Update~~March ~~(“ASU”) 2016-13~~31, ~~Financial~~ ~~Instruments~~2023, –and ~~Credit~~June ~~Losses~~30, ~~(Topic 326): “Measurement of Credit Losses on Financial Instruments~~2023,” ~~which~~were ~~replaced~~issued ~~the~~without ~~current loss~~registration ~~impairment methodology~~ under ~~U.S.~~the ~~GAAP~~Securities ~~with~~Act ~~a methodology that reflects expected credit losses and requires consideration~~ of a broader range of reasonable and supportable information to form credit loss estimates in an effort to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit. ASU 2016-131933, ~~commonly~~ ~~referred to~~ as ~~Current Expected Credit Losses (“CECL”)~~amended, ~~requires~~in areliance ~~financial~~upon ~~asset (or a group of financial assets) to be measured at an amortized cost basis and presented at~~ the ~~net~~exemption ~~amount expected to be collected. The amendments in this update affect~~provided ~~financial~~by ~~assets~~17 ~~and~~CFR ~~net investment in leases that are not accounted for at fair value through net income, including such financial~~ 230.701.

20Item 6. Reserved

~~assets~~ asItem ~~loans,~~7. ~~debt~~Management’s ~~securities,~~Discussion ~~trade receivables, net investments in leases, off-balance-sheet credit exposures, reinsurance receivables,~~ and ~~any~~Analysis ~~other financial assets not excluded from the scope that have the contractual right to receive cash. Upon adoption~~ of ~~ASU 2016-13~~Financial onCondition ~~January~~and 1,Results ~~2023, the Corporation recorded an incremental decrease in the ACL through a cumulative effect adjustment to equity, net~~ of ~~tax, with subsequent adjustments charged to earnings through a provision for credit losses.~~Operations

Management’s ~~evaluates~~Discussion ~~the~~and ~~credit~~Analysis ~~quality~~ of ~~the~~Financial ~~Corporation’s~~Condition ~~loan~~and ~~portfolio~~Results onof anOperations, ~~ongoing~~or ~~basis~~MD&A, ~~and~~represents ~~performs~~an aoverview ~~formal review~~ of the ~~adequacy~~financial condition ofand ~~the~~results ~~ACL~~of onoperations aof ~~quarterly~~the ~~basis.~~Corporation ~~The ACL is established through a provision for credit losses charged to earnings~~ and isshould ~~maintained at a level that management considers to~~ be anread ~~estimate~~in ofconjunction ~~the~~with ~~lifetime~~our ~~expected~~consolidated ~~credit~~financial ~~losses~~statements ofand ~~the~~notes ~~portfolio as of the evaluation date.~~thereto ~~Loans,~~included orin ~~portions~~Item ~~of loans~~8, ~~determined~~"Financial byStatements ~~management~~and toSupplementary beData" and ~~uncollectible~~Item ~~are charged off against the ACL~~1A, "Risk ~~while~~Factors" ~~recoveries~~ of ~~amounts~~Part I ~~previously~~to ~~charged~~this ~~off~~Annual ~~are~~Report ~~credited~~on toForm ~~the ACL~~10-K.

~~Determining the~~The ~~amount of the ACL~~ Corporation is ~~considered~~in ~~a critical accounting estimate because it requires significant judgment and~~ the ~~use~~business of ~~estimates~~providing ~~related to~~customary ~~the amount and timing of expected future cash flows~~retail, ~~estimated~~commercial ~~losses~~banking ~~on pools of homogeneous loans based on historical loss experience~~ and ~~reasonable~~financial ~~and~~services ~~supportable~~to ~~forecasts~~individuals, asbusinesses ~~well as consideration of current economic trends~~ and ~~conditions,~~local ~~all~~governments through ofits ~~which~~22 ~~may~~branch ~~be susceptible~~offices tooperated ~~significant~~by ~~change.~~Journey ~~Banking regulators~~Bank, ~~as an integral part of their examination of~~ the Corporation,’s ~~also~~wholly-owned ~~review~~subsidiary. The ~~the ACL,~~Corporation’s ~~and~~22 ~~may~~branch ~~require,~~offices ~~based~~are onoperated ~~information~~in ~~available to them at the time of their examination~~Clinton, ~~that certain loan balances be charged off or require that adjustments be made to the ACL. Additionally~~Columbia, ~~the ACL is determined~~Lycoming, inMontour ~~part, by the composition~~ and ~~size~~Northumberland ofcounties ~~the~~in ~~loan~~Northcentral ~~portfolio~~Pennsylvania.

~~The ACL~~CAUTIONARY consists of two components, a specific component and a general component. The specific component relates to loans that are individually analyzed for impairment. For such loans, an allowance is established when the discounted cash flows, collateral value or observable market price of the loan is lower than the carrying value of that loan. The general component covers all other loans and is based on historical loss experience as adjusted for qualitative factors. The general reserve component of the ACL is based on pools of performing loans segregated by loan segment. Historical loss factors are applied based on historical losses in each risk rating category to determine the appropriate reserve related to those loans.STATEMENT

~~Although~~Certain ~~the~~statements ~~Corporation’s~~in ~~management~~this ~~uses~~section ~~the~~and ~~best~~elsewhere ~~information~~in ~~available,~~this ~~the~~Annual ~~level~~Report ofon ~~the~~Form ~~ACL~~10-K, ~~remains~~other anperiodic ~~estimate~~reports ~~which~~filed isby ~~subject~~us tounder ~~significant~~the ~~judgment~~Securities ~~and~~Exchange ~~short-term~~Act ~~change which~~of ~~could~~1934, ~~have~~as aamended, and ~~significant~~any ~~impact~~other onwritten ~~the~~or ~~Corporation’s~~oral ~~financial~~statements ~~condition~~made by or ~~results~~on behalf of ~~operations.~~us ~~From~~may ~~January~~include 1,“forward ~~2024~~looking ~~to December~~statements” ~~31,~~within ~~2024,~~ the ~~level~~ meaning of the ~~ACL~~Private ~~increased~~Securities ~~from~~Litigation ~~$9.3~~Reform ~~million~~Act toof ~~$9.9~~1995 ~~million~~which ~~and~~reflect ~~the~~our ~~ACL~~current views with respect to ~~total~~future ~~loans~~events ~~increased~~and ~~from~~financial 0performance.~~87% to~~ ~~0.88%.~~Such ~~The~~forward ~~Corporation’s~~looking ~~ACL~~statements isare ~~highly~~based ~~sensitive~~on togeneral ~~the methods,~~ assumptions and ~~estimates~~are ~~underlying~~subject ~~its~~to ~~calculation.~~various ~~See~~risks, ~~Note 1~~uncertainties, ~~“Summary of Significant Accounting Policies”~~ and ~~Note~~other 5factors ~~“Loans~~that may ~~and~~cause ~~Allowance~~actual ~~for~~results ~~Credit~~to ~~Losses”~~differ ~~within~~materially ~~the Corporation’s~~from ~~Notes to~~ the ~~Consolidated~~views, ~~Financial~~beliefs ~~Statements~~and ~~which~~projections ~~are~~expressed ~~included~~ in ~~Part~~such IIstatements. ofThese ~~this~~risks, ~~Annual Report on Form 10-K for~~uncertainties ~~additional~~and ~~qualitative~~other ~~and~~factors ~~quantitative~~include, ~~information~~but ~~about~~are ~~the~~not ~~Corporation’s~~limited ~~ACL.~~to:

~~Fair~~· ~~Value~~Our ofbusiness ~~Available-For-Sale Debt~~and ~~Securities~~financial results are affected by business and economic conditions, primarily in the Northcentral Pennsylvania market in which we operate.

~~Another material~~· ~~estimate~~Changes isin ~~the~~interest ~~calculation~~rates ofand ~~fair~~valuations ~~values~~in of the ~~Corporation’s~~ debt ~~securities. For the Corporation’s debt securities~~, ~~the~~ ~~Corporation~~equity ~~receives estimated fair values from an independent valuation service, or from brokers. In developing fair values, the valuation service~~ and ~~the brokers compare securities that have similar maturities, coupon rates, and credit ratings. Estimated fair values of debt securities may vary among brokers and~~ other ~~valuation~~financial ~~services~~markets.

~~Business~~· ~~Combinations~~Disruptions in the liquidity and other functioning of financial markets, including such disruptions in the market for real estate and other assets commonly securing financial products.

~~Business combinations~~· ~~are~~Actions ~~accounted for~~ by ~~applying~~ the ~~acquisition~~Federal ~~method.~~Reserve AsBoard ~~of acquisition date, the identifiable assets acquired~~ and ~~liabilities assumed~~other ~~are~~government ~~measured~~agencies, at fair value and recognized separately from goodwill. Results of operations of the acquired entity are included in the consolidated statement of income from the date of acquisition. The calculation of intangible assets including ~~core~~those ~~deposits~~that ~~and the~~impact ~~fair~~money ~~value~~supply of loans are based on significant judgements. Core deposit intangibles are calculated using a discounted cash flow model based on various factors including discount rate, attrition rate, interest rate, cost of alternative funds and net maintenance costs. Loans acquired in connection with acquisitions are recorded at their acquisition-date fair value. Determining the fair value of the acquired loans involves estimating the principal and interest cash flows expected to be collected on the loans and discounting those cash flows at a market ~~rate of~~ interest. Management considers a number of factors in evaluating the acquisition-date fair value including the remaining life of the acquired loans, delinquency status, estimated prepayments, payment options and other loan features, internal risk grade, estimated value of the underlying collateral and interest rate environmentrates.

~~MERGER~~· ~~WITH~~Changes ~~MUNCY~~in ~~BANK~~our ~~FINANCIAL,~~customers’ ~~INC~~and suppliers’ performance in general and their creditworthiness in particular.

~~The Corporation’s~~· ~~merger~~Changes ~~with~~in ~~Muncy~~customer ~~Bank~~preferences ~~Financial,~~and ~~Inc. (“MBF”) was completed November 11~~behavior, ~~2023.~~whether ~~MBF~~as ~~was~~ a ~~Pennsylvania corporation~~result ~~that~~of ~~conducted~~changing ~~its~~ business ~~primarily through its wholly owned subsidiary The Muncy Bank & Trust Company, which operated from a main office in Muncy, Pennsylvania,~~ and ~~had nine~~economic ~~additional~~conditions ~~branches~~or ~~throughout~~other ~~Northcentral Pennsylvania~~factors.

20 21

At· ~~the~~A ~~effective~~downturn ~~time~~in ofsignificant ~~the merger,~~segments ~~MBF’s shareholders received a fixed exchange ratio~~ of ~~0.9259 shares of~~ the ~~Corporation’s~~United ~~common~~States ~~stock~~or ~~for~~global ~~each~~financial ~~MBF common~~markets ~~share~~could ~~they~~impact ~~owned,~~our ~~except to the extent of cash received for fractional shares at $41.47 per share. Total purchase consideration was $55~~performance,~~101,000,~~ ~~including~~both ~~common~~directly ~~stock~~by ~~with~~affecting aour ~~fair~~revenues ~~value of $55,092,000~~ and ~~cash~~the ofvalue ~~$9,000 paid for fractional shares. Holders~~ of ~~MBF common~~our ~~stock~~assets ~~prior~~and toliabilities ~~the~~and ~~consummation~~indirectly ofby ~~the~~affecting ~~merger~~our ~~held~~customers ~~approximately~~and ~~41.7%~~suppliers ofand the ~~Corporation’s~~economy ~~common stock outstanding immediately following the merger~~generally.

In· ~~connection~~Our ~~with~~business ~~the acquisition, effective November 11, 2023, the Corporation recorded goodwill of $17.7 million~~ and afinancial ~~core~~performance ~~deposit~~could ~~intangible~~be ~~asset~~impacted ofas ~~$12.1~~the ~~million. Assets~~financial ~~acquired~~industry ~~totaled~~restructures $671.4 million, including gross loans valued at $504.1 million, available-for-sale debt securities valued at $93.0 million, bank-owned life insurance valued at $17.8 million and premises and equipment, net, valued at $14.9 million. Liabilities assumed totaled $634.0 million, including deposits valued at $521.3 million and borrowings valued at $105.5 million. The assets purchased and liabilities assumed in the ~~acquisition~~current ~~were~~environment ~~recorded~~by atchanges ~~their~~in ~~preliminary estimated fair values at~~ the ~~time~~competitive ~~of closing and may be adjusted for up to one year subsequent to the acquisition~~landscape.

~~For~~· ~~the~~Given ~~year~~current ~~ended~~economic ~~December 31,~~and ~~2024,~~financial ~~the~~market ~~Corporation~~conditions, ~~incurred~~our ~~pre~~forward-~~tax~~looking ~~merger-related~~statements ~~expenses~~are ~~related~~subject to the ~~MBF~~risk ~~transaction~~that ofthese ~~$241,000~~conditions ~~compared~~will tobe ~~$3,028,000, for~~substantially ~~the~~different ~~year~~than ~~ended~~we ~~December~~are ~~31,~~currently ~~2023~~expecting. Merger-related expenses include voluntary severance and similar expenses as well as expenses related to conversion of MBF’s core banking system into the Corporation’s core system and legal and other professional expenses.

~~FINANCIAL~~· ~~CONDITION~~Legal, regulatory and governmental developments could have an impact on our ability to operate our businesses, our financial condition, results of operations, our competitive position or reputation. Reputational impacts, in turn, could affect matters such as business generation and retention, our ability to attract and retain management, liquidity and funding. These legal and regulatory developments could include: (a) the unfavorable resolution of legal proceedings or regulatory and other governmental inquiries; (b) increased litigation risk from recent regulatory and other governmental developments; (c) the results of the regulatory examination process, and regulators’ future use of supervisory and enforcement tools; (d) legislative and regulatory reforms, including changes to laws and regulations involving tax, pension, education and mortgage lending, the protection of confidential customer information, and other aspects of the financial institution industry; and (e) changes in accounting policies and principles.

~~Total~~· ~~assets~~A atdeterioration ~~December 31,~~of ~~2024,~~the ~~were~~credit ~~$1.596~~rating ~~billion,~~for aUnited ~~decrease~~States oflong-term ~~$43.8~~sovereign ~~million,~~debt or ~~2.7%~~the ~~from~~impact ~~$1.640~~of ~~billion~~uncertain ator ~~December~~changing ~~31,~~political ~~2023. The change in total assets primarily reflected decreases in available-for-sale debt securities~~conditions, ~~restricted~~including ~~investment~~federal ingovernment ~~bank~~shutdowns ~~stocks~~ and ~~deferred~~uncertainty ~~tax assets,~~regarding ~~net,~~United ~~partially~~States ~~offset~~fiscal ~~by an increase in loans receivable. Available-for-sale~~ debt ~~securities decreased $90.1 million~~, ~~restricted~~ ~~investment~~deficit ~~in bank stocks decreased $3.3 million~~ and ~~deferred~~budget ~~tax assets, net, decreased $2~~matters.6 million. Gross loans receivable increased $57.5 million. Total liabilities at December 31, 2024, were $1.430 billion, a decrease of $56.4 million, or 3.8% from $1.486 billion at December 31, 2023. Deposit balances increased by $141.8 million, short-term borrowings decreased $184.1 million and long-term borrowings decreased $14.9 million since December 31, 2023.

~~Total~~· ~~average~~The ~~assets~~impacts ~~increased 51.3%~~of ~~from $1.053 billion for the year ended December 31~~tariffs, ~~2023,~~sanctions toand ~~$1.593~~other ~~billion~~trade ~~for~~policies ~~the~~of ~~year ended December 31, 2024, primarily related to~~ the ~~MBF~~United ~~merger.~~States ~~Average~~and ~~earning~~its ~~assets~~global ~~were~~trading ~~$1.491~~counterparts ~~billion for the year ended December 31, 2024~~ and ~~$1.009 billion for~~ the ~~year~~resulting ~~ended December~~impact ~~31,~~on ~~2023. Average interest-bearing liabilities were $1.159 billion for~~ the ~~year~~our ~~ended~~business ~~December 31, 2024~~ and ~~$763.4~~our ~~million for the year ended December 31, 2023~~customers.

~~Available-for-sale~~· ~~debt~~Our ~~securities decreased~~business ~~$90.1~~and ~~million~~operating toresults ~~$323.2~~are ~~million~~affected atby ~~December~~our ~~31,~~ability 2024 from $413.3 million at December 31, 2023. During the year ended December 31, 2024, the Corporation sold available-for-sale debt securities with a total market value of $51.7 million, the proceeds of which were primarily utilized to ~~paydown~~identify ~~short-term~~and ~~FHLB~~effectively ~~borrowings.~~manage ~~Securities~~risks ~~sold~~inherent ~~included~~in ~~$35.6~~our ~~million of US government agency securities~~businesses, ~~$15.5 million of mortgaged-backed securities and $563~~including,~~000~~ ofwhere ~~collateralized mortgage obligations. In addition to the securities sold~~appropriate, ~~the~~through ~~Corporation received proceeds from paydowns, calls and maturities of available-for-sale debt securities of $55.3 million during~~ the ~~year~~effective ~~ended~~use ~~December 31, 2024. Partially offsetting these changes was an increase in fair value~~ of ~~available~~third-~~for-sale~~party ~~debt~~insurance ~~securities of $1.4 million~~ and ~~purchases of~~capital ~~$14.9~~management ~~million for the year ended December 31, 2024~~techniques.

~~Restricted~~· ~~investment~~Our inability ~~bank stocks~~to ~~decreased~~anticipate ~~$3.3~~and ~~million~~respond to ~~$7.1~~technological ~~million~~changes atcan ~~December~~have ~~31,~~an ~~2024~~impact ~~from~~on ~~$10.4~~our ~~million~~ability ~~at December 31, 2023. This decrease is directly attributable~~ to ~~the~~respond ~~decrease in required FHLB stock holdings due~~ to ~~the~~customer ~~paydown~~needs ~~in short~~ and ~~long-term~~to ~~FHLB~~meet ~~borrowings~~competitive demands.

~~Deferred~~· ~~tax~~Our ~~assets,~~ability ~~net, decreased $2.6 million~~ to ~~$10.0~~implement ~~million~~our atbusiness ~~December~~initiatives ~~31,~~and ~~2024~~strategies ~~from~~could ~~$12.6~~affect ~~million~~our atfinancial ~~December~~performance ~~31,~~over ~~2023. This decrease is primarily related to decreases in deferred tax assets, net, related to core deposit intangibles and purchase accounting adjustments for~~ the ~~year~~next ~~ended~~several ~~December 31, 2024~~years.

~~Gross~~· ~~loans~~Competition ~~not~~can ~~held~~have ~~for~~an ~~sale increased~~impact ~~5.4%~~on tocustomer ~~$1.126~~acquisition, ~~billion~~growth atand ~~December 31~~retention, ~~2024~~as ~~from~~well ~~$1.068~~as ~~billion~~on atour ~~December~~credit ~~31,~~spreads ~~2023.~~and ~~This~~product ~~increase~~pricing, iswhich ~~related~~can toaffect ~~strong~~market ~~loan demand~~share, ~~during~~deposits ~~the~~and ~~year ended December 31, 2024~~revenues.

~~Interest-bearing~~· ~~deposits increased~~Our ~~$148.1~~business ~~million~~and tooperating ~~$1.033~~results ~~billion~~can atalso ~~December~~be ~~31,~~affected ~~2024~~by ~~from~~widespread ~~$884.7~~natural ~~million at December 31~~disasters, ~~2023.~~terrorist ~~Noninterest-bearing~~activities ~~deposits decreased~~or ~~2.4%~~international ~~from $266.0 million at December 31~~hostilities, ~~2023~~either toas ~~$259.7 million at December 31, 2024. The increase in interest-bearing deposits during the year ended December 31, 2024 was~~ a result of athe ~~strategic~~impact ~~initiative~~on tothe ~~reposition customer repurchase agreements~~economy, ~~which are~~capital ~~classified~~and asother ~~short-term~~financial ~~borrowings~~markets generally, ~~into~~or ~~core~~on ~~deposit~~us ~~accounts.~~or ~~The~~our ~~Bank~~customers ~~anticipates~~and ~~a continued migration of customer repurchase accounts from short-term borrowings to interest bearing deposits moving into 2025~~suppliers. ~~The decrease in noninterest-bearing deposits was a result of the migration of noninterest-bearing deposit accounts into interest bearing products for the year ended December 31, 2024.~~

~~Short-term~~The ~~borrowings~~words ~~decreased~~“believe,” ~~$184~~“expect,” “anticipate,” “project” and similar expressions signify forward looking statements.1 ~~million~~Readers are cautioned not to ~~$68.4~~place ~~million~~undue atreliance ~~December~~on ~~31,~~any ~~2024~~forward ~~from~~looking ~~$252.5~~statements ~~million~~made atby ~~December~~or ~~31,~~on ~~2023.~~behalf ~~This~~of ~~change~~us. ~~was~~Any ~~primarily~~such ~~related~~statement tospeaks ~~the~~only ~~migration~~as of ~~customer~~the ~~repurchase~~date ~~agreements~~the asstatement ~~well~~was asmade. aWe ~~paydown~~undertake inno ~~short-term~~obligation ~~FHLB~~to ~~borrowings~~update ~~during~~or ~~the~~revise ~~year~~any asforward ~~discussed~~looking ~~above~~statements.

22The following discussion and analysis should be read in conjunction with the detailed information and consolidated financial statements, including notes thereto, included elsewhere in this report. Our consolidated financial condition and results of operations are essentially those of our subsidiary, Journey Bank. Therefore, the analysis that follows is directed to the performance of the Bank.

~~Long-term~~CRITICAL ~~borrowings~~ACCOUNTING ~~were~~POLICIES ~~$55.5~~AND million at December 31, 2024 compared to $70.5 million at December 31, 2023. This decrease is primarily related to $15.2 million in long-term borrowing maturities during the year ended December 31, 2024.ESTIMATES

~~Total~~The ~~stockholder~~Corporation’s financial ~~equity~~statements ~~increased~~have bybeen ~~$12.6~~prepared ~~million,~~in orconformity ~~8.2%,~~with ~~from~~accounting ~~$153.8~~principles ~~million~~generally ataccepted ~~December~~in ~~31,~~the ~~2023,~~United toStates ~~$166~~of America (“U.4S. GAAP”) ~~million~~and atconform ~~December~~to ~~31,~~general ~~2024.~~practices ~~The~~within ~~increase is~~the ~~primarily~~banking ~~attributable~~industry. toIn ~~earnings,~~the ~~net~~preparation of ~~cash~~its ~~dividends~~financial statements, ~~along~~the ~~with~~Corporation is arequired ~~decrease~~to inmake ~~accumulated~~estimates, ~~other~~judgments ~~comprehensive~~and ~~loss~~assumptions ~~due~~that toaffect ~~changes in~~ the ~~fair~~reported ~~values~~amounts of ~~available-for-sale~~assets, ~~debt~~liabilities, ~~securities.~~revenues ~~Accumulated~~and ~~other~~expenses as ~~comprehensive~~well ~~loss~~as ~~amounted~~the todisclosure ~~$13~~of contingent assets and liabilities.9 ~~million~~Actual asresults ofcould ~~December 31,~~differ ~~2024~~from ~~and~~those ~~$15~~estimates.0 ~~million~~The asCorporation’s critical ofaccounting ~~December~~policies ~~31,~~are ~~2023.~~fundamental ~~These~~to ~~increases~~understanding ~~were~~this ~~partially~~MD&A ~~offset~~and byare anmore ~~increase~~fully described in ~~treasury~~Note ~~stock~~1 (“Summary of Significant ~~$1.5~~Accounting ~~million related~~Policies”) towithin athe ~~repurchase~~Corporation’s ~~during~~Notes to the ~~year~~Consolidated Financial ~~ended~~Statements ~~December~~which ~~31,~~are ~~2024~~included in Part II of this Annual Report on Form 10-K.

The loan-to-deposit ratio is a key measurement of liquidity. Our loan-to-deposit ratio decreased from 92.0% as of December 31, 2023 to 86.4% as of December 31, 2024 due to the asset/liability mix changes noted above, and remains within internal policy limits.21

ItThe Corporation isdefines ~~our~~its ~~opinion~~critical ~~that~~accounting ~~the asset/liability~~policies ~~mix~~in ~~and~~accordance ~~the~~with ~~interest~~U.S. ~~rate~~GAAP. ~~risk~~U.S. ~~associated~~GAAP ~~with~~requires the ~~balance~~Corporation ~~sheet~~to make subjective estimates and judgments about matters that are ~~within~~uncertain ~~manageable~~and ~~parameters.~~are ~~Constant~~likely ~~monitoring using~~to ~~asset/liability~~have ~~reports~~a material impact on its financial condition and ~~interest~~results of ~~rate~~operations, ~~risk~~as ~~scenarios~~well ~~are~~as the specific manner in ~~place~~which ~~along~~those ~~with~~principles ~~quarterly~~are ~~asset/liability~~applied. ~~management~~Application ~~meetings~~of onassumptions different than those used by the ~~committee~~Corporation ~~level~~could byresult in material changes in the ~~Bank~~Corporation’s ~~Board~~financial position or results of ~~Directors~~operations. ~~Additionally~~The Corporation believes its policies governing the determination of the allowance for credit losses, the ~~Bank’s~~fair ~~Asset/Liability~~value ~~Committee~~of ~~meets~~available-for-sale ~~quarterly~~debt ~~with~~securities anand ~~investment~~the ~~consultant~~fair values of assets acquired and ~~works~~liabilities ~~with~~assumed ~~independent~~in ~~third~~business ~~parties~~combinations ~~regularly~~are tocritical ~~review~~accounting ~~key~~policies. ~~assumptions~~The Corporation’s management has reviewed and ~~other~~approved ~~metrics~~these critical accounting policies and has discussed these policies with its Audit Committee. The Corporation believes the critical accounting policies used in the ~~modeling~~preparation of its financial statements that require significant estimates ~~software.~~and judgments are as follows:

~~Securities~~Allowance for Credit Losses (ACL) – Loans

~~The~~Financial ~~Corporation’s~~Accounting ~~investment~~Standards ~~securities~~Board ~~portfolio~~(“FASB”) ~~provides~~Accounting aStandards ~~source~~Codification of(“ASC”) ~~liquidity~~326, ~~needed~~Financial toInstruments ~~meet expected loan demand and interest income~~– toCredit ~~increase~~Losses, ~~profitability.~~provides ~~Additionally,~~guidance on the ~~investment~~accounting ~~securities~~for ~~portfolio~~credit islosses ~~used~~for tomost ~~meet~~financial ~~pledging~~assets ~~requirements~~and tocertain ~~secure~~other ~~public~~instruments ~~deposits,~~that ~~customer~~are ~~repurchase~~not ~~agreements~~measured ~~and~~at ~~for~~fair ~~other~~value ~~purposes.~~through ~~Debt~~net ~~securities~~income. ~~are~~ASC ~~classified as~~326 ~~either~~requires ~~available-for-sale~~consideration orof ~~held-to-maturity at~~a ~~the~~broad ~~time~~range of ~~purchase~~reasonable ~~based~~and onsupportable ~~management’s~~information to ~~intent.~~form ~~Available-for-sale~~credit ~~securities~~loss ~~are~~estimates ~~carried~~in atan ~~fair~~effort ~~value,~~to ~~with~~provide ~~unrealized~~financial ~~holding gains~~statement ~~and~~users ~~losses~~with ~~reported~~more asdecision-useful ainformation ~~component~~about ofthe ~~stockholders’~~expected credit ~~equity~~losses inon ~~accumulated~~financial ~~other~~instruments ~~comprehensive~~and ~~income~~other ~~(loss),~~commitments ~~net of tax, while held-~~to~~-maturity securities~~ ~~are~~extend ~~carried~~credit. atCommonly ~~amortized~~referred ~~cost. At~~to ~~December~~as ~~31,~~Current ~~2024~~Expected ~~and~~Credit ~~December 31~~Losses (“CECL”), ~~2023,~~ASC ~~all~~326 ~~debt~~requires ~~securities~~a ~~were~~financial ~~classified~~asset as(or ~~available-for-sale. Equity~~a ~~securities~~group ~~with~~of ~~readily~~financial ~~determinable~~assets) ~~fair~~to ~~values~~be ~~are~~measured ~~carried~~ at ~~fair~~an ~~value,~~amortized ~~with~~cost ~~gains~~basis and presented ~~losses~~at ~~due~~the tonet ~~fluctuations~~amount inexpected ~~market value~~to ~~included~~be incollected. ~~the~~ASC ~~Consolidated~~326 ~~Statements~~affects offinancial ~~Income.~~assets ~~Securities~~and ~~with~~net ~~limited~~investment ~~marketability~~in ~~and/or~~leases ~~restrictions,~~that ~~such~~are not accounted for asat ~~FHLB~~fair ofvalue ~~Pittsburgh stock,~~through ~~are~~net ~~carried~~income, atincluding ~~cost. Decisions~~such tofinancial ~~purchase~~assets oras ~~sell~~loans, ~~investment~~debt securities, ~~are~~trade ~~based~~receivables, ~~upon~~net ~~management’s~~investments ~~current assessment~~in ofleases, ~~long~~off-balance ~~and~~sheet ~~short-term~~credit ~~economic~~exposures, reinsurance receivables, and any other financial ~~conditions,~~assets not ~~including~~excluded from the ~~interest~~scope ~~rate~~that have ~~environment~~the ~~and~~contractual ~~asset/liability~~right ~~management,~~to ~~liquidity and~~receive ~~tax-planning strategies~~cash.

AtManagement ~~December~~evaluates ~~31,~~the ~~2024,~~credit quality of the ~~investment~~Corporation’s loan portfolio ~~was~~on ~~comprised~~an ~~principally~~ongoing ofbasis ~~available-for-sale~~and ~~debt~~performs ~~securities~~a ~~including,~~formal ~~fixed-rate,~~review ~~taxable and~~of ~~tax-exempt~~the ~~obligations~~ adequacy of ~~state~~the ~~and~~ACL ~~political~~on ~~subdivisions and~~a ~~fixed-rate~~quarterly ~~and~~basis. ~~floating-rate securities~~The ~~issued~~ACL byis ~~U.S.~~established ~~government or~~through ~~U.S.~~a ~~government-sponsored~~provision ~~agencies,~~for ~~which~~credit ~~include~~losses ~~agencies,~~charged ~~mortgage-backed~~to ~~securities~~earnings and ~~collateralized~~is ~~mortgage~~maintained ~~obligations, or~~at ~~CMOs.~~a ~~Additionally,~~level ~~the~~that ~~Corporation~~management ~~holds~~considers ~~equity~~to ~~investments~~be inan estimate of the ~~stock~~lifetime ofexpected ~~certain~~credit ~~publicly~~losses ~~traded~~of ~~bank~~the ~~holding~~portfolio ~~companies.~~as ~~Except~~of ~~for U~~the evaluation date.S. Loans, ~~government~~or ~~and~~portions ~~government-sponsored~~of ~~agencies~~loans, ~~there~~determined ~~were~~by nomanagement ~~securities~~to ofbe ~~any~~uncollectible ~~individual~~are ~~issuer~~charged ~~that~~off ~~exceeded~~against ~~10.0%~~the ACL, while recoveries of ~~stockholders’~~amounts ~~equity~~previously ascharged ofoff ~~December~~are ~~31,~~credited ~~2024~~to the ACL.

~~The~~Determining ~~majority of~~ the ~~Corporation’s debt~~amount ~~securities~~of ~~are~~the ~~fixed-rate~~ACL ~~instruments~~is ~~and inherently~~considered ~~subject~~a tocritical ~~interest~~accounting ~~rate risk,~~estimate asbecause ~~the~~it ~~value~~requires ofsignificant ~~fixed-rate~~judgment ~~securities~~and ~~fluctuates~~the ~~with~~use ~~changes~~of inestimates ~~interest rates. Generally, a security’s value reacts inversely~~related ~~with~~to ~~changes~~the inamount ~~interest~~and ~~rates.~~timing ~~Available-for-sale~~of ~~securities~~expected ~~are~~future ~~carried~~cash ~~at fair value~~flows, ~~with~~estimated ~~unrealized gains or~~ losses ~~reported~~on inpools ~~the accumulated other comprehensive income or loss component~~ of ~~stockholder’s~~homogeneous ~~equity,~~loans ~~net~~based ofon ~~deferred~~historical ~~income~~loss ~~taxes. At December 31,~~experience ~~2024,~~and ~~the~~reasonable ~~Corporation~~and ~~reported~~supportable aforecasts, ~~net~~as ~~unrealized~~well ~~loss,~~as consideration ~~included~~of incurrent ~~accumulated~~economic ~~other~~trends ~~comprehensive~~and ~~loss~~conditions, all of ~~$13.9 million,~~which ~~net~~may ofbe ~~deferred~~susceptible ~~income~~to ~~taxes~~significant ~~of $3~~change.~~7 million,~~ aBanking ~~decrease~~regulators, ofas ~~$1.1 million~~an ~~compared~~integral topart ~~the~~of ~~net~~their ~~unrealized~~examination ~~holding loss~~ of ~~$15.0~~the ~~million~~Corporation, ~~net~~ ofalso ~~deferred~~review ~~income~~the ~~taxes of $4.0 million~~ACL, and atmay ~~December 31~~require, ~~2023. Any~~based ~~future~~on ~~changes~~information inavailable ~~interest~~to ~~rates~~them ~~could~~at ~~result in changes in~~ the ~~fair~~time ~~value~~ of ~~the~~their ~~Corporation’s securities~~examination, ~~portfolio~~that ~~and~~certain ~~capital~~loan ~~position.~~balances ~~However,~~be ~~accumulated~~charged ~~other~~off ~~comprehensive~~or require ~~income~~that ~~and~~adjustments ~~loss~~be ~~related~~made to ~~available-for-sale~~the ~~debt securities~~ACL. isAdditionally, ~~excluded~~the ~~from~~ACL ~~regulatory~~is ~~capital~~determined, ~~and~~in ~~does~~part, ~~not~~by ~~have~~the ancomposition ~~impact~~and onsize of the ~~Corporation’s~~loan ~~regulatory capital ratios~~portfolio.

23The ACL consists of two components, a specific component and a general component. The specific component relates to loans that are individually analyzed for impairment. For such loans, an allowance is established when the discounted cash flows, collateral value or observable market price of the loan is lower than the carrying value of that loan. The general component covers all other loans and is based on historical loss experience as adjusted for qualitative factors. The general reserve component of the ACL is based on pools of performing loans segregated by loan segment. Historical loss factors are applied based on historical losses in each risk rating category to determine the appropriate reserve related to those loans.

~~The following~~Although ~~table~~the ~~presents~~Corporation’s management uses the ~~carrying~~best ~~value~~information of available, the level of the ACL remains an estimate which is subject to significant judgment and short-~~for-sale~~term ~~debt~~change ~~securities,~~which atcould ~~fair~~have ~~value~~a atsignificant impact on the Corporation’s financial condition or results of operations. From January 1, 2025 to December 31, ~~2024~~2025, the level of the ACL increased from $9.9 million to $10.0 million and ~~December~~the ACL to total loans decreased 31from 0.88% to 0.85%. The Corporation’s ACL is highly sensitive to the methods, ~~2023:~~assumptions and estimates underlying its calculation. See Note 4 “Loans and Allowance for Credit Losses” within the Corporation’s Notes to the Consolidated Financial Statements which are included in Part II of this Annual Report on Form 10-K for additional qualitative and quantitative information about the Corporation’s ACL.

	December 31, 2024				December 31, 2023
(In Thousands)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
AVAILABLE-FOR-SALE DEBT SECURITIES:
Obligation of U.S.Government Corporations and Agencies:
Mortgage-backed	$	128,631	$	113,707	$	145,196	$	131,340
Collateralized mortgage obligations		6,752		7,046		8,515		9,018
Other		123,500		119,454		197,325		187,712
Obligations of state and political subdivisions		81,680		82,762		81,033		84,956
Other debt securites		274		279		267		276
Total available-for-sale debt securities	$	340,837	$	323,248	$	432,336	$	413,302
Aggregate Unrealized Loss			$	(17,589)			$	(19,034)
Aggregate Unrealized Loss as a % of Amortized Cost				(5.2%)				(4.4%)

Fair Value of Available-For-Sale Debt Securities

~~The~~Another ~~following~~material ~~table~~estimate ~~presents~~is the ~~weighted-average~~calculation ~~yields~~of ~~on available-for-sale~~fair values of the Corporation’s debt securities. byFor ~~major~~the ~~category~~Corporation’s ~~and~~debt ~~maturity period~~securities, atthe ~~December~~Corporation ~~31,~~receives ~~2024.~~estimated ~~Yields~~fair ~~are~~values ~~calculated~~from onan ~~the~~independent ~~basis~~valuation ofservice, ~~the~~or ~~amortized~~from ~~cost~~brokers. ~~and~~In ~~weighted~~developing ~~for~~fair values, the valuation ~~scheduled~~service ~~maturity~~and ofthe ~~each~~brokers ~~security. Because~~compare ~~mortgage-backed~~ securities ~~and~~that ~~collateralized~~have ~~mortgage~~similar ~~obligations~~maturities, ~~are~~coupon ~~not~~rates, ~~due~~and atcredit aratings. ~~single~~Estimated ~~maturity~~fair ~~date,~~values of ~~they~~debt ~~are~~securities ~~not~~may ~~included in~~vary ~~the~~among ~~maturity~~brokers ~~categories~~and inother ~~the~~valuation ~~following summary~~services.

(Dollars In Thousands)	Within One Year		Yield		One- Five Years		Yield		Five- Ten Years		Yield		After Ten Years		Yield		Total		Yield
AVAILABLE-FOR-SALE DEBT SECURITIES:
Obligation of U.S.Government Corporations and Agencies:
Other	$	57,000		0.77%	$	66,500		1.18%	$	—		—	$	—		—	$	123,500		0.99%
Obligations of state and political subdivisions		1,321		3.77%		6,176		3.92%		27,805		4.13%		46,378		4.65%		81,680		4.40%
Other debt securities		98		5.24%		89		5.78%		87		5.00%		—		—		274		5.34%
Sub-total	$	58,419		1.00%	$	72,765		1.53%	$	27,892		4.43%	$	46,378		4.65%	$	205,454		2.48%
Mortgage-backed securities																		128,631		2.11%
Collateralized mortgage obligations																		6,752		5.12%
Total																	$	340,837		2.32%

~~Marketable~~Goodwill ~~Equity~~and ~~Securities~~Other Intangible Assets

AtGoodwill arises ~~December~~from ~~31,~~business ~~2024~~combinations and ~~December 31,~~is ~~2023,~~determined as the ~~Corporation~~excess ~~held~~of ~~$1.4~~the fair value of the consideration transferred over the fair value of the net assets acquired and $1liabilities assumed as of the acquisition date.3 ~~million,~~Goodwill ~~respectively,~~is innot ~~equity~~amortized ~~securities~~but ~~recorded~~is atperiodically ~~fair~~evaluated for ~~value~~impairment. ~~The~~Impairment ~~following~~testing is performed using either a ~~summary~~qualitative or quantitative approach. The Corporation has selected September of30 ~~unrealized~~as ~~and~~the ~~realized~~date ~~gains~~to ~~and~~perform ~~losses~~the ~~recognized~~annual ingoodwill ~~net~~impairment ~~income~~test. Additionally, a goodwill impairment evaluation is performed on ~~equity~~an ~~securities~~interim basis ~~during~~when events or circumstances indicate impairment potentially exists. Based on the ~~years~~annual ~~ended~~goodwill ~~December~~impairment 31tests completed September 30, ~~2024~~2025 and ~~2023:~~ 2024, no impairment was noted. No assurance can be given that future impairment tests will not result in a charge to earnings.

	For the Years Ended December 31,
(In Thousands)	2024		2023
Net gains (losses) recognized during the period on marketable equity securities	$	60	$	(119)
Less: Net gains (losses) recognized during the period on marketable equity securities sold during the period		—		—
Unrealized gains (losses) recognized during the period on marketable equity securities still held at the reporting date	$	60	$	(119)

The Corporation’s other intangible assets consist primarily of core deposit intangibles. The calculation of core deposit intangibles are based on significant judgements. Core deposit intangibles are calculated using a discounted cash flow model based on various factors including discount rate, attrition rate, interest rate, cost of alternative funds and net maintenance costs. Core deposit intangibles are amortized over the expected life of each acquired core deposit type, discounted at a long-term market oriented after-tax rate of return. Core deposit intangibles are reviewed for impairment when indicators of impairment are present. Indicators of impairment may include significant runoff or attrition. Management is not aware of any indicators of impairment related to core deposit intangibles as of December 31, 2025 or 2024.

~~See~~FINANCIAL Note 4 within the Corporation’s Notes to the Consolidated Financial Statements which are included in this Annual Report on Form 10-K for more information regarding Corporation’s investment portfolio as of December 31, 2024.CONDITION

24Total assets at December 31, 2025 amounted to $1.673 billion, an increase of $77.2 million, or 4.8% from $1.596 billion at December 31, 2024. The change in total assets primarily reflected increases in cash and cash equivalents, available-for-sale debt securities, and loans receivable, partially offset by a decrease in deferred tax assets, net. Cash and cash equivalents increased $31.2 million, available-for-sale debt securities increased $4.0 million and loans receivable, not held for sale, increased by $51.6 million. Deferred tax assets, net, decreased $4.0 million. Total liabilities at December 31, 2025, were $1.481 billion, an increase of $51.1 million, or 3.6% from $1.430 billion at December 31, 2024. Deposit balances increased by $120.3 million, short-term borrowings decreased $55.9 million and long-term borrowings decreased $15.0 million since December 31, 2024.

~~Loans~~Total average assets increased 2.0% from $1.593 billion for the year ended December 31, 2024, to $1.625 billion for the year ended December 31, 2025. Average earning assets were $1.517 billion for the year ended December 31, 2025 and $1.491 billion for the year ended December 31, 2024. Average interest-bearing liabilities were $1.159 billion for each of the years ended December 31, 2025 and 2024.

~~Gross~~Cash ~~loans~~and ~~receivable~~cash equivalents increased 5$31.42 million or 179.3% from $117.~~068~~4 ~~billion~~million at December 31, ~~2023~~2024 to $148.~~126~~5 ~~billion~~million at December 31, ~~2024~~2025. ~~The~~This ~~percentage~~increase ~~distribution~~is inprimarily ~~the~~related to ~~loan~~increased ~~portfolio is~~correspondent ~~shown~~bank inbalances resulting from cash flows from available-for-sale debt securities as well as strong deposit growth during the ~~tables~~year ~~below:~~ended December 31, 2025.

	December 31, 2024				December 31, 2023
(In Thousands)	Amount		%		Amount		%
Commercial and industrial	$	93,445		8.3%	$	94,278		8.8%
Commercial real estate:
Commercial mortgages		325,882		28.9%		326,152		30.5%
Student housing		45,808		4.1%		33,650		3.1%
Residential real estate		638,952		56.7%		589,284		55.2%
Consumer and other		21,850		1.9%		25,065		2.3%
Gross loans	$	1,125,937		100.0%	$	1,068,429		100.0%

Available-for-sale debt securities increased $4.0 million to $327.2 million at December 31, 2025 from $323.2 million at December 31, 2024. The Corporation received proceeds from sales, paydowns, calls and maturities of available-for-sale debt securities of $94.0 million during the year ended December 31, 2025. Offsetting this activity were purchases of $84.6 million and an increase in fair value of available-for-sale debt securities of $12.5 million for year ended December 31, 2025.

~~Loan~~Gross ~~concentrations~~loans ~~are~~not ~~considered to~~held ~~exist~~for ~~when there are amounts loaned to a number of borrowers engaged in similar activities that would cause them to be similarly impacted~~sale byincreased ~~economic or other conditions~~4.6% ~~Our lending activity is heavily concentrated in the geographic market areas we serve. This geographic concentration subjects our loan portfolio~~ to ~~the general economic conditions within the state~~$1.178 ~~The~~billion ~~risks~~at ~~created~~December by31, ~~this~~2025 ~~concentration have~~from ~~been considered by management and are monitored on an ongoing basis~~$1.126 Asbillion ofat December 31, 2024 ~~and December 31, 2023, there were no concentrations of loans exceeding 10% of total loans other than the categories of loans disclosed in the table above~~. WeThis ~~believe~~increase ~~our loan portfolio~~ is ~~diversified~~related ~~relative~~ to ~~industry~~strong ~~concentrations~~loan demand ~~across~~during the ~~various~~year ~~loan~~ended ~~portfolio~~December ~~categories~~31, 2025.

~~Banking~~Deferred ~~regulators~~tax ~~have~~assets, ~~established guidelines~~net, ~~of less than 100% of tier 1 capital plus allowance for credit losses in construction lending and less than 300% of tier 1 capital~~decreased ~~plus~~$4.0 ~~allowance~~million ~~for~~to ~~credit~~$6.0 ~~losses~~million inat ~~commercial~~December ~~real~~31, ~~estate~~2025 ~~lending~~from ~~that~~$10.0 ~~management~~million ~~monitors~~at asDecember ~~part~~31, ~~of the risk management process~~2024. ~~The construction~~This ~~concentration~~decrease ~~ratio~~ is aprimarily ~~percentage~~related ofto ~~the~~decreases in ~~outstanding~~deferred ~~construction~~tax ~~and~~assets ~~land~~related ~~development loans~~ to ~~total~~unrealized ~~tier 1 capital plus allowance for credit~~ losses. ~~The~~on ~~commercial real estate concentration ratio is a percentage of the outstanding balance of non~~available-~~owner~~for-sale ~~occupied commercial~~debt ~~real~~securities ~~estate, multifamily,~~ and ~~construction~~purchase ~~and~~accounting ~~land~~adjustments ~~development loans to tier 1 capital plus allowance~~ for ~~credit~~the year ~~losses.~~ended At December 31, ~~2024, the Bank’s exposure to commercial real estate was well below these guidelines~~2025.

AsInterest-bearing ofdeposits increased $103.0 million to $1.136 billion at December 31, ~~2024~~2025 from $1.033 billion at December 31, ~~commercial real~~2024. ~~estate~~Noninterest-bearing ~~loans~~deposits ~~totaled~~increased 6.7% from $~~371~~259.7 million orat 33December 31, 2024 to $277.0% ofmillion ~~total~~at ~~gross~~December ~~loans~~31, 2025. OfThe ~~this~~increase ~~amount~~in ~~commercial~~interest-bearing ~~mortgage~~deposits ~~loans~~during the ~~represented~~year ~~$325.9~~ended ~~million or~~December ~~28.9%~~31, of2025 ~~total~~was ~~gross~~a ~~loans~~result ~~and~~of ~~student~~strong ~~housing~~organic ~~loans~~deposit ~~represented~~growth ~~$45.8~~in ~~million~~combination orwith ~~4.1%~~the continued execution of ~~total~~a ~~gross~~strategic initiative ~~loans~~to reposition customer repurchase agreements, which are classified as short-term borrowings, into core deposit accounts. The ~~following~~Bank ~~table~~anticipates ~~presents~~ the ~~distribution~~completion of ~~commercial~~this ~~mortgage~~project ~~loans~~in ~~and~~2026 ~~related~~which ~~percentage~~will ofassist in optimizing the ~~total~~Bank’s ~~loan~~long-term ~~portfolio~~liquidity asneeds and balance sheet management strategies. The increase in noninterest-bearing deposits was a result of ~~December 31,~~continued ~~2024~~growth in overall deposit levels and changes in product mix for the year ended December 31, ~~2023:~~2025.

	December 31, 2024				December 31, 2023
(In Thousands)	Amount		%		Amount		%
Commercial mortgages:
Commercial construction	$	24,664		2.2%	$	22,530		2.1%
Multifamily		74,463		6.6%		70,750		6.6%
Owner occupied nonfarm nonresidential		101,697		9.0%		100,095		9.4%
Non-owner occupied nonfarm nonresidential		83,882		7.4%		95,403		8.9%
Other commercial		41,176		3.7%		37,374		3.5%
Total commercial mortgages	$	325,882		28.9%	$	326,152		30.5%

Short-term borrowings decreased $55.9 million to $12.5 million at December 31, 2025 from $68.4 million at December 31, 2024. This change was primarily related to the migration of customer repurchase agreements as discussed above as well as a paydown in short-term FHLB borrowings during the year ended December 31, 2025.

~~The following table presents~~23 ~~the maturity distribution and interest rate information of the loan portfolio by major category as of December 31, 2024:~~

	As of December 31, 2024
	Fixed-Rate Loans										Variable- or Adjustable-Rate Loans										All Loans
	1 Year		1-5		5-15		>15				1 Year		1-5		5-15		>15
(In Thousands)	or Less		Years		Years		Years		Total		or Less		Years		Years		Years		Total		Total
Commercial and industrial	$	4,969	$	18,161	$	15,478	$	132	$	38,740	$	5,473	$	3,730	$	22,627	$	22,875	$	54,705	$	93,445
Commercial real estate:
Commercial mortgages		3,271		3,079		16,343		1,187		23,880		6,760		8,438		73,142		213,662		302,002		325,882
Student housing		1,292		-		2,069		-		3,361		-		4,742		16,207		21,498		42,447		45,808
Residential real estate		4,972		7,936		62,455		43,273		118,636		5,250		4,243		51,536		459,287		520,316		638,952
Consumer and other		865		6,480		2,473		1,282		11,100		117		272		3,383		6,978		10,750		21,850
Total	$	15,369	$	35,656	$	98,818	$	45,874	$	195,717	$	17,600	$	21,425	$	166,895	$	724,300	$	930,220	$	1,125,937

Long-term borrowings were $55.5 million at December 31, 2024 compared to $40.6 million at December 31, 2025. This decrease is primarily related to $15.2 million in long-term borrowing maturities during the year ended December 31, 2025.

~~See~~Total ~~Note~~stockholder’s equity increased by $26.1 million, or 15.7%, from $166.4 million at December 31, 2024, to $192.5 ~~within~~million ~~the~~at ~~Corporation’s~~December 31, 2025. The increase is ~~Notes~~primarily attributable to ~~the~~earnings, ~~Consolidated~~net ~~Financial~~of ~~Statements~~cash ~~which~~dividends, ~~are~~along ~~included~~with a decrease in ~~this~~accumulated ~~Annual~~other ~~Report~~comprehensive onloss ~~Form~~due ~~10-K~~to changes in the fair values of available-for-sale ~~more~~debt ~~information~~securities. ~~regarding~~Accumulated ~~the~~other comprehensive loss amounted to $4.0 million as of December ~~Corporation’s~~31, ~~loan~~2025 ~~portfolio~~and $13.9 million as of December 31, 2024.

25The loan-to-deposit ratio is a key measurement of liquidity. Our loan-to-deposit ratio decreased from 86.4% as of December 31, 2024 to 82.6% as of December 31, 2025 due to the asset/liability mix changes noted above, and remains within internal policy limits.

It is our opinion that the asset/liability mix and the interest rate risk associated with the balance sheet are within manageable parameters. Constant monitoring using asset/liability reports and interest rate risk scenarios are in place along with quarterly asset/liability management meetings on the committee level by the Bank’s Board of Directors. Additionally, the Bank’s Asset/Liability ~~Quality~~Committee meets quarterly with an investment consultant and works with independent third parties regularly to review key assumptions and other metrics used in the modeling software.

Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are stated at the amount of unpaid principal, net of deferred loan fees and costs, and reduced by the allowance for credit losses. The allowance for credit losses is established through a provision for credit losses charged to earnings.Securities

The Corporation’s ~~has~~investment securities ~~established~~portfolio ~~and~~provides ~~consistently~~a ~~applies~~source of liquidity needed to meet expected loan ~~policies~~demand and ~~procedures~~interest ~~designed~~income to ~~foster~~increase ~~sound~~profitability. Additionally, ~~underwriting~~the ~~and~~investment ~~credit~~securities ~~monitoring practices.~~portfolio ~~Credit~~is ~~risk~~used isto ~~managed~~meet ~~through~~pledging ~~the~~requirements ~~efforts~~to ofsecure ~~loan~~public ~~officers~~deposits, ~~the~~customer ~~Chief~~repurchase agreements ~~Credit~~and ~~Officer,~~for ~~the~~other ~~loan~~purposes. ~~review~~Debt ~~function,~~securities are classified as ~~well~~either ~~as oversight~~available-for-sale ~~from~~or held-to-maturity at the ~~Board~~time of purchase ~~Directors~~based on management's intent. ~~Management~~Available-for-sale ~~continually~~securities ~~evaluates~~are ~~its~~carried ~~credit~~at ~~risk~~fair ~~management~~value, ~~practices~~with tounrealized ~~ensure problems~~holding ingains and losses ~~the~~reported ~~loan~~as ~~portfolio~~a ~~are~~component ~~addressed~~of stockholders’ equity in aaccumulated ~~timely~~other ~~manner~~comprehensive income (loss), ~~although~~net of tax, aswhile held-to-maturity securities isare ~~the~~carried ~~case~~at ~~with~~amortized ~~any~~cost. At ~~financial~~December ~~institution~~31, a2025 ~~certain~~and ~~degree~~December of31, ~~credit~~2024, all debt securities were classified as available-for-sale. ~~risk~~Equity issecurities ~~dependent~~with inreadily ~~part~~determinable onfair ~~local~~values are carried at fair value, with gains and ~~general~~losses ~~economic~~due ~~conditions~~to ~~that~~fluctuations ~~are~~in ~~beyond~~market value ~~management’s~~included ~~control~~in the Consolidated Statements of Income. ~~Under~~Securities ~~the~~with ~~Corporation’s risk~~limited ~~rating~~marketability ~~system~~and/or restrictions, ~~loans~~such ~~are~~as ~~rated~~FHLB ~~pass~~of Pittsburgh stock, ~~special~~are ~~mention,~~carried ~~substandard,~~at ~~doubtful,~~cost. Decisions to purchase or ~~loss,~~sell ~~with~~investment ~~all~~securities ~~categories~~are ~~reviewed~~based ~~regularly~~upon asmanagement’s ~~part~~current assessment of long- and short-term economic and financial conditions, including the ~~risk~~interest rate environment and asset/liability management, ~~practices~~liquidity and tax-planning strategies.

~~Non-performing~~At December 31, 2025, the investment ~~loans~~portfolio ~~are~~was ~~monitored~~comprised onprincipally anof ~~ongoing~~available-for-sale ~~basis~~debt assecurities ~~part~~including, fixed-rate, taxable and tax-exempt obligations of state ~~the~~and ~~Corporation’s~~political ~~loan~~subdivisions and ~~review~~fixed-rate ~~process~~and floating-rate securities issued by U.S. ~~Additionally,~~government ~~work-outs~~or ~~for~~U.S. ~~non~~government-~~performing~~sponsored ~~loans~~agencies, which include agencies, mortgage-backed securities and ~~foreclosed~~collateralized ~~assets~~mortgage ~~held~~obligations, ~~for~~or ~~sale~~CMOs. ~~are~~Additionally, ~~actively~~the ~~monitored~~Corporation holds ~~through~~equity investments in the ~~Bank’s~~stock ~~Credit~~of ~~Department~~certain publicly traded bank holding companies. AExcept ~~potential~~for ~~loss~~U.S. ongovernment aand ~~non~~government-~~performing~~sponsored ~~asset~~agencies, isthere ~~generally~~were ~~determined~~no bysecurities ~~comparing~~of ~~the~~any ~~outstanding~~individual ~~loan~~issuer ~~balance~~that toexceeded ~~the~~10.0% ~~fair~~of ~~market~~stockholders’ ~~value~~equity as of ~~the~~December ~~pledged collateral~~31, ~~less estimated cost to sell~~2025.

~~Management~~The majority ~~actively~~of the ~~manages~~Corporation's debt ~~non-performing~~securities ~~loans~~are infixed-rate aninstruments ~~effort~~and inherently subject to ~~mitigate~~interest ~~loss~~rate torisk, as the ~~Corporation~~value of byfixed-rate ~~working~~securities fluctuates with ~~customers~~changes toin ~~develop~~interest ~~strategies~~rates. Generally, a security's value reacts inversely with changes in interest torates. ~~resolve~~Available-for-sale ~~borrower~~securities ~~difficulties~~are carried at fair value, ~~through~~with ~~sale~~unrealized gains or ~~liquidation~~losses reported in the accumulated other comprehensive income or loss component of ~~collateral~~stockholder's equity, ~~foreclosure~~net ~~and~~of deferred income taxes. At December 31, 2025, the Corporation reported a net unrealized loss, included in accumulated other ~~appropriate~~comprehensive ~~means~~loss, of $4.0 million, Innet ~~addition~~of deferred income taxes of $1.1 million, ~~management~~a decrease ~~monitors~~of ~~employment~~$9.9 million ~~and~~compared ~~economic~~to ~~conditions~~the ~~within~~net ~~its~~unrealized ~~market~~holding ~~area~~loss of $13.9 million, asnet ~~weakening~~of deferred income taxes of ~~conditions~~$3.7 million, at December 31, 2024. Any future changes in interest rates could result in ~~real~~changes ~~estate~~in ~~devaluations~~the fair value of the Corporation’s securities portfolio and ancapital ~~increase~~position. inHowever, ~~loan~~accumulated ~~delinquencies,~~other ~~which~~comprehensive ~~could~~income ~~negatively~~and ~~impact~~loss ~~asset~~related ~~quality~~to available-for-sale debt securities is excluded from regulatory capital and ~~cause~~does not have an ~~increase~~impact inon the ~~provision~~Corporation's ~~for~~regulatory ~~credit~~capital ~~losses~~ratios.

The ~~following~~ following table presents ~~information~~the ~~about~~carrying ~~non~~value of available-~~performing~~for-sale ~~assets~~debt securities, asat offair value at December 31, ~~2024~~2025 and December 31, ~~2023~~2024:

~~Non-performing Assets~~ 24

	December 31,		December 31,
	December 31, 2025						December 31, 2024
(dollars in thousands)	2024		2023
	Amortized			Fair			Amortized		Fair
Non-accrual loans	$	10,047	$	4,012
(In Thousands)	Cost			Value			Cost		Value
Loans past due 90 days or more and still accruing		-		294
AVAILABLE-FOR-SALE DEBT SECURITIES:
Total non-performing loans		10,047		4,306
Obligation of U.S. Government Corporations and Agencies:
Foreclosed assets held for sale		70		170
Mortgage-backed	$	190,299		$	182,347		$	128,631	$	113,707
Total non-performing assets	$	10,117	$	4,476
Collateralized mortgage obligations		5,758			6,217			6,752		7,046
Non-performing loans as a percentage of total loans, gross		0.89%		0.40%
Other		54,500			53,603			123,500		119,454
Non-performing assets as a percentage of total assets		0.63%		0.27%
Obligations of state and political subdivisions		81,625			84,890			81,680		82,762
Allowance for credit losses as a percentage of total loans, gross		0.88%		0.87%
Other debt securities		180			188			274		279
Allowance for credit losses to non-performing assets		97.44%		207.82%
Total available-for-sale debt securities	$	332,362		$	327,245		$	340,837	$	323,248
Aggregate Unrealized Loss				$	(5,117	)			$	(17,589	)
Aggregate Unrealized Loss as a % of Amortized Cost					(1.5%	)				(5.2%	)

~~Total~~The ~~non-performing assets~~following ~~amounted~~table topresents ~~$10,117,000,~~the orweighted-average ~~0.63%~~yields ofon available-for-sale ~~total~~debt ~~assets~~securities atby ~~December~~major ~~31,~~category ~~2024,~~and asmaturity ~~compared~~period toat $4December 31,~~476,000,~~ ~~or 0~~2025.~~27%~~ ofYields ~~total~~are ~~assets~~calculated aton ~~December 31,~~the ~~2023.~~basis ~~For~~of the ~~year~~amortized ~~ended~~cost ~~December~~and ~~31,~~weighted ~~2024,~~for the ~~Corporation~~scheduled ~~experienced~~maturity ~~increases~~of ineach ~~non-accrual~~security. ~~loans~~Because inmortgage-backed securities ~~all~~and ~~major~~collateralized ~~loan~~mortgage ~~classifications, however,~~obligations ~~the~~are ~~most~~not ~~significant~~due ~~increases~~at ~~were~~a insingle ~~commercial~~maturity ~~real~~date, ~~estate~~they ~~and~~are ~~residential~~not ~~real~~included ~~estate~~in ~~loans~~the ~~which~~maturity ~~increased~~categories in ~~$1,415,000~~the ~~and $3,785,000,~~following ~~respectively~~summary.

Increases in residential real estate non-accrual loans were generally applicable to a homogenous population of well secured loans collateralized by 1-4 family residential properties. With respect to commercial real estate non-accrual loans, the Corporation has experienced a limited number of large commercial relationships that have required significant monitoring and workout efforts. As a result, these relationships may significantly impact the total amount of allowance required on individual loans and may significantly impact the provision for credit losses and the amount of total charge-offs reported in any one period.

	Within				One-				Five-				After
	One				Five				Ten				Ten
(Dollars In Thousands)	Year		Yield		Years		Yield		Years		Yield		Years		Yield		Total		Yield
AVAILABLE-FOR-SALE DEBT SECURITIES:
Obligation of U.S. Government Corporations and Agencies:
Other	$	54,500		1.09%	$	—		—	$	—		—	$	—		—	$	54,500		1.09%
Obligations of state and political subdivisions		1,641		4.16%		8,871		4.05%		29,662		4.36%		41,451		4.56%		81,625		4.42%
Other debt securities		—		—		180		5.39%		—		—		—		—		180		5.39%
Sub-total	$	56,141		1.18%	$	9,051		5.96%	$	29,662		4.36%	$	41,451		4.56%	$	136,305		3.22%

Mortgage-backed securities																		190,299		3.14%
Collateralized mortgage obligations																		5,758		5.24%
Total																	$	332,362		3.16%

~~Management~~Marketable ~~believes~~Equity it has been conservative in its decisions concerning identification of loans requiring individual evaluation for credit loss, estimates of loss, and nonaccrual status; however, the actual losses realized from these relationships could vary materially from the allowances calculated as of December 31, 2024. Management continues to closely monitor its loan relationships for credit losses and will adjust its estimates of loss and decisions concerning nonaccrual status, if appropriate.Securities

26At December 31, 2025, and December 31, 2024, the Corporation held $1.4 million in equity securities recorded at fair value. The following is a summary of unrealized and realized gains and losses recognized in net income on equity securities during the years ended December 31, 2025 and 2024:

Allowance for Credit Losses

	For the Years Ended
	December 31,
(In Thousands)	2025		2024
Net gains recognized during the period on marketable equity securities	$	56	$	60

Less: Net gains recognized during the period on marketable equity securities sold during the period		—		—

Unrealized gains recognized during the period on marketable equity securities still held at the reporting date	$	56	$	60

~~The~~See ~~allowance~~Note ~~for credit losses was $9.9 million at December 31, 2024, compared to $9.~~3 ~~million~~within atthe ~~December 31, 2023. The allowance equaled 0.88% of total~~Corporation’s ~~loans,~~Notes ~~net~~to ofthe ~~unearned~~Consolidated ~~fees~~Financial ~~and~~Statements ~~costs~~which ~~and~~are ~~unamortized~~included ~~fair~~in ~~value~~this ~~adjustments,~~Annual atReport ~~December~~on ~~31,~~Form ~~2024~~10-K ~~as compared to 0.87% of total loans at December 31, 2023. The allowance~~ for ~~credit~~more ~~losses~~information isregarding ~~analyzed quarterly and reviewed by the~~ Corporation’s ~~Board of~~ ~~Directors.~~investment Noportfolio ~~concentration~~as ~~or apparent deterioration in classes~~ of ~~loans~~December ~~or pledged collateral was evident. Regular loan meetings with the Corporation’s Board of Directors reviewed new loans over specified thresholds. Delinquent loans~~31, ~~loan exceptions and certain large loans are addressed by the full Board no less than monthly to determine compliance with policies~~2025.

~~The following tables present~~25 ~~the allocation of the allowance for credit losses as of December 31, 2024 and December 31, 2023:~~

	December 31, 2024				December 31, 2023
(dollars in thousands)	Allowance for Credit Losses		Percent of Allowance	Percent of Loans to Gross Loans	Allowance for Credit Losses		Percent of Allowance	Percent of Loans to Gross Loans
Commercial and industrial	$	931	9.4%	8.3%	$	801	8.6%	8.8%
Commercial real estate	6,869		69.7%	33.0%	6,847		73.6%	33.7%
Residential real estate	1,850		18.8%	56.7%	1,474		15.8%	55.2%
Consumer and other	208		2.1%	1.9%	180		1.9%	2.3%
Total	$	9,858	100.0%	100.0%	$	9,302	100.0%	100.0%

Loans

~~See~~Gross ~~Note~~loans 1receivable ~~and 5 within the~~increased ~~Corporation’s~~4.6% ~~Notes~~from to$1.126 ~~the~~billion ~~Consolidated~~at ~~Financial~~December ~~Statements~~31, ~~which~~2024 ~~are~~to ~~included~~$1.178 inbillion ~~this~~at ~~Annual~~December ~~Report~~31, on2025. ~~Form~~The ~~10-K~~percentage ~~for~~distribution ~~more~~in ~~information regarding~~ the ~~Corporation’s~~loan ~~allowance~~portfolio is ~~for~~shown ~~credit~~in ~~losses~~the astables ~~of December 31, 2024.~~below:

Deposits

	December 31, 2025				December 31, 2024
(In Thousands)	Amount		%		Amount		%
Commercial and industrial	$	95,352		8.1%	$	93,445		8.3%
Commercial real estate:
Commercial mortgages		355,557		30.2%		325,882		28.9%
Student housing		48,043		4.1%		45,808		4.1%
Residential real estate		659,627		56.0%		638,952		56.7%
Consumer and other		19,002		1.6%		21,850		1.9%
Gross loans	$	1,177,581		100.0%	$	1,125,937		100.0%

~~Deposits~~Loan concentrations are ~~the~~considered to ~~primary~~exist ~~source of~~when ~~funds~~there ~~for~~are ~~the~~amounts ~~Corporation’s~~loaned ~~lending~~to ~~and~~a ~~investing~~number ~~activities.~~of ~~The~~borrowers ~~Corporation~~engaged ~~provides~~in asimilar ~~range~~activities ofthat ~~deposit~~would ~~services~~cause them to ~~businesses~~be similarly impacted ~~and~~by ~~individuals,~~economic ~~including~~or ~~noninterest-bearing~~other ~~checking~~conditions. ~~accounts,~~Our ~~interest-bearing~~lending ~~checking~~activity ~~accounts,~~is ~~savings~~heavily ~~accounts,~~concentrated ~~money~~in the geographic market ~~accounts and~~areas ~~time~~we ~~deposits~~serve. ~~These~~This ~~accounts~~geographic concentration ~~generally~~subjects ~~earn~~our ~~interest~~loan atportfolio ~~rates~~to the ~~Corporation~~general ~~establishes~~economic ~~based~~conditions onwithin ~~market factors and~~ the ~~anticipated amount~~state. ~~and~~The ~~timing~~risks ofcreated ~~funding~~by ~~needs.~~this ~~The~~concentration have ~~establishment~~been orconsidered ~~continuity~~by ofmanagement aand ~~core~~are ~~deposit~~monitored ~~relationship~~on ~~can~~an beongoing abasis. ~~factor~~As inof ~~loan~~December ~~pricing~~31, ~~decisions. While~~2025 ~~the~~and ~~Corporation’s~~December ~~primary~~31, ~~focus~~2024, isthere onwere ~~establishing~~no concentrations ~~customer~~of ~~relationships~~loans toexceeding ~~attract~~10% ~~core~~of ~~deposits,~~total atloans ~~times,~~other than the ~~Corporation may~~categories ~~use~~of ~~brokered~~loans ~~deposits~~disclosed ~~and~~in ~~other~~the ~~wholesale~~table ~~deposits~~above. toWe ~~supplement~~believe ~~its~~our ~~funding~~loan portfolio ~~sources.~~is Asdiversified ofrelative ~~December~~to ~~31,~~industry ~~2024,~~concentrations across the ~~Corporation~~various ~~held no~~loan ~~brokered~~portfolio ~~deposits~~categories.

~~The~~Banking ~~following~~regulators ~~tables~~have ~~summarize~~established guidelines of less than 100% of tier 1 capital plus allowance for credit losses in construction lending and less than 300% of tier 1 capital plus allowance for credit losses in commercial real estate lending that management monitors as part of the ~~average~~risk ~~balances~~management process. The construction concentration ratio is a percentage of the outstanding construction and ~~average~~land ~~interest~~development ~~rates~~loans to total tier 1 capital plus allowance for ~~each~~credit ~~major~~losses. ~~category~~The commercial real estate concentration ratio is a percentage of ~~deposits~~the ~~for~~outstanding ~~years~~balance ~~ended~~of ~~December~~non-owner 31occupied commercial real estate, ~~2024~~multifamily, and construction and land development loans to tier 1 capital plus allowance for credit losses. At ~~2023~~December 31, ~~respectively:~~2025, the Bank’s exposure to commercial real estate was well below these guidelines.

	For the Years Ended
	December 31, 2024				December 31, 2023
	Average		Average		Average		Average		Balance Change
(In Thousands)	Balance		Rate		Balance		Rate		Amount		%
Non-interest bearing	$	261,935	-	%	$	186,934	—	%	$	75,001	40.1	%
Savings	198,175		0.03		167,611		0.03		30,564		18.2
Interest-bearing demand deposits	324,602		2.02		165,347		0.31		159,255		96.3
Money market deposits	109,584		2.08		54,190		1.44		55,394		102.2
Time deposits	341,740		3.95		155,863		2.33		185,877		119.3
Total deposits	$	1,236,036	1.81	%	$	729,945	0.68	%	$	506,091	69.3	%

As of December 31, 2025, commercial real estate loans totaled $403.6 million or 34.3% of total gross loans. Of this amount commercial mortgage loans represented $355.6 million or 30.2% of total gross loans and student housing loans represented $48.0 million or 4.1% of total gross loans. The following table presents the distribution of commercial real estate loans and related percentage of the total loan portfolio as of December 31, 2025 and December 31, 2024:

The Corporation believes its deposit product offerings are properly structured to attract and retain core low-cost deposit relationships. The average cost of interest-bearing deposits for the years ended December 31, 2024, and 2023, was 2.30% and 0.91%, respectively. The increased cost was primarily attributable to the increases in rates and increased pricing competition.

	December 31, 2025				December 31, 2024
(In Thousands)	Amount		%		Amount		%
Commercial real estate:
Commercial mortgages:
Commercial construction	$	19,105		1.6%	$	24,664		2.2%
Multifamily		74,392		6.3%		74,463		6.6%
Owner occupied nonfarm nonresidential		122,506		10.4%		101,697		9.0%
Non-owner occupied nonfarm nonresidential		90,548		7.7%		83,882		7.4%
Other commercial		49,006		4.2%		41,176		3.7%
Student housing		48,043		4.1%		45,808		4.1%
Total commercial real estate	$	403,600		34.3%	$	371,690		33.0%

AtThe ~~December~~following ~~31,~~table ~~2024,~~presents the ~~estimated~~maturity ~~uninsured~~distribution ~~deposits,~~and orinterest ~~the~~rate ~~portion~~information of ~~deposit accounts which exceeded~~ the ~~Federal~~loan ~~Deposit~~portfolio ~~Corporation insurance limit, totaled $353.2 million. Of this amount, $202.0 million was collateralized~~ by ~~securities~~major ~~pledged~~category byas ~~the Corporation or letters~~ of ~~credit~~ ~~issued through the Federal Home Loan Bank of Pittsburgh. Time deposits of $250,000 or more totaled approximately $100.3 million at~~ December 31, ~~2024.~~2025:

See Note 7 within the Corporation’s Notes to the Consolidated Financial Statements which are included in this Annual Report on Form 10-K for more information regarding the Corporation’s deposits as of December 31, 2024.26

	As of December 31, 2025

	Fixed-Rate Loans										Variable- or Adjustable-Rate Loans										All Loans
	1 Year		1-5		5-15		>15				1 Year		1-5		5-15		>15
(In Thousands)	or Less		Years		Years		Years		Total		or Less		Years		Years		Years		Total		Total
Commercial and industrial	$	9,491	$	19,610	$	13,022	$	189	$	42,312	$	14,480	$	2,911	$	23,862	$	11,787	$	53,040	$	95,352
Commercial real estate:
Commercial mortgages		2,378		6,843		22,978		11,847		44,046		17,292		7,834		81,204		205,181		311,511		355,557
Student housing		—		2,000		2,012		—		4,012		617		5,393		15,070		22,951		44,031		48,043
Residential real estate		7,125		7,987		53,629		41,749		110,490		13,536		3,278		54,994		477,329		549,137		659,627
Consumer and other		1,406		4,966		2,313		357		9,042		9		748		3,137		6,066		9,960		19,002
Total	$	20,400	$	41,406	$	93,954	$	54,142	$	209,902	$	45,934	$	20,164	$	178,267	$	723,314	$	967,679	$	1,177,581

~~Borrowings~~See Note 4 within the Corporation’s Notes to the Consolidated Financial Statements which are included in this Annual Report on Form 10-K for more information regarding the Corporation’s loan portfolio as of December 31, 2025.

~~Short-term~~Asset borrowings consist primarily of securities sold under agreements to repurchase and periodic overnight or short-term Federal Home Loan Bank advances. Average short-term borrowings amounted to 10.3% and 25.9% of total interest-bearing liabilities for the years ended December 31, 2024 and 2023, respectively. This change was primarily related to the migration of customer repurchase agreements as well as a paydown in short-term FHLB borrowings during 2024 as discussed above.Quality

~~Long-term borrowings consist~~Loans ofthat ~~advances~~management ~~due~~has to the ~~FHLB~~intent -and ~~Pittsburgh.~~ability ~~Under~~to ~~terms~~hold offor athe ~~blanket~~foreseeable ~~agreement,~~future ~~the~~or ~~loans~~until ~~are~~maturity ~~secured~~or bypayoff ~~certain~~are ~~qualifying~~stated ~~assets~~at of the ~~Bank~~ ~~which~~amount ~~consist principally~~ of ~~first mortgage loans. The carrying value of these collateralized items was $822.1 million at December~~ 31unpaid principal, ~~2024.~~net ~~The Bank has lines~~ of ~~credit~~deferred ~~with~~loan ~~the~~fees ~~Federal~~and ~~Reserve Bank Discount Window~~costs, ~~FHLB – Pittsburgh,~~ and ~~Atlantic~~reduced ~~Community Bankers~~by ~~Bank in~~ the ~~aggregate~~allowance ~~amount~~for ofcredit ~~$588~~losses.0 ~~million~~The atallowance ~~December~~for ~~31,~~credit ~~2024.~~losses is ~~The~~established ~~unused~~through ~~portion~~a ofprovision ~~these~~for ~~lines of~~ credit ~~was~~losses ~~$486.6~~charged ~~million at~~to ~~December 31, 2024~~earnings.

~~See~~The ~~Note~~Corporation has 8established ~~within~~and ~~the~~consistently ~~Corporation’s Notes~~applies loan policies and procedures designed to foster sound underwriting and credit monitoring practices. Credit risk is managed through the ~~Consolidated~~efforts ~~Financial~~of ~~Statements~~loan ~~which~~officers, the Chief Credit Officer, the loan review function, as well as oversight from the Board of Directors. Management continually evaluates its credit risk management practices to ensure problems in the loan portfolio are ~~included~~addressed in ~~this~~a ~~Annual~~timely ~~Report~~manner, although, as is the case with any financial institution, a certain degree of credit risk is dependent in part on ~~Form~~local ~~10-K~~and ~~for~~general ~~more~~economic ~~information~~conditions ~~regarding~~that are beyond management’s control. Under the Corporation’s ~~borrowings~~risk rating system, loans are rated pass, special mention, substandard, doubtful, or loss, with all categories reviewed regularly as part of the ~~December~~risk ~~31,~~management ~~2024~~practices.

~~Capital~~Non-performing loans ~~Resources~~are monitored on an ongoing basis as part of the Corporation’s loan review process. Additionally, work-outs for non-performing loans and foreclosed assets held for sale are actively monitored through the Bank’s Credit Department. A potential loss on a non-performing asset is generally determined by comparing the outstanding loan balance to the fair market value of the pledged collateral, less estimated cost to sell.

Management ~~believes,~~actively asmanages ofnon-performing ~~December~~loans ~~31,~~in ~~2024,~~an ~~that~~effort ~~Journey~~to ~~Bank~~mitigate ~~meets~~loss ~~all~~to ~~capital~~the ~~adequacy~~Corporation ~~requirements~~by working with customers to ~~which~~develop itstrategies to isresolve ~~subject~~borrower difficulties, through sale or liquidation of collateral, foreclosure and other appropriate means. ~~Management~~In ~~annually~~addition, management ~~performs~~monitors ~~stress~~employment ~~testing~~and oneconomic conditions within its ~~regulatory~~market ~~capital~~area, ~~levels~~as ~~and~~weakening ~~expects~~of ~~Journey~~conditions ~~Bank~~could toresult ~~maintain~~in ~~capital~~real ~~levels~~estate ~~that~~devaluations and ~~exceed~~an ~~the~~increase ~~regulatory standards~~in ~~for~~loan ~~well-capitalized~~delinquencies, ~~institutions~~which ~~for~~could ~~the~~negatively ~~next~~impact 12asset ~~months~~quality and ~~for~~cause an increase in the ~~foreseeable~~provision ~~future~~for credit losses.

~~Future~~The following ~~dividend~~table ~~payments~~presents ~~and~~information ~~repurchases~~about ofnon-performing ~~common~~assets, ~~stock~~as ~~will depend upon maintenance~~ of aDecember ~~strong financial condition~~31, ~~future~~2025 ~~earnings~~ and ~~capital and~~December ~~regulatory requirements. In addition~~31, Journey Bank is subject to restrictions on the amount of dividends that may be paid without approval of banking regulatory authorities. Further, although Muncy Columbia Financial Corporation is not subject to the specific consolidated capital requirements, its ability to pay dividends, repurchase stock or engage in other activities may be limited by the Federal Reserve if it fails to hold sufficient capital commensurate with its overall risk profile.2024:

~~The~~Non-performing ~~following~~Assets ~~table reflects the Bank’s actual capital amounts and ratios at December 31, 2024 and 2023:~~

	Journey Bank				Minimum Required For Capital Adequacy Purposes		Minimum Required For Capital Adequacy Purposes with Conservation Buffer		Minimum Required To Be Well Capitalized Under Prompt Corrective Action Regulations
	December 31,		December 31,
(Dollars in Thousands)	Amount		Ratio			Ratio		Ratio		Ratio
(dollars in thousands)	2025		2024
December 31, 2024
Non-accrual loans	$	11,523	$	10,047
Total capital (to risk-weighted assets)	$	152,703	16.03%			8.00%		10.50%		10.00%
Loans past due 90 days or more and still accruing		135		—
Tier I capital (to risk-weighted assets)		143,417	15.06%			6.00%		8.50%		8.00%
Total non-performing loans		11,658		10,047
Tier I common equity (to risk-weighted assets)		143,417	15.06%			4.50%		7.00%		6.50%
Foreclosed assets held for sale		320		70
Tier I capital (to average assets)		143,417	9.10%			4.00%		4.00%		5.00%
Total non-performing assets	$	11,978	$	10,117
Total risk-weighted assets		952,452
Non-performing loans as a percentage of total loans, gross		0.99%		0.89%
Total average assets		1,576,746
Non-performing assets as a percentage of total assets		0.72%		0.63%
	Journey Bank				Minimum Required For Capital Adequacy Purposes		Minimum Required For Capital Adequacy Purposes with Conservation Buffer		Minimum Required To Be Well Capitalized Under Prompt Corrective Action Regulations
Allowance for credit losses as a percentage of total loans, gross		0.85%		0.88%
(Dollars in Thousands)	Amount			Ratio		Ratio		Ratio		Ratio
Allowance for credit losses to non-performing assets		83.14%		97.44%
December 31, 2023
Total capital (to risk-weighted assets)	$	138,382		14.49%		8.00%		10.50%		10.00%
Tier I capital (to risk-weighted assets)		129,053		13.52%		6.00%		8.50%		8.00%
Tier I common equity (to risk-weighted assets)		129,053		13.52%		4.50%		7.00%		6.50%
Tier I capital (to average assets)		129,053		8.03%		4.00%		4.00%		5.00%
Total risk-weighted assets		954,878
Total average assets		1,607,661

28Total non-performing assets amounted to $12.0 million, or 0.72% of total assets at December 31, 2025, as compared to $10.1 million, or 0.63% of total assets at December 31, 2024. For the year ended December 31, 2025, the Corporation experienced increases in non-accrual loans in multiple loan classifications, however, the most significant increase was in residential real estate loans which increased $1.3 million.

~~RESULTS OF OPERATIONS~~27

~~Net~~Residential ~~income~~real inestate ~~2024 amounted~~non-accrual toloans ~~$19.0~~are ~~million,~~generally orrelated ~~$5.33~~to ~~per~~a ~~share,~~homogenous anpopulation ~~increase~~ of ~~$15.6~~well ~~million~~secured ~~compared~~loans tocollateralized ~~$3.4~~by ~~million, or $~~1~~.49~~-4 ~~per~~family ~~share,~~residential ~~in 2023~~properties. ~~The increase~~With ~~in net~~respect ~~income~~to ~~for~~commercial ~~2024~~real ~~compared~~estate tonon-accrual ~~2023~~loans, ~~was~~the ~~primarily~~Corporation ~~attributable~~has toexperienced a ~~significant~~limited ~~increase~~number inof ~~net~~large ~~interest~~commercial ~~income along with nonrecurring~~relationships ~~expenses~~that ~~associated~~have ~~with~~required ~~the~~significant ~~MBF~~monitoring ~~merger~~and inworkout ~~2023~~efforts. ~~Pretax~~As ~~merger-related~~a ~~expenses~~result, ~~recorded~~these inrelationships ~~2023~~may ~~were~~significantly ~~$3.0~~impact ~~million,~~the ~~compared~~total ~~to $241,000~~amount inof ~~2024.~~allowance ~~Also,~~required ~~during~~on ~~the~~individual ~~fourth~~loans ~~quarter~~and ~~2023,~~may ~~the~~significantly ~~Corporation~~impact ~~recorded~~the ~~a one-time pretax~~ provision for credit losses and the amount of ~~$2.9~~total ~~million~~charge-offs ~~for~~reported ~~acquired~~in ~~non-PCD~~any ~~loans~~one period.

~~Net interest~~Management ~~income~~believes ~~increased~~it ~~$27.2~~has ~~million,~~been conservative orin ~~116.9%~~its todecisions ~~$50.5~~concerning ~~million~~identification inof ~~2024, from~~loans ~~$23.3 million~~requiring inindividual ~~2023. Non-interest~~evaluation ~~income was~~for ~~$10.4~~credit ~~million in 2024~~loss, anestimates ~~increase~~ of ~~$3.3~~ ~~million~~loss, orand nonaccrual ~~45.7%~~status; however, ~~from~~the ~~$7.1~~actual ~~million~~losses inrealized ~~2023,~~from ~~which~~these ~~primarily~~relationships ~~related~~could tovary ~~increases in~~materially ~~service~~from ~~charges~~the ~~and~~allowances ~~fees,~~calculated ~~earnings~~as of onDecember ~~bank-owned life insurance~~31, ~~interchange fees and other non-interest income~~2025. ~~Non-interest~~Management ~~expense was $37.7~~continues ~~million~~to inclosely ~~2024,~~monitor anits ~~increase~~loan ~~of $13.6~~relationships ~~million,~~for orcredit ~~56.2%,~~losses ~~from~~and ~~$24.1~~will ~~million~~adjust inits ~~2023,~~estimates ~~which~~of loss ~~was~~and ~~primarily~~decisions ~~related~~concerning tononaccrual ~~increases in~~status, ~~expenses~~if ~~following the MBF merger~~appropriate.

~~The annualized~~Allowance ~~return~~for onCredit average assets was 1.19% in 2024 compared to 0.32% in 2023. The annualized return on average equity was 11.88% in 2024 compared to 3.48% in 2023. The Corporation declared and paid dividends to holders of common stock of $1.76 per share in 2024 and $1.71 per share in 2023.Losses

~~Net~~The ~~Interest~~allowance ~~Income~~for credit losses was $10.0 million at December 31, 2025, compared to $9.9 million at December 31, 2024. The allowance equaled 0.85% of total loans, net of unearned fees and costs and unamortized fair value adjustments, at December 31, 2025 as compared to 0.88% of total loans at December 31, 2024. The allowance for credit losses is analyzed quarterly and reviewed by the Corporation’s Board of Directors. No concentration or apparent deterioration in classes of loans or pledged collateral was evident. Regular loan meetings with the Corporation’s Board of Directors reviewed new loans over specified thresholds. Delinquent loans, loan exceptions and certain large loans are addressed by the full Board no less than monthly to determine compliance with policies.

~~Net~~The ~~interest~~following ~~income~~tables is present the ~~difference~~allocation ~~between (i) interest income, interest and fees on interest-earning assets, and (ii) interest expense, interest paid on deposits and borrowed funds. Net interest income represents the largest component~~ of the ~~Corporation’s~~allowance ~~operating income~~for ~~and,~~credit losses as ~~such, is the primary determinant~~ of ~~profitability.~~December ~~Net interest income is impacted by variations in the volume~~31, ~~rate~~2025 and ~~composition~~ ofDecember ~~earning assets and interest-bearing liabilities~~31, ~~changes in general market interest rates and the level of non-performing assets. Interest income is shown on a fully tax-equivalent basis using the corporate statutory tax rate of 21.0% in~~ 2024 ~~and 2023.~~:

Tax-equivalent net interest income increased $28.0 million, or 119.0%, to $51.6 million in 2024 compared to $23.6 million in 2023. The increase in tax-equivalent net interest income was due to an increase in tax-equivalent interest income reflecting higher earning asset volumes and yields, partially offset by an increase in interest expense which resulted primarily from an increase in interest-bearing deposits and increased cost of funds. Tax-equivalent net interest margin, a key measurement used in the banking industry to measure income from earning assets relative to the cost to fund those assets, is calculated by dividing tax-equivalent net interest income by average interest-earning assets. The Corporation’s tax-equivalent net interest margin increased 112 basis points to 3.46% in 2024 compared to 2.34% in 2023, which was largely caused by increases in yields on earning assets outpacing the increase in cost of funds. Additionally, interest rate spread, the difference between the average yield on interest-earning assets, shown on a fully tax-equivalent basis, and the average cost of interest-bearing liabilities, increased 101 basis points to 2.86% in 2024 compared to 1.85% in 2023.

	December 31, 2025						December 31, 2024
(dollars in thousands)	Allowance for Credit Losses		Percent of Allowance		Percent of Loans to Gross Loans		Allowance for Credit Losses		Percent of Allowance		Percent of Loans to Gross Loans
Commercial and industrial	$	1,037		10.4%		8.1%	$	931		9.4%		8.3%
Commercial real estate		6,148		61.7%		34.3%		6,869		69.7%		33.0%
Residential real estate		2,556		25.7%		56.0%		1,850		18.8%		56.7%
Consumer and other		218		2.2%		1.6%		208		2.1%		1.9%
Total	$	9,959		100.0%		100.0%	$	9,858		100.0%		100.0%

~~Tax-equivalent interest~~The ~~income~~most ~~increased $44.2~~significant ~~million,~~changes orin the ~~114.4%,~~allowance tofor ~~$82.9~~credit ~~million~~losses inon ~~2024 from~~an ~~$38.7~~individual ~~million~~segment inbasis ~~2023,~~from ~~which~~December ~~was~~31, ~~largely~~2024 ~~caused by~~to ~~significant~~December ~~growth in average earning assets~~31, ~~coupled~~2025 ~~with~~include an increase in ~~the tax-equivalent yield on average earning assets. Average~~residential ~~earning~~real ~~assets~~estate ~~increased~~loans from $~~482.~~1 ~~million~~,850,000, or 4718.8% of the total allowance, to ~~$1.5~~at ~~billion~~December in31, 2024 ~~from~~ to $12,556,000, or 25.07% ~~billion~~of inthe ~~2023~~total allowance, at ~~resulting~~December in31, a2025, ~~corresponding increase~~as towell ~~tax-equivalent~~as ~~interest~~a ~~income~~decrease ofin ~~$27.1~~commercial ~~million.~~real ~~Specifically,~~estate ~~average~~ loans ~~increased~~from $~~493.7 million~~6,869,000, or 7969.37% of the total allowance, toat ~~$1.1~~December ~~billion~~31, in 2024 ~~from~~ to $~~622.5~~6,148,000, ~~million~~or in61.7% ~~2023,~~of ~~which~~the ~~reflected~~total ~~the~~allowance, ~~MBF~~at ~~merger~~December as31, ~~well~~2025. asThe ~~strong~~increase ~~organic~~for ~~loan~~residential ~~growth.~~real ~~Taxable~~estate ~~investment~~loans includes ~~securities~~the ~~averaged~~impact ~~$291.0~~of ~~million~~increases in ~~2024,~~non-accrual aloans ~~decrease of~~which ~~$63.5~~impacted ~~million,~~probability orof ~~17.9%,~~default ~~compared~~calculations toand ~~$354.4~~levels ~~million~~of inindividually ~~2023,~~evaluated loans and ~~tax-exempt securities~~related ~~averaged~~individually ~~$78.9~~evaluated ~~million~~allowance inlevels ~~2024,~~as anwell ~~increase of~~as ~~$55.4~~changes ~~million,~~in orqualitative ~~235.9%,~~factors ~~compared~~related to ~~$23.5~~the ~~million~~nature inof ~~2023,~~the ~~which~~loan ~~contributed~~portfolio, tovolume anand ~~increase~~severity of ~~$1.5~~ ~~million~~past indue ~~tax-equivalent~~loans, ~~interest~~loan ~~income.~~grade ~~The~~migration, ~~tax-equivalent~~changes ~~yield~~in onlending ~~earning~~staff, ~~assets~~changes ~~increased~~in ~~173~~lending ~~basis points~~policies toand ~~5.56%~~procedures inand forecasted ~~2024~~economic ~~from 3~~conditions.~~83%~~ inThe ~~2023,~~decrease ~~which~~for ~~resulted~~commercial inreal aestate ~~corresponding~~loans ~~increase~~includes inthe ~~tax-equivalent~~impact ~~interest~~of ~~income~~lower ofindividually ~~$17.1~~evaluated ~~million.~~allowances ~~The~~related ~~Corporation’s~~to ~~tax-equivalent~~student ~~yield~~housing on loans ~~increased~~due ~~144 basis points~~ to ~~6.58%~~a indecrease ~~2024 compared to 5.14%~~ in ~~2023~~loan balances, ~~resulting in~~an ~~a corresponding~~ increase in ~~tax-equivalent~~the ~~interest~~volume ~~income~~ of ~~$15.7~~collateral ~~million,~~dependent ~~due~~loans ~~primarily~~with tono ~~net~~allowance required ~~accretion~~due ofto ~~loan~~higher ~~fair~~overall ~~value~~nonperforming ~~adjustments recorded~~commercial inreal ~~conjunction~~estate ~~with~~loan ~~the~~balances ~~MBF merger~~ as well as ~~the~~a ~~continued~~decrease ~~repricing~~in ofallowance ~~existing~~levels ~~variable~~for ~~rate~~commercial construction loans due to decreases in ~~the~~volume ~~Corporation’s portfolio.~~and ~~Meanwhile, the~~loss ~~tax-equivalent~~rates ~~yield~~utilized. onThe ~~investment~~impact ~~securities~~of ~~increased 79~~these ~~basis~~items ~~points~~was topartially ~~2.49%~~offset inby ~~2024 from 1.70%~~changes in ~~2023 and caused~~qualitative factors aconsistent ~~corresponding~~with ~~increase~~residential toreal ~~tax-equivalent~~estate ~~interest~~loans ~~income~~as ofnoted $1above.~~3 million.~~

~~Interest expense~~See ~~increased~~Notes ~~$16.2 million, or 107.3%, to $31.3 million in 2024 from $15.~~1 ~~million~~and in4 ~~2023,~~within ~~which~~the ~~was primarily from an increase~~Corporation’s inNotes ~~funding~~to ~~costs, coupled with an increase in average deposits resulting from~~ the ~~MBF~~Consolidated ~~merger.~~Financial ~~Average~~Statements ~~borrowed funds,~~ which isare ~~largely comprised~~included ~~of customer repurchase agreements and FHLB of Pittsburgh advances, averaged $184.5 million~~ in ~~2024,~~this aAnnual ~~decrease~~Report ofon ~~$35.9 million~~Form ~~from $220.4 million in 2023. Lower volumes of average borrowed funds resulted in a corresponding decrease in interest expense of $1.7 million. Total average interest~~10-~~bearing~~K ~~deposits increased $431.1 million, or 79.4%, to $974.1 million~~ for ~~2024,~~more ~~compared to~~information ~~$543.0~~regarding million for 2023, which resulted in a corresponding increase in interest expense of $5.6 million. The Corporation experienced higher funding costs in 2023 and 2024 as a result of rising market rates and increased competition. For the ~~year ended December~~ ~~31, 2024, the~~ Corporation’s ~~cost~~allowance ~~of funds increased 72 basis points to 2.70% from 1.98%~~ for ~~the~~credit ~~year~~losses ~~ended~~as of December 31, ~~2023, which resulted in a corresponding increase in interest expense of $12~~2025.~~3 million.~~

29Deposits

~~The~~Deposits ~~following~~are ~~Average~~the ~~Balance~~primary source ~~Sheet~~of funds for the Corporation’s lending and ~~Rate~~investing ~~Analysis~~activities. ~~tables~~The ~~presents~~Corporation ~~the~~provides ~~average~~a ~~assets~~range of deposit services to businesses and individuals, ~~actual~~including ~~income~~noninterest-bearing orchecking ~~expense~~accounts, interest-bearing checking accounts, savings accounts, money market accounts and time deposits. These accounts generally earn interest at rates the ~~average~~Corporation ~~yield~~establishes based on ~~assets,~~market ~~liabilities~~factors and the ~~stockholders~~anticipated amount and timing of funding needs. The establishment or continuity of a core deposit relationship can be a factor in loan pricing decisions. While the Corporation’s ~~equity~~primary ~~for~~focus is on establishing customer relationships to attract core deposits, at times, the ~~years~~Corporation ~~ended~~may use brokered deposits and other wholesale deposits to supplement its funding sources. As of December 31, ~~2024~~2025, the ~~and~~Corporation ~~2023~~held no brokered deposits.

~~AVERAGE BALANCE SHEET AND RATE ANALYSIS~~28

~~YEARS~~The ~~ENDED~~following ~~DECEMBER~~tables summarize the average balances outstanding and average interest rates for each major category of deposits for years ended December 31, 2025 and 2024, respectively:

	2024								2023
	For the Years Ended
(In Thousands)	Average Balance		Interest			Average Rate			Average Balance		Interest			Average Rate
	December 31, 2025							December 31, 2024
ASSETS:		(1)								(1)
	Average			Average				Average			Average				Balance Change
Tax-exempt loans	$	41,875	$	1,889			4.51%		$	31,729	$	1,136			3.58%
	Balance			Rate				Balance			Rate				Amount			%
All other loans		1,074,344		71,513			6.66%			590,814		30,885			5.23%
(In Thousands)
Total loans (2)(3)(4)		1,116,219		73,402			6.58%			622,543		32,021			5.14%
Non-interest bearing	$	272,234			—	%		$	261,935			—	%		$	10,299			3.9	%
Taxable securities		290,951		5,063			1.74%			354,436		5,348			1.51%
Savings		194,195			0.03				198,175			0.03				(3,980	)		(2.0	)
Tax-exempt securitites (3)		78,907		4,145			5.25%			23,490		1,061			4.52%
Interest-bearing demand deposits		422,737			2.22				324,602			2.02				98,135			30.2
Total securities		369,858		9,208			2.49%			377,926		6,409			1.70%
Money market deposits		105,084			1.91				109,584			2.08				(4,500	)		(4.1	)
Federal funds sold		—		—			0.00%			3		—			0.00%
Time deposits		362,173			3.50				341,740			3.95				20,433			6.0
Interest-bearing deposits in other banks		5,339		288			5.39%			8,875		228			2.57%
Total deposits	$	1,356,423			1.78	%		$	1,236,036			1.81	%		$	120,387			9.7	%
Total interest-earning assets		1,491,416		82,898			5.56%			1,009,347		38,658			3.83%
Other assets		102,048								43,765
TOTAL ASSETS	$	1,593,464							$	1,053,112
LIABILITIES:
Savings	$	198,175		61			0.03%		$	167,611		51			0.03%
Now deposits		324,602		6,564			2.02%			165,347		506			0.31%
Money market deposits		109,584		2,270			2.07%			54,190		779			1.44%
Time deposits		341,740		13,507			3.95%			155,863		3,628			2.33%
Total interest-bearing deposits		974,101		22,402			2.30%			543,011		4,964			0.91%
Short-term borrowings		119,908		5,741			4.79%			197,827		9,119			4.61%
Long-term borrowings		64,633		3,135			4.85%			22,575		1,002			4.44%
Total borrowings		184,541		8,876			4.81%			220,402		10,121			4.59%
Total interest-bearing liabilities		1,158,642		31,278			2.70%			763,413		15,085			1.98%
Noninterest-bearing deposits		261,935								186,934
Other liabilities		12,752								5,538
Stockholders’ equity		160,135								97,227
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	1,593,464							$	1,053,112
Interest rate spread (6)							2.86%								1.85%
Net interest income/margin (5)			$	51,620			3.46%				$	23,573			2.34%

~~(1)~~The ~~Average~~Corporation ~~volume~~believes ~~information~~its ~~was~~deposit product ~~compared~~offerings ~~using~~are ~~daily~~properly ~~averages~~structured ~~for~~to attract and retain core low-cost deposit relationships. The average cost of interest-~~earning~~bearing deposits for the years ended December 31, 2025, and ~~bearing~~2024, ~~accounts~~was 2.22% and 2.30%, respectively. The decreased cost was primarily attributable to decreased market rates during 2024 and 2025.

~~(2)~~At ~~Interest~~December 31, on2025, ~~loans~~estimated ~~includes~~uninsured ~~loan~~deposits, ~~fee~~or ~~income~~the portion of deposit accounts which exceeded the Federal Deposit Corporation insurance limit, totaled $383.6 million. Of this amount, $146.9 million was collateralized by securities pledged by the Corporation or letters of credit issued through the Federal Home Loan Bank of Pittsburgh. Time deposits of $250,000 or more totaled approximately $97.0 million at December 31, 2025.

~~(3)~~See ~~Tax~~Note ~~exempt~~6 ~~interest~~within ~~revenue~~the isCorporation’s Notes ~~shown~~to onthe aConsolidated ~~tax-equivalent~~Financial ~~basis~~Statements ~~using~~which aare ~~statutory~~included ~~federal~~in ~~income~~this ~~tax~~Annual ~~rate~~Report ofon 21Form ~~percent~~10-K for ~~2024~~more ~~and~~information ~~2023~~regarding the Corporation’s deposits as of December 31, 2025.

~~(4) Nonaccrual loans have been included with loans for the purpose of analyzing net interest earnings.~~Borrowings

~~(5)~~Short-term ~~Net~~borrowings ~~interest~~consist primarily ~~margin~~of issecurities ~~computed~~sold byunder ~~dividing~~agreements ~~annualized~~to ~~tax~~repurchase and periodic overnight or short-~~equivalent~~term ~~net~~Federal ~~interest~~Home ~~income~~Loan byBank advances. Average short-term borrowings amounted to 2.4% and 10.3% of total interest-bearing ~~earning~~liabilities ~~assets~~for the years ended December 31, 2025 and 2024, respectively. This change was primarily related to the migration of customer repurchase agreements as well as a paydown in short-term FHLB borrowings during 2025.

~~(6)~~Long-term ~~Interest~~borrowings ~~rate~~consist ~~spread~~of advances ~~represents~~due to the ~~difference~~FHLB ~~between~~- Pittsburgh. Under terms of a blanket agreement, the ~~average~~loans ~~rate~~are ~~earned~~secured onby ~~interest-earning~~certain qualifying assets of the Bank which consist principally of first mortgage loans. The carrying value of these collateralized items was $856.5 million at December 31, 2025. The Bank has lines of credit with the Federal Reserve Bank Discount Window, FHLB – Pittsburgh, and Atlantic Community Bankers Bank in the ~~average~~aggregate ~~rate~~amount ~~paid~~of on$613.4 ~~interest-bearing~~million ~~liabilities~~at December 31, 2025. The unused portion of these lines of credit was $557.2 million at December 31, 2025.

30See Note 7 within the Corporation’s Notes to the Consolidated Financial Statements which are included in this Annual Report on Form 10-K for more information regarding the Corporation’s borrowings as of December 31, 2025.

Reconcilement of Taxable Equivalent Net Interest Income
	For the Years Ended December 31,
	2024		2023
(In Thousands)
Total interest income	$	81,743	$	38,347
Total interest expense		31,278		15,085
Net interest income		50,465		23,262
Tax equivalent adjustment		1,155		311
Net interest income
(fully taxable equivalent)	$	51,620	$	23,573

Capital Resources

~~Rate/Volume~~Management believes, ~~Analysis~~as of December 31, 2025, that Journey Bank meets all capital adequacy requirements to which it is subject. Management annually performs stress testing on its regulatory capital levels and expects Journey Bank to maintain capital levels that exceed the regulatory standards for well-capitalized institutions for the next 12 months and for the foreseeable future.

ToFuture dividend ~~enhance~~payments ~~the~~and ~~understanding~~ repurchases of ~~the~~common ~~effects~~stock will depend upon maintenance of ~~volumes~~a ~~(the~~strong ~~average~~financial ~~balance~~condition, offuture ~~earning~~earnings ~~assets~~and capital and ~~costing~~regulatory ~~liabilities)~~requirements. ~~and~~In ~~average~~addition, ~~interest~~Journey ~~rate~~Bank ~~fluctuations~~is subject to restrictions on the ~~Consolidated~~ ~~Balance~~amount ~~Sheets~~of asdividends itthat ~~pertains~~may tobe ~~net~~paid ~~interest~~without approval ~~income~~of banking regulatory authorities. Further, ~~the~~although ~~table~~Muncy ~~below~~Columbia ~~reflects~~Financial ~~these~~Corporation ~~changes~~is ~~for~~not ~~the~~subject ~~years~~to ~~ended~~the ~~December~~specific consolidated 31capital requirements, ~~2024~~its ~~versus~~ability ~~December~~to 31pay dividends, ~~2023:~~repurchase stock or engage in other activities may be limited by the Federal Reserve if it fails to hold sufficient capital commensurate with its overall risk profile.

	Years Ended December 31,
	2024 vs 2023
	Increase (Decrease)
	Due to
(In Thousands)	Volume			Rate		Net
Interest income:
Loans, tax-exempt	$	363		$	390	$	753
Loans		25,277			15,351		40,628
Taxable investment securities		(958	)		673		(285	)
Tax-exempt investment securities		2,503			581		3,084
Federal funds sold		—			—		—
Interest bearing deposits		(91	)		151		60
Total interest-earning assets		27,094			17,146		44,240
Interest expense:
Savings		9			1		10
NOW deposits		487			5,571		6,058
Money market deposits		796			695		1,491
Time deposits		4,327			5,552		9,879
Short-term borrowings		(3,592	)		214		(3,378	)
Long-term borrowings, FHLB		1,867			266		2,133
Total interest-bearing liabilities		3,894			12,299		16,193
Change in net interest income	$	23,200		$	4,847	$	28,047

~~Provision~~The ~~for~~following ~~Credit~~table ~~Losses~~reflects -the ~~Loans~~Bank’s actual capital amounts and ratios at December 31, 2025 and 2024:

For the year ended December 31, 2024, the Corporation recorded a $847,000 provision for credit losses on loans compared to $2.6 million for the year ended December 31, 2023. The provision for 2024 primarily reflects an increase in volume in the loan portfolio along with changes in qualitative factors related to the nature of the loan portfolio, volume and severity of past due loans, loan grade migration, changes in lending staff and changes in lending policies and procedures. The provision for 2023 was primarily as a result of a $2.9 million one-time provision related to purchased non-PCD loans acquired as part of the MBF merger, as well as a net credit due to other factors.

	Journey Bank					Minimum Required For Capital Adequacy Purposes			Minimum Required For Capital Adequacy Purposes with Conservation Buffer			Minimum Required To Be Well Capitalized Under Prompt Corrective Action Regulations
(Dollars in Thousands)	Amount		Ratio			Ratio			Ratio			Ratio
December 31, 2025
Total capital (to risk-weighted assets)	$	170,931		16.87	%		8.00	%		10.50	%		10.00	%

Tier I capital (to risk-weighted assets)		161,300		15.92	%		6.00	%		8.50	%		8.00	%

Tier I common equity (to risk-weighted assets)		161,300		15.92	%		4.50	%		7.00	%		6.50	%

Tier I capital (to average assets)		161,300		9.93	%		4.00	%		4.00	%		5.00	%

Total risk-weighted assets		1,013,109

Total average assets		1,624,578

See Note 1 and 5 within the Corporation’s Notes to the Consolidated Financial Statements which are included in this Annual Report on Form 10-K for more information regarding the Corporation’s allowance for credit losses as of December 31, 2024.

	Journey Bank					Minimum Required For Capital Adequacy Purposes			Minimum Required For Capital Adequacy Purposes with Conservation Buffer			Minimum Required To Be Well Capitalized Under Prompt Corrective Action Regulations
(Dollars in Thousands)	Amount		Ratio			Ratio			Ratio			Ratio
December 31, 2024
Total capital (to risk-weighted assets)	$	152,703		16.03	%		8.00	%		10.50	%		10.00	%

Tier I capital (to risk-weighted assets)		143,417		15.06	%		6.00	%		8.50	%		8.00	%

Tier I common equity (to risk-weighted assets)		143,417		15.06	%		4.50	%		7.00	%		6.50	%

Tier I capital (to average assets)		143,417		9.10	%		4.00	%		4.00	%		5.00	%

Total risk-weighted assets		952,452

Total average assets		1,576,746

31RESULTS OF OPERATIONS

~~Non~~Net income in 2025 amounted to $24.2 million, or $6.85 per share, an increase of $5.2 million compared to $19.0 million, or $5.33 per share, in 2024. The increase in net income for 2025 compared to 2024 was primarily attributable to a significant increase in net interest income, partially offset by increases in non-interest ~~Income~~expense and income tax provision expense.

~~Total~~Net ~~non-~~interest ~~income~~ income increased $310.31 million, or 4520.71% to $1060.46 million ~~for~~in ~~the~~2025, from ~~year~~$50.5 million ~~ended~~in ~~December 31,~~ 2024,. Non-interest ~~compared~~income to was $710.14 million ~~for~~in ~~the~~both ~~year~~2025 ~~ended~~and ~~December 31, 2023~~2024. ~~Service~~Non-interest ~~charges~~expense was ~~and~~$41.0 ~~fees~~million ~~increased~~in ~~$638~~2025,~~000~~ ~~due to~~ an ~~increased~~increase ~~number~~ of ~~accounts and increased transaction volumes due to the MBF merger~~ $3.4 ~~Interchange fees increased $801~~million,~~000~~ or 438.69%, ~~due~~from $37.7 tomillion ~~an increase~~ in ~~the~~2024, ~~volume~~which ofwas ~~transactions~~primarily ~~due~~related to ~~the~~increases ~~MBF~~in ~~merger~~salaries and ~~continued~~ ~~increase~~employee ~~in electronic payments. Earnings on bank-owned life insurance increased $425~~benefits,~~000~~ orPennsylvania ~~84.5%~~shares ~~from~~tax ~~$503,000~~and ~~to $928,000~~professional ~~due to an increase in cash surrender values related to the MBF merger~~fees. ~~Other~~Income ~~non-interest~~tax ~~income~~provision expense increased $~~930~~1.6 million,~~000~~ or ~~92.4~~47% ~~due primarily~~ to ~~incentives~~$4.9 ~~received~~million in ~~conjunction with the launch of a debit card reissuance project~~2025, afrom ~~governmental~~$3.3 ~~grant~~million ~~recorded~~ in ~~conjunction with the completion of a solar energy project~~2024, ~~increases~~due into ~~merchant~~higher ~~services income and secondary market mortgage servicing fees~~pretax earnings.

	For the Years Ended
	December 31, 2024						December 31, 2023						Change
(In Thousands)	Amount			% Total			Amount			% Total			Amount			%
Service charges and fees	$	2,732			26.3	%	$	2,094			29.4	%	$	638			30.5	%
Interchange fees		2,640			25.4			1,839			25.8			801			43.6
Gain on sale of loans		413			4.0			276			3.9			137			49.6
Earnings on bank-owned life insurance		928			8.9			503			7.1			425			84.5
Brokerage		807			7.8			636			8.9			171			26.9
Trust		943			9.1			885			12.4			58			6.6
Gains (losses) on marketable equity securities		60			0.6			(119	)		(1.7			179			150.4
Realized losses on available-for-sale debt securities, net		(85	)		(0.8			—			—			(85	)		(100.0
Other non-interest income		1,937			18.7			1,007			14.2			930			92.4
Total non-interest income	$	10,375			100.0	%	$	7,121			100.0	%	$	3,254			45.7	%

The annual return on average assets was 1.49% in 2025 compared to 1.19% in 2024. The annualized return on average equity was 13.57% in 2025 compared to 11.88% in 2024. The Corporation declared and paid dividends to holders of common stock of $2.30 per share in 2025 and $1.76 per share in 2024.

~~Non-interest~~Net ~~Expense~~Interest Income

~~Total non-~~Net interest income ~~expense~~is ~~increased $13.6 million or 56.2% from $24.1 million for~~ the ~~year~~difference ~~ended~~between ~~December~~(i) ~~31,~~interest ~~2023~~income, tointerest ~~$37.7~~and ~~million~~fees ~~for~~on ~~the year~~interest-earning ~~ended December 31~~assets, ~~2024.~~and ~~The~~(ii) ~~MBF merger has contributed significantly to increases in all components of non-~~interest expense., ~~Salaries~~interest ~~and~~paid ~~employee~~on ~~benefits~~deposits ~~increased $7.4 million, occupancy increased $1.1 million, Pennsylvania shares tax increased $576,000, data processing~~ and ~~telecommunications~~borrowed ~~increased $2~~funds.0 ~~million~~Net ~~and other non-~~interest ~~expense~~income ~~increased~~represents ~~$1.6~~the ~~million.~~largest ~~All~~component of ~~these~~the ~~increases~~Corporation’s ~~relate~~operating toincome ~~the~~and, ~~closing~~as ofsuch, is the ~~MBF~~primary ~~merger~~determinant onof ~~November 11, 2023~~profitability. ~~Merger-related~~Net ~~expenses~~interest ~~totaled~~income ~~$241,000~~is ~~for~~impacted ~~the~~by ~~year~~variations ~~ended~~in ~~December~~the 31volume, ~~2024,~~rate ~~compared~~and composition toof ~~$3.0~~earning ~~million~~assets ~~for~~and ~~the~~interest-bearing ~~year ended December 31~~liabilities, ~~2023.~~changes ~~Amortization~~in ofgeneral ~~intangibles~~market ~~totaled~~interest ~~$2.2~~rates ~~million~~and ~~for~~ the ~~year~~level ~~ended~~of ~~December~~non-performing ~~31,~~assets. Interest ~~2024,~~income ~~compared~~is toshown ~~$183,000~~on ~~for~~a ~~the~~fully ~~year~~tax-equivalent ~~ended~~basis ~~December~~using ~~31, 2023 with~~ the ~~increase~~corporate ~~being~~statutory ~~due~~tax ~~primarily~~rate ~~to amortization~~ of ~~the~~21.0% ~~core~~in ~~deposit intangible~~2025 ~~related~~and ~~to the MBF merger~~2024.

One standard to measure non-interest expense is to express annualized non-interest expense as a percentage of average total assets. For the year ended December 31, 2024 this percentage was 2.53% compared to 2.39% for the year ended December 31, 2023.30

	For the Years Ended
	December 31, 2024					December 31, 2023					Change
(In Thousands)	Amount		% Total			Amount		% Total			Amount			%
Salaries and employee benefits	$	19,027		50.5	%	$	11,618		48.2	%	$	7,409			63.8	%
Occupancy		2,459		6.5			1,391		5.8			1,068			76.8
Furniture and equipment		1,665		4.4			1,192		4.9			473			39.7
Pennsylvania shares tax		941		2.5			365		1.5			576			157.8
Professional fees		1,522		4.0			1,280		5.3			242			18.9
Director’s fees		618		1.6			326		1.4			292			89.6
Federal deposit insurance		820		2.2			478		2.0			342			71.5
Data processing and telecommunications		3,595		9.5			1,559		6.5			2,036			130.6
Automated teller machine and interchange		671		1.8			340		1.4			331			97.4
Merger-related expenses		241		0.6			3,028		12.6			(2,787	)		(92.0
Amortization of intangibles		2,202		5.8			183		0.8			2,019			100.0
Other non-interest expense		3,901		10.6			2,350		9.6			1,551			66.0
Total non-interest expense	$	37,662		100.0	%	$	24,110		100.0	%	$	13,552			56.2	%

Tax-equivalent net interest income increased $10.2 million, or 19.7%, to $61.8 million in 2025 compared to $51.6 million in 2024. The increase in tax-equivalent net interest income was due to an increase in tax-equivalent interest income reflecting higher earning asset volumes and yields, along with a decrease in interest expense which resulted primarily from a significant decrease in average borrowings coupled with a decrease in the average rate paid on total interest-bearing liabilities. Tax-equivalent net interest margin, a key measurement used in the banking industry to measure income from earning assets relative to the cost to fund those assets, is calculated by dividing tax-equivalent net interest income by average interest-earning assets. The Corporation’s tax-equivalent net interest margin increased 62 basis points to 4.08% in 2025 compared to 3.46% in 2024, which was largely caused by increases in yields on earning assets along with a decrease in total in cost of funds. Additionally, interest rate spread, the difference between the average yield on interest-earning assets, shown on a fully tax-equivalent basis, and the average cost of interest-bearing liabilities, increased 66 basis points to 3.52% in 2025 compared to 2.86% in 2024.

Tax-equivalent interest income increased $6.3 million, or 7.6%, to $89.2 million for the year ended December 31, 2025 from $82.9 million for the same period in 2024, which was largely caused by growth in average earning assets, coupled with an increase in the tax-equivalent yield on average earning assets. Average earning assets increased $25.1 million, or 1.7%, to $1.517 billion for year ended December 31, 2025 from $1.491 billion for the same period in 2024, resulting in a corresponding increase to tax-equivalent interest income of $3.4 million. Specifically, average loans increased $50.2 million, or 4.5%, to $1.166 billion for the year ended December 31, 2025 from $1.116 billion for the same period in 2024, which reflected strong organic loan growth. Total investment securities averaged $331.6 million for the year ended December 31, 2025, a decrease of $38.3 million, or 10.3%, compared to $369.9 million for the same period in 2024, which contributed to a net decrease of $0.7 million in tax-equivalent interest income. The tax-equivalent yield on earning assets increased 32 basis points to 5.88% for the year ended December 31, 2025 from 5.56% for the same period in 2024, which resulted in a corresponding increase in tax-equivalent interest income of $2.9 million. The Corporation's tax-equivalent yield on loans increased 11 basis points to 6.69% for the year ended December 31, 2025 compared to 6.58% for the same period in 2024, resulting in a corresponding increase in tax-equivalent interest income of $1.2 million, due primarily to the origination of new loans at higher yields and the continued repricing of existing variable rate loans in the Corporation’s portfolio. Meanwhile, the tax-equivalent yield on investment securities increased 67 basis points to 3.16% for the year ended December 31, 2025 from 2.49% for the same period in 2024 and caused a corresponding increase to tax-equivalent interest income of $1.9 million.

~~LIQUIDITY~~Interest expense decreased $3.9 million, or 12.3%, to $27.4 million for the year ended December 31, 2025 from $31.3 million for the same period in 2024, which was primarily from a significant decrease in average borrowings, coupled with a lower overall cost of funds. Average borrowed funds, which is largely comprised of customer repurchase agreements and FHLB of Pittsburgh advances, averaged $75.0 million for the year ended December 31, 2025, a decrease of $109.6 million from $184.5 million for the same period in 2024. Lower volumes of average borrowed funds resulted in a corresponding decrease in interest expense of $5.3 million. Total average interest-bearing deposits increased $110.1 million, or 11.3%, to $1.084 billion for the year ended December 31, 2025, compared to $974.1 million for the same period in 2024, which resulted in a corresponding increase in interest expense of $2.7 million. For the year ended December 31, 2025, the Corporation's cost of funds decreased 33 basis points to 2.37% from 2.70% for the same period in 2024. The average rate paid on total borrowings decreased 40 basis points to 4.41% for the year ended December 31, 2025 from 4.81% for the same period in 2024. The average rate paid on total interest-bearing deposits decreased 8 basis points to 2.22% for the year ended December 31, 2025 from 2.30% for the same period in 2024, which resulted in a corresponding decrease in interest expense of $1.0 million.

The ~~Bank’s~~following ~~liquidity,~~Average Balance ~~represented~~Sheet ~~by cash~~ and ~~due~~Rate ~~from~~Analysis ~~banks,~~tables ispresents athe ~~product~~average ~~of its operating~~assets, ~~investing~~actual ~~and~~income ~~financing~~or ~~activities.~~expense ~~The Bank’s primary sources of funds are deposits, securities sold under agreements to repurchase, principal repayments of securities~~ and ~~outstanding loans, funds provided from operations, and day-to-day FHLB – Pittsburgh borrowings. In addition,~~ the ~~Bank~~average ~~invests~~yield ~~excess~~on ~~funds in short-term interest-earning~~ assets ~~such as overnight deposits or U.S. agency securities~~, ~~which~~liabilities ~~provide liquidity to meet lending requirements. While~~and ~~scheduled~~stockholders' ~~payments~~equity ~~from~~for the ~~amortization~~years ofended ~~loans~~December ~~and securities and short-term investments are relatively predictable sources of funds~~31, ~~general~~ ~~interest~~2025 ~~rates, economic conditions~~ and ~~competition greatly influence deposit flows and repayments on loans and mortgage-backed securities~~2024.

The Bank strives to maintain sufficient liquidity to fund operations, loan demand and to satisfy fluctuations in deposit levels. The Bank is required to have enough investments that qualify as liquid assets in order to maintain sufficient liquidity to ensure safe and sound banking operations. Liquidity may increase or decrease depending upon the availability of funds and comparative yields on investments in relation to the return on loans. The Bank attempts to maintain adequate but not excessive liquidity, and liquidity management is both a daily and long-term function of its business management. The Bank manages its liquidity in accordance with a board of directors-approved asset liability policy and liquidity contingency plan, which are administered by its asset-liability committee (“ALCO”). ALCO reports interest rate sensitivity, liquidity, capital and investment-related matters on a quarterly basis to the Bank’s board of directors.31

~~The~~AVERAGE ~~Bank~~BALANCE ~~reviews~~SHEET ~~cash~~AND ~~flow projections~~RATE regularly and updates them in order to maintain liquid assets at levels believed to meet the requirements of normal operations, including loan commitments and potential deposit outflows from maturing certificates of deposit and savings withdrawals. While deposits and securities sold under agreements to repurchase are its primary source of funds, when needed it is also able to generate cash through borrowings from the FHLB. At December 31, 2024, the Bank had remaining available capacity with FHLB, subject to certain collateral restrictions, of $468.0 million.ANALYSIS

~~Liquidity~~YEAR ~~management~~ENDED ~~is required~~DECEMBER ~~to ensure that adequate funds will be available to meet anticipated and unanticipated deposit withdrawals~~31, debt service payments, investment commitments, commercial and consumer loan demand, and ongoing operating expenses. Funding sources include principal repayments on loans, sale of assets, growth in time and core deposits, short and long-term borrowings, investment securities coming due, loan prepayments and repurchase agreements. Regular loan payments are a dependable source of funds, while the sale of investment securities, deposit growth and loan prepayments are significantly influenced by general economic conditions and the level of interest rates.

The statement of cash flows presents the change in cash and cash equivalents from operating, investing and financing activities. Cash and due from banks and interest-bearing deposits in other banks, which comprise cash and cash equivalents, are the Corporation’s most liquid assets. Cash and cash equivalents totaled $17.4 million at December 31, 2024, a decrease of $1.0 million, or 5.4%, from $18.4 million at December 31, 2023, as net cash inflows from operating and investing activities were less than net cash outflows from financing activities.

	2025								2024
(In Thousands)	Average Balance			Interest		Average Rate			Average Balance			Interest		Average Rate
ASSETS:		(1	)							(1	)
Tax-exempt loans	$	40,965		$	1,976		4.82	%	$	41,875		$	1,889		4.51	%
All other loans		1,125,411			76,002		6.75	%		1,074,344			71,513		6.66	%
Total loans (2)(3)(4)		1,166,376			77,978		6.69	%		1,116,219			73,402		6.58	%

Taxable securities		252,245			6,205		2.46	%		290,951			5,063		1.74	%
Tax-exempt securities (3)		79,344			4,283		5.40	%		78,907			4,145		5.25	%
Total securities		331,589			10,488		3.16	%		369,858			9,208		2.49	%

Interest-bearing deposits in other banks		18,584			767		4.13	%		5,339			288		5.39	%

Total interest-earning assets		1,516,549			89,233		5.88	%		1,491,416			82,898		5.56	%

Other assets		108,871								102,048

TOTAL ASSETS	$	1,625,420							$	1,593,464

LIABILITIES:
Savings	$	194,195			58		0.03	%	$	198,175			61		0.03	%
Now deposits		422,737			9,382		2.22	%		324,602			6,564		2.02	%
Money market deposits		105,084			2,005		1.91	%		109,584			2,270		2.07	%
Time deposits		362,173			12,670		3.50	%		341,740			13,507		3.95	%
Total interest-bearing deposits		1,084,189			24,115		2.22	%		974,101			22,402		2.30	%

Short-term borrowings		28,123			1,103		3.92	%		119,908			5,741		4.79	%
Long-term borrowings		46,849			2,201		4.70	%		64,633			3,135		4.85	%
Total borrowings		74,972			3,304		4.41	%		184,541			8,876		4.81	%

Total interest-bearing liabilities		1,159,161			27,419		2.37	%		1,158,642			31,278		2.70	%

Noninterest-bearing deposits		272,234								261,935
Other liabilities		15,567								12,752
Stockholders' equity		178,458								160,135
TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY	$	1,625,420							$	1,593,464
Interest rate spread (6)							3.52	%							2.86	%
Net interest income/margin (5)				$	61,814		4.08	%				$	51,620		3.46	%

~~Net cash inflows from investing activities provided $48.5 million of cash and cash equivalents during the year ended December 31, 2024. Accounting for the majority of the net cash inflows was $107.~~(1) ~~million~~Average ~~related~~volume toinformation ~~proceeds from sales, paydowns, calls and maturities of available-for-sale debt securities. This~~ was ~~partially~~compared ~~offset~~using bydaily ~~purchases~~averages ~~of available-~~for~~-sale~~ debt securities of $14.9 million and a net increase in loans and leases of $47.4 million, which reflected strong loan demand. Financing activities used $66.4 million in net cash, which resulted primarily from a decrease in shortinterest-~~term~~earning ~~borrowings, consisting of customer repurchase agreements~~ and ~~short-term~~bearing FHLB borrowings, of $184.1 million. These outflows were offset by a $140.6 million increase in deposits. These changes were primarily related to a strategic initiative to reposition customer repurchase agreements into core deposit accounts. Operating activities include net income, adjusted for the effects of non-cash transactions including, among others, depreciation and amortization and the provision for credit losses, and is the primary source of cash flows from operations. For the year ended December 31, 2024, operating activities provided the Corporation with $16.9 million in net cash, which primarily reflected net income of $19.0 million.

~~The Corporation~~(2) ~~regularly~~Interest ~~analyzes~~on ~~its~~loans ability to generate adequate amounts of cash to meet its short and long-term cash requirements and plans. As part of its quarterly asset liability management procedures, the Corporation performs liquidity cash flow forecasts in various base level and stress scenarios to monitor future cash needs. As of December 31, 2024, the Corporation is expected to maintain a level cash balance over the next 12 months. The Corporation has not identified any known demands, commitments, events or uncertainties that would result or that are reasonably likely to result in its liquidity position materially increasing or decreasing over the next 12 months. The Corporation’s long-term cash needs are regularly analyzed through its strategic planning process, which includes aloan ~~detailed review~~fee ~~of liquidity and funding needs~~income.

We(3) ~~manage~~Tax ~~liquidity~~exempt oninterest arevenue ~~daily basis. We believe that our liquidity~~ is ~~sufficient~~shown ~~to meet present and future financial obligations and commitments~~ on a ~~timely~~tax-equivalent basis~~. However,~~ ~~see~~using ~~potential~~a ~~liquidity~~statutory ~~risk~~federal ~~factors~~income attax ~~Item~~rate ~~1A – Risk Factors and refer to the Consolidated Statements~~ of ~~Cash~~21 ~~Flows~~percent ~~contained in~~for ~~this~~2025 ~~Annual~~and ~~Report on Form 10-K~~2024.

33(4) Nonaccrual loans have been included with loans for the purpose of analyzing net interest earnings.

~~INTEREST~~(5) ~~RATE~~Net ~~RISK~~interest ~~MANAGEMENT~~margin is computed by dividing annualized tax-equivalent net interest income by total interest earning assets.

(6) Interest rate ~~risk~~spread ~~management involves~~represents ~~managing~~ the ~~extent~~difference tobetween ~~which~~the ~~interest-sensitive~~average ~~assets and interest-sensitive liabilities are matched. Interest~~ rate ~~sensitivity is~~earned ~~the~~on ~~relationship between market~~ interest-earning ~~rates~~assets and ~~earnings volatility due to~~ the ~~repricing~~average ~~characteristics~~rate ofpaid ~~assets~~on ~~and liabilities. The Bank’s net~~ interest-bearing income is affected by changes in the level of market interest rates. In order to maintain consistent earnings performance, the Bank seeks to manage, to the extent possible, the repricing characteristics of its assets and liabilities.

One major objective of the Bank when managing the rate sensitivity of its assets and liabilities is to stabilize net interest income. The management of and authority to assume interest rate risk is the responsibility of the Bank’s ALCO, which is comprised of senior management and Board members. ALCO meets quarterly to monitor the ratio of interest sensitive assets to interest sensitive liabilities. The process to review interest rate risk is a regular part of management of the Bank. Consistent policies and practices of measuring and reporting interest rate risk exposure, particularly regarding the treatment of noncontractual assets and liabilities, are in effect. In addition, there is an annual process to review the interest rate risk policy with the Board of Directors which includes limits on the impact to earnings from shifts in interest rates.32

The ratio between assets and liabilities repricing in specific time intervals is referred to as an interest rate sensitivity gap. Interest rate sensitivity gaps can be managed to take advantage of the slope of the yield curve as well as forecasted changes in the level of interest rate changes.

Reconcilement of Taxable Equivalent Net Interest Income
	For the Years Ended December 31,
	2025		2024
(In Thousands)
Total interest income	$	88,018	$	81,743
Total interest expense		27,419		31,278

Net interest income		60,599		50,465
Tax equivalent adjustment		1,215		1,155

Net interest income (fully taxable equivalent)	$	61,814	$	51,620

~~To manage the interest sensitivity position, an asset~~Rate/~~liability~~Volume model called “gap analysis” is used to monitor the difference in the volume of the Bank’s interest sensitive assets and liabilities that mature or reprice within given periods. A positive gap (asset sensitive) indicates that more assets reprice during a given period compared to liabilities, while a negative gap (liability sensitive) has the opposite effect. The Bank employs computerized net interest income simulation modeling to assist in quantifying interest rate risk exposure. This process measures and quantifies the impact on net interest income through varying interest rate changes and balance sheet compositions. The use of this model assists the ALCO to gauge the effects of the interest rate changes on interest sensitive assets and liabilities in order to determine what impact these rate changes will have upon our net interest spread. At December 31, 2024, our cumulative gap positions were within the internal risk management guidelines.Analysis

~~In addition~~To toenhance ~~gap analysis,~~ the ~~Bank~~understanding ~~uses net interest income simulations and economic value~~ of ~~equity (“EVE”) simulations as~~ the ~~primary~~effects ~~tools~~of involumes ~~measuring and managing~~ (the ~~Bank’s~~average ~~position and considers~~ balance ~~sheet~~of ~~forecasts,~~earning ~~the~~assets ~~Bank’s~~and ~~liquidity position,~~costing ~~the~~liabilities) ~~economic~~and ~~environment,~~average ~~anticipated direction of~~ interest ~~rates~~rate ~~and~~fluctuations on the ~~Bank’s earnings sensitivity to changes in these~~Consolidated ~~rates~~Balance inSheets ~~its~~as ~~modeling.~~it Inpertains ~~addition,~~to ~~ALCO has established policy tolerance limits for acceptable negative changes in~~ net interest income~~. Furthermore~~, asthe ~~part~~table ofbelow ~~its~~reflects ~~ongoing~~these ~~monitoring,~~changes ~~ALCO~~for ~~requires~~the ~~annual~~years ~~back~~ended ~~testing~~December ~~of modeling results~~31, ~~which~~2025 ~~involves after-the-fact comparisons~~versus ofDecember ~~projections~~31, ~~with the Bank’s actual performance to measure the validity of assumptions used in the modeling techniques.~~2024:

The following table illustrates the simulated impact of parallel and instantaneous interest rate shocks of +100, +200, +300, -100, -200, and -300 basis points on net interest income and the change in economic value over a one-year time horizon from the December 31, 2024 levels:

	Years Ended December 31,
	2025 vs 2024
	Increase (Decrease)
	Due to
(In Thousands)	Volume			Rate			Net
Interest income:
Loans, tax-exempt	$	(41	)	$	128		$	87
Loans		3,400			1,090			4,490
Taxable investment securities		(674	)		1,816			1,142
Tax-exempt investment securities		23			114			137
Interest bearing deposits		714			(235	)		479
Total interest-earning assets		3,422			2,913			6,335

Interest expense:
Savings		(1	)		(2	)		(3	)
NOW deposits		1,984			834			2,818
Money market deposits		(93	)		(172	)		(265	)
Time deposits		808			(1,645	)		(837	)
Short-term borrowings		(4,395	)		(243	)		(4,638	)
Long-term borrowings, FHLB		(863	)		(71	)		(934	)
Total interest-bearing liabilities		(2,560	)		(1,299	)		(3,859	)
Change in net interest income	$	5,982		$	4,212		$	10,194

	Rates +100		Rates +200		Rates +300		Rates -100		Rates -200		Rates -300
	Simulation Results	Policy Limit	Simulation Results	Policy Limit	Simulation Results	Policy Limit	Simulation Results	Policy Limit	Simulation Results	Policy Limit	Simulation Results	Policy Limit
Earnings at risk:
Percent change in net interest income	6.66%	-10.00%	0.46%	-15.00%	-6.07%	-20.00%	16.19%	-10.00%	18.41%	-15.00%	20.51%	-20.00%
Economic value at risk:
Percent change in economic value of equity	-6.96%	-15.00%	-15.14%	-25.00%	-24.11%	-30.00%	3.65%	-15.00%	4.95%	-25.00%	4.95%	-30.00%

Provision for Credit Losses

~~Model results~~A ~~from~~summary ~~the~~of ~~simulation at December 31, 2024 indicated that~~ the ~~Bank~~provision ~~was~~for ~~projected~~credit tolosses ~~see~~for ~~an increase in net interest income over~~the ayears ~~one-year~~ended ~~horizon~~December ~~in any of the rate shock scenarios~~31, ~~with~~2025 ~~the~~and ~~exception of the +300 scenario~~2024, ~~which showed a 6.07% decrease. The percent change in EVE~~ is ~~expected~~as to decrease in all rates up scenarios and increase in all rates down scenarios. All modeled exposures to net interest income and EVE for the next twelve-month horizon are within internal ALCO policy guidelines.follows:

This analysis does not represent a forecast for the Bank and should not be relied upon as being indicative of expected operating results. These simulations are based on numerous assumptions, including but not limited to, the nature and timing of interest rate levels, prepayments on loans and securities, deposit decay rates, pricing decisions on loans and deposits, reinvestment/replacements of asset and liability cash flows, and other factors. While assumptions reflect current economic and local market conditions, the Bank cannot make any assurances as to the predictive nature of these assumptions, including changes in interest rates, customer preferences, competition and liquidity needs, or what actions ALCO might take in responding to these changes.

	For the Years
	Ended December 31,
(In Thousands)	2025		2024
Provision for credit losses:
Loans receivable	$	834	$	847
Off-balance sheet exposures		5		(10	)
Total provision for credit losses	$	839	$	837

33 34

ItFor isthe ~~our~~year ~~opinion~~ended ~~that~~December ~~the~~31, ~~asset/liability~~2025, ~~mix~~there ~~and~~was a provision for credit losses of $839,000, an increase of $2,000 in expense compared to a provision for credit losses of $837,000 for the ~~interest~~year ~~rate~~ended ~~risk~~December ~~associated~~31, ~~with~~2024. The provision for the year ended December 31, 2025 included expense related to loans receivable of $834,000 and expense related to off-balance sheet isexposures ~~within~~of ~~manageable parameters~~$5,000. ~~Additionally,~~The provision for the ~~Bank’s~~year ended December 31, 2024 ~~ALCO~~included ~~meets~~expense ~~quarterly~~related ~~with~~to anloans ~~asset~~receivable ~~liability~~of ~~management~~$847,000 ~~consultant~~and a credit related to off-balance sheet exposures of $10,000.

~~IMPACT~~The OFprovision ~~INFLATION~~amounts for the ~~AND~~years ~~CHANGING~~ended ~~PRICES~~December 31, 2025 and 2024 primarily reflect an increase in volume in the loan portfolio, increases in non-accrual loans which impacted probability of default calculations and changes in qualitative factors related to the nature of the loan portfolio, volume and severity of past due loans, loan grade migration, changes in lending staff, changes in lending policies and procedures and forecasted economic conditions.

~~The preparation~~See ofNotes ~~financial~~1 ~~statements~~and in4 ~~conformity~~within ~~with U.S. GAAP requires management to measure~~ the Corporation’s ~~financial position~~ ~~and~~Notes ~~operating results primarily in terms of historic dollars. Changes in the relative value of money due~~ to ~~inflation or recession are generally not considered. The primary effect of inflation on~~ the ~~Corporation’s~~Consolidated ~~operations~~Financial isStatements ~~primarily~~which related to increases in operating expenses. Management considers changes in interest rates to impact our financial condition and results of operations to a far greater degree than changes in prices due to inflation. Although interest rates are ~~greatly~~included ~~influenced by changes~~ in ~~the~~this ~~inflation~~Annual ~~rate,~~Report ~~they do~~on ~~not~~Form ~~necessarily~~10-K ~~change~~for atmore ~~the~~information ~~same~~regarding ~~rate or in~~ the ~~same magnitude as the inflation rate. The Corporation manages interest rate risk~~ ~~in several ways. There can be no assurance that the~~ Corporation’s ~~will~~allowance ~~not~~for becredit ~~materially~~losses ~~adversely affected by future changes in interest rates,~~ as ~~interest rates are highly sensitive to many factors that are beyond its control. Additionally, inflation may adversely impact the financial condition~~ of ~~the~~December ~~Corporation’s borrowers and could impact their ability to repay their loans~~31, ~~which could negatively affect the Corporation’s asset quality through higher delinquency rates and increased charge-offs~~2025. ~~Management will carefully consider the impact of inflation and rising interest rates on the Corporation’s borrowers in managing credit risk related to the loan portfolio.~~

~~Item~~Non-interest ~~7A. Quantitative and Qualitative Disclosures about Market Risk~~Income

~~The~~Total ~~information~~non-interest ~~called~~income was $10.4 million for each of the years ended December 31, 2025, and 2024. Service charges and fees increased $236,000 due primarily byto ~~this~~higher ~~item~~overdraft ~~can~~fee beincome. ~~found~~Brokerage atincome ~~Item~~and 7trust ofincome ~~this~~increased ~~report~~$131,000 and $168,000, respectively, due primarily to higher assets under management. These changes were offset by realized losses on ~~Form~~available-for-sale 10debt securities, net, which totaled $422,000 for 2025 compared to $85,000 for 2024. The increase in realized losses on available-Kfor-sale ~~under~~debt securities, net, for 2025 was related to a strategic realignment of the ~~caption~~investment ~~“Interest~~portfolio ~~Rate~~to ~~Risk~~enhance ~~Management”~~net ~~and~~interest ismargin ~~incorporated~~in future years. Additionally, other non-interest income decreased $294,000 due to one-time events in ~~its~~the ~~entirety~~first byquarter ~~reference~~2024 ~~under~~including ~~this~~incentives received ~~Item~~in 7Aconjunction with the launch of a debit card reissuance project as well as a governmental grant recorded in conjunction with the completion of a solar energy project.

	For the Years Ended
	December 31, 2025						December 31, 2024						Change
(In Thousands)	Amount			% Total			Amount			% Total			Amount			%
Service charges and fees	$	2,968			28.6	%	$	2,732			26.3	%	$	236			8.6	%
Interchange fees		2,641			25.5			2,640			25.4			1			0.0
Gain on sale of loans		503			4.9			413			4.0			90			21.8
Earnings on bank-owned life insurance		925			8.9			928			8.9			(3	)		(0.3	)
Brokerage		938			9.1			807			7.8			131			16.2
Trust		1,111			10.7			943			9.1			168			17.8
Gains on marketable equity securities		56			0.5			60			0.6			(4	)		(6.7	)
Realized losses on available-for-sale debt securities, net		(422	)		(4.1	)		(85	)		(0.8	)		(337	)		396.5
Other non-interest income		1,643			15.9			1,937			18.7			(294	)		(15.2	)
Total non-interest income	$	10,363			100.0	%	$	10,375			100.0	%	$	(12	)		(0.1	)%

~~Item~~Non-interest ~~8. Financial Statements and Supplementary Data~~Expense

~~Muncy~~Total ~~Columbia~~non-interest ~~Financial~~expense increased $3.4 million or 8.9% from $37.7 million for the year ended December 31, 2024, to $41.0 million for the year ended December 31, 2025. Salaries and employee benefits expense of $21.7 million for the year ended December 31, 2025 increased $2.6 million from $19.2 million for the same period of 2024. The Corporation recorded one-time pretax expenses totaling $1.3 million in conjunction with the retirement of its Executive Chairman during the year ended December 31, 2025. Additionally, health insurance expenses associated with the Corporation’s partially self-funded health insurance plan were $704,000 higher in the year ended December 31, 2025 than the same period of 2024. In addition to the increase in salaries and employee benefits expense, Pennsylvania shares tax expense increased $298,000 or 31.7% due to increased capital levels, professional fees increased $417,000, due primarily to higher overall marketing and advertising costs as well as higher foreclosure and loan workout expenses. These increases were partially offset by decreases in merger-related expenses of $241,000 and amortization of intangibles of $179,000 due to lower core deposit intangible amortization in 2025.

~~Consolidated~~One ~~Balance~~standard ~~Sheets~~to measure non-interest expense is to express annualized non-interest expense as a percentage of average total assets. For the year ended December 31, 2025 this percentage was 2.52% compared to 2.36% for the year ended December 31, 2024.

	December 31,
(In Thousands, Except Share and Per Share Data)	2024			2023
ASSETS
Cash and due from banks	$	11,200		$	14,614
Interest-bearing deposits in other banks		6,180			3,763
Total cash and cash equivalents		17,380			18,377
Interest-bearing time deposits		—			979
Available-for-sale debt securities, at fair value		323,248			413,302
Marketable equity securities, at fair value		1,355			1,295
Restricted investment in bank stocks, at cost		7,095			10,394
Loans held for sale		1,691			366
Loans receivable		1,125,937			1,068,429
Allowance for credit losses		(9,858	)		(9,302	)
Loans, net		1,116,079			1,059,127
Premises and equipment, net		26,484			27,569
Foreclosed assets held for sale		70			170
Accrued interest receivable		4,850			5,362
Bank-owned life insurance		40,953			40,209
Investment in limited partnerships		5,092			5,828
Deferred tax asset, net		10,012			12,634
Goodwill		25,609			25,609
Other intangible assets, net		10,047			11,895
Other assets		5,993			6,663
TOTAL ASSETS	$	1,595,958		$	1,639,779
LIABILITIES
Interest-bearing deposits	$	1,032,729		$	884,654
Noninterest-bearing deposits		259,700			266,015
Total deposits		1,292,429			1,150,669
Short-term borrowings		68,388			252,532
Long-term borrowings		55,536			70,448
Accrued interest payable		1,857			2,358
Other liabilities		11,338			9,947
TOTAL LIABILITIES		1,429,548			1,485,954
STOCKHOLDERS’ EQUITY
Common stock, par value $1.25 per share; 15,000,000 shares authorized; issued 3,841,438 and outstanding 3,532,713 at December 31, 2024; issued 3,834,976 and outstanding 3,570,276 at December 31, 2023;		4,802			4,794
Additional paid-in capital		83,543			83,343
Retained earnings		103,268			90,514
Accumulated other comprehensive loss		(13,896	)		(15,036	)
Treasury stock, at cost; 308,725 shares at December 31, 2024 and 264,700 shares at December 31, 2023		(11,307	)		(9,790	)
TOTAL STOCKHOLDERS’ EQUITY		166,410			153,825
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	1,595,958		$	1,639,779

See accompanying notes to the consolidated financial statements.

	For the Years Ended
	December 31, 2025					December 31, 2024					Change
(In Thousands)	Amount		% Total			Amount		% Total			Amount		%
Salaries and employee benefits	$	21,720		52.9	%	$	19,167		50.9	%	$	2,553		13.3	%
Occupancy		2,623		6.4			2,459		6.5			164		6.7
Furniture and equipment		1,704		4.2			1,665		4.4			39		2.3
Pennsylvania shares tax		1,239		3.0			941		2.5			298		31.7
Professional fees		1,939		4.7			1,522		4.0			417		27.4
Director's fees		695		1.7			618		1.6			77		12.5
Federal deposit insurance		870		2.1			820		2.2			50		6.1
Data processing and telecommunications		3,645		8.9			3,595		9.5			50		1.4
Automated teller machine and interchange		779		1.9			671		1.8			108		16.1
Merger-related expenses		—		—			241		0.6

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