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ECONOMIC INFORMATION <br />During both its November and December meetings, the Federal Open Market Committee (FOMC) <br />cut rates by 25bp, taking interest rates to a target range of 4.25-4.75%, and totaling 100bp in cuts <br />since September. This decision from the FOMC was in response to data they characterized as <br />showing "economic activity has continued to expand at a solid pace." The data showed labor <br />market conditions easing, an uptick in the unemployment rate, and progress in inflation moving <br />towards their target of 2%. The FOMC continued to feel the economy was moving in the right <br />direction, deciding at their January meeting to hold rates steady as they continued to monitor <br />inflation. <br />INVESTMENT MATURITIES <br />As of December 31, 2024, the investments portfolio book value was $678,669,657 with a market <br />value of $681,701,736. Of the $678,669,657 portfolio total, investments are maturing as follows: <br />$450,000,000 <br />$420,205,153 <br />$400,000,000 <br />$350,000,000 <br />$250,000,000 <br />$200,000,000 <br />$150,927,753 <br />$150,000,000 <br />$100,000,000 <br />$50,000,000 <br />$0. Now_ <br />0-12 Months <br />13-24 Months <br />81 <br />