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Loans Held for Sale

9 Months Ended

Sep. 30, 2022

6. Loans held for sale

Loans held for sale are carried at the lower of cost or estimated fair value. At September 30, 2022 and December 31, 2021, the Bank did not have any loans held for sale.

The following table shows loans sold during the periods indicated:


	For the three months ended September 30, 2022
				Net
(Dollars in thousands)	Loans sold	Proceeds		charge-offs		Net gain
Performing loans
Multi-family residential	1	$	10,682	$	—	$	—
Total	1	$	10,682	$	—	$	—


	For the three months ended September 30, 2021
				Net
(Dollars in thousands)	Loans sold	Proceeds		charge-offs		Net gain
Delinquent and non-performing loans
Multi-family residential	2	$	1,316	$	—	$	15
Commercial real estate	1	$	4,344	$	—	$	87
One-to-four family - mixed-use property	3		723		—		29
Total	6	$	6,383	$	—	$	131


	For the nine months ended September 30, 2022
(Dollars in thousands)	Loans sold	Proceeds		Net charge-offs		Net gain
Performing loans
Multi-family residential	5	$	20,818	$	—	$	—
Commercial	1		4,312		—		—
Total	6	$	25,130	$	—	$	—

Delinquent and non-performing loans
Commercial	1		3,687		—		73
One-to-four family - mixed-use property	1		430		—		—
Total	2	$	4,117	$	—	$	73


	For the nine months ended September 30, 2021
(Dollars in thousands)	Loans sold	Proceeds		Net charge-offs		Net gain
Delinquent and non-performing loans
Multi-family residential	10	$	12,069	$	(43)	$	78
Commercial	4		7,380		(64)		104
One-to-four family - mixed-use property	13		5,518		(14)		107
Total	27	$	24,967	$	(121)	$	289