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Other real estate owned

6 Months Ended

Jun. 30, 2022

Other Real Estate [Abstract]

Other Real Estate Owned

Note 11 – Other real estate ownedThe following tables present the activity related to Other Real Estate Owned (“OREO”), for the quarters and six months ended June 30, 2022 and 2021.

		For the quarter ended June 30, 2022
		OREO		OREO
(In thousands)		Commercial/Construction		Mortgage		Total
Balance at beginning of period	$	15,468	$	75,099	$	90,567
Write-downs in value		(486)		(245)		(731)
Additions		832		20,663		21,495
Sales		(1,564)		(17,502)		(19,066)
Other adjustments		-		(128)		(128)
Ending balance	$	14,250	$	77,887	$	92,137

		For the quarter ended June 30, 2021
		OREO		OREO
(In thousands)		Commercial/Construction		Mortgage		Total
Balance at beginning of period	$	15,085	$	56,975	$	72,060
Write-downs in value		(157)		(549)		(706)
Additions		2,125		17,067		19,192
Sales		(2,653)		(14,519)		(17,172)
Other adjustments		181		(283)		(102)
Ending balance	$	14,581	$	58,691	$	73,272

		For the six months ended June 30, 2022
		OREO		OREO
(In thousands)		Commercial/Construction		Mortgage		Total
Balance at beginning of period	$	15,017	$	70,060	$	85,077
Write-downs in value		(850)		(573)		(1,423)
Additions		3,519		39,903		43,422
Sales		(3,544)		(31,045)		(34,589)
Other adjustments		108		(458)		(350)
Ending balance	$	14,250	$	77,887	$	92,137

		For the six months ended June 30, 2021
		OREO		OREO
(In thousands)		Commercial/Construction		Mortgage		Total
Balance at beginning of period	$	13,214	$	69,932	$	83,146
Write-downs in value		(464)		(1,519)		(1,983)
Additions		5,975		18,940		24,915
Sales		(4,325)		(28,379)		(32,704)
Other adjustments		181		(283)		(102)
Ending balance	$	14,581	$	58,691	$	73,272

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- References

No definition available.

+ Details

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- Definition

The entire disclosure for real estate owned (as defined). Generally, the largest component of real estate owned by lenders is assets taken in settlement of troubled loans through surrender or foreclosure. Real estate investments, real estate loans that qualify as investments in real estate, and premises that are no longer used in operations may also be included in real estate owned.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=124259787&loc=d3e4437-111522

+ Details

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