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Other real estate owned | 6 Months Ended
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Jun. 30, 2024
Other Real Estate [Abstract] |
Other Real Estate Owned | Note 11 – Other real estate owned The following tables present the activity related to Other Real Estate Owned (“OREO”), for the quarters and six months ended June 30, 2024 and 2023. For the quarter ended June 30, 2024 OREO OREO (In thousands) Commercial/Construction Mortgage Total Balance at beginning of period $ 15,962 $ 64,580 $ 80,542 Write-downs in value (1,039) (427) (1,466) Additions 516 12,146 12,662 Sales (6,011) (15,502) (21,513) Ending balance $ 9,428 $ 60,797 $ 70,225 For the quarter ended June 30, 2023 OREO OREO (In thousands) Commercial/Construction Mortgage Total Balance at beginning of period $ 12,388 $ 79,333 $ 91,721 Write-downs in value (45) (269) (314) Additions 244 21,155 21,399 Sales (785) (25,822) (26,607) Other adjustments 17 - 17 Ending balance $ 11,819 $ 74,397 $ 86,216 For the six months ended June 30, 2024 OREO OREO (In thousands) Commercial/Construction Mortgage Total Balance at beginning of period $ 11,189 $ 69,227 $ 80,416 Write-downs in value (1,064) (711) (1,775) Additions 5,860 24,782 30,642 Sales (6,557) (32,436) (38,993) Other adjustments - (65) (65) Ending balance $ 9,428 $ 60,797 $ 70,225 For the six months ended June 30, 2023 OREO OREO (In thousands) Commercial/Construction Mortgage Total Balance at beginning of period $ 12,500 $ 76,626 $ 89,126 Write-downs in value (239) (1,020) (1,259) Additions 1,267 39,830 41,097 Sales (1,726) (40,921) (42,647) Other adjustments 17 (118) (101) Ending balance $ 11,819 $ 74,397 $ 86,216

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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 -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481990/310-10-45-3 + Details
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