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OTHER REAL ESTATE OWNED
 6 Months Ended
Jun. 30, 2023
OTHER REAL ESTATE OWNED [Abstract]  
OTHER REAL ESTATE OWNED
NOTE 5
–
OTHER REAL ESTATE
 
OWNED
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The following table presents the OREO inventory as of the indicated dates:
June 30, 2023
December 31, 2022
(In thousands)
OREO balances, carrying value:
Residential
(1)
$
23,621
$
24,025
Construction
1,892
1,764
Commercial
6,058
5,852
Total
$
31,571
$
31,641
(1)
Excludes $
20.9
 
million and $
23.5
 
million as
 
of June 30,
 
2023 and December
 
31, 2022, respectively,
 
of foreclosures that
 
met the
 
conditions of ASC
 
Subtopic 310-40
 
“Reclassification of
Residential Real
 
Estate Collateralized
 
Consumer Mortgage
 
Loans upon
 
Foreclosure,” and
 
are presented
 
as a
 
receivable as
 
part of
 
other assets
 
in the
 
consolidated statements
 
of financial
condition.
See Note
 
18 -
 
Fair Value
 
for information
 
on write-downs
 
recorded on
 
OREO properties
 
during the
 
quarters and
 
six-month periods
ended June 30, 2023 and 2022.