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OTHER REAL ESTATE OWNED (OREO) (Tables)
 9 Months Ended
Sep. 30, 2025
OTHER REAL ESTATE OWNED (OREO) [Abstract]  
Other Real Estate Owned [Table Text Block]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The following table presents the OREO inventory as of the indicated dates:
September 30, 2025
December 31, 2024
(In thousands)
OREO balances, carrying value:
Residential
(1)
$
8,347
$
12,897
Construction
435
522
Commercial
(2)
561
3,887
Total
$
9,343
$
17,306
(1)
Excludes $
3.8
 
million and $
5.2
 
million as of September
 
30, 2025 and December
 
31, 2024, 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.
(2)
During the third quarter of 2025, the Corporation
 
recorded a $
2.8
 
million valuation adjustment in connection with
 
ongoing litigation involving a commercial
 
OREO property in the Virgin
Islands region. See Note 19 – “Regulatory Matters, Commitments
 
and Contingencies” for further details.