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Other Real Estate Owned | 9 Months Ended
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Sep. 30, 2024
Real Estate [Abstract] |
Other Real Estate Owned | Other real estate owned The amount reported as other real estate owned includes property acquired through foreclosure in addition to excess facilities held for sale and is carried at the lower of the carrying amount of the underlying loan or the fair value of the real estate less costs to sell. The following table summarizes the other real estate owned for the three and nine months ended September 30, 2024 and 2023:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2024 |  | 2023 |  | 2024 |  | 2023 |  |
Balance at beginning of period |  | $ | 4,173 |  |  | $ | 1,974 |  |  | $ | 3,192 |  |  | $ | 5,794 |  |  |
Transfers from loans |  | — |  |  | 64 |  |  | 2,400 |  |  | 657 |  |  |
Transfers to other assets |  | — |  |  | (75) |  |  | — |  |  | (75) |  |  |
Proceeds from sale of other real estate owned |  | (412) |  |  | (537) |  |  | (1,846) |  |  | (5,692) |  |  |
Gain on sale of other real estate owned |  | 18 |  |  | 93 |  |  | 33 |  |  | 835 |  |  |
Write-downs and partial liquidations |  | — |  |  | (15) |  |  | — |  |  | (15) |  |  |
Balance at end of period |  | $ | 3,779 |  |  | $ | 1,504 |  |  | $ | 3,779 |  |  | $ | 1,504 |  |  |
Included within the other real estate owned balance above, foreclosed residential real estate properties totaled $2,651 and $2,414 as of September 30, 2024 and December 31, 2023, respectively. The recorded investment in residential mortgage loans secured by residential real estate properties for which foreclosure proceedings are in process totaled $6,203 and $3,377 as of September 30, 2024 and December 31, 2023, respectively.

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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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