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REAL ESTATE OWNED, HELD FOR SALE, NET

12 Months Ended

Dec. 31, 2022

Real Estate [Abstract]

REAL ESTATE OWNED, HELD FOR SALE, NET

The following table presents the changes in REO, net of valuation allowance, for the years ended December 31, 2022, 2021 and 2020 (in thousands):

			Years Ended December 31
			2022						2021						2020
Balance, beginning of period			$	852					$	816					$	814
Additions from loan foreclosures			—						512						1,588
Proceeds from dispositions of REO			(864)						(783)						(2,360)
Gain on sale of REO			352						307						819
Valuation adjustments in the period			—						—						(45)
Balance, end of period			$	340					$	852					$	816

The Company had no foreclosed residential real estate properties held as REO at both December 31, 2022 and December 31, 2021. The recorded investment in one- to four-family residential loans in the process of foreclosure was $1.1 million and $609,000 at December 31, 2022 and December 31, 2021, respectively.

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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 https://asc.fasb.org/extlink&oid=124259787&loc=d3e4437-111522

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