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Foreclosed Real Estate

12 Months Ended

Dec. 31, 2020

Foreclosed Real Estate [Abstract]

Foreclosed Real Estate

NOTE 8 — FORECLOSED REAL ESTATE

The following tables present the activity related to foreclosed real estate for the years ended December 31, 2020, 2019 and 2018:

	Year Ended December 31,
	2020			2019			2018
	(In thousands)
Balance at beginning of year	$	29,909		$	33,768		$	44,174
Additions		3,654			22,406			20,011
Sales		(18,521)			(20,642)			(24,660)
Decline in value		(2,489)			(4,762)			(5,757)
Other adjustments		(957)			(861)			-
Balance at end of year	$	11,596		$	29,909		$	33,768

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- References

No definition available.

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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 http://asc.fasb.org/extlink&oid=121593590&loc=d3e4437-111522

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