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Real Estate Owned (Tables) | 12 Months Ended
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Dec. 31, 2023
Repossessed Assets [Abstract] |
Summary of Activity in Balance of Real Estate Owned | A summary of the activity in the balance of real estate owned follows:
| Year ended December 31,
(in thousands) | 2023 |  | 2022
Beginning balance, net | $ | 3,439 |  |  | $ | 2,594 |
Additions/transfers from loans | 155 |  |  | 1,349 |
Dispositions/sales | (206) |  |  | (707) |
Valuation adjustments | (683) |  |  | 203 |
Ending balance, net | $ | 2,705 |  |  | $ | 3,439 |
Ending valuation allowance | $ | (739) |  |  | $ | (113) |
Ending number of foreclosed assets | 9 |  |  | 9 |
Proceeds from sale of real estate owned | $ | 224 |  |  | $ | 873 |
Gain on sale of real estate owned | $ | 19 |  |  | $ | 166 |

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- Definition Summary of the activity in the balance of foreclosed assets. + References No definition available. + Details
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