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Other Real Estate Owned
 3 Months Ended
Mar. 31, 2023
Other Real Estate Owned  
Other Real Estate Owned

Note 7 Other Real Estate Owned

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A summary of the activity in other real estate owned (“OREO”) during the three months ended March 31, 2023 and 2022 is as follows:

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​

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For the three months ended March 31, 

​

2023

​

2022

Beginning balance

$

3,731

    

$

7,005

Transfers from loan portfolio, at fair value

 

—

​

 

39

Impairments

 

(13)

​

 

(188)

Sales

 

(260)

​

 

(1,793)

Ending balance

$

3,458

​

$

5,063

​

During the three months ended March 31, 2023 and 2022, the Company sold OREO properties with net book balances of $0.3 million and $1.8 million, respectively. Sales of OREO properties resulted in net OREO losses of $11 thousand and net OREO gains of $275 thousand, which were included within other non-interest expense in the consolidated statements of operations for the three months ended March 31, 2023 and 2022, respectively.