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Other Real Estate Owned
 12 Months Ended
Dec. 31, 2023
Other Real Estate Owned  
Other Real Estate Owned

Note 10 Other Real Estate Owned

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A summary of the activity in OREO during 2023 and 2022 is as follows:

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For the years ended December 31, 

​

2023

​

2022

Beginning balance

$

3,731

    

$

7,005

Transfers from loan portfolio, at fair value

 

1,207

​

 

147

Impairments

 

(249)

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(505)

Sales

 

(601)

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(2,916)

Ending balance

$

4,088

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$

3,731

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During the years ended December 31, 2023 and 2022, the Company sold OREO properties with net book balances of $0.6 million and $2.9 million, respectively. Sales of OREO properties resulted in net losses of $20 thousand and net gains of $0.6 million which were included within other non-interest expense in the consolidated statements of operations for the years ended December 31, 2023 and 2022, respectively. During the year ended December 31, 2023, impairments totaled $0.2 million recorded within other non-interest expense in the consolidated statements of operations. During the year ended December 31, 2022, impairments included $279 thousand recorded within other non-interest expense in the consolidated statements of operations and $226 thousand included within other liabilities in the statements of financial condition to reduce the payable for an SBA redemption agreement.