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Other Real Estate Owned
 12 Months Ended
Dec. 31, 2024
Real Estate [Abstract]  
Other Real Estate Owned

Note 7—Other Real Estate Owned

The following table presents the change in OREO for the years ended December 31, 2024, 2023, and 2022:

 

 

2024

 

 

2023

 

 

2022

 

Beginning balance

 

$

1,200

 

 

$

4,717

 

 

$

2,112

 

Net additions to OREO

 

 

5,205

 

 

 

571

 

 

 

3,343

 

Proceeds from sales of OREO

 

 

(1,207

)

 

 

(3,580

)

 

 

(491

)

Gains (losses) on sales of OREO

 

 

(28

)

 

 

(81

)

 

 

78

 

Valuation adjustments

 

 

—

 

 

 

(427

)

 

 

(325

)

Ending balance

 

$

5,170

 

 

$

1,200

 

 

$

4,717

 

At December 31, 2024 and 2023, the balance of real estate owned did not include any foreclosed residential real estate properties recorded as a result of obtaining physical possession of the property.

At December 31, 2024 and 2023, there were $818,000 and $27,000 of consumer mortgage loans secured by residential real estate properties in foreclosure.

There were no internally financed sales of OREO for the year ended December 31, 2024, 2023, or 2022.