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Other Real Estate Owned

6 Months Ended

Jun. 30, 2024

Other Real Estate Owned

Other Real Estate Owned

Note 4 – Other Real Estate Owned

​

Details related to the activity in the other real estate owned (“OREO”) portfolio, net of valuation reserve, for the periods presented are itemized in the following table:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​

Six Months Ended

​

June 30,

June 30,

Other real estate owned

2024

2023

2024

2023

​

Balance at beginning of period

​

$

5,123

​

$

1,255

​

$

5,123

​

$

1,561

​

Property additions, net of acquisition adjustments

​

​

3,388

​

​

185

​

​

3,388

​

​

476

​

Less:

​

​

​

​

​

​

​

​

​

​

​

​

​

Proceeds from property disposals, net of participation purchase and gains/losses

​

​

1,591

​

​

679

​

​

1,591

​

​

1,007

​

Period valuation write-down

​

​

-

​

​

-

​

​

-

​

​

269

​

Balance at end of period

​

$

6,920

​

$

761

​

$

6,920

​

$

761

​

​

Activity in the valuation allowance was as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​

Six Months Ended

​

June 30,

June 30,

​

2024

2023

2024

2023

Balance at beginning of period

​

$

118

​

$

853

​

$

118

​

$

856

​

Provision for unrealized losses

​

​

-

​

​

-

​

​

-

​

​

269

​

Reductions taken on sales

​

​

-

​

​

(739)

​

​

-

​

​

(1,011)

​

Balance at end of period

​

$

118

​

$

114

​

$

118

​

$

114

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Expenses related to OREO, net of lease revenue, includes:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​

Six Months Ended

​

​

June 30,

June 30,

​

2024

2023

2024

2023

​

Gain on sales, net

​

$

(259)

​

$

(186)

​

$

(259)

​

$

(158)

​

Provision for unrealized losses

​

​

-

​

​

-

​

​

-

​

​

269

​

Operating expenses

​

​

239

​

​

92

​

​

352

​

​

101

​

Less:

​

​

​

​

​

​

​

​

​

​

​

​

​

Lease revenue

​

​

67

​

​

4

​

​

134

​

​

4

​

Net OREO expense

​

$

(87)

​

$

(98)

​

$

(41)

​

$

208

​

​

X

- References

No definition available.

+ Details

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Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481990/310-10-45-3

+ Details

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Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration