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FORECLOSED ASSETS | 3 Months Ended
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Mar. 31, 2022
FORECLOSED ASSETS |
FORECLOSED ASSETS | NOTE 6 – FORECLOSED ASSETS Foreclosed assets activity is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended March 31,
​ |  | 2022 |  | 2021
​ | ​ | (dollars in thousands)
Beginning balance | ​ | $ | 3,278 | ​ | $ | 4,168
Transfers from loans | ​ | ​ | 19 | ​ | ​ | 671
Proceeds from sales | ​ | ​ | (294) | ​ | ​ | (15)
Net gain (loss) on sales | ​ | ​ | 105 | ​ | ​ | (3)
Direct write-downs | ​ | ​ | (65) | ​ | ​ | (73)
Ending balance | ​ | $ | 3,043 | ​ | $ | 4,748
​ Gains (losses) on foreclosed assets includes the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended March 31,
​ |  | 2022 |  | 2021
​ | ​ | (dollars in thousands)
Direct write-downs | ​ | $ | (65) | ​ | $ | (73)
Net gain (loss) on sales | ​ | ​ | 105 | ​ | ​ | (3)
Gains (losses) on foreclosed assets | ​ | $ | 40 | ​ | $ | (76)
​ There were no foreclosed one-to-four family residential real estate properties held as of March 31, 2022. The carrying value of foreclosed one-to-four family residential real estate properties held as of December 31, 2021 was $0.2 million. As of March 31, 2022, there was 1 one-to-four family residential real estate loan in the process of foreclosure totaling $18 thousand. As of December 31, 2021, there were 4 one-to-four family residential real estate loans in the process of foreclosure totaling $0.1 million.

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- Definition Disclosure of accounting policy for real estate acquired through foreclosure. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2196772 + Details
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- References No definition available. + Details
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