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v3.22.2.2

FORECLOSED ASSETS | 9 Months Ended
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Sep. 30, 2022
FORECLOSED ASSETS |
FORECLOSED ASSETS | NOTE 6 – FORECLOSED ASSETS Foreclosed assets activity is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended September 30, | ​ | Nine Months Ended September 30,
​ |  | 2022 |  | 2021 |  | 2022 |  | 2021
​ | ​ | (dollars in thousands)
Beginning balance | ​ | $ | 2,891 | ​ | $ | 7,757 | ​ | $ | 3,278 | ​ | $ | 4,168
Transfers from loans | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 27 | ​ | ​ | 4,856
Proceeds from sales | ​ | ​ | (29) | ​ | ​ | (354) | ​ | ​ | (476) | ​ | ​ | (1,583)
Sales through loan origination | ​ | ​ | — | ​ | ​ | (74) | ​ | ​ | — | ​ | ​ | (252)
Net gain on sales | ​ | ​ | 20 | ​ | ​ | 108 | ​ | ​ | 118 | ​ | ​ | 321
Direct write-downs | ​ | ​ | (245) | ​ | ​ | (122) | ​ | ​ | (310) | ​ | ​ | (195)
Ending balance | ​ | $ | 2,637 | ​ | $ | 7,315 | ​ | $ | 2,637 | ​ | $ | 7,315
​ Gains (losses) on foreclosed assets includes the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended September 30, | ​ | Nine Months Ended September 30,
​ |  | 2022 |  | 2021 |  | 2022 |  | 2021
​ | ​ | (dollars in thousands)
Direct write-downs | ​ | $ | (245) | ​ | $ | (122) | ​ | $ | (310) | ​ | $ | (195)
Net gain on sales | ​ | ​ | 20 | ​ | ​ | 108 | ​ | ​ | 118 | ​ | ​ | 321
Gains (losses) on foreclosed assets | ​ | $ | (225) | ​ | $ | (14) | ​ | $ | (192) | ​ | $ | 126
​ There were no foreclosed one-to-four family residential real estate properties held as of September 30, 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 September 30, 2022, there were 4 one-to-four family residential real estate loans in the process of foreclosure totaling $0.4 million. 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 https://asc.fasb.org/subtopic&trid=2196772 + Details
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- References No definition available. + Details
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