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FORECLOSED ASSETS | 3 Months Ended
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Mar. 31, 2023
FORECLOSED ASSETS |
FORECLOSED ASSETS | NOTE 6 – FORECLOSED ASSETS Foreclosed assets activity is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended March 31,
​ |  | 2023 |  | 2022
​ | ​ | (dollars in thousands)
Beginning balance | ​ | $ | 3,030 | ​ | $ | 3,278
Acquired | ​ | ​ | 271 | ​ | ​ | —
Transfers from loans | ​ | ​ | 105 | ​ | ​ | 19
Proceeds from sales | ​ | ​ | (40) | ​ | ​ | (294)
Net gain on sales | ​ | ​ | 20 | ​ | ​ | 105
Direct write-downs | ​ | ​ | (30) | ​ | ​ | (65)
Ending balance | ​ | $ | 3,356 | ​ | $ | 3,043
​ Gains (losses) on foreclosed assets includes the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended March 31,
​ |  | 2023 |  | 2022
​ | ​ | (dollars in thousands)
Direct write-downs | ​ | $ | (30) | ​ | $ | (65)
Net gain on sales | ​ | ​ | 20 | ​ | ​ | 105
Gains (losses) on foreclosed assets | ​ | $ | (10) | ​ | $ | 40
​ The carrying value of foreclosed one-to-four family residential real estate properties held was $0.3 million and $20 thousand as of March 31, 2023 and December 31, 2022, respectively. As of March 31, 2023, there were 14 one-to-four family residential real estate loans in the process of foreclosure totaling $1.1 million. As of December 31, 2022, there were 4 one-to-four family residential real estate loans in the process of foreclosure totaling $0.2 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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