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FORECLOSED ASSETS | 6 Months Ended
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Jun. 30, 2023
FORECLOSED ASSETS |
FORECLOSED ASSETS | NOTE 6 – FORECLOSED ASSETS Foreclosed assets activity is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended June 30, | ​ | Six Months Ended June 30, | ​
​ |  | 2023 |  | 2022 |  | 2023 |  | 2022 |
​ | ​ | (dollars in thousands) | ​
Beginning balance | ​ | $ | 3,356 | ​ | $ | 3,043 | ​ | $ | 3,030 | ​ | $ | 3,278 | ​
Acquired | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 271 | ​ | ​ | — | ​
Transfers from loans | ​ | ​ | 65 | ​ | ​ | 8 | ​ | ​ | 170 | ​ | ​ | 27 | ​
Proceeds from sales | ​ | ​ | (244) | ​ | ​ | (153) | ​ | ​ | (284) | ​ | ​ | (447) | ​
Net gain (loss) on sales | ​ | ​ | 48 | ​ | ​ | (7) | ​ | ​ | 68 | ​ | ​ | 98 | ​
Direct write-downs | ​ | ​ | (145) | ​ | ​ | — | ​ | ​ | (175) | ​ | ​ | (65) | ​
Ending balance | ​ | $ | 3,080 | ​ | $ | 2,891 | ​ | $ | 3,080 | ​ | $ | 2,891 | ​
​ Gains (losses) on foreclosed assets includes the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended June 30, | ​ | Six Months Ended June 30, | ​
​ |  | 2023 |  | 2022 |  | 2023 |  | 2022 |
​ | ​ | (dollars in thousands) | ​
Direct write-downs | ​ | $ | (145) | ​ | $ | — | ​ | $ | (175) | ​ | $ | (65) | ​
Net gain (loss) on sales | ​ | ​ | 48 | ​ | ​ | (7) | ​ | ​ | 68 | ​ | ​ | 98 | ​
Gains (losses) on foreclosed assets | ​ | $ | (97) | ​ | $ | (7) | ​ | $ | (107) | ​ | $ | 33 | ​
​ The carrying value of foreclosed one-to-four family residential real estate properties held was $0.2 million and $20 thousand as of June 30, 2023 and December 31, 2022, respectively. As of June 30, 2023, there were 16 one-to-four family residential real estate loans in the process of foreclosure totaling $1.4 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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