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OTHER REAL ESTATE OWNED AND REPOSSESSIONS

9 Months Ended

Sep. 30, 2024

OTHER REAL ESTATE OWNED AND REPOSSESSIONS

OTHER REAL ESTATE OWNED AND REPOSSESSIONS

NOTE 8: OTHER REAL ESTATE OWNED AND REPOSSESSIONS

Major classifications of other real estate owned were as follows:

​

​	​	​	​	​	​	​
​		September 30,			December 31,
​	​	2024		​	2023
​	​	(In Thousands)
Foreclosed assets held for sale and repossessions		​			​
One- to four-family construction	​	$	—	​	$	—
Subdivision construction	​		—	​		—
Land development	​		—	​		—
Commercial construction	​		—	​		—
One- to four-family residential	​		—	​		—
Other residential	​		—	​		—
Commercial real estate	​		230	​		—
Commercial business	​		—	​		—
Consumer	​		33	​		23
Total foreclosed assets held for sale and repossessions	​		263	​		23
​	​	​	​	​	​	​
Other real estate owned not acquired through foreclosure	​		—	​		—
​	​	​	​	​	​	​
Other real estate owned and repossessions	​	$	263	​	$	23

​

At September 30, 2024 and December 31, 2023, no residential mortgage loans were in the process of foreclosure.

Expenses applicable to other real estate owned and repossessions included the following:

​

​	​	​	​	​	​	​
​		Three Months Ended
​	​	September 30,
​	​	2024			2023
​	​	(In Thousands)
Net (gains) on sales of other real estate owned and repossessions	​	$	(459)	​	$	(22)
Valuation write-downs	​		—	​	​	—
Operating expenses, net of rental income	​		(77)	​	​	84
​	​	$	(536)	​	$	62

​

​	​	​	​	​	​	​
​	​	Nine Months Ended
​	​	September 30,
​		2024			2023
​	​	(In Thousands)
Net (gains) on sales of other real estate owned and repossessions	​	$	(491)	​	$	(41)
Valuation write-downs	​		—	​	​	82
Operating expenses, net of rental income	​		301	​	​	222
​	​	$	(190)	​	$	263

​

X

- References

No definition available.

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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

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