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OTHER REAL ESTATE OWNED AND REPOSSESSIONS

12 Months Ended

Dec. 31, 2024

OTHER REAL ESTATE OWNED AND REPOSSESSIONS

OTHER REAL ESTATE OWNED AND REPOSSESSIONS

Note 4:      Other Real Estate Owned and Repossessions

Major classifications of other real estate owned at December 31, 2024 and 2023, were as follows:

​

​	​	​	​	​	​	​
​		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	​		5,960	​		—
Commercial business	​		—	​		—
Consumer	​		33	​		23
​	​	​	​	​	​	​
Foreclosed assets held for sale and repossessions	​		5,993	​		23
​	​	​	​	​	​	​
Other real estate owned not acquired through foreclosure	​		—	​		—
​	​	​	​	​	​	​
Other real estate owned and repossessions	​	$	5,993	​	$	23

​

At December 31, 2024 and 2023, there was no other real estate owned not acquired through foreclosure.

At December 31, 2024 and 2023, residential mortgage loans totaling $12,000 and $-0-, respectively, were in the process of foreclosure.

Expense (income) applicable to other real estate owned and repossessions for the years ended December 31, 2024, 2023 and 2022, included the following:

​

​	​	​	​	​	​	​	​	​	​
​		2024			2023			2022
​	​	(In Thousands)
​	​	​	​	​	​	​	​	​	​
Net gains on sales of other real estate owned and repossessions	​	$	(496)	​	$	(42)	​	$	(149)
Valuation write-downs	​		—	​		81	​		23
Operating expenses, net of rental income	​		192	​		272	​		485
​	​	​	​	​	​	​	​	​	​
​	​	$	(304)	​	$	311	​	$	359

​

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- References

No definition available.

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- 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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