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Other Real Estate Owned

12 Months Ended

Dec. 31, 2023

Real Estate [Abstract]

Other Real Estate Owned

Other Real Estate Owned

The activity within OREO for the years ended December 31, 2023 and 2022 is presented in the table below. There were no properties in the process of foreclosure as of December 31, 2023 and 2022. For the years ended December 31, 2023 and 2022, there were two and one sales of OREO, respectively.

						Years Ended December 31,
(dollars in thousands)						2023						2022
Beginning Balance						$	1,962					$	1,635
Real estate acquired from borrowers						—						475
Properties sold						(854)						(148)
Ending Balance						$	1,108					$	1,962

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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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