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Note 7 - Other Real Estate Owned | 12 Months Ended
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Dec. 31, 2021
Notes to Financial Statements |
Real Estate Owned [Text Block] | Note 7 – Other Real Estate Owned Other real estate owned represents residential and commercial properties primarily owned as a result of loan collection activities and is reported net of a valuation allowance. Activity within other real estate owned was as follows:
(Dollars in thousands) |  | 2021 |  |  | 2020 |  |  | 2019 |
Balance, beginning of year |  | $ | 266 |  |  | $ | 929 |  |  | $ | 102 |
Transfers from loans |  |  | 520 |  |  |  | 391 |  |  |  | 347 |
Additions from merger |  |  | - |  |  |  | 346 |  |  |  | 1,364 |
Proceeds from sales |  |  | (611 | ) |  |  | (1,384 | ) |  |  | (938 | )
Write-downs |  |  | - |  |  |  | (80 | ) |  |  | - |
Gains on sales |  |  | 19 |  |  |  | 64 |  |  |  | 54 |
Balance, end of year |  | $ | 194 |  |  | $ | 266 |  |  | $ | 929 |
Included in the balances above were residential real estate mortgage loans of $80,000, $61,000, and $175,000 as of December 31, 2021, 2020, and 2019, respectively, and $114,000, $205,000, and $754,000 of commercial real estate loans as of December 31, 2021, 2020, and 2019 respectively.

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=124259787&loc=d3e4437-111522 + Details
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