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Note 8 - Other Real Estate Owned ("OREO")

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Real Estate Owned [Text Block]

NOTE 8 – OTHER REAL ESTATE OWNED (“OREO”)

The following table presents the activity related to OREO at and for the years indicated:

		At or For the Year Ended
		December 31,
		2023				2022				2021
Beginning balance		$	570			$	—			$	90
Loans transferred to OREO			—				145				—
Closed retail branch transferred to OREO			—				570				—
Gross proceeds from sale of OREO			(718	)			(145	)			(81	)
Gain (loss) on sale of OREO			148				—				(9	)
Ending balance		$	—			$	570			$	—

There were no OREO properties at December 31, 2023, one OREO property (a closed branch in Centralia, Washington) at December 31, 2022 and none at December 31, 2021. OREO holding costs were none, $10,000, and none for the years ended December 31, 2023, 2022, and 2021, respectively.

There were $96,000 and $511,000 in mortgage loans collateralized by residential real estate property in the process of foreclosure at December 31, 2023 and 2022, respectively.