XML 34 R14.htm IDEA: XBRL DOCUMENT v3.25.0.1

OREO

12 Months Ended

Dec. 31, 2024

OREO

OREO

NOTE 6: OREO

​

At December 31, 2024 and 2023, the carrying amount of OREO was $1.32 million and zero, respectively. At December 31, 2024, OREO was primarily comprised of a property previously used by the Bank as a branch, which was consolidated into a nearby branch in 2024. Changes in the balance for OREO are as follows:

​

​

​	​	​	​	​	​	​	​
​	​	Year Ended December 31,					​
(Dollars in thousands)		2024			2023
Balance at the beginning of year, gross	​	$	—	​	$	—	​
Additions	​		—	​		—	​
Transfers from bank premises	​		1,827	​		—	​
Charge-offs	​		—	​		—	​
Sales proceeds	​		(416)	​		—	​
Gain on disposition	​		120	​		—	​
Balance at the end of year, gross	​		1,531	​		—	​
Less valuation allowance	​		(215)	​		—	​
Balance at the end of year, net	​	$	1,316	​	$	—	​

​

Changes in the allowance for OREO losses are as follows:

​

​

​	​	​	​	​	​	​	​	​	​	​
​	​	Year Ended December 31,
(Dollars in thousands)		2024			2023			2022
Balance at the beginning of year	​	$	—	​	$	—	​	$	—	​
Provision for losses	​		215	​		—	​		—	​
Charge-offs, net	​		—	​		—	​		—	​
Balance at the end of year	​	$	215	​	$	—	​	$	—	​

​

Net OREO gains of $120,000 were recognized upon the disposal of real estate in connection with the sale of a former branch location and are included in other income (loss), net in the Consolidated Statement of Income for 2024.  OREO losses, including expenses associated with OREO properties, of $218,000 and $2,000 are included in other noninterest expense in the Consolidated Statements of Income for 2024 and 2022, respectively. There were no net OREO losses or expenses during 2023.

X

- References

No definition available.

+ Details

Name:	us-gaap_RealEstateOwnedDisclosureOfDetailedComponentsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

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

+ Details

Name:	us-gaap_RealEstateOwnedTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration