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Other Real Estate and Other Assets Acquired in Settlement of Loans | 9 Months Ended
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Sep. 30, 2023
Other Real Estate [Abstract] |
Other Real Estate and Other Assets Acquired in Settlement of Loans | Other Real Estate and Other Assets Acquired in Settlement of Loans
| September 30, |  | December 31,
(in thousands) | 2023 |  | 2022
Real estate construction - commercial | $ | 10,054 |  |  | $ | 10,094 |
Real estate mortgage - residential | 71 |  | 179
Real estate mortgage - commercial | 706 |  | 1,186
Total | $ | 10,831 |  |  | $ | 11,459 |
Less valuation allowance for other real estate owned | (7,267) |  | (2,664)
Total other real estate owned and repossessed assets | $ | 3,564 |  |  | $ | 8,795 |
Changes in the net carrying amount of other real estate owned and repossessed assets were as follows for the periods indicated:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in thousands) | 2023 |  | 2022 |  | 2023 |  | 2022
Balance at beginning of period | $ | 10,924 |  | $ | 11,819 |  | $ | 11,459 |  | $ | 13,436
Additions net of (charge-offs) | — |  | 55 |  | 44 |  | 3
Proceeds from sales | (54) |  |  | — |  | (681) |  |  | (1,348) |
Charge-offs against the valuation allowance for other real estate owned, net | (40) |  |  | — |  | (40) |  |  | (219)
Net gain on sales | 1 |  | — |  | 49 |  | 2
Total other real estate owned | 10,831 |  | 11,874 |  | $ | 10,831 |  | $ | 11,874
Less valuation allowance for other real estate owned | (7,267) |  |  | (2,664) |  |  | (7,267) |  |  | (2,664) |
Balance at end of period | $ | 3,564 |  | $ | 9,210 |  | $ | 3,564 |  | $ | 9,210
At September 30, 2023, there were $72,000 in consumer mortgage loans secured by residential real estate properties in the process of foreclosure compared to no such consumer mortgage loans at December 31, 2022. Activity in the valuation allowance for other real estate owned was as follows for the periods indicated:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in thousands) | 2023 |  | 2022 |  | 2023 |  | 2022
Balance at beginning of period | $ | 4,495 |  | $ | 2,664 |  | $ | 2,664 |  | $ | 2,911
Provision for (release of) valuation allowance for other real estate owned | 2,812 |  | — |  | 4,643 |  | (28)
Charge-offs | (40) |  | — |  | (40) |  | (219)
Balance at end of period | $ | 7,267 |  | $ | 2,664 |  | $ | 7,267 |  | $ | 2,664

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- References No definition available. + Details
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Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

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