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Other Real Estate and Other Assets Acquired in Settlement of Loans | 12 Months Ended
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Dec. 31, 2024
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
(in thousands) | 2024 |  | 2023
Real estate construction - commercial | $ | 2,549 |  |  | $ | 7,668 |
Real estate mortgage - residential | 42 |  |  | 20 |
Real estate mortgage - commercial | 858 |  |  | — |
Repossessed assets | — |  |  | 6 |
Total | $ | 3,449 |  |  | $ | 7,694 |
Less valuation allowance for other real estate owned | (2,003) |  |  | (5,950) |
Total other real estate owned | $ | 1,446 |  |  | $ | 1,744 |
At December 31, 2024, there were $0.3 million of consumer mortgage loans secured by residential real estate properties in the process of foreclosure compared to $0.1 million at December 31, 2023. Activity in the valuation allowance for other real estate owned in settlement of loans for the years indicated:
(dollars in thousands) | 2024 |  | 2023 |  | 2022
Balance, beginning of year | $ | 5,950 |  |  | $ | 2,664 |  |  | $ | 2,911 |
Provision for (release of) other real estate owned | (127) |  |  | 4,729 |  |  | (29) |
Charge-offs | (3,820) |  |  | (1,443) |  |  | (218) |
Balance, end of year | $ | 2,003 |  |  | $ | 5,950 |  |  | $ | 2,664 |

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- References No definition available. + Details
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Data Type: | xbrli:stringItemType
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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
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