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Other Real Estate Owned (Tables)
9 Months Ended
Sep. 30, 2022
Real Estate [Abstract]  
Other Real Estate Owned Rollforward

The following table is a summary of other real estate owned (“OREO”) activity for the nine months ended September 30, 2022 and 2021 and the year ended December 31, 2021:

 

 

 

Nine Months Ended

 

 

Year Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

December 31,

 

 

September 30,

 

 

 

2022

 

 

2021

 

 

2021

 

 

 

(in thousands)

 

Balance, beginning

 

$

 

 

$

607

 

 

$

607

 

Transfer from loans

 

 

 

 

 

266

 

 

 

266

 

Gain on foreclosures

 

 

 

 

 

 

 

 

 

Sales

 

 

 

 

 

(781

)

 

 

(588

)

Valuation adjustments

 

 

 

 

 

(92

)

 

 

(92

)

Balance, ending

 

$

 

 

$

 

 

$

193