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Other Real Estate Owned & Repossessed Assets (Tables)
3 Months Ended
Mar. 31, 2025
Real Estate [Abstract]  
Other Real Estate Owned Rollforward

The following table is a summary of other real estate owned (“OREO”) and repossessed asset activity for the three months ended March 31, 2025 and 2024 and the year ended December 31, 2024:

 

 

 

Three Months Ended

 

 

Year Ended

 

 

Three Months Ended

 

 

 

March 31,

 

 

December 31,

 

 

March 31,

 

 

 

2025

 

 

2024

 

 

2024

 

 

 

(in thousands)

 

Balance, beginning

 

$

514

 

 

$

304

 

 

$

304

 

Transfer from loans

 

 

 

 

 

525

 

 

 

111

 

Sales proceeds

 

 

(381

)

 

 

(111

)

 

 

 

Loss on sales

 

 

(133

)

 

 

(204

)

 

 

 

Valuation adjustments

 

 

 

 

 

 

 

 

 

Balance, ending

 

$

 

 

$

514

 

 

$

415