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Note 6 - Foreclosed Real Estate | 12 Months Ended
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Dec. 31, 2024
Notes to Financial Statements |
Real Estate Disclosure [Text Block] |
(6) | FORECLOSED REAL ESTATE
There was no foreclosed real estate activity for the year ended December 31, 2024. During the year ended December 31, 2023, the Company transferred $64,000 from loans to foreclosed real estate and sold $64,000 of foreclosed real estate. The Company had $36,000 in foreclosed real estate as of January 1, 2022 and sold $36,000 of foreclosed real estate during the year ended December 31, 2022. The Company had no foreclosed real estate at December 31, 2024, 2023 or 2022. At December 31, 2024 and 2023, the amortized cost of consumer mortgage loans secured by residential real estate properties where formal foreclosure procedures are in process was $203,000 and $1,000, respectively.

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