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v3.24.1.1.u2

Other Real Estate Owned and Repossessed Assets (Tables) | 3 Months Ended
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Mar. 31, 2024
Other Real Estate [Abstract] |
Summary of Foreclosed Property Activity | The following table summarizes foreclosed property activity as of the three months ended March 31, 2024 and 2023:
|  | March 31, 2024 |  |  | March 31, 2023 |
|  | (Dollars in Thousands) |
Beginning balance |  | $ | 602 |  |  | $ | 686 |
Additions (1) |  |  | — |  |  |  | — |
Sales proceeds |  |  | — |  |  |  | — |
Gross gains |  |  | — |  |  |  | — |
Gross losses |  |  | — |  |  |  | — |
Net gains |  |  | — |  |  |  | — |
Impairment |  |  | (30 | ) |  |  | (69 | )
Ending balance |  | $ | 572 |  |  | $ | 617 |
(1) Additions to other real estate owned (“OREO”) may include transfers from loans, transfers from closed branches, and capitalized improvements to existing OREO properties.
Summary of Repossessed Assets Activity | The following table summarizes repossessed asset activity as of the three months ended March 31, 2024 and 2023:
|  | March 31, 2024 |  |  | March 31, 2023 |
|  | (Dollars in Thousands) |
Beginning balance |  | $ | 435 |  |  | $ | 83 |
Transfers from loans |  |  | 364 |  |  |  | 490 |
Sales proceeds |  |  | (294 | ) |  |  | (128 | )
Gross gains |  |  | — |  |  |  | — |
Gross losses |  |  | (344 | ) |  |  | (180 | )
Net losses |  |  | (344 | ) |  |  | (180 | )
Impairment |  |  | — |  |  |  | — |
Ending balance |  | $ | 161 |  |  | $ | 265 |

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- Definition Other real estate assets acquired in foreclosure roll forward. + References No definition available. + Details
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- Definition Other real estate assets acquired in repossessions. + References No definition available. + Details
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- References No definition available. + Details
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