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Other Real Estate Owned and Repossessed Assets (Tables)
 6 Months Ended
Jun. 30, 2024
Other Real Estate [Abstract]  
Summary of Foreclosed Property Activity The following table summarizes foreclosed property activity as of the six months ended June 30, 2024 and 2023:

 

 

June 30, 2024

 

 

June 30, 2023

 

 

 

(Dollars in Thousands)

 

Beginning balance

 

$

602

 

 

$

686

 

Additions (1)

 

 

—

 

 

 

—

 

Sales proceeds

 

 

—

 

 

 

—

 

Gross gains

 

 

—

 

 

 

—

 

Gross losses

 

 

—

 

 

 

—

 

Net gains

 

 

—

 

 

 

—

 

Impairment

 

 

(60

)

 

 

(69

)

Ending balance

 

$

542

 

 

$

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 six months ended June 30, 2024 and 2023:

 

 

June 30, 2024

 

 

June 30, 2023

 

 

 

(Dollars in Thousands)

 

Beginning balance

 

$

435

 

 

$

83

 

Transfers from loans

 

 

847

 

 

 

740

 

Sales proceeds

 

 

(480

)

 

 

(291

)

Gross gains

 

 

—

 

 

 

—

 

Gross losses

 

 

(657

)

 

 

(324

)

Net losses

 

 

(657

)

 

 

(324

)

Impairment

 

 

—

 

 

 

—

 

Ending balance

 

$

145

 

 

$

208