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Other Real Estate Owned and Repossessed Assets (Tables)
 12 Months Ended
Dec. 31, 2024
Other Real Estate [Abstract]  
Summary of Foreclosed Property Activity

Other Real Estate Owned

Other real estate and certain other assets acquired in foreclosure are reported at the net realizable value of the property, less estimated costs to sell. The following table summarizes foreclosed property activity during the years ended December 31, 2024 and 2023:

 

 

 

December 31,
2024

 

 

December 31,
2023

 

 

 

(Dollars in Thousands)

 

Beginning balance

 

$

602

 

 

$

686

 

Additions(1)

 

 

1,027

 

 

 

—

 

Sales proceeds

 

 

—

 

 

 

(15

)

Gross gains

 

 

—

 

 

 

1

 

Gross losses

 

 

—

 

 

 

(6

)

Net gains

 

 

—

 

 

 

(5

)

Impairment

 

 

(120

)

 

 

(64

)

Ending balance

 

$

1,509

 

 

$

602

 

 

(1)
Additions to other real estate owned (“OREO”) may include transfers from loans, transfers from closed branches, and capitalized improvements to existing OREO properties.