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Real Estate Owned

12 Months Ended

Jun. 30, 2021

Real Estate Owned [Abstract]

REAL ESTATE OWNED

NOTE D - REAL ESTATE OWNED

Activity in real estate owned for the years ended June 30 was as follows:

(in thousands)		2021				2020
Balance at beginning of year		$	640			$	710
Loans transferred to real estate owned			358				304
Capitalized expenditures			1				44
Valuation adjustments			(19	)			(36	)
Disposals			(898	)			(382	)
Balance at end of year		$	82			$	640

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- References

No definition available.

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- Definition

The entire disclosure for real estate owned (as defined). Generally, the largest component of real estate owned by lenders is assets taken in settlement of troubled loans through surrender or foreclosure. Real estate investments, real estate loans that qualify as investments in real estate, and premises that are no longer used in operations may also be included in real estate owned.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=124259787&loc=d3e4437-111522

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