Annual report pursuant to Section 13 and 15(d)

Note 4 - Foreclosed Properties

v3.20.1
Note 4 - Foreclosed Properties
 12 Months Ended
Dec. 31, 2019
Notes to Financial Statements  
Real Estate Disclosure [Text Block]

NOTE 4.

FORECLOSED PROPERTIES

 

Other real estate and certain other assets acquired in foreclosure are carried at the lower of the recorded investment in the loan or fair value less estimated costs to sell the property.

 

An analysis of foreclosed properties for the years ended December 31, 2019, 2018 and 2017 follows:

 

   

2019

    

2018

    

2017

  
   

(In Thousands)

  

Balance at beginning of year

   $ 5,169     $ 6,701     $ 4,988  

Transfers from loans and capitalized expenses

     4,611       3,087       4,685  

Foreclosed properties sold

     (1,437 )     (3,934 )     (2,982 )

Write downs and partial liquidations

     (165 )     (685 )     10  

Balance at end of year

   $ 8,178     $ 5,169     $ 6,701