Annual report [Section 13 and 15(d), not S-K Item 405]

Note 4 - Foreclosed Properties

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Note 4 - Foreclosed Properties
12 Months Ended
Dec. 31, 2024
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, 2024, 2023 and 2022 follows:

 

   

2024

   

2023

   

2022

 
   

(In Thousands)

 

Balance at beginning of year

  $ 995     $ 248     $ 1,208  

Transfers from loans and capitalized expenses

    4,514       933       1,046  

Foreclosed properties sold

    (3,024 )     (158 )     (2,282 )

Write downs and partial liquidations

    46       (28 )     276  

Balance at end of year

  $ 2,531     $ 995     $ 248