Annual report pursuant to Section 13 and 15(d)

Note 4 - Foreclosed Properties

v3.22.4
Note 4 - Foreclosed Properties
12 Months Ended
Dec. 31, 2022
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, 2022, 2021 and 2020 follows:

 

   

2022

   

2021

   

2020

 
   

(In Thousands)

 

Balance at beginning of year

  $ 1,208     $ 6,497     $ 8,178  

Transfers from loans and capitalized expenses

    1,045       2,318       2,985  

Foreclosed properties sold

    (2,281 )     (6,474 )     (2,813 )

Write downs and partial liquidations

    276       (1,133 )     (1,853 )

Balance at end of year

  $ 248     $ 1,208     $ 6,497