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

Note 4 - Foreclosed Properties

v3.25.4
Note 4 - Foreclosed Properties
12 Months Ended
Dec. 31, 2025
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, 2025, 2024 and 2023 follows:

 

   

2025

   

2024

   

2023

 
   

(In Thousands)

 

Balance at beginning of year

  $ 2,531     $ 995     $ 248  

Transfers from loans and capitalized expenses

    3,090       4,514       933  

Foreclosed properties sold

    (3,336 )     (3,024 )     (158 )

Gain (loss) on sale

    298       120       (28 )

Write downs and partial liquidations

    -       (74 )     -  

Balance at end of year

  $ 2,583     $ 2,531     $ 995