Annual report pursuant to Section 13 and 15(d)

Note 4 - Foreclosed Properties

v3.20.4
Note 4 - Foreclosed Properties
12 Months Ended
Dec. 31, 2020
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, 2020, 2019 and 2018 follows:

 

   

2020

   

2019

   

2018

 
   

(In Thousands)

 

Balance at beginning of year

  $ 8,178     $ 5,169     $ 6,701  

Transfers from loans and capitalized expenses

    2,985       4,611       3,087  

Foreclosed properties sold

    (2,813 )     (1,437 )     (3,934 )

Write downs and partial liquidations

    (1,853 )     (165 )     (685 )

Balance at end of year

  $ 6,497     $ 8,178     $ 5,169