Annual report pursuant to Section 13 and 15(d)

Note 6 - Other Real Estate Owned

v3.23.1
Note 6 - Other Real Estate Owned
12 Months Ended
Dec. 31, 2022
Notes to Financial Statements  
Real Estate Owned [Text Block]

Note 6: Other Real Estate Owned

 

There was no other real estate owned ("OREO") at December 31, 2022 and 2021.

 

The following table represents the movement in OREO during the periods presented.

 

   

At December 31,

 
   

2022

   

2021

 
   

(Dollars in thousands)

 

Transfer of loans to OREO

  $     $ 172  

Sale of OREO

          194  

Gross gain realized on transfer to OREO

          15  

Gross gain realized on sale of OREO

          7  

 

The recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process is $0 and $60,000, as of December 31, 2022 and 2021, respectively.