Note 6 - Other Real Estate Owned |
12 Months Ended |
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Dec. 31, 2023 | |
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, 2023 and 2022. Additionally, there was no movement in OREO during the years ended December 31, 2023 and 2022.
The recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process is $64,000 as of December 31, 2023. There were no consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process as of December 31, 2022.
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- References No definition available.
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- Definition The entire disclosure for real estate owned (as defined). Generally, the largest component of real estate owned by lenders is assets taken in settlement of troubled loans through surrender or foreclosure. Real estate investments, real estate loans that qualify as investments in real estate, and premises that are no longer used in operations may also be included in real estate owned. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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