Note 6 - Other Real Estate Owned |
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| Real Estate Owned [Text Block] |
Note 6: Other Real Estate Owned
At December 31, 2021 and December 31, 2020, the balance for other real estate owned ("OREO") was $0.
The following table represents the movement in OREO during the periods presented.
The recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process is $60,000 and $111,000, as of December 31, 2021 and 2020, respectively.
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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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