Quarterly report pursuant to Section 13 or 15(d)

Other Real Estate Owned

v3.21.4
Other Real Estate Owned
 9 Months Ended
Sep. 30, 2021
Other Real Estate Owned  
Other Real Estate Owned

Note 4: Other Real Estate Owned

At September 30, 2021 and December 31, 2020, the balance of other real estate owned was $118,000 and $0, respectively.

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

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Three months ended September 30, 

    

Nine months ended September 30, 

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2021

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2020

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2021

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2020

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(Dollars in thousands)

Transfer of loan to OREO

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$

118

​

$

—

​

$

187

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$

—

Sale of OREO

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68

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—

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68

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—

Gross gain realized on transfer to OREO

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9

​

 

—

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15

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—

Gross gain realized on sale of OREO

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—

​

 

—

​

 

—

​

 

—

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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 September 30, 2021 and December 31, 2020, respectively.