NOTE 8: OTHER REAL ESTATE OWNED AND REPOSSESSIONS Major classifications of other real estate owned were as follows: | | | | | | | | | March 31, | | December 31, | | | 2025 | | 2024 | | | | (In Thousands) | Foreclosed assets held for sale and repossessions | | | | | | | One- to four-family construction | | $ | — | | $ | — | Subdivision construction | | | — | | | — | Land development | | | — | | | — | Commercial construction | | | — | | | — | One- to four-family residential | | | — | | | — | Other residential (multi-family) | | | — | | | — | Commercial real estate | | | 6,036 | | | 5,960 | Commercial business | | | — | | | — | Consumer | | | — | | | 33 | Total foreclosed assets held for sale and repossessions | | | 6,036 | | | 5,993 | | | | | | | | Other real estate owned not acquired through foreclosure | | | — | | | — | | | | | | | | Other real estate owned and repossessions | | $ | 6,036 | | $ | 5,993 |
At March 31, 2025 and December 31, 2024, there was no other real estate owned not acquired through foreclosure. At both March 31, 2025 and December 31, 2024, residential mortgage loans totaling $12,000 were in the process of foreclosure. Expenses (income) applicable to other real estate owned and repossessions included the following: | | | | | | | | | Three Months Ended | | | March 31, | | | 2025 | | 2024 | | | | (In Thousands) | Net loss on sales of other real estate owned and repossessions | | $ | 5 | | $ | 4 | Valuation write-downs | | | — | | | — | Operating expenses, net of rental income | | | (75) | | | 57 | | | $ | (70) | | $ | 61 |
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