v3.25.2
OTHER REAL ESTATE OWNED AND REPOSSESSIONS
6 Months Ended
Jun. 30, 2025
OTHER REAL ESTATE OWNED AND REPOSSESSIONS  
OTHER REAL ESTATE OWNED AND REPOSSESSIONS

NOTE 8: OTHER REAL ESTATE OWNED AND REPOSSESSIONS

Major classifications of other real estate owned were as follows:

    

June 30, 

    

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

 

4

 

33

Total foreclosed assets held for sale and repossessions

 

6,040

 

5,993

Other real estate owned not acquired through foreclosure

 

 

Other real estate owned and repossessions

$

6,040

$

5,993

At June 30, 2025 and December 31, 2024, there was no other real estate owned not acquired through foreclosure.

At June 30, 2025 and December 31, 2024, residential mortgage loans totaling $70,000 and $12,000, respectively, were in the process of foreclosure.

Expenses (income) applicable to other real estate owned and repossessions included the following:

    

Three Months Ended

June 30, 

2025

    

2024

(In Thousands)

Net loss (gain) on sales of other real estate owned and repossessions

$

1

$

(36)

Valuation write-downs

 

Operating expenses (income), net of rental income

 

(169)

321

$

(168)

$

285

Six Months Ended

June 30, 

    

2025

    

2024

(In Thousands)

Net loss (gain) on sales of other real estate owned and repossessions

$

5

$

(33)

Valuation write-downs

 

Operating expenses (income), net of rental income

 

(243)

379

$

(238)

$

346