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 |
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