| Schedule for Changes in Other Real Estate Owned And Other Repossessed Assets |
Changes in other real estate owned and other repossessed assets for the years ended December 31, 2025 and 2024 were as follows.
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
Other Real Estate Owned |
|
|
Other Repossessed Assets |
|
|
Total |
|
Beginning of year |
|
$ |
4,773 |
|
|
$ |
4,811 |
|
|
$ |
9,584 |
|
Transfers in |
|
|
3,032 |
|
|
|
1,357 |
|
|
|
4,389 |
|
Net (loss) gain on sales |
|
|
(713 |
) |
|
|
49 |
|
|
|
(664 |
) |
Proceeds from sales |
|
|
(1,704 |
) |
|
|
(5,639 |
) |
|
|
(7,343 |
) |
|
|
|
5,388 |
|
|
|
578 |
|
|
|
5,966 |
|
Additions to valuation reserve |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Capitalized cost |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Recorded investment |
|
$ |
5,388 |
|
|
$ |
578 |
|
|
$ |
5,966 |
|
|
|
|
|
|
|
|
|
|
|
December 31, 2024 |
|
Other Real Estate Owned |
|
|
Other Repossessed Assets |
|
|
Total |
|
Beginning of year |
|
$ |
1,833 |
|
|
$ |
380 |
|
|
$ |
2,213 |
|
Transfers in |
|
|
4,478 |
|
|
|
5,454 |
|
|
|
9,932 |
|
Net (loss) gain on sales |
|
|
8,688 |
|
|
|
(95 |
) |
|
|
8,593 |
|
Proceeds from sales |
|
|
(9,397 |
) |
|
|
(928 |
) |
|
|
(10,325 |
) |
|
|
|
5,602 |
|
|
|
4,811 |
|
|
|
10,413 |
|
Additions to valuation reserve |
|
|
(829 |
) |
|
|
— |
|
|
|
(829 |
) |
Capitalized cost |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Recorded investment |
|
$ |
4,773 |
|
|
$ |
4,811 |
|
|
$ |
9,584 |
|
|
| Summary of Other Real Estate Owned Expense And Other Repossessed Assets |
Expenses related to other real estate owned and other repossessed assets for the years ended December 31, 2025, 2024, and 2023 were as follows.
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
Other Real Estate Owned |
|
|
Other Repossessed Assets |
|
|
Total |
|
Net loss (gain) on sales |
|
$ |
713 |
|
|
$ |
(49 |
) |
|
$ |
664 |
|
Gain on initial valuation of collateral |
|
|
(101 |
) |
|
|
— |
|
|
|
(101 |
) |
Provision for unrealized losses |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Operating expenses, net of rental income |
|
|
261 |
|
|
|
205 |
|
|
|
466 |
|
Total |
|
$ |
873 |
|
|
$ |
156 |
|
|
$ |
1,029 |
|
|
|
|
|
|
|
|
|
|
|
December 31, 2024 |
|
Other Real Estate Owned |
|
|
Other Repossessed Assets |
|
|
Total |
|
Net loss (gain) on sales |
|
$ |
(8,688 |
) |
|
$ |
95 |
|
|
$ |
(8,593 |
) |
Gain on initial valuation of collateral |
|
|
(47 |
) |
|
|
— |
|
|
|
(47 |
) |
Provision for unrealized losses |
|
|
829 |
|
|
|
— |
|
|
|
829 |
|
Operating expenses, net of rental income |
|
|
169 |
|
|
|
117 |
|
|
|
286 |
|
Total |
|
$ |
(7,737 |
) |
|
$ |
212 |
|
|
$ |
(7,525 |
) |
|
|
|
|
|
|
|
|
|
|
December 31, 2023 |
|
Other Real Estate Owned |
|
|
Other Repossessed Assets |
|
|
Total |
|
Net loss (gain) on sales |
|
$ |
78 |
|
|
$ |
61 |
|
|
$ |
139 |
|
Gain on initial valuation of collateral |
|
|
(61 |
) |
|
|
(3 |
) |
|
|
(64 |
) |
Provision for unrealized losses |
|
|
201 |
|
|
|
— |
|
|
|
201 |
|
Operating expenses, net of rental income |
|
|
324 |
|
|
|
17 |
|
|
|
341 |
|
Total |
|
$ |
542 |
|
|
$ |
75 |
|
|
$ |
617 |
|
|