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Other Real Estate Owned
9 Months Ended
Sep. 30, 2025
Other Real Estate Owned [Abstract]  
Other Real Estate Owned
Note 4—Other Real Estate Owned

OREO was $873,000 at September 30, 2025 and December 31, 2024, respectively, which includes property no longer utilized for business operations and property acquired through foreclosure proceedings. These properties are carried at fair value less selling costs determined at the date acquired. Losses, if any, arising from properties acquired through foreclosure are charged against the allowance for loan losses at the time of foreclosure. Subsequent declines in value, periodic holding costs, and net gains or losses on disposition are included in other operating expense as incurred.

During the second quarter of 2025, the Company recorded an additional $326,000 in other real estate owned, which was sold during the third quarter of 2025 at the carrying value.