Other Real Estate Owned

12 Months Ended

Dec. 31, 2023

Other real estate owned

The amount reported as other real estate owned includes property acquired through foreclosure in addition to excess facilities held for sale and is carried at the lower of the carrying amount of the underlying loan or the fair value of the real estate less costs to sell. The following table summarizes the other real estate owned for the years ended December 31, 2023, 2022, and 2021:


	Years Ended December 31,
		2023		2022		2021
Balance at beginning of period		$	5,794	$	9,777	$	12,111
Transfers from loans		2,736		1,437		5,262
Transfers to other assets		(75)		—		—
Transfers to premises and equipment		—		(351)		—

Proceeds from sale of other real estate owned		(6,083)		(4,955)		(9,396)
Gain on sale of other real estate owned		835		328		3,248
Loans provided for sales of other real estate owned		—		—		(704)
Write-downs and partial liquidations		(15)		(442)		(744)

Balance at end of period		$	3,192	$	5,794	$	9,777

Foreclosed residential real estate properties totaled $2,414 and $840 as of December 31, 2023 and 2022, respectively. The recorded investment in residential mortgage loans secured by residential real estate properties for which foreclosure proceedings are in process totaled $3,377 and $2,653 as of December 31, 2023 and 2022, respectively.