Other Real Estate Owned

12 Months Ended

Dec. 31, 2024

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, 2024, 2023, and 2022:


	Year Ended December 31,
		2024		2023		2022
Balance at beginning of period		$	3,192	$	5,794	$	9,777
Transfers from loans		3,458		2,736		1,437
Transfers to other assets		—		(75)		—
Transfers to premises and equipment		—		—		(351)

Proceeds from sale of other real estate owned		(2,323)		(6,083)		(4,955)
Gain on sale of other real estate owned		82		835		328

Write-downs and partial liquidations		—		(15)		(442)
Balance at end of period		$	4,409	$	3,192	$	5,794

Included within the other real estate owned balance above, foreclosed residential real estate properties totaled $2,880 and $2,414 as of December 31, 2024 and 2023, respectively.

The recorded investment in residential mortgage loans secured by residential real estate properties for which foreclosure proceedings are in process totaled $7,652 and $3,377 as of December 31, 2024 and 2023, respectively.