FORECLOSED ASSETS

12 Months Ended

Dec. 31, 2021

Repossessed Assets [Abstract]

FORECLOSED ASSETS

FORECLOSED ASSETS

A summary of foreclosed assets is presented as follows:

	December 31,
	2021		2020
Balance, beginning of year	$	10,224	$	7,042
Acquired through settlement of loans	100		10,088
Sales proceeds	(7,187)		(5,910)
Write-downs	—		(920)
Net gain (loss) on sales of foreclosed assets	(207)		76
Receivable from SBA	—		(152)
Balance, end of year	$	2,930	$	10,224

Net expenses related to foreclosed assets include the following:

	December 31,
	2021		2020
Net (gain) loss on sales of foreclosed assets	$	207	$	(76)
Write-downs	—		920
Operating expenses, net of rental income	(366)		102
Net (income) expense	$	(159)	$	946

The carrying amount of other real estate owned categorized as residential real estate at December 31, 2021 and 2020 was $60 and $145, respectively.