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1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Collateral Held for Resale (Policies)
12 Months Ended
Dec. 31, 2019
Policies  
Collateral Held for Resale:

Collateral Held for Resale:

 

When the Company takes possession of collateral which secures a loan, the collateral is recorded at the lower of its estimated resale value or the loan balance. Any losses incurred at that time are charged against the Allowance for Loan Losses.