Other Real Estate (Tables)

12 Months Ended

Dec. 31, 2022

Real Estate [Abstract]

Summary of Other Real Estate Activity

A summary of other real estate activity for the years ended December 31 follows (1):

	2022		2021		2020
	(In thousands)
Balance at beginning of year, net of valuation allowance	$	235	$	738	$	1,715
Loans transferred to other real estate	719		253		332
Sales of other real estate	(511)		(745)		(1,161)
Additions to valuation allowance charged to expense	—		(11)		(148)
Balance at end of year, net of valuation allowance	$	443	$	235	$	738

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(1) Table excludes other repossessed assets totaling $0.01 million and $0.01 million at December 31, 2022 and 2021, respectively.

Valuation Allowance for Other Real Estate Owned

We periodically review our real estate properties and establish valuation allowances on these properties if values have declined since the date of acquisition. An analysis of our valuation allowance for other real estate follows:

	2022		2021		2020
	(In thousands)
Balance at beginning of year	$	31	$	90	$	92
Additions charged to expense	—		11		148
Direct write-downs upon sale	(31)		(70)		(150)
Balance at end of year	$	—	$	31	$	90