Other Real Estate Owned

6 Months Ended

Jun. 30, 2023

(In Thousands)

The following table provides details of the Company’s other real estate owned (“OREO”), net of valuation allowances and direct write-downs, as of the dates presented:


	June 30, 2023		December 31, 2022
Residential real estate	$	459	$	699
Commercial real estate	3,481		62
Residential land development	448		246
Commercial land development	732		756

Total	$	5,120	$	1,763

Changes in the Company’s OREO were as follows:


	Total OREO
Balance at January 1, 2023	$	1,763


Transfers of loans	4,119

Impairments	(8)
Dispositions	(738)
Other	(16)
Balance at June 30, 2023	$	5,120

At June 30, 2023 and December 31, 2022, the amortized cost of loans secured by Real Estate - 1-4 Family Mortgage in the process of foreclosure was $2,735 and $375, respectively.

Components of the line item “Other real estate owned” in the Consolidated Statements of Income were as follows for the periods presented:


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2023		2022		2023		2022
Repairs and maintenance	$	28	$	17	$	44	$	20
Property taxes and insurance	11		27		122		62
Impairments	8		37		8		51
Net losses (gains) on OREO sales	6		(266)		(89)		(557)
Rental income	(2)		(2)		(4)		(4)
Total	$	51	$	(187)	$	81	$	(428)