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Other Real Estate Owned
 3 Months Ended
Mar. 31, 2024
Real Estate [Abstract]  
Other Real Estate Owned Other Real Estate Owned
(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:
 
March 31, 2024December 31, 2023
Residential real estate$1,244 $1,211 
Commercial real estate7,872 8,407 
Residential land development19 4 
Commercial land development7 — 
Total$9,142 $9,622 

Changes in the Company’s OREO were as follows:
 
Total
OREO
Balance at January 1, 2024$9,622 
Transfers of loans195 
Impairments(28)
Dispositions(119)
Other(528)
Balance at March 31, 2024$9,142 

At March 31, 2024 and December 31, 2023, the amortized cost of loans secured by Real Estate - 1-4 Family Mortgage in the process of foreclosure was $2,555 and $395, 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
 March 31,
 20242023
Repairs and maintenance$64 $16 
Property taxes and insurance29 111 
Impairments28 — 
Net gains on OREO sales(13)(95)
Rental income(1)(2)
Total$107 $30