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Other Real Estate Owned
 9 Months Ended
Sep. 30, 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:
 
September 30, 2024December 31, 2023
Residential real estate$2,774 $1,211 
Commercial real estate6,336 8,407 
Residential land development19 4 
Commercial land development7 — 
Total$9,136 $9,622 

Changes in the Company’s OREO were as follows:
 
Total
OREO
Balance at January 1, 2024$9,622 
Transfers of loans3,286 
Impairments(67)
Dispositions(1,323)
Other(2,382)
Balance at September 30, 2024$9,136 

At September 30, 2024 and December 31, 2023, the amortized cost of loans secured by Real Estate - 1-4 Family Mortgage in the process of foreclosure was $1,324 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 EndedNine Months Ended
 September 30,September 30,
 2024202320242023
Repairs and maintenance$62 $51 $273 $95 
Property taxes and insurance24 20 76 142 
Impairments— 10 67 18 
Net gains on OREO sales(28)(200)(143)(289)
Rental income(2)(1)(5)(5)
Total$56 $(120)$268 $(39)