Other Real Estate Owned and Repossessed Assets (Tables)

3 Months Ended

Mar. 31, 2024

Other Real Estate [Abstract]

Summary of Foreclosed Property Activity

The following table summarizes foreclosed property activity as of the three months ended March 31, 2024 and 2023:

	March 31, 2024			March 31, 2023
	(Dollars in Thousands)
Beginning balance	$	602		$	686
Additions (1)		—			—
Sales proceeds		—			—
Gross gains		—			—
Gross losses		—			—
Net gains		—			—
Impairment		(30	)		(69	)
Ending balance	$	572		$	617

(1)Additions to other real estate owned (“OREO”) may include transfers from loans, transfers from closed branches, and capitalized improvements to existing OREO properties.

Summary of Repossessed Assets Activity

The following table summarizes repossessed asset activity as of the three months ended March 31, 2024 and 2023:

	March 31, 2024			March 31, 2023
	(Dollars in Thousands)
Beginning balance	$	435		$	83
Transfers from loans		364			490
Sales proceeds		(294	)		(128	)
Gross gains		—			—
Gross losses		(344	)		(180	)
Net losses		(344	)		(180	)
Impairment		—			—
Ending balance	$	161		$	265