Other real estate owned

9 Months Ended

Sep. 30, 2024

Other Real Estate [Abstract]

Other Real Estate Owned

Note 11 – Other real estate owned

The following tables present the activity related to Other Real Estate Owned (“OREO”), for the quarters and nine months ended

September 30, 2024 and 2023.

For the quarter ended September 30, 2024

OREO

OREO

(In thousands)

Commercial/Construction

Mortgage

Total

Balance at beginning of period

$

9,428

$

60,797

$

70,225

Write-downs in value

(39)

(549)

(588)

Additions

1,125

7,966

9,091

Sales

(588)

(15,112)

(15,700)

Ending balance

$

9,926

$

53,102

$

63,028

For the quarter ended September 30, 2023

OREO

OREO

(In thousands)

Commercial/Construction

Mortgage

Total

Balance at beginning of period

$

11,819

$

74,397

$

86,216

Write-downs in value

(123)

(567)

(690)

Additions

257

14,795

15,052

Sales

(900)

(17,356)

(18,256)

Ending balance

$

11,053

$

71,269

$

82,322

For the nine months ended September 30, 2024

OREO

OREO

(In thousands)

Commercial/Construction

Mortgage

Total

Balance at beginning of period

$

11,189

$

69,227

$

80,416

Write-downs in value

(1,103)

(1,260)

(2,363)

Additions

6,985

32,748

39,733

Sales

(7,145)

(47,548)

(54,693)

Other adjustments

-

(65)

(65)

Ending balance

$

9,926

$

53,102

$

63,028

For the nine months ended September 30, 2023

OREO

OREO

(In thousands)

Commercial/Construction

Mortgage

Total

Balance at beginning of period

$

12,500

$

76,626

$

89,126

Write-downs in value

(362)

(1,587)

(1,949)

Additions

1,524

54,625

56,149

Sales

(2,626)

(58,277)

(60,903)

Other adjustments

17

(118)

(101)

Ending balance

$

11,053

$

71,269

$

82,322