Other real estate owned (Tables)

12 Months Ended

Dec. 31, 2024

Other Real Estate [Abstract]

Other real estate owned

The following tables present the activity related to Other Real Estate Owned (“OREO”), for the years ended December 31, 2024,

2023 and 2022.

For the year ended December 31, 2024

OREO

OREO

(In thousands)

Commercial/Construction

Mortgage

Total

Balance at beginning of period

$

11,189

$

69,227

$

80,416

Write-downs in value

(1,104)

(1,749)

(2,853)

Additions

7,155

43,458

50,613

Sales

(8,816)

(61,845)

(70,661)

Other adjustments

-

(247)

(247)

Ending balance

$

8,424

$

48,844

$

57,268

For the year ended December 31, 2023

OREO

OREO

(In thousands)

Commercial/Construction

Mortgage

Total

Balance at beginning of period

$

12,500

$

76,626

$

89,126

Write-downs in value

(607)

(2,179)

(2,786)

Additions

2,707

68,582

71,289

Sales

(3,428)

(73,548)

(76,976)

Other adjustments

17

(254)

(237)

Ending balance

$

11,189

$

69,227

$

80,416

For the year ended December 31, 2022

OREO

OREO

(In thousands)

Commercial/ Construction

Mortgage

Total

Balance at beginning of period

$

15,017

$

70,060

$

85,077

Write-downs in value

(959)

(1,517)

(2,476)

Additions

5,787

70,069

75,856

Sales

(7,453)

(61,453)

(68,906)

Other adjustments

108

(533)

(425)

Ending balance

$

12,500

$

76,626

$

89,126