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Other Real Estate Owned
 9 Months Ended
Sep. 30, 2024
Real Estate [Abstract]  
Real Estate Owned

NOTE 11. Other Real Estate Owned

The following table is a summary of other real estate owned (“OREO”) activity for the nine months ended September 30, 2024 and 2023 and the year ended December 31, 2023:

 

 

 

Nine Months Ended

 

 

Year Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

December 31,

 

 

September 30,

 

 

 

2024

 

 

2023

 

 

2023

 

 

 

(in thousands)

 

Balance, beginning

 

$

—

 

 

$

108

 

 

$

108

 

Transfer from loans

 

 

—

 

 

 

—

 

 

 

—

 

Gain on foreclosures

 

 

—

 

 

 

—

 

 

 

—

 

Sales

 

 

—

 

 

 

(108

)

 

 

(108

)

Valuation adjustments

 

 

—

 

 

 

—

 

 

 

—

 

Balance, ending

 

$

—

 

 

$

—

 

 

$

—

 

 

 

There were no loans collateralized by residential real estate in the process of foreclosure at September 30, 2024 and December 31, 2023.