XML 21 R11.htm IDEA: XBRL DOCUMENT v3.22.2.2
Other Real Estate and Other Assets Acquired in Settlement of Loans
 9 Months Ended
Sep. 30, 2022
Other Real Estate [Abstract]  
Other Real Estate and Other Assets Acquired in Settlement of Loans Other Real Estate and Other Assets Acquired in Settlement of Loans
September 30,December 31,
(in thousands)20222021
Commercial$— $643 
Real estate construction - commercial10,09410,166
Real estate mortgage - residential86117
Real estate mortgage - commercial1,6392,510
Repossessed assets55 — 
Total$11,874 $13,436 
Less valuation allowance for other real estate owned(2,664)(2,911)
Total other real estate owned and repossessed assets$9,210 $10,525 
Changes in the net carrying amount of other real estate owned and repossessed assets were as follows for the periods indicated:
Three Months Ended September 30,Nine Months Ended September 30,
(in thousands)2022202120222021
Balance at beginning of period$11,819$14,552$13,436$14,905
Additions net of (charge-offs)551123142
Proceeds from sales— (423)(1,348)(747)
Charge-offs against the valuation allowance for other real estate owned, net— (470)(219)(554)
Net gain on sales——225
Total other real estate owned11,87413,77111,87413,771
Less valuation allowance for other real estate owned(2,664)(2,157)(2,664)(2,157)
Balance at end of period$9,210$11,614$9,210$11,614
At September 30, 2022, $0.2 million of consumer mortgage loans secured by residential real estate properties were in the process of foreclosure compared to $0.2 million of consumer mortgage loans at December 31, 2021.
Activity in the valuation allowance for other real estate owned was as follows for the periods indicated:
Three Months Ended September 30,Nine Months Ended September 30,
(in thousands)2022202120222021
Balance at beginning of period$2,664$2,614$2,911$2,614
Provision for other real estate owned —13(28)97
Charge-offs—(470)(219)(554)
Balance at end of period$2,664$2,157$2,664$2,157