Other Real Estate and Other Assets Acquired in Settlement of Loans (Tables)

12 Months Ended

Dec. 31, 2023

Other Real Estate [Abstract]

Schedule of Real Estate and Other Assets Acquired in Settlement of Loans

(in thousands)	2023		2022
Real estate construction - commercial	$	7,668	$	10,094
Real estate mortgage - residential	20		179
Real estate mortgage - commercial	—		1,186
Repossessed assets	6		—
Total	$	7,694	$	11,459
Less valuation allowance for other real estate owned	(5,950)		(2,664)
Total other real estate owned	$	1,744	$	8,795

Schedule of Changes in the Net Carrying Amount of Other Real Estate Owned

Changes in the net carrying amount of other real estate owned for the years indicated:

Balance at December 31, 2021	$	13,436
Additions	162
Proceeds from sales	(2,176)
Charge-offs against the valuation allowance for other real estate owned, net	(218)
Net gain on sales	255
Balance at December 31, 2022	$	11,459
Additions	71
Proceeds from sales	(2,691)
Charge-offs against the valuation allowance for other real estate owned, net	(1,443)
Net gain on sales	298
Total other real estate owned	$	7,694
Less valuation allowance for other real estate owned	(5,950)
Balance at December 31, 2023	$	1,744

Schedule of Activity in Valuation Allowance for Other Real Estate Owned

Activity in the valuation allowance for other real estate owned in settlement of loans for the years December 31, as indicated:

(in thousands)	2023		2022		2021
Balance, beginning of year	$	2,664	$	2,911	$	2,614
Provision for (release of) other real estate owned	4,729		(29)		965
Charge-offs	(1,443)		(218)		(668)
Balance, end of year	$	5,950	$	2,664	$	2,911