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Other Real Estate and Other Assets Acquired in Settlement of Loans (Tables)
 3 Months Ended
Mar. 31, 2024
Other Real Estate [Abstract]  
Schedule of Real Estate and Other Assets Acquired in Settlement of Loans
March 31,December 31,
(in thousands)20242023
Commercial$219 $— 
Real estate construction - commercial7,668 7,668 
Real estate mortgage - residential—20
Repossessed assets— 6 
Total$7,887 $7,694 
Less valuation allowance for other real estate owned(5,950)(5,950)
Total other real estate owned and repossessed assets$1,937 $1,744 
Schedule of Changes in the Net Carrying Amount of Other Real Estate Owned
Changes in the net carrying amount of other real estate owned and repossessed assets were as follows for the periods indicated:
Three Months Ended March 31,
(in thousands)20242023
Balance at beginning of period$7,694$11,459
Additions net of (charge-offs)219—
Proceeds from sales(60)(557)
Net gain on sales349
Total other real estate owned$7,887$10,911
Less valuation allowance for other real estate owned(5,950)(2,664)
Balance at end of period$1,937$8,247
Schedule of Activity in Valuation Allowance for Other Real Estate Owned
Activity in the valuation allowance for other real estate owned was as follows for the periods indicated:
Three Months Ended March 31,
(in thousands)20242023
Balance at beginning of period$5,950$2,664
Provision for valuation allowance for other real estate owned
——
Charge-offs——
Balance at end of period$5,950$2,664