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Other Real Estate and Other Assets Acquired in Settlement of Loans
 12 Months Ended
Dec. 31, 2024
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
(in thousands)20242023
Real estate construction - commercial$2,549 $7,668 
Real estate mortgage - residential42 20 
Real estate mortgage - commercial858 — 
Repossessed assets— 6 
Total$3,449 $7,694 
Less valuation allowance for other real estate owned(2,003)(5,950)
Total other real estate owned$1,446 $1,744 
At December 31, 2024, there were $0.3 million of consumer mortgage loans secured by residential real estate properties in the process of foreclosure compared to $0.1 million at December 31, 2023.
Activity in the valuation allowance for other real estate owned in settlement of loans for the years indicated:
(dollars in thousands)202420232022
Balance, beginning of year$5,950 $2,664 $2,911 
Provision for (release of) other real estate owned (127)4,729 (29)
Charge-offs(3,820)(1,443)(218)
Balance, end of year$2,003 $5,950 $2,664