OREO

12 Months Ended

Dec. 31, 2023

OREO

OREO

NOTE 6: OREO

At both December 31, 2023 and 2022, the carrying amount of OREO was zero.  Changes in the balance for OREO are as follows:

	Year Ended December 31,
(Dollars in thousands)	2023		2022
Balance at the beginning of year, gross	$	—	$	835
Additions		—		423
Charge-offs		—		—
Sales proceeds		—		(1,547)
Gain on disposition		—		289
Balance at the end of year, gross		—		—
Less valuation allowance		—		—
Balance at the end of year, net	$	—	$	—

Changes in the allowance for OREO losses are as follows:

	Year Ended December 31,
(Dollars in thousands)	2023		2022		2021
Balance at the beginning of year	$	—	$	—	$	207
Provision for losses		—		—		(153)
Charge-offs, net		—		—		(54)
Balance at the end of year	$	—	$	—	$	—

Net OREO gains of $289,000 were recognized upon the disposal of real estate in connection with the sale of former branch locations subsequent to consolidation into nearby branches and are included in other income (loss), net in the Consolidated Statements of Income for 2022.  Net OREO losses of $2,000 and gains of $379,000, including expenses associated with OREO properties, are included in other noninterest expense in the Consolidated Statements of Income for 2022 and 2021, respectively. There were no net OREO losses or expenses during 2023.