Note 6 - Foreclosed Real Estate

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Real Estate Disclosure [Text Block]

(6)         FORECLOSED REAL ESTATE

Foreclosed real estate activity was as follows for the years ended December 31, 2023, 2022 and 2021:

(In thousands)	2023			2022			2021
Beginning balance	$	-		$	36		$	-
Transfers from loans to foreclosed real estate		64			-			126
Direct write-downs		-			-			(5	)
Sales		(64	)		(36	)		(85	)
Capitalized expenses and other adjustments		-			-			-
Ending balance	$	-		$	-		$	36

At December 31, 2023 and 2022, foreclosed real estate did not include any residential real estate properties where physical possession has been obtained. At December 31, 2023 and 2022, the amortized cost of consumer mortgage loans secured by residential real estate properties where formal foreclosure procedures are in process was $1,000 and $104,000, respectively.