Foreclosed Assets

12 Months Ended

Dec. 31, 2021

Other Real Estate, Foreclosed Assets, and Repossessed Assets [Abstract]

Foreclosed Assets

NOTE 6.  FORECLOSED ASSETS, NET

The following table summarizes foreclosed assets as of the dates indicated:

	December 31,
Property Type	2021		2020
	(In thousands)
Commercial real estate	$	12,594	$	12,979
Construction and land development	—		219
Total other real estate owned, net	12,594		13,198
Other foreclosed assets	249		829
Total foreclosed assets, net	$	12,843	$	14,027

The following table presents the changes in foreclosed assets, net of the valuation allowance, for the years indicated:

	Year Ended December 31,
Foreclosed Assets	2021		2020		2019
	(In thousands)
Balance, beginning of year	$	14,027	$	440	$	5,299
Transfers to foreclosed assets from loans	1,062		14,755		120
Provision for losses	(14)		(267)		(78)
Reductions related to sales	(2,232)		(901)		(4,901)
Balance, end of year	$	12,843	$	14,027	$	440

The following table presents the changes in the foreclosed assets valuation allowance for the years indicated:

	Year Ended December 31,
Foreclosed Assets Valuation Allowance	2021		2020		2019
	(In thousands)
Balance, beginning of year	$	354	$	87	$	88
Provision for losses	14		267		78
Reductions related to sales	(176)		—		(79)
Balance, end of year	$	192	$	354	$	87