Note 8 - Other Real Estate Owned (OREO)

9 Months Ended

Sep. 30, 2023

Notes to Financial Statements

Real Estate Owned [Text Block]

NOTE 8 – OTHER REAL ESTATE OWNED (“OREO”)

The following table presents the activity related to OREO at or for the three and nine months ended September 30, 2023 and 2022:

	At or For the Three Months Ended				At or For the Nine Months Ended
	September 30,				September 30,
	2023		2022		2023		2022
Beginning balance	$	570	$	145	$	570	$	—
Additions		—		—		—		145
Loans transferred to OREO		—		—		—		—
Ending balance	$	570	$	145	$	570	$	145

There was one OREO property (a closed branch in Centralia, Washington) at September 30, 2023 and one at September 30, 2022. There were no OREO holding costs for the three and nine months ended September 30, 2023 and 2022.

There were $317,000 and $511,000 in portfolio mortgage loans collateralized by residential real estate in the process of foreclosure at September 30, 2023 and at December 31, 2022, respectively.