OTHER REAL ESTATE OWNED ("OREO")

3 Months Ended

Mar. 31, 2023

OTHER REAL ESTATE OWNED ("OREO")

OTHER REAL ESTATE OWNED ("OREO")

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

The following table presents the activity related to OREO at or for the three months ended March 31, 2023 and 2022:

	At or For the Three Months Ended
	March 31,
	2023		2022
Beginning balance	$	570	$	—
Loans transferred to OREO		—		—
Closed retail branch transferred to OREO		—		—
Gross proceeds from sale of OREO		—		—
Loss on sale of OREO		—		—
Ending balance	$	570	$	—

There was one OREO property (a closed branch in Centralia) at March 31, 2023 and none at March 31, 2022.  There were no OREO holding costs for the three months ended March 31, 2023 or 2022.

There were $416,000 and $511,000 in portfolio mortgage loans collateralized by residential real estate property in the process of foreclosure at March 31, 2023 and at December 31, 2022, respectively.