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OTHER REAL ESTATE OWNED (Tables)
 12 Months Ended
Dec. 31, 2023
OTHER REAL ESTATE OWNED  
Other real estate owned activity

 

 

2023

 

 

2022

 

Balance as of January 1

 

$-

 

 

$-

 

Purchase of foreclosed real estate

 

 

55

 

 

 

-

 

Loans transferred to OREO

 

 

-

 

 

 

197

 

Sale of OREO

 

 

-

 

 

 

(138)

Write down of OREO and losses on sale

 

 

-

 

 

 

(59)

Balance as of December 31

 

$55

 

 

$-

 
(Income) expenses related to foreclosed assets

Expenses related to foreclosed assets include:

 

2023

 

 

2022

 

Net loss on sales

 

$-

 

 

$59

 

Expenses related to foreclosed assets

 

$-

 

 

$59