Other real estate owned

12 Months Ended

Dec. 31, 2022

Other Real Estate [Abstract]

Other Real Estate Owned

Note 13 – Other real estate owned

The following tables present the activity related to Other Real Estate Owned (“OREO”), for the years ended December 31, 2022,

2021 and 2020.

For the year ended December 31, 2022

OREO

OREO

(In thousands)

Commercial/Construction

Mortgage

Total

Balance at beginning of period

$

15,017

$

70,060

$

85,077

Write-downs in value

(959)

(1,517)

(2,476)

Additions

5,787

70,069

75,856

Sales

(7,453)

(61,453)

(68,906)

Other adjustments

108

(533)

(425)

Ending balance

$

12,500

$

76,626

$

89,126

For the year ended December 31, 2021

OREO

OREO

(In thousands)

Commercial/Construction

Mortgage

Total

Balance at beginning of period

$

13,214

$

69,932

$

83,146

Write-downs in value

(1,058)

(2,161)

(3,219)

Additions

9,746

55,898

65,644

Sales

(7,282)

(52,666)

(59,948)

Other adjustments

397

(943)

(546)

Ending balance

$

15,017

$

70,060

$

85,077

For the year ended December 31, 2020

OREO

OREO

(In thousands)

Commercial/ Construction

Mortgage

Total

Balance at beginning of period

$

16,959

$

105,113

$

122,072

Write-downs in value

(1,564)

(3,060)

(4,624)

Additions

2,223

17,785

20,008

Sales

(4,359)

(49,797)

(54,156)

Other adjustments

(45)

(109)

(154)

Ending balance

$

13,214

$

69,932

$

83,146