Other real estate owned

6 Months Ended

Jun. 30, 2023

Other Real Estate [Abstract]

Other Real Estate Owned

Note 12 – Other real estate owned

The following tables present the activity related to Other Real Estate Owned (“OREO”), for the quarters and six months ended June

30, 2023 and 2022.

For the quarter ended June 30, 2023

OREO

OREO

(In thousands)

Commercial/Construction

Mortgage

Total

Balance at beginning of period

$

12,388

$

79,333

$

91,721

Write-downs in value

(45)

(269)

(314)

Additions

244

21,155

21,399

Sales

(785)

(25,822)

(26,607)

Other adjustments

17

-

17

Ending balance

$

11,819

$

74,397

$

86,216

For the quarter ended June 30, 2022

OREO

OREO

(In thousands)

Commercial/Construction

Mortgage

Total

Balance at beginning of period

$

15,468

$

75,099

$

90,567

Write-downs in value

(486)

(245)

(731)

Additions

832

20,663

21,495

Sales

(1,564)

(17,502)

(19,066)

Other adjustments

-

(128)

(128)

Ending balance

$

14,250

$

77,887

$

92,137

For the six months ended June 30, 2023

OREO

OREO

(In thousands)

Commercial/Construction

Mortgage

Total

Balance at beginning of period

$

12,500

$

76,626

$

89,126

Write-downs in value

(239)

(1,020)

(1,259)

Additions

1,267

39,830

41,097

Sales

(1,726)

(40,921)

(42,647)

Other adjustments

17

(118)

(101)

Ending balance

$

11,819

$

74,397

$

86,216

For the six months ended June 30, 2022

OREO

OREO

(In thousands)

Commercial/Construction

Mortgage

Total

Balance at beginning of period

$

15,017

$

70,060

$

85,077

Write-downs in value

(850)

(573)

(1,423)

Additions

3,519

39,903

43,422

Sales

(3,544)

(31,045)

(34,589)

Other adjustments

108

(458)

(350)

Ending balance

$

14,250

$

77,887

$

92,137