Other real estate owned

9 Months Ended

Sep. 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 nine months ended

September 30, 2023 and 2022.

For the quarter ended September 30, 2023

OREO

OREO

(In thousands)

Commercial/Construction

Mortgage

Total

Balance at beginning of period

$

11,819

$

74,397

$

86,216

Write-downs in value

(123)

(567)

(690)

Additions

257

14,795

15,052

Sales

(900)

(17,356)

(18,256)

Ending balance

$

11,053

$

71,269

$

82,322

For the quarter ended September 30, 2022

OREO

OREO

(In thousands)

Commercial/Construction

Mortgage

Total

Balance at beginning of period

$

14,250

$

77,887

$

92,137

Write-downs in value

(84)

(376)

(460)

Additions

1,711

13,975

15,686

Sales

(1,984)

(12,065)

(14,049)

Other adjustments

-

(75)

(75)

Ending balance

$

13,893

$

79,346

$

93,239

For the nine months ended September 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

(362)

(1,587)

(1,949)

Additions

1,524

54,625

56,149

Sales

(2,626)

(58,277)

(60,903)

Other adjustments

17

(118)

(101)

Ending balance

$

11,053

$

71,269

$

82,322

For the nine months ended September 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

(934)

(949)

(1,883)

Additions

5,230

53,878

59,108

Sales

(5,528)

(43,110)

(48,638)

Other adjustments

108

(533)

(425)

Ending balance

$

13,893

$

79,346

$

93,239