Other real estate owned

3 Months Ended

Mar. 31, 2024

Other Real Estate [Abstract]

Other Real Estate Owned

Note 11 – Other real estate owned

The following tables present the activity related to Other Real Estate Owned (“OREO”), for the quarters ended March 31, 2024 and

2023.

For the quarter ended March 31, 2024

OREO

OREO

(In thousands)

Commercial/Construction

Mortgage

Total

Balance at beginning of period

$

11,189

$

69,227

$

80,416

Write-downs in value

(25)

(284)

(309)

Additions

5,344

12,636

17,980

Sales

(546)

(16,934)

(17,480)

Other adjustments

-

(65)

(65)

Ending balance

$

15,962

$

64,580

$

80,542

For the quarter ended March 31, 2023

OREO

OREO

(In thousands)

Commercial/Construction

Mortgage

Total

Balance at beginning of period

$

12,500

$

76,626

$

89,126

Write-downs in value

(194)

(751)

(945)

Additions

1,023

18,675

19,698

Sales

(941)

(15,099)

(16,040)

Other adjustments

-

(118)

(118)

Ending balance

$

12,388

$

79,333

$

91,721