OTHER REAL ESTATE OWNED AND REPOSSESSIONS

6 Months Ended

Jun. 30, 2024

OTHER REAL ESTATE OWNED AND REPOSSESSIONS

OTHER REAL ESTATE OWNED AND REPOSSESSIONS

NOTE 8: OTHER REAL ESTATE OWNED AND REPOSSESSIONS

Major classifications of other real estate owned were as follows:

	June 30,		December 31,
	2024		2023
	(In Thousands)
Foreclosed assets held for sale and repossessions
One- to four-family construction	$	—	$	—
Subdivision construction		—		—
Land development		133		—
Commercial construction		—		—
One- to four-family residential		—		—
Other residential		9,279		—
Commercial real estate		—		—
Commercial business		—		—
Consumer		17		23
Total foreclosed assets held for sale and repossessions		9,429		23
Other real estate owned not acquired through foreclosure		—		—
Other real estate owned and repossessions	$	9,429	$	23

At June 30, 2024 and December 31, 2023, residential mortgage loans totaling $32,000 and $-0-, respectively, were in the process of foreclosure.

Expenses applicable to other real estate owned and repossessions included the following:

	Three Months Ended
	June 30,
	2024		2023
	(In Thousands)
Net (gains) on sales of other real estate owned and repossessions	$	(36)	$	(21)
Valuation write-downs		—		8
Operating expenses, net of rental income		321		60
	$	285	$	47

	Six Months Ended
	June 30,
	2024		2023
	(In Thousands)
Net (gains) on sales of other real estate owned and repossessions	$	(33)	$	(19)
Valuation write-downs		—		82
Operating expenses, net of rental income		379		138
	$	346	$	201