Loans Held for Sale

9 Months Ended

Sep. 30, 2023

Notes to Financial Statements

Loans held for sale

6.     Loans held for sale

Loans held for sale are carried at the lower of cost or estimated fair value. At September 30, 2023 and December 31, 2022, the Bank did not have any loans held for sale.

The following table shows loans sold during the periods indicated:

	For the three months ended September 30, 2023
(Dollars in thousands)	Loans sold	Proceeds		Net charge-offs		Net gain
Performing loans
Commercial	2	$	2,000	$	—	$	—
Total	2	$	2,000	$	—	$	—
	For the three months ended September 30, 2022
(Dollars in thousands)	Loans sold	Proceeds		Net charge-offs		Net gain
Performing loans
Multi-family residential	1	$	10,682	$	—	$	—
Total	1	$	10,682	$	—	$	—

	For the nine months ended September 30, 2023
(Dollars in thousands)	Loans sold	Proceeds		Net charge-offs		Net gain
Performing loans
Commercial	2	$	2,000	$	—	$	—
Total	2	$	2,000	$	—	$	—
Delinquent and non-performing loans
Multi-family residential	7	$	3,622	$	—	$	69
Commercial	3		1,867		(8)		—
One-to-four family - mixed-use property	3		1,553		—		39
Total	13	$	7,042	$	(8)	$	108

	For the nine months ended September 30, 2022
(Dollars in thousands)	Loans sold	Proceeds		Net charge-offs		Net gain
Performing loans
Multi-family residential	5	$	20,818	$	—	$	—
Commercial	1		4,312		—		—
Total	6	$	25,130	$	—	$	—
Delinquent and non-performing loans
Commercial	1	$	3,687	$	—	$	73
One-to-four family - mixed-use property	1		430		—		—
Total	2	$	4,117	$	—	$	73