Annual report pursuant to Section 13 and 15(d)

OTHER REAL ESTATE OWNED (Tables)

v3.22.4
OTHER REAL ESTATE OWNED (Tables)
 12 Months Ended
Dec. 31, 2022
OTHER REAL ESTATE OWNED [Abstract]  
Period-End Other Real Estate Owned
Other real estate owned was as follows (dollars in thousands):

   
2022
    
2021
  
Beginning balance
  
$
2,369
    
$
2,731
  
Additions, transfers from loans
    
—
      
—
  
Proceeds from sales of other real estate owned and repossessed assets
    
(47
)
    
(170
)
Valuation allowance reversal upon sale
    
(26
)
    
(172
)
Gain (loss) on sales of other real estate owned and repossessed assets
    
47
      
(20
)
     
2,343
      
2,369
  
Less: valuation allowance
    
—
      
(26
)
Ending balance
  
$
2,343
    
$
2,343
  
Activity in Valuation Allowance
Activity in the valuation allowance was as follows (dollars in thousands):

   
2022
    
2021
  
Beginning balance
  
$
26
    
$
194
  
Additions charged to expense
    
—
      
4
  
Reversals upon sale
    
(26
)
    
(172
)
Ending balance
  
$
—
    
$
26