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Other Real Estate Owned | 12 Months Ended
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Dec. 31, 2020
Other Real Estate [Abstract] |
Other Real Estate Owned | OTHER REAL ESTATE OWNED The following table explains changes in other real estate owned (“OREO”) for the years ended December 31, 2020 and 2019.
(Dollars in thousands) | 2020 |  | 2019
Balance at January 1 | $ | 46,591 |  |  | $ | 48,030 |
Additions | 26,822 |  |  | 21,684 |
Acquired in business combinations | 9,813 |  |  | 5,459 |
Sales | (26,726) |  |  | (24,432) |
Write-downs/losses | (5,610) |  |  | (4,150) |
Balance at December 31 | 50,890 |  |  | 46,591 |
At December 31, 2020 and 2019, BancShares had $5.8 million and $14.5 million, respectively, of foreclosed residential real estate property in OREO. The recorded investment in consumer mortgage loans collateralized by residential real estate property in the process of foreclosure was $29.4 million and $23.0 million at December 31, 2020, and 2019, respectively. Gains recorded on the sale of OREO were $1.6 million and $1.5 million for the years ended December 31, 2020 and 2019, respectively.

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- Definition The entire disclosure for real estate owned (as defined). Generally, the largest component of real estate owned by lenders is assets taken in settlement of troubled loans through surrender or foreclosure. Real estate investments, real estate loans that qualify as investments in real estate, and premises that are no longer used in operations may also be included in real estate owned. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=121593590&loc=d3e4437-111522 + Details
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