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Other Real Estate Owned | 6 Months Ended
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Jun. 30, 2021
Other Real Estate [Abstract] |
Other Real Estate Owned | NOTE F - OTHER REAL ESTATE OWNED The following table explains changes in other real estate owned (“OREO”) during the six months ended June 30, 2021 and 2020:
(Dollars in thousands) | OREO
Balance at December 31, 2020 | $ | 50,890 |
Additions | 11,340 |
Sales | (16,600) |
Write-downs/losses | (1,945) |
Balance at June 30, 2021 | $ | 43,685 |
Balance at December 31, 2019 | $ | 46,591 |
Additions | 9,184 |
Acquired in business combinations | 9,813 |
Sales | (9,497) |
Write-downs/losses | (2,241) |
Balance at June 30, 2020 | $ | 53,850 |
At June 30, 2021 and December 31, 2020, BancShares had $6.1 million and $5.8 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 $27.1 million and $29.4 million at June 30, 2021 and December 31, 2020, respectively. Net gains recorded on the sale of OREO properties were $3.8 million for the six months ended June 30, 2021. Net losses recorded on the sale of OREO properties were $0.2 million for the six months ended June 30, 2020

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- References No definition available. + Details
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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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