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Other Real Estate Owned

12 Months Ended

Dec. 31, 2019

Other Real Estate Owned

Other Real Estate Owned

Note 5—Other Real Estate Owned

The following is a summary of the changes in the carrying value of OREO:

​

​	​	​	​	​
​		​	​
(Dollars in thousands)	​	OREO		​
Balance, December 31, 2016	​	$	18,316	​
Acquired in Southeastern Bank Financial Corp. acquisition	​	​	385	​
Acquired in Park Sterling Corp. acquisition	​		2,046	​
Additions, net	​		11,558	​
Writedowns	​		(2,249)	​
Sold	​		(18,853)	​
Balance, December 31, 2017	​		11,203	​
Acquired in Park Sterling Corp. acquisition	​	​	210	​
Additions, net	​	​	13,391	​
Writedowns	​	​	(1,420)	​
Sold	​	​	(11,974)	​
Balance, December 31, 2018	​	​	11,410	​
Additions, net	​	​	10,373	​
Writedowns	​	​	(1,192)	​
Sold	​	​	(8,627)	​
Balance, December 31, 2019	​	$	11,964	​

​

At December 31, 2019, there were a total of 59 properties included in OREO which compares to 75 properties included in OREO, at December 31, 2018. At December 31, 2019, the Company had $1.8 million in residential real estate included in OREO and $5.6 million in residential real estate consumer mortgage loans in the process of foreclosure.

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- References

No definition available.

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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=118952595&loc=d3e4437-111522

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