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Other Real Estate Owned
 6 Months Ended
Jun. 30, 2019
Other Real Estate, Foreclosed Assets, and Repossessed Assets [Abstract]  
Other Real Estate Owned
Other Real Estate Owned
The following tables set forth activity in OREO for the three and six months ended June 30, 2019 and 2018:
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
 
2019
 
2018
 
2019
 
2018
 
 
(in thousands)
Balance, beginning of period
 
$
6,075

 
$
11,507

 
$
6,019

 
$
13,298

Transfers in
 
—

 
—

 
386

 
406

Valuation adjustments
 
—

 
(110
)
 
(195
)
 
(202
)
Proceeds from sale of OREO property
 
(5,673
)
 
(3,759
)
 
(5,794
)
 
(5,821
)
Gain (loss) on sale of OREO, net
 
716

 
(558
)
 
702

 
(601
)
Balance, end of period
 
$
1,118

 
$
7,080

 
$
1,118

 
$
7,080


At June 30, 2019, there were $311 thousand in foreclosed residential real estate properties held as OREO and the recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings were in process was $586 thousand.