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Other Real Estate Owned | 12 Months Ended
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Dec. 31, 2022
Repossessed Assets [Abstract] |
Other Real Estate Owned | OTHER REAL ESTATE OWNED Information with respect to the Company’s other real estate owned follows:
Year Ended December 31, | 2022 |  | 2021 |  | 2020
Balance at beginning of year | $ | 2.0 |  |  | $ | 2.5 |  |  | $ | 8.5 |
OREO acquired through acquisitions | 15.8 |  |  | — |  |  | — |
Additions | 0.4 |  |  | 0.9 |  |  | 3.3 |
Valuation adjustments | (2.8) |  |  | — |  |  | (0.1) |
Dispositions | (2.7) |  |  | (1.4) |  |  | (9.2) |
Balance at end of year | $ | 12.7 |  |  | $ | 2.0 |  |  | $ | 2.5 |
There were $2.8 million of write-downs during 2022, which were adjustments based on internal evaluations and other sources, including management estimates of the current fair value of properties, and adjustments directly related to receipt of updated appraisals. There were no material write-downs during 2021 or 2020. The carrying value of foreclosed residential real estate properties included in OREO was not material as of December 31, 2022 and 2021. The Company had no material recorded investments in consumer mortgage loans secured by residential real estate for which formal foreclosure proceedings were in process of foreclosure as of December 31, 2022 and 2021.

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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=124259787&loc=d3e4437-111522 + Details
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