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OTHER REAL ESTATE OWNED | 9 Months Ended
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Sep. 30, 2018
Real Estate Owned, Disclosure of Detailed Components [Abstract] |
OTHER REAL ESTATE OWNED | OTHER REAL ESTATE OWNED The following table presents the activity in OREO for the periods indicated:
|  | Three Months Ended September 30, | Nine Months Ended September 30,
($ in thousands) |  | 2018 |  | 2017 | 2018 |  | 2017
Balance at beginning of period |  | $ | 710 |  |  | $ | 3,267 |  | $ | 1,796 |  |  | $ | 2,502 |
Additions |  | — |  |  | 1,265 |  | 434 |  |  | 3,068 |
Sales and net direct write-downs |  | (327 | ) |  | (716 | ) | (2,038 | ) |  | (1,751 | )
Net change in valuation allowance |  | 51 |  |  | (134 | ) | 242 |  |  | (137 | )
Balance at end of period |  | $ | 434 |  |  | $ | 3,682 |  | $ | 434 |  |  | $ | 3,682 |
The following table presents the activity in the OREO valuation allowance included in All Other Expense in the Consolidated Statements of Operations for the periods indicated:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
($ in thousands) |  | 2018 |  | 2017 |  | 2018 |  | 2017
Balance at beginning of period |  | $ | 51 |  |  | $ | 9 |  |  | $ | 242 |  |  | $ | 6 |
Additions |  | — |  |  | 134 |  |  | 143 |  |  | 143 |
Recoveries |  | — |  |  | — |  |  | (90 | ) |  | — |
Net direct write-downs and removals from sale |  | (51 | ) |  | — |  |  | (295 | ) |  | (6 | )
Balance at end of period |  | $ | — |  |  | $ | 143 |  |  | $ | — |  |  | $ | 143 |
The following table presents expenses related to foreclosed assets included in All Other Expense in the Consolidated Statements of Operations for the periods indicated:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
($ in thousands) |  | 2018 |  | 2017 |  | 2018 |  | 2017
Net loss on sales |  | $ | (16 | ) |  | $ | (130 | ) |  | $ | (13 | ) |  | $ | (99 | )
Operating expenses, net of rental income |  | (32 | ) |  | (11 | ) |  | (134 | ) |  | (24 | )
Total |  | $ | (48 | ) |  | $ | (141 | ) |  | $ | (147 | ) |  | $ | (123 | )
The Company did not provide loans to finance the purchase of its OREO properties during the three or nine months ended September 30, 2018 or 2017.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 35 -Paragraph 43 -URI http://asc.fasb.org/extlink&oid=29634951&loc=d3e1739-110224 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 40 -Section 40 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=114775070&loc=d3e18511-111553 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=82891408&loc=d3e4437-111522 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(8)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 35 -Paragraph 17 -URI http://asc.fasb.org/extlink&oid=29634951&loc=d3e1424-110224 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(10)(4)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 40 -Section 40 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=114775070&loc=d3e18551-111553 + Details
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