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OREO | 12 Months Ended
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Dec. 31, 2019
OREO. |
OREO | Note 5. OREO ​ OREO represents properties acquired through foreclosure or other proceedings in settlement of loans and is included in other assets in the accompanying Consolidated Balance Sheets. At December 31, 2019, the Company held $2.7 million in commercial OREO, $0.4 million in residential OREO and an insignificant amount of other repossessed assets. At December 31, 2018, the Company held $0.2 million in commercial OREO, $0.2 million in residential OREO and an insignificant amount of other repossessed assets. At December 31, 2019 the Company had $2.2 million of residential real estate in the process of foreclosure. ​ The following table summarizes activity related to OREO (dollars in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended | ​ | Year Ended
​ |  | December 31, 2019 |  | December 31, 2018
OREO: |  | ​ | ​
Beginning balance |  | $ | 376 |  | $ | 1,283
Additions, transfers from loans | ​ |  | 4,872 | ​ |  | 4,025
Additions, fair value from acquisition | ​ | ​ | 149 | ​ | ​ | —
Sales of OREO | ​ |  | (2,277) | ​ |  | (4,914)
Capitalized improvements | ​ | ​ | 2 | ​ | ​ | —
Cash payments collected | ​ |  | (3) | ​ |  | —
Valuation allowance for OREO | ​ | ​ | (62) | ​ | ​ | (18)
Ending balance | ​ | $ | 3,057 | ​ | $ | 376
​

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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=118952595&loc=d3e4437-111522 + Details
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