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Other Real Estate Owned | 12 Months Ended
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Dec. 31, 2019
Banking And Thrift [Abstract] |
Other Real Estate Owned | Note 8—Other Real Estate Owned The following table presents the change in other real estate owned (“OREO”) for the years ended December 31, 2019, 2018 and 2017:
|  | 2019 |  |  | 2018 |  |  | 2017 |
Beginning balance |  | $ | 5,041 |  |  | $ | 10,626 |  |  | $ | 16,570 |
Acquisition of OREO through business combination |  |  | 2,201 |  |  |  | — |  |  |  | — |
Net additions to OREO |  |  | 5,910 |  |  |  | 2,163 |  |  |  | 6,690 |
Proceeds from sales of OREO |  |  | (3,173 | ) |  |  | (7,495 | ) |  |  | (13,898 | )
Gains on sales of OREO |  |  | 428 |  |  |  | 383 |  |  |  | 2,147 |
Valuation adjustments |  |  | (511 | ) |  |  | (636 | ) |  |  | (883 | )
Ending balance |  | $ | 9,896 |  |  | $ | 5,041 |  |  | $ | 10,626 |
At December 31, 2019 and 2018, the balance of real estate owned included $1.5 million and $838,000, respectively, of foreclosed residential real estate properties recorded as a result of obtaining physical possession of the property. At December 31, 2019 and 2018, the recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings were in process is $2.1 million and $2.3 million, respectively. Proceeds from sales of OREO include proceeds from internally financed sales of OREO of $183,000 and $444,000 for the years ended December 31, 2019 and 2018, respectively. There were no internally financed sales of OREO for the year ended December 31, 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://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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