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Other Real Estate Owned

12 Months Ended

Dec. 31, 2020

Other Real Estate Owned

Other Real Estate Owned

Note 5: Other Real Estate Owned

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Details related to the activity in the other real estate owned (“OREO”) portfolio, net of valuation reserve, for the periods presented are itemized in the following table.

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​	​	​	​	​	​	​	​	​	​	​
​	​	Twelve Months Ended								​
​		December 31,
Other real estate owned		2020			2019			2018		​
Balance at beginning of period	​	$	5,004	​	$	7,175	​	$	8,371	​
Property additions, net of acquisition adjustments	​	​	898	​	​	872	​	​	3,316	​
Property improvements	​	​	-	​	​	-	​	​	59	​
Less:	​	​	​	​	​	​	​	​	​	​
Proceeds from property disposals, net of participation purchase and of gains/losses	​	​	3,071	​	​	2,515	​	​	3,990	​
Period valuation adjustments	​	​	357	​	​	519	​	​	581	​
Other adjustments	​	​	-	​	​	9	​	​	-	​
Balance at end of period	​	$	2,474	​	$	5,004	​	$	7,175	​

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Activity in the valuation allowance was as follows:

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​	​	​	​	​	​	​	​	​	​	​
​	​	Twelve Months Ended
​		December 31,
​		2020			2019			2018
Balance at beginning of period	​	$	6,712	​	$	8,027	​	$	8,208	​
Provision for unrealized losses	​	​	357	​	​	519	​	​	581	​
Reductions taken on sales	​	​	(5,426)	​	​	(1,834)	​	​	(762)	​
Balance at end of period	​	$	1,643	​	$	6,712	​	$	8,027	​

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Expenses related to OREO, net of lease revenue includes:

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​	​	​	​	​	​	​	​	​	​	​
​	​	Twelve Months Ended								​
​		December 31,								​
​		2020			2019			2018		​
Gain on sales, net	​	$	(204)	​	$	(264)	​	$	(792)	​
Provision for unrealized losses	​	​	357	​	​	519	​	​	581	​
Operating expenses	​	​	535	​	​	173	​	​	649	​
Less:	​	​	​	​	​	​	​	​	​	​
Lease revenue	​	​	37	​	​	5	​	​	42	​
Net OREO expense	​	$	651	​	$	423	​	$	396	​

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X

- References

No definition available.

+ Details

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Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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=121593590&loc=d3e4437-111522

+ Details

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