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Other Real Estate Owned

9 Months Ended

Sep. 30, 2021

Other Real Estate Owned

Other Real Estate Owned

​

Note 5 – Other Real Estate Owned

​

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

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​

Nine Months Ended

​

​

September 30,

September 30,

Other real estate owned

2021

2020

2021

2020

​

Balance at beginning of period

​

$

1,877

​

$

5,082

​

$

2,474

​

$

5,004

​

Property additions, net of acquisition adjustments

​

​

70

​

​

314

​

​

70

​

​

898

​

Less:

​

​

​

​

​

​

​

​

​

​

​

​

​

Proceeds from property disposals, net of participation purchase and of gains/losses

​

​

37

​

​

2,664

​

​

567

​

​

2,952

​

Period valuation (write-up)/write-down

​

​

(2)

​

​

46

​

​

65

​

​

264

​

Balance at end of period

​

$

1,912

​

$

2,686

​

$

1,912

​

$

2,686

​

​

Activity in the valuation allowance was as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​

Nine Months Ended

​

September 30,

September 30,

​

2021

2020

2021

2020

Balance at beginning of period

​

$

1,296

​

$

6,464

​

$

1,643

​

$

6,712

​

Provision for unrealized losses

​

​

(2)

​

​

46

​

​

65

​

​

264

​

Reductions taken on sales

​

​

(129)

​

​

(4,897)

​

​

(543)

​

​

(5,363)

​

Balance at end of period

​

$

1,165

​

$

1,613

​

$

1,165

​

$

1,613

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Expenses related to OREO, net of lease revenue includes:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​

Nine Months Ended

​

​

​

September 30,

September 30,

​

​

2021

2020

2021

2020

​

Gain on sales, net

​

$

(5)

​

$

(165)

​

$

(40)

​

$

(188)

​

Provision for unrealized losses

​

​

(2)

​

​

46

​

​

65

​

​

264

​

Operating expenses

​

​

32

​

​

253

​

​

117

​

​

460

​

Less:

​

​

​

​

​

​

​

​

​

​

​

​

​

Lease revenue

​

​

-

​

​

9

​

​

4

​

​

31

​

Net OREO expense

​

$

25

​

$

125

​

$

138

​

$

505

​

​

X

- References

No definition available.

+ Details

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Namespace Prefix:	us-gaap_
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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Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration