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FORECLOSED ASSETS (Tables)
9 Months Ended
Sep. 30, 2020
FORECLOSED ASSETS  
Schedule of foreclosed assets activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30, 

 

Nine Months Ended September 30, 

 

    

2020

    

2019

    

2020

    

2019

 

 

(dollars in thousands)

Beginning balance

 

$

4,450

 

$

9,707

 

$

5,099

 

$

9,559

Transfers from loans

 

 

172

 

 

27

 

 

499

 

 

1,788

Capitalized improvements

 

 

 —

 

 

41

 

 

 6

 

 

41

Proceeds from sales

 

 

(792)

 

 

(3,173)

 

 

(1,793)

 

 

(4,142)

Sales through loan origination

 

 

 —

 

 

 —

 

 

(67)

 

 

(360)

Net gain (loss) on sales

 

 

125

 

 

135

 

 

269

 

 

240

Direct write-downs

 

 

(98)

 

 

(163)

 

 

(156)

 

 

(552)

Ending balance

 

$

3,857

 

$

6,574

 

$

3,857

 

$

6,574

 

Schedule of gains (losses) on foreclosed assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30, 

 

Nine Months Ended September 30, 

 

    

2020

    

2019

    

2020

    

2019

 

 

(dollars in thousands)

Direct write-downs

 

$

(98)

 

$

(163)

 

$

(156)

 

$

(552)

Net gain (loss) on sales

 

 

125

 

 

135

 

 

269

 

 

240

Guarantee reimbursements

 

 

 —

 

 

 8

 

 

 7

 

 

69

Gain on settlement

 

 

 —

 

 

 —

 

 

 —

 

 

375

Gains (losses) on foreclosed assets

 

$

27

 

$

(20)

 

$

120

 

$

132