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OTHER REAL ESTATE OWNED

6 Months Ended

Jun. 30, 2019

Other Real Estate [Abstract]

Other Real Estate Owned

NOTE 4 – OTHER REAL ESTATE OWNED

The following table presents other real estate owned activity for the periods indicated.

	Three Months Ended June 30,						Six Months Ended June 30,
(Dollars in Thousands)	2019			2018			2019			2018
Beginning Balance	$	1,902		$	3,330		$	2,229		$	3,941
Additions		161			533			688			840
Valuation Write-downs		(41)			(138)			(231)			(632)
Sales		(1,012)			(352)			(1,676)			(776)
Ending Balance	$	1,010		$	3,373		$	1,010		$	3,373

Net expenses applicable to other real estate owned include the following:
	Three Months Ended June 30,						Six Months Ended June 30,
(Dollars in Thousands)	2019			2018			2019			2018
Gains from the Sale of Properties	$	(80)		$	(53)		$	(92)		$	(81)
Losses from the Sale of Properties		29			54			65			142
Rental Income from Properties		(1)			(3)			(4)			(6)
Property Carrying Costs		86			112			237			187
Valuation Adjustments		41			138			232			632
Total	$	75		$	248		$	438		$	874

At June 30, 2019, the Company had $1.0 million of loans secured by residential real estate in the process of foreclosure.

X

- References

No definition available.

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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

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