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OTHER REAL ESTATE OWNED | 9 Months Ended
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Sep. 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 September 30, |  | Nine Months Ended September 30,
(Dollars in Thousands) | 2019 |  | 2018 |  | 2019 |  | 2018
Beginning Balance | $ | 1,010 |  | $ | 3,373 |  | $ | 2,229 |  | $ | 3,941
Additions |  | 104 |  |  | 420 |  |  | 792 |  |  | 1,260
Valuation Write-downs |  | (35) |  |  | (224) |  |  | (266) |  |  | (856)
Sales |  | (553) |  |  | (849) |  |  | (2,229) |  |  | (1,625)
Ending Balance | $ | 526 |  | $ | 2,720 |  | $ | 526 |  | $ | 2,720
Net expenses applicable to other real estate owned include the following:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(Dollars in Thousands) | 2019 |  | 2018 |  | 2019 |  | 2018
Gains from the Sale of Properties | $ | (148) |  | $ | (46) |  | $ | (240) |  | $ | (127)
Losses from the Sale of Properties |  | 73 |  |  | 70 |  |  | 139 |  |  | 212
Rental Income from Properties |  | - |  |  | (3) |  |  | (3) |  |  | (9)
Property Carrying Costs |  | 46 |  |  | 102 |  |  | 282 |  |  | 289
Valuation Adjustments |  | 35 |  |  | 224 |  |  | 266 |  |  | 856
Total | $ | 6 |  | $ | 347 |  | $ | 444 |  | $ | 1,221
A t September 30, 2019, the Company had $0.8 million of loans secured by residential real estate in the process of foreclosure.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 35 -Paragraph 43 -URI http://asc.fasb.org/extlink&oid=29634951&loc=d3e1739-110224 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 40 -Section 40 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=114775070&loc=d3e18511-111553 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=82891408&loc=d3e4437-111522 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(8)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 35 -Paragraph 17 -URI http://asc.fasb.org/extlink&oid=29634951&loc=d3e1424-110224 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(10)(4)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 40 -Section 40 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=114775070&loc=d3e18551-111553 + Details
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