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Other Real Estate Owned

12 Months Ended

Dec. 31, 2018

Real Estate [Abstract]

Other Real Estate Owned

Note 7 – Other Real Estate Owned 

The activity within OREO for the years ended December 31, 2018 and 2017 is presented in the table below. There was one residential real estate loan totaling $487 thousand in the process of foreclosure as of December 31, 2018. For the year ended December 31, 2018, there were no sales of OREO, as compared to December 31, 2017, the proceeds on sales of OREO were $2.1 million resulting from the sale of three foreclosed properties, respectively. For the year ended December 31, 2018, there were no sales of OREO compared to a net loss on sales of OREO of $301 thousand for the year ended December 31, 2017.

		Year Ended December 31,
(dollars in thousands)		2018				2017
Balance at January 1,		$	1,394			$	2,694
Real estate acquired from borrowers			—				1,145
Properties sold			—				(2,445	)
Ending balance		$	1,394			$	1,394

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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.

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