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Other Real Estate Owned

12 Months Ended

Dec. 31, 2019

Other Real Estate Owned

Other Real Estate Owned

Note 8 – Other Real Estate Owned

The activity within OREO for the years ended December 31, 2019 and 2018 is presented in the table below. There were two residential real estate loans totaling $4.0 million in the process of foreclosure as of December 31, 2019. For the year ended December 31, 2019 and 2018, there were no sales of OREO.

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​	​	​	​	​	​	​
​	​	Years Ended December 31,
(dollars in thousands)		2019			2018
Beginning Balance	​	$	1,394	​	$	1,394
Real estate acquired from borrowers	​		93	​		—
Properties sold	​		—	​		—
Ending Balance	​	$	1,487	​	$	1,394

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- 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

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=118952595&loc=d3e4437-111522

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