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Other Real Estate Owned

6 Months Ended

Jun. 30, 2020

Other Real Estate Owned

Other Real Estate Owned

Note 8. Other Real Estate Owned

The activity within Other Real Estate Owned (“OREO”) for the three and six months ended June 30, 2020 and 2019 (unaudited) is presented in the table below. There were no residential real estate loans in the process of foreclosure as of June 30, 2020. For the three and six months ended June 30, 2020 and 2019, there were no sales of OREO property.

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​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	Three Months Ended June 30,					​	Six Months Ended June 30,
(dollars in thousands)	​	2020			2019			2020			2019
Beginning Balance	​	$	8,237	​	$	1,394	​	$	1,487	​	$	1,394
Real estate acquired from borrowers	​		—	​		—	​		6,750	​		—
Properties sold	​		—	​		—	​		—	​		—
Ending Balance	​	$	8,237	​	$	1,394	​	$	8,237	​	$	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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