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OTHER REAL ESTATE OWNED | 12 Months Ended
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Dec. 31, 2020
Other Real Estate [Abstract] |
OTHER REAL ESTATE OWNED | 5. OTHER REAL ESTATE OWNED At December 31, 2020 and 2019, the Company had other real estate owned, net of valuation allowances, totaling $50,000. The following table shows the activity in other real estate owned, excluding the valuation allowance, for the years ended December 31:
(In thousands) |  | 2020 |  |  | 2019 |
Balance, beginning of year |  | $ | 50 |  |  | $ | — |
OREO properties added |  |  | — |  |  |  | 386 |
Sales during year |  |  | — |  |  |  | (336 | )
Balance, end of year |  | $ | 50 |  |  | $ | 50 |
The following table shows the activity in the valuation allowance for the years ended December 31:
(In thousands) |  | 2020 |  |  | 2019 |  |  | 2018 |
Balance, beginning of year |  | $ | — |  |  | $ | — |  |  | $ | — |
Additions charged to expense |  |  | — |  |  |  | — |  |  |  | 232 |
Direct writedowns |  |  | — |  |  |  | — |  |  |  | (232 | )
Balance, end of year |  | $ | — |  |  | $ | — |  |  | $ | — |
The following table shows expenses related to other real estate owned for the years ended December 31:
(In thousands) |  | 2020 |  |  | 2019 |  |  | 2018 |
Net loss/(gain) on sales |  | $ | — |  |  | $ | — |  |  | $ | 58 |
Provision for unrealized losses |  |  | — |  |  |  | — |  |  |  | 232 |
Operating expenses, net of rental income |  |  | 22 |  |  |  | 9 |  |  |  | 190 |
Total |  | $ | 22 |  |  | $ | 9 |  |  | $ | 480 |

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- Definition The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 970 -URI http://asc.fasb.org/topic&trid=2156125 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 978 -URI http://asc.fasb.org/topic&trid=2134977 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 976 -URI http://asc.fasb.org/topic&trid=2134846 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 974 -URI http://asc.fasb.org/topic&trid=2156429 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 972 -URI http://asc.fasb.org/topic&trid=2134617 + Details
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