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Note 7 - Other Real Estate Owned
 12 Months Ended
Dec. 31, 2020
Notes to Financial Statements  
Real Estate Owned [Text Block]

Note 7 – Other Real Estate Owned

 

Other real estate owned represents residential and commercial properties primarily owned as a result of loan collection activities and is reported net of a valuation allowance. Activity within other real estate owned was as follows:

 

(Dollars in thousands)

 

2020

  

2019

  

2018

 
             

Balance, beginning of year

 $929  $102  $106 

Transfers from loans

  391   347   432 

Additions from merger

  346   1,364   - 

Proceeds from sales

  (1,384)  (938)  (515)
Write-downs  (80)  -   - 

Gains on sales

  64   54   79 

Balance, end of year

 $266  $929  $102 

 

Included in the balances above were residential real estate mortgage loans of $61,000, $175,000, and $102,000 as of December 31, 2020, 2019, and 2018, respectively, and $205,000 and $754,000 of commercial real estate loans as of December 31, 2020 and December 31, 2019, respectively.