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Note 7 - Other Real Estate Owned

12 Months Ended

Dec. 31, 2021

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)	2021			2020			2019

Balance, beginning of year	$	266		$	929		$	102
Transfers from loans		520			391			347
Additions from merger		-			346			1,364
Proceeds from sales		(611	)		(1,384	)		(938	)
Write-downs		-			(80	)		-
Gains on sales		19			64			54
Balance, end of year	$	194		$	266		$	929

Included in the balances above were residential real estate mortgage loans of $80,000, $61,000, and $175,000 as of December 31, 2021, 2020, and 2019, respectively, and $114,000, $205,000, and $754,000 of commercial real estate loans as of December 31, 2021, 2020, and 2019 respectively.