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Other Real Estate Owned | 3 Months Ended
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Mar. 31, 2021
Other Real Estate [Abstract] |
Other Real Estate Owned | Note 7 – Other Real Estate Owned The following table presents the number and carrying values of properties included in other real estate owned (“OREO”) as of the dates stated.
|  | March 31, 2021 |  |  | December 31, 2020 |
|  | Number of |  |  | Carrying |  |  | Number of |  |  | Carrying |
|  | Properties |  |  | Value |  |  | Properties |  |  | Value |
Residential |  |  | 1 |  |  | $ | — |  |  |  | 1 |  |  | $ | — |
Land |  |  | 6 |  |  |  | 420 |  |  |  | — |  |  |  | — |
Commercial properties |  |  | 1 |  |  |  | 174 |  |  |  | — |  |  |  | — |
Total other real estate owned |  |  | 8 |  |  | $ | 594 |  |  |  | 1 |  |  | $ | — |
As a result of the Bay Banks Merger, the Company acquired $598 thousand of OREO as of the merger date. As of March 31, 2021, the carrying value of the OREO portfolio totaled $594 thousand. As of December 31, 2020, the Company had one OREO property with a carrying value of $0 that was acquired in 2019 as a result of the merger with Virginia Community Bankshares, Inc. No residential mortgage loans were in the process of foreclosure as of March 31, 2021.

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