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Other Real Estate Owned
 12 Months Ended
Dec. 31, 2018
Other Real Estate Owned [Abstract]  
Other Real Estate Owned

8.Other Real Estate Owned

The following table presents the components of OREO, net of related valuation allowance, as of December 31, 2018 and 2017:





 

 

 

 



 

 

 

 

(in thousands)

2018

2017

Commercial real estate

$

 2,599 

$

 3,605 

Acquisition and development

 

 3,218 

 

 5,295 

Commercial & Industrial

 

 24 

 

 24 

Residential mortgage

 

 757 

 

 1,217 

                 Total OREO

$

 6,598 

$

 10,141 



The following table presents the activity in the OREO valuation allowance for the years ended December 31, 2018 and 2017:







 

 

 

 

(in thousands)

2018

2017

Balance January 1

$

 2,740 

$

 3,535 

Fair value write-down

 

 1,356 

 

 398 

Sales of OREO

 

 (2,108)

 

 (1,193)

Balance December 31

$

 1,988 

$

 2,740 



The following table presents the components of OREO expenses, net, for the years ended December 31, 2018 and 2017:







 

 

 

 



 

(in thousands)

2018

2017

Gains on real estate, net

$

 (260)

$

 (645)

Fair value write-down

 

 1,356 

 

 398 

Expenses, net

 

 486 

 

 616 

Rental and other income

 

 (126)

 

 (179)

    Total OREO expenses, net

$

 1,456 

$

 190