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Other Real Estate Owned, Net | 9 Months Ended
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Sep. 30, 2020
Other Real Estate Owned, Net [Abstract] |
Other Real Estate Owned, Net | Note 7 - Other Real Estate Owned, net The following table presents the components of OREO at September 30, 2020 and December 31, 2019:
(in thousands) |  | September 30, ‎2020 |  | December 31, ‎2019
Commercial real estate |  | $ | 2,256 |  | $ | 2,256
Acquisition and development |  |  | 1,531 |  |  | 1,780
Residential mortgage |  |  | — |  |  | 91
Total OREO, net |  | $ | 3,787 |  | $ | 4,127
The following table presents the activity in the OREO valuation allowance for the nine and three month periods ended September 30, 2020 and 2019:
|  | Nine Months Ended |  | Three Months Ended
|  | September 30, |  | September 30,
(in thousands) |  | 2020 |  | 2019 |  | 2020 |  | 2019
Balance beginning of period |  | $ | 1,790 |  | $ | 1,988 |  | $ | 1,734 |  | $ | 2,013
Fair value write-down |  |  | 102 |  |  | 1,140 |  |  | 63 |  |  | 312
Sales of OREO |  |  | (261) |  |  | (1,159) |  |  | (166) |  |  | (356)
Balance at end of period |  | $ | 1,631 |  | $ | 1,969 |  | $ | 1,631 |  | $ | 1,969
The following table presents the components of OREO expenses, net, for the nine and three month periods ended September 30, 2020 and 2019:
|  | Nine Months Ended |  | Three Months Ended
|  | September 30, |  | September 30,
(in thousands) |  | 2020 |  | 2019 |  | 2020 |  | 2019
Gains on real estate, net |  | $ | (93) |  | $ | (62) |  | $ | (72) |  | $ | (51)
Fair value write-down, net |  |  | 102 |  |  | 1,140 |  |  | 63 |  |  | 312
Expenses, net |  |  | 117 |  |  | 260 |  |  | 52 |  |  | 94
Rental and other income |  |  | (123) |  |  | (72) |  |  | (37) |  |  | (18)
Total OREO expense, net |  | $ | 3 |  | $ | 1,266 |  | $ | 6 |  | $ | 337

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- References No definition available. + Details
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- Definition The entire disclosure for real estate owned (as defined). Generally, the largest component of real estate owned by lenders is assets taken in settlement of troubled loans through surrender or foreclosure. Real estate investments, real estate loans that qualify as investments in real estate, and premises that are no longer used in operations may also be included in real estate owned. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=121593590&loc=d3e4437-111522 + Details
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