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Other Real Estate Owned, Net
 9 Months Ended
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