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Other Real Estate Owned, Net
 6 Months Ended
Jun. 30, 2021
Other Real Estate Owned, Net [Abstract]  
Other Real Estate Owned, Net

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Note 6 - Other Real Estate Owned, net

The following table presents the components of other real estate owned (“OREO”) at June 30, 2021 and December 31, 2020:

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(in thousands)

    

June 30,
2021

    

December 31,
2020

Commercial real estate

​

$

900

​

$

945

Acquisition and development

​

​

5,856

​

​

8,441

Residential mortgage

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​

—

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​

—

Total OREO, net

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$

6,756

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$

9,386

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The following table presents the activity in the OREO valuation allowance for the six and three month periods ended June 30, 2021 and 2020:

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Six Months Ended

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Three Months Ended

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​

June 30,

​

June 30,

(in thousands)

    

2021

    

2020

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2021

​

2020

Balance beginning of period

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$

1,010

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$

1,790

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$

1,004

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$

1,780

Fair value adjustment

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​

(160)

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​

39

​

​

(164)

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​

13

Sales of OREO

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​

(307)

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​

(95)

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​

(297)

​

​

(59)

Balance at end of period

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$

543

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$

1,734

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$

543

​

$

1,734

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The following table presents the components of OREO (income)/expenses, net, for the six and three month periods ended June 30, 2021 and 2020:

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Six Months Ended

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Three Months Ended

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​

June 30,

​

June 30,

(in thousands)

    

2021

    

2020

​

2021

​

2020

Gains on sale of real estate, net

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$

(596)

​

$

(21)

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$

(105)

​

$

(11)

Fair value adjustment, net

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​

(160)

​

​

39

​

​

(164)

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​

13

Expenses, net

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​

195

​

​

65

​

​

72

​

​

31

Rental and other income

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​

(49)

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​

(86)

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​

(1)

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​

(36)

Total OREO income, net

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$

(610)

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$

(3)

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$

(198)

​

$

(3)

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