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Other Real Estate Owned | 12 Months Ended
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Dec. 31, 2019
Other Real Estate Owned |
Other Real Estate Owned | NOTE 6: OREO At December 31, 2019 and 2018, the carrying amount of OREO was $1.10 million and $246,000, respectively. At December 31, 2019, OREO was primarily comprised of a property in Midlothian, Virginia previously used by the Bank as its Bellgrade branch, which was consolidated into a nearby branch in 2019. OREO is otherwise comprised of residential properties and non-residential properties associated with commercial relationships, and are located primarily in Virginia. Changes in the balance for OREO are as follows:
|  | Year Ended December 31, |
(Dollars in thousands) |  | 2019 |  | 2018 |
Balance at the beginning of year, gross |  | $ | 303 |  | $ | 225 |
Additions |  |  | 1,401 |  |  | 98 |
Sales proceeds |  |  | (521) |  |  | (18) |
Gain (loss) on disposition |  |  | 8 |  |  | (2) |
Balance at the end of year, gross |  |  | 1,191 |  |  | 303 |
Less valuation allowance |  |  | (88) |  |  | (57) |
Balance at the end of year, net |  | $ | 1,103 |  | $ | 246 |
Changes in the allowance for OREO losses are as follows:
|  | Year Ended December 31, |
(Dollars in thousands) |  | 2019 |  | 2018 |  | 2017 |
Balance at the beginning of year |  | $ | 57 |  | $ | 57 |  | $ | 86 |
Provision for losses |  |  | 31 |  |  | — |  |  | — |
Charge-offs, net |  |  | — |  |  | — |  |  | (29) |
Balance at the end of year |  | $ | 88 |  | $ | 57 |  | $ | 57 |
Other net noninterest expense applicable to OREO, excluding the provision for losses and gain or loss on disposition, was $34,000, $26,000 and $72,000 for the years ended December 31, 2019, 2018 and 2017, respectively.

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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=118952595&loc=d3e4437-111522 + Details
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