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Other Real Estate and Repossessed Assets
 3 Months Ended
Mar. 31, 2018
Other Real Estate [Abstract]  
Other Real Estate and Repossessed Assets
(3) Other Real Estate and Repossessed Assets

 

    March 31,     December 31,  
(in thousands)   2018     2017  
Commercial   $ 727     $ 727  
Real estate construction - residential     179       0  
Real estate construction - commercial     12,101       12,380  
Real estate mortgage - residential     348       382  
Real estate mortgage - commercial     2,909       2,909  
Repossessed assets     0       5  
Total   $ 16,264     $ 16,403  
Less valuation allowance for other real estate owned     (3,025 )     (3,221 )
Total other real estate and repossessed assets   $ 13,239     $ 13,182  

 

Changes in the net carrying amount of other real estate and repossessed assets were as follows for the periods indicated:

 

    Three Months Ended March 31,  
    2018     2017  
Balance at beginning of period   $ 16,403     $ 17,291  
Additions     278       103  
Proceeds from sales     (224 )     (658 )
Charge-offs against the valuation allowance for other real estate owned, net     (195 )     (117 )
Net gain on sales     2       50  
Total other real estate and repossessed assets   $ 16,264     $ 16,669  
Less valuation allowance for other real estate owned     (3,025 )     (3,044 )
Balance at end of period   $ 13,239     $ 13,625  

 

At March 31, 2018, $27,000 of consumer mortgage loans secured by residential real estate properties were in the process of foreclosure compared to no loans at December 31, 2017.

 

Activity in the valuation allowance for other real estate owned was as follows for the periods indicated:

 

    Three Months Ended March 31,  
(in thousands)   2018     2017  
Balance, beginning of period   $ 3,221     $ 3,129  
Provision for other real estate owned     (1 )     32  
Charge-offs     (195 )     (117 )
Balance, end of period   $ 3,025     $ 3,044