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Other Real Estate and Repossessed Assets Acquired in Settlement of Loans | 12 Months Ended
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Dec. 31, 2018
Other Real Estate and Repossessed Assets Acquired in Settlement of Loans |
Other Real Estate and Repossessed Assets Acquired in Settlement of Loans | (3) Other Real Estate and Repossessed Assets Acquired in Settlement of Loans
(in thousands) |  | 2018 |  | 2017
Commercial |  | $ | 1,168 |  | $ | 727
Real estate construction - residential |  |  | 179 |  |  | —
Real estate construction - commercial |  |  | 12,101 |  |  | 12,380
Real estate mortgage - residential |  |  | 336 |  |  | 382
Real estate mortgage - commercial |  |  | 2,909 |  |  | 2,909
Repossessed assets |  |  | — |  |  | 5
Total |  | $ | 16,693 |  | $ | 16,403
Less valuation allowance for other real estate owned |  |  | (3,002) |  |  | (3,221)
Total other real estate and repossessed assets |  | $ | 13,691 |  | $ | 13,182
Changes in the net carrying amount of other real estate owned and repossessed assets were as follows:
Balance at December 31, 2016 |  | $ | 17,291
Additions |  |  | 374
Proceeds from sales |  |  | (1,115)
Charge-offs against the valuation allowance for other real estate owned, net |  |  | (192)
Net gain on sales |  |  | 45
Balance at December 31, 2017 |  |  | 16,403
Additions |  |  | 1,106
Proceeds from sales |  |  | (585)
Charge-offs against the valuation allowance for other real estate owned, net |  |  | (245)
Net gain on sales |  |  | 14
Total other real estate and repossessed assets |  | $ | 16,693
Less valuation allowance for other real estate owned |  |  | (3,002)
Balance at December 31, 2018 |  | $ | 13,691
At December 31, 2018, $200,000 of consumer mortgage loans secured by residential real estate properties were in the process of foreclosure compared to no loans in the process of foreclosure at December 31, 2017. Activity in the valuation allowance for other real estate owned in settlement of loans for the years ended December 31, 2018, 2017 and 2016, respectively, is summarized as follows:
(in thousands) |  | 2018 |  | 2017 |  | 2016
Balance, beginning of period |  | $ | 3,221 |  | $ | 3,129 |  | $ | 3,233
Provision for other real estate owned |  |  | 26 |  |  | 284 |  |  | 213
Charge-offs |  |  | (245) |  |  | (192) |  |  | (317)
Balance, end of period |  | $ | 3,002 |  | $ | 3,221 |  | $ | 3,129

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 35 -Paragraph 43 -URI http://asc.fasb.org/extlink&oid=29634951&loc=d3e1739-110224 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 40 -Section 40 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=114775070&loc=d3e18511-111553 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=82891408&loc=d3e4437-111522 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(8)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 35 -Paragraph 17 -URI http://asc.fasb.org/extlink&oid=29634951&loc=d3e1424-110224 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(10)(4)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 40 -Section 40 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=114775070&loc=d3e18551-111553 + Details
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