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Other Real Estate Owned (Notes)

6 Months Ended

Jun. 30, 2020

NOTE 11. Other Real Estate Owned

The following table is a summary of other real estate owned ("OREO") activity for the six months ended June 30, 2020 and 2019 and the year ended December 31, 2019:



	Six Months Ended			Year Ended			Six Months Ended
	June 30,			December 31,			June 30,
	2020			2019			2019
	(in thousands)
Balance, beginning	$	183		$	106		$	106
Transfers from loans	310			1,151			—
Gain on foreclosure	132			192			—
Sales	(183		)	(1,266		)	(106		)
Valuation adjustments	—			—			—
Balance, ending	$	442		$	183		$	—

The major classifications of other real estate owned in the consolidated balance sheets at June 30, 2020 and December 31, 2019 were as follows:



	As of
	June 30, 2020		December 31, 2019
	(in thousands)
Construction and Farmland	$	—	$	—
Residential Real Estate	—		183
Commercial Real Estate	442		—
Subtotal	$	442	$	183
Less valuation allowance	—		—
Total	$	442	$	183

There were no consumer mortgage loans collateralized by residential real estate in the process of foreclosure at June 30, 2020. There were two consumer mortgage loans totaling $334 thousand collateralized by residential real estate in the process of foreclosure at December 31, 2019.