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Other Real Estate Owned (Notes) | 12 Months Ended
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Dec. 31, 2020
Real Estate [Abstract] |
Real Estate Owned | NOTE 24. Other Real Estate Owned The following table is a summary of other real estate owned (OREO) activity for the twelve months ended December 31, 2020 and 2019:
|  | Year Ended |  |  | Year Ended |
|  | December 31, |  |  | December 31, |
|  | 2020 |  |  | 2019 |
Balance, beginning |  | $ | 183 |  |  | $ | 106 |
Net loans transferred to OREO |  |  | 441 |  |  |  | 1,151 |
Gain on foreclosure |  |  | 166 |  |  |  | 192 |
Sales |  |  | (183 | ) |  |  | (1,266 | )
Balance, ending |  | $ | 607 |  |  | $ | 183 |
The major classifications of other real estate owned in the consolidated balance sheets at December 31, 2020 and 2019 were as follows:
|  | As of |
|  | December 31, 2020 |  |  | December 31, 2019 |
|  | (in thousands) |
Construction and Farmland |  | $ | — |  |  | $ | — |
Residential Real Estate |  |  | 165 |  |  |  | 183 |
Commercial Real Estate |  |  | 442 |  |  |  | — |
Subtotal |  | $ | 607 |  |  | $ | 183 |
Less valuation allowance |  |  | — |  |  |  | — |
Total |  | $ | 607 |  |  | $ | 183 |
There was one consumer mortgage loan totaling $68 thousand collateralized by residential real estate in the process of foreclosure at December 31, 2020. There were two consumer mortgage loans totaling $334 thousand collateralized by residential real estate in the process of foreclosure at December 31, 2019.

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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=121593590&loc=d3e4437-111522 + Details
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