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Other Real Estate Owned
12 Months Ended
Dec. 31, 2018
Other Real Estate Owned [Abstract]  
Other Real Estate Owned

Note 6 - Other real estate owned

At December 31, 2018 and 2017, OREO was $2,430 and $2,650 respectively. OREO is primarily comprised of residential properties and non-residential properties associated with commercial relationships. As of December 31, 2018 and 2017 respectively, there were no consumer mortgage loans secured by residential real estate that were in the process of foreclosure.  The following table represents the changes in OREO balance in 2018 and 2017.



 

 

OREO Changes



Year Ended December 31,



2018

2017

Balance at the beginning of the year

$2,650  $2,370 

Transfers from Loans

850  815 

Capitalized costs

-

40 

Valuation adjustments

(185) (60)

Sales

(846) (514)

Gain (loss) on sales

(39) (1)

Balance at the end of the year

$2,430  $2,650 



There were four residential properties being carried in OREO at a value of $156 as of December 31, 2018.  There were three residential properties being carried in OREO at a value of $520 as of December 31, 2017.