Other Real Estate Owned The following table presents activity in OREO for the periods indicated: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | ($ in thousands) | | 2021 | | 2020 | | 2021 | | 2020 | Balance at beginning of period | | $ | 2,336 | | | $ | 376 | | | $ | 1,401 | | | $ | — | | Additions | | — | | | — | | | 1,960 | | | 376 | | Sales | | (2,336) | | | — | | | (3,361) | | | — | | Net change in valuation allowance | | — | | | — | | | — | | | — | | Balance at end of period | | $ | — | | | $ | 376 | | | $ | — | | | $ | 376 | | | | | | | | | | |
The following table presents activity in OREO valuation allowance for the periods indicated: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | ($ in thousands) | | 2021 | | 2020 | | 2021 | | 2020 | Balance at beginning of period | | $ | — | | | $ | — | | | $ | — | | | $ | — | | Additions | | — | | | — | | | — | | | — | | Net direct write-downs and removal from sale | | — | | | — | | | — | | | — | | Balance at end of period | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | | | | | | | | |
The following table presents expenses related to OREOs for the periods indicated: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | ($ in thousands) | | 2021 | | 2020 | | 2021 | | 2020 | Net gain (loss) on sales | | $ | (2) | | | $ | — | | | $ | 73 | | | $ | — | | Operating expenses, net of rental income | | (18) | | | — | | | (81) | | | — | | Total | | $ | (20) | | | $ | — | | | $ | (8) | | | $ | — | | | | | | | | | | |
The Company did not provide loans to finance the sale of its OREO properties during the three and six months ended June 30, 2021 and 2020
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