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Real Estate Owned
 12 Months Ended
Dec. 31, 2020
Repossessed Assets [Abstract]  
Real Estate Owned Real Estate Owned
A summary of the activity in the balance of real estate owned follows:
Year ended December 31,
(in thousands)20202019
Beginning balance, net$2,541 $2,280 
Additions/transfers from loans766 1,249 
Dispositions/sales(513)(1,090)
Valuation adjustments50 102 
Ending balance, net$2,844 $2,541 
Ending valuation allowance$(22)$(139)
Ending number of foreclosed assets7 6 
Proceeds from sale of real estate owned$570 $1,336 
Gain on sale of real estate owned$57 $246 
At December 31, 2020, the balance of real estate owned includes 4 foreclosed residential real estate properties recorded as a result of obtaining physical possession of the property. At December 31, 2020, there were no residential real estate properties with formal foreclosure proceedings underway