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Other Real Estate Owned
 12 Months Ended
Dec. 31, 2019
Banking And Thrift [Abstract]  
Other Real Estate Owned

NOTE 6 – OTHER REAL ESTATE OWNED

The following table presents activity in other real estate owned:

 

 

 

Years Ended December 31,

 

(dollars in thousands)

 

2019

 

 

2018

 

 

2017

 

Balance at beginning of period

 

$

3,232

 

 

$

8,810

 

 

$

18,546

 

Additions (1)

 

 

1,192

 

 

 

2,025

 

 

 

4,016

 

Sales

 

 

(2,077

)

 

 

(6,689

)

 

 

(11,160

)

Impairments

 

 

(178

)

 

 

(914

)

 

 

(2,592

)

Balance at end of period (2)

 

$

2,169

 

 

$

3,232

 

 

$

8,810

 

 

(1)

Additions in 2018 include other real estate owned of $1.0 million acquired from Klein in November 2018.  Additions in 2017 include other real estate owned of $1.1 million acquired from Anchor (MN) in November 2017.

 

 

(2)

Includes repossessed personal property of $0.4 million at December 31, 2019 and $0.3 million at December 31, 2018.

 

Foreclosed residential real estate property recorded as a result of obtaining physical possession of the property included in the table above totaled $0.5 million at December 31, 2019 and $1.3 million at December 31, 2018.  Consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process totaled $3.7 million at December 31, 2019 and $4.9 million at December 31, 2018.