OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS

9 Months Ended

Sep. 30, 2019

Real Estate [Abstract]

OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS

8. OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS

Real estate owned and other repossessed assets at September 30, 2019 and December 31, 2018 were as follows:

	September 30, 2019			December 31, 2018
	(Dollars in thousands)
Real estate owned and other repossessed assets	$	1,118		$	1,396
Valuation allowance		(170	)		(308	)
End of period	$	948		$	1,088

Activity in the valuation allowance was as follows:

	Three Months Ended					For the nine months ended
	September 30, 2019			September 30, 2018		September 30, 2019			September 30, 2018
	(Dollars in thousands)
Beginning of period	$	158		$	248	$	308		$	403
Additions charged to expense		26			49		62			82
Sales of real estate owned with a valuation    allowance		(14	)		—		(200	)		(188	)
End of period	$	170		$	297	$	170		$	297

Expenses related to foreclosed and repossessed assets include:

	Three Months Ended					For the nine months ended
	September 30, 2019		September 30, 2018			September 30, 2019		September 30, 2018
	(Dollars in thousands)
Net loss on sales	$	29	$	(4	)	$	57	$	154
Provision for unrealized losses		26		49			62		82
Operating expenses, net of rental income		39		25			95		95
Total expenses	$	94	$	70		$	214	$	331