Other Real Estate Owned

6 Months Ended

Jun. 30, 2021

Other Real Estate [Abstract]

Other Real Estate Owned

NOTE F - OTHER REAL ESTATE OWNED

The following table explains changes in other real estate owned (“OREO”) during the six months ended June 30, 2021 and 2020:

(Dollars in thousands)	OREO
Balance at December 31, 2020	$	50,890
Additions	11,340
Sales	(16,600)
Write-downs/losses	(1,945)
Balance at June 30, 2021	$	43,685
Balance at December 31, 2019	$	46,591
Additions	9,184
Acquired in business combinations	9,813
Sales	(9,497)
Write-downs/losses	(2,241)
Balance at June 30, 2020	$	53,850

At June 30, 2021 and December 31, 2020, BancShares had $6.1 million and $5.8 million, respectively, of foreclosed residential real estate property in OREO. The recorded investment in consumer mortgage loans collateralized by residential real estate property in the process of foreclosure was $27.1 million and $29.4 million at June 30, 2021 and December 31, 2020, respectively. Net gains recorded on the sale of OREO properties were $3.8 million for the six months ended June 30, 2021. Net losses recorded on the sale of OREO properties were $0.2 million for the six months ended June 30, 2020