Other Real Estate Owned

9 Months Ended

Sep. 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 nine months ended September 30, 2021 and 2020:

(Dollars in thousands)	OREO
Balance at December 31, 2020	$	50,890
Additions	16,454
Sales	(24,311)
Write-downs/losses	(2,384)
Balance at September 30, 2021	$	40,649
Balance at December 31, 2019	$	46,591
Additions	18,428
Acquired in business combinations	9,813
Sales	(18,645)
Write-downs/losses	(3,398)
Balance at September 30, 2020	$	52,789

At September 30, 2021 and December 31, 2020, BancShares had $3.0 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 $19.6 million and $29.4 million at September 30, 2021 and December 31, 2020, respectively. Net gains recorded on the sale of OREO properties were $5.2 million for the nine months ended September 30, 2021. Net gains recorded on the sale of OREO properties were $1.0 million for the nine months ended September 30, 2020