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Other Real Estate Owned
 3 Months Ended
Mar. 31, 2021
Other Real Estate Owned [Abstract]  
Other Real Estate Owned Foreclosed and Repossessed Assets
Park typically transfers a loan to OREO at the time that Park takes deed/title to the real estate property asset. The carrying amounts of foreclosed real estate properties held at March 31, 2021 and December 31, 2020 are listed below, as well as the recorded investment of loans secured by residential real estate properties for which formal foreclosure proceedings were in process at those dates.

(in thousands)March 31, 2021December 31, 2020
OREO:
Commercial real estate$31 $625 
Construction real estate— — 
Residential real estate813 806 
Total OREO$844 $1,431 
Loans in process of foreclosure:
Residential real estate$1,129 $1,643 
In addition to real estate, Park may also repossess different types of collateral. As of March 31, 2021 and December 31, 2020, Park had $3.8 million and $3.6 million, respectively, in other repossessed assets which are included in "Other assets" on the Consolidated Condensed Balance Sheets. As of both dates presented, the other repossessed assets largely consisted of an aircraft acquired as part of a loan workout.