Mortgage Loans Held for Sale

6 Months Ended

Jun. 30, 2021

Receivables Held-for-sale [Abstract]

Mortgage Loans Held For Sale

Loans Held For Sale

Mortgage loans held for sale are carried at their fair value. At June 30, 2021 and December 31, 2020, respectively, Park had $11.9 million and $31.7 million in mortgage loans held for sale. These amounts are included in loans on the Consolidated Condensed Balance Sheets and in the residential real estate loan portfolio segment in Note 5 - Loans, and Note 6 - Allowance for Credit Losses. The contractual balance was $11.7 million and $30.9 million at June 30, 2021 and December 31, 2020, respectively. The gain expected upon sale was $236,000 and $753,000 at June 30, 2021 and December 31, 2020, respectively. None of these loans were 90 days or more past due or on nonaccrual status at June 30, 2021 or December 31, 2020.