Other Real Estate Owned |
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Other Real Estate Owned | OTHER REAL ESTATE OWNED Information with respect to the Company’s other real estate owned follows:
There were no write-downs during 2021. Write-downs of $0.1 million and $0.9 million during 2020 and 2019, respectively, were adjustments based on internal evaluations and other sources, including management estimates of the current fair value of properties, and adjustments directly related to receipt of updated appraisals. The carrying value of foreclosed residential real estate properties included in other real estate owned was $0.2 million as of December 31, 2021 and zero as of December 31, 2020. The Company had recorded investments in consumer mortgage loans secured by residential real estate for which formal foreclosure proceedings were in process of foreclosure of $0.2 million and $0.2 million as of December 31, 2021 and December 31, 2020, respectively.
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