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Other Real Estate Owned (Tables)
12 Months Ended
Dec. 31, 2020
Real Estate [Abstract]  
Other Real Estate

The following table is a summary of other real estate owned (OREO) activity for the twelve months ended December 31, 2020 and 2019:

 

 

 

Year Ended

 

 

Year Ended

 

 

 

December 31,

 

 

December 31,

 

 

 

2020

 

 

2019

 

Balance, beginning

 

$

183

 

 

$

106

 

Net loans transferred to OREO

 

 

441

 

 

 

1,151

 

Gain on foreclosure

 

 

166

 

 

 

192

 

Sales

 

 

(183

)

 

 

(1,266

)

Balance, ending

 

$

607

 

 

$

183

 

Schedule of Real Estate Properties

The major classifications of other real estate owned in the consolidated balance sheets at December 31, 2020 and 2019 were as follows:

 

 

 

As of

 

 

 

December 31, 2020

 

 

December 31, 2019

 

 

 

(in thousands)

 

Construction and Farmland

 

$

 

 

$

 

Residential Real Estate

 

 

165

 

 

 

183

 

Commercial Real Estate

 

 

442

 

 

 

 

Subtotal

 

$

607

 

 

$

183

 

Less valuation allowance

 

 

 

 

 

 

Total

 

$

607

 

 

$

183