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Other Real Estate Owned
 3 Months Ended
Mar. 31, 2020
Other Real Estate, Foreclosed Assets, and Repossessed Assets [Abstract]  
Other Real Estate Owned
Other Real Estate Owned
The following tables set forth activity in OREO for the three months ended March 31, 2020 and 2019:
 
 
Three Months Ended March 31,
 
 
2020
 
2019
 
 
(in thousands)
Balance, beginning of period
 
$
552

 
$
6,019

Transfers in
 
—

 
386

Valuation adjustments
 
—

 
(195
)
Proceeds from sale of OREO property
 
(42
)
 
(121
)
Loss on sale of OREO, net
 
—

 
(14
)
Balance, end of period
 
$
510

 
$
6,075


At March 31, 2020, there were $311 thousand in foreclosed residential real estate properties held as OREO. The recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings were in process was $330 thousand.