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Other Real Estate Owned
 6 Months Ended
Jun. 30, 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 and six months ended June 30, 2020 and 2019:
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
 
2020
 
2019
 
2020
 
2019
 
 
(in thousands)
Balance, beginning of period
 
$
510

 
$
6,075

 
$
552

 
$
6,019

Transfers in
 
558

 
—

 
558

 
386

Valuation adjustments
 
—

 
—

 
—

 
(195
)
Proceeds from sale of OREO property
 
(303
)
 
(5,673
)
 
(345
)
 
(5,794
)
Gain (loss) on sale of OREO, net
 
(18
)
 
716

 
(18
)
 
702

Balance, end of period
 
$
747

 
$
1,118

 
$
747

 
$
1,118


At June 30, 2020, there were $60 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 $451 thousand.