Other Real Estate Owned

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Other Real Estate Owned

7.     Other Real Estate Owned

The following table shows changes in Other Real Estate Owned (“OREO”) during the periods indicated:

	For the three months ended				For the six months ended
	June 30,				June 30,
	2020		2019		2020		2019
	(In thousands)
Balance at beginning of period	$	208	$	—	$	239	$	—
Acquisitions		—		239		—		239
Reductions to carrying value		—		—		(31)		—
Balance at end of period	$	208	$	239	$	208	$	239

The following table shows the gross gains, gross losses and write-downs of OREO reported in the Consolidated Statements of Income during the periods indicated:

	For the three months ended				For the six months ended
	June 30,				June 30,
	2020		2019		2020		2019
	(In thousands)
Gross gains	$	—	$	—	$	—	$	—
Gross losses		—		—		—		—
Write-down of carrying value		—		—		(31)		—
Total income	$	—	$	—	$	(31)	$	—

Included within net loans as of June 30, 2020 and December 31, 2019 were $7.2 million and $6.6 million, respectively, of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings were in process according to local requirements of the applicable jurisdiction.