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REAL ESTATE OWNED, HELD FOR SALE, NET

12 Months Ended

Dec. 31, 2021

The following table presents the changes in REO, net of valuation allowance, for the years ended December 31, 2021, 2020 and 2019 (in thousands):


	Years Ended December 31
	2021		2020		2019
Balance, beginning of period	$	816	$	814	$	2,611
Additions from loan foreclosures	512		1,588		109

Additions from acquisitions	—		—		650
Proceeds from dispositions of REO	(783)		(2,360)		(2,588)
Gain on sale of REO	307		819		32
Valuation adjustments in the period	—		(45)		—
Balance, end of period	$	852	$	816	$	814

The Company had no foreclosed residential real estate properties held as REO at both December 31, 2021 and December 31, 2020. The recorded investment in one- to four-family residential loans in the process of foreclosure was $609,000 at both December 31, 2021 and December 31, 2020.