FORECLOSED ASSETS

12 Months Ended

Dec. 31, 2019

FORECLOSED ASSETS [Abstract]

FORECLOSED ASSETS

4.  FORECLOSED ASSETS

Foreclosed assets activity was as follows:

	2019			2018
Beginning balance	$	2,285		$	2,830
Additions		3,469			6,473
Sales, net		(3,871	)		(6,733	)
Current year valuation write-down		—			(285	)
Ending balance	$	1,883		$	2,285

Activity in the valuation allowance was as follows:

	2019			2018
Beginning balance	$	325		$	1,413
Current year valuation write-down		—			285
Reductions from sales		(325	)		(1,373	)
Ending balance	$	—		$	325

Net expenses related to foreclosed assets include:

	2019			2018
Net gain (loss) on sales	$	(37	)	$	108
Current year valuation write-down		—			285
Operating expenses, net of rental income		145			86
Foreclosed assets expense, net	$	108		$	479