FORECLOSED ASSETS

12 Months Ended

Dec. 31, 2020

FORECLOSED ASSETS [Abstract]

FORECLOSED ASSETS

4. FORECLOSED ASSETS

Foreclosed assets activity was as follows:

	2020			2019
Beginning balance	$	1,883		$	2,285
Additions		1,867			3,469
Sales, net		(2,397	)		(3,871	)
Current year valuation write-down		—			—
Ending balance	$	1,353		$	1,883

Activity in the valuation allowance was as follows:

	2020		2019
Beginning balance	$	—	$	325
Current year valuation write-down		—		—
Reductions from sales		—		(325	)
Ending balance	$	—	$	—

Net expenses related to foreclosed assets include:

	2020			2019
Net gain (loss) on sales	$	40		$	(37	)
Current year valuation write-down		—			—
Operating expenses, net of rental income		(75	)		(71	)
Foreclosed assets expense, net	$	(35	)	$	(108	)