OTHER REAL ESTATE OWNED

6 Months Ended

Jun. 30, 2020

OTHER REAL ESTATE OWNED

OTHER REAL ESTATE OWNED

NOTE I – OTHER REAL ESTATE OWNED

The following table explains changes in other real estate owned, or OREO, during the six months ended June 30, 2020 and the year ended December 31, 2019:

	Six Months		Six Months
	Ended		Ended
	June 30,		June 30,
	2020		2019
	(Dollars in thousands)
Beginning balance January 1	$	3,533	$	1,088
Sales		—		(77)
Write-downs and loss on sales		(176)		(12)
Transfers		204		469
Ending balance	$	3,561	$	1,468

At June 30, 2020 and December 31, 2019, the Company had $3.6 million and $3.5 million, respectively, of foreclosed residential real estate property in OREO. The Company had two loans with a recorded investment in consumer mortgage loans collateralized by residential real estate property in the process of foreclosure in the aggregate amount of $428,000 at June 30, 2020. At December 31, 2019, the Company had 3 loans with recorded investment in the amount of $114,000 in consumer mortgage loans collateralized by residential real estate property in the process of foreclosure.