Other Real Estate Owned

9 Months Ended

Sep. 30, 2020

Real Estate Owned, Disclosure of Detailed Components [Abstract]

The following table presents activity in OREO for the periods indicated:


	Three Months Ended September 30,				Nine Months Ended September 30,
($ in thousands)	2020		2019		2020		2019
Balance at beginning of period	$	376	$	395	$	—	$	—
Additions	2,490		—		2,866		395
Sales	(2,490)		(329)		(2,490)		(329)
Net change in valuation allowance	—		(66)		—		(66)
Balance at end of period	$	376	$	—	$	376	$	—

The following table presents activity in OREO valuation allowance for the periods indicated:


	Three Months Ended September 30,				Nine Months Ended September 30,
($ in thousands)	2020		2019		2020		2019
Balance at beginning of period	$	—	$	—	$	—	$	—
Additions	—		66		—		66
Net direct write-downs and removal from sale	—		(66)		—		(66)
Balance at end of period	$	—	$	—	$	—	$	—

The following table presents expenses related to OREOs for the periods indicated:


	Three Months Ended September 30,				Nine Months Ended September 30,
($ in thousands)	2020		2019		2020		2019
Net (gain) loss on sales	$	—	$	—	$	—	$	1
Operating expenses, net of rental income	2		—		2		—
Total	$	2	$	—	$	2	$	1

The Company provided a loan of $1.5 million to finance the sale of its OREO property during the three and nine months ended September 30, 2020. The Company did not provide loans to finance the sale of its OREO property during the three and nine months ended September 30, 2019.