Other Real Estate Owned

9 Months Ended

Sep. 30, 2018

Real Estate [Abstract]

Other Real Estate Owned

Note (5)—Other real estate owned:

The amount reported as other real estate owned includes property acquired through foreclosure in addition to excess facilities held for sale and is carried at fair value less estimated cost to sell the property. The following table summarizes other real estate owned for the three and nine months ended September 30, 2018 and 2017:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2018			2017			2018			2017
Balance at beginning of period	$	14,639		$	6,370		$	16,442		$	7,403
Transfers from loans		476			1,796			1,490			2,958
Acquired through merger with Clayton Banks(1)		—			6,888			—			6,888
Properties sold		(1,457	)		(1,152	)		(3,666	)		(4,082	)
Gain on sale of other real estate owned		205			93			213			1,041
Transferred to loans		(191	)		(165	)		(636	)		(201	)
Write-downs		(85	)		(18	)		(256	)		(195	)
Balance at end of period	$	13,587		$	13,812		$	13,587		$	13,812

(1) Includes excess land and facilities held for sale of $4,147 acquired from the Clayton Banks.

Foreclosed residential real estate properties totaled $2,694 and $3,631 as of September 30, 2018 and December 31, 2017, respectively. The recorded investment in residential mortgage loans secured by residential real estate properties for which foreclosure proceedings are in process totaled $324 and $19 at September 30, 2018 and December 31, 2017, respectively.

Other real estate owned also included excess land and facilities held for sale amounting to $5,381 and $5,895 as of September 30, 2018 and December 31, 2017, respectively.