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Other Real Estate Owned and Repossessed Assets
 12 Months Ended
Dec. 31, 2018
Other Real Estate [Abstract]  
Other Real Estate Owned and Repossessed Assets
Other Real Estate Owned and Repossessed Assets
 
Changes in other real estate owned and repossessed assets, included in interest receivable and other assets on the Consolidated Statements of Financial Position, were as follows:
(Dollars in thousands)
 
Other real estate
 owned
 
Repossessed
assets
Balance at January 1, 2016
 
$
9,716

 
$
219

Additions due to acquisitions
 
13,227

 
313

Other additions(1)
 
9,938

 
3,032

Net payments received
 
(1,560
)
 
(763
)
Disposals
 
(13,873
)
 
(2,426
)
Write-downs
 
(636
)
 
—

Balance at December 31, 2016
 
$
16,812

 
$
375

Other additions(1)
 
6,905

 
4,641

Net payments received
 
(1,064
)
 
—

Disposals
 
(12,831
)
 
(4,391
)
Write-downs
 
(1,640
)
 
—

Balance at December 31, 2017
 
$
8,182

 
$
625

Transfers based on adoption of ASU 2014-09 (2)
 
(189
)
 
—

Other additions(1)
 
7,179

 
4,307

Net payments received
 
(249
)
 
—

Disposals
 
(7,825
)
 
(4,508
)
Write-downs
 
(1,266
)
 
—

Balance at December 31, 2018
 
$
5,832

 
$
424

(1) 
Includes loans transferred to other real estate owned and other repossessed assets.
(2) 
In accordance with the updates to Topic 606 adopted by the Corporation effective January 1, 2018, $1.1 million of other real estate owned sold with seller financing were reclassified on the Consolidated Statements of Financial Position to loans and the related $0.9 million of deferred gains were recognized in income as an adjustment to opening retained earnings. Refer to Note 1, Summary of Significant Accounting Policies for further information.

At December 31, 2018, the Corporation had $1.3 million of other real estate owned and repossessed assets as a result of obtaining physical possession in accordance with ASU No. 2014-04, Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans Upon Foreclosure. In addition, there were $4.5 million of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process, as of December 31, 2018.    
Income and expenses related to other real estate owned and repossessed assets, recorded as a component of "Other" operating expenses in the Consolidated Statements of Income, were as follows:
(Dollars in thousands)
 
Other real estate
 owned
 
Repossessed
assets
For the year ended December 31, 2018
 
 

 
 

Net gain (loss) on sale
 
$
1,372

 
$
(309
)
Write-downs
 
(1,266
)
 
—

Net operating expenses
 
(858
)
 
(5
)
Total
 
$
(752
)
 
$
(314
)
For the year ended December 31, 2017
 
 
 
 
Net gain (loss) on sale
 
$
3,038

 
$
(381
)
Write-downs
 
(1,640
)
 
—

Net operating expenses
 
(1,981
)
 
(41
)
Total
 
$
(583
)
 
$
(422
)
For the year ended December 31, 2016
 
 
 
 
Net gain on sale
 
$
5,325

 
$
523

Write-downs
 
(636
)
 
—

Net operating expenses
 
(740
)
 
(60
)
Total
 
$
3,949

 
$
463