Other Real Estate Owned

12 Months Ended

Dec. 31, 2022

Other Real Estate Owned

Other Real Estate Owned

Note 6: Other Real Estate Owned

Details related to the activity in the other real estate owned (“OREO”) portfolio, net of valuation reserve, for the periods presented are itemized in the following table.

	Twelve Months Ended
	December 31,
Other real estate owned	2022		2021		2020
Balance at beginning of period	$	2,356	$	2,474	$	5,004
Property additions, net of acquisition adjustments		87		5,748		898
Less:
Proceeds from property disposals, net of participation purchase and gains/losses		778		5,787		3,071
Period valuation write-down		104		79		357
Balance at end of period	$	1,561	$	2,356	$	2,474

Activity in the valuation allowance was as follows:

	Twelve Months Ended
	December 31,
	2022		2021		2020
Balance at beginning of period	$	1,179	$	1,643	$	6,712
Provision for unrealized losses		104		79		357
Reductions taken on sales		(427)		(543)		(5,426)
Balance at end of period	$	856	$	1,179	$	1,643

Expenses related to OREO, net of lease revenue includes:

	Twelve Months Ended
	December 31,
	2022		2021		2020
Gain on sales, net	$	(163)	$	(41)	$	(204)
Provision for unrealized losses		104		79		357
Operating expenses		193		133		535
Less:
Lease revenue		4		4		37
Net OREO expense	$	130	$	167	$	651