OTHER REAL ESTATE HELD FOR SALE

12 Months Ended

Dec. 31, 2019

NOTE 6 — OTHER REAL ESTATE HELD FOR SALE

An analysis of other real estate held for sale for the years ended December 31 is as follows (dollars in thousands):


	2019		2018

Balance, January 1	$	3,119	$	3,558
Other real estate transferred from loans due to foreclosure		1,629		1,878
Other real estate acquired in business combinations		—		263
Proceeds from other real estate sold/ principal reduction		(1,329)		(2,398)
Transfer to premise and equipment		(1,013)		—
Writedowns of other real estate held for sale		(181)		(125)
Gain (loss) on sale of other real estate held for sale		(31)		(57)

Total other real estate held for sale	$	2,194	$	3,119

Foreclosed residential real estate property of $.495 million is included in other real estate as of December 31, 2019. The recorded investment in consumer mortgage loans secured by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdictions was $19,000 as of December 31, 2019.