OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS

3 Months Ended

Mar. 31, 2019

Real Estate [Abstract]

OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS

8. OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS

Real estate owned and other repossessed assets at March 31, 2019 and December 31, 2018 were as follows:

	March 31, 2019			December 31, 2018
	(Dollars in thousands)
Real estate owned and other repossessed assets	$	1,498		$	1,396
Valuation allowance		(318	)		(308	)
End of period	$	1,180		$	1,088

Activity in the valuation allowance was as follows:

	Three Months Ended
	March 31, 2019			March 31, 2018
	(Dollars in thousands)
Beginning of period	$	308		$	403
Additions charged to expense		19			23
Sales of real estate owned with a valuation allowance		(9	)		(139	)
End of period	$	318		$	287

Expenses related to foreclosed and repossessed assets include:

	Three Months Ended
	March 31, 2019		March 31, 2018
	(Dollars in thousands)
Net loss on sales	$	12	$	55
Provision for unrealized losses		19		23
Operating expenses, net of rental income		39		36
Total expenses	$	70	$	114