Other Real Estate Owned

3 Months Ended

Mar. 31, 2019

Real Estate [Abstract]

Other Real Estate Owned

Other Real Estate Owned

(In Thousands)

The following table provides details of the Company’s other real estate owned (“OREO”) purchased and non purchased, net of

valuation allowances and direct write-downs, as of the dates presented:

	Purchased OREO		Non Purchased OREO		Total OREO
March 31, 2019
Residential real estate	$	887	$	1,764	$	2,651
Commercial real estate	2,317		1,391		3,708
Residential land development	675		420		1,095
Commercial land development	2,053		648		2,701
Total	$	5,932	$	4,223	$	10,155
December 31, 2018
Residential real estate	$	423	$	1,910	$	2,333
Commercial real estate	2,686		1,611		4,297
Residential land development	678		421		1,099
Commercial land development	2,400		911		3,311
Total	$	6,187	$	4,853	$	11,040

Changes in the Company’s purchased and non purchased OREO were as follows:

	Purchased OREO			Non Purchased OREO			Total OREO
Balance at January 1, 2019	$	6,187		$	4,853		$	11,040
Transfers of loans	509			376			885
Impairments	(523		)	(204		)	(727		)
Dispositions	(241		)	(802		)	(1,043		)
Balance at March 31, 2019	$	5,932		$	4,223		$	10,155

Components of the line item “Other real estate owned” in the Consolidated Statements of Income were as follows for the periods presented:

	Three Months Ended
	March 31,
	2019			2018
Repairs and maintenance	$	95		$	113
Property taxes and insurance	107			112
Impairments	727			352
Net losses on OREO sales	80			96
Rental income	(5		)	(16		)
Total	$	1,004		$	657