Other Real Estate Owned

6 Months Ended

Jun. 30, 2020

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
June 30, 2020
Residential real estate	$	361	$	540	$	901
Commercial real estate	1,356		1,158		2,514
Residential land development	533		2,507		3,040
Commercial land development	2,181		489		2,670
Total	$	4,431	$	4,694	$	9,125
December 31, 2019
Residential real estate	$	890	$	415	$	1,305
Commercial real estate	2,106		1,548		3,654
Residential land development	530		369		899
Commercial land development	1,722		430		2,152
Total	$	5,248	$	2,762	$	8,010

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

	Purchased OREO		Non Purchased OREO		Total OREO
Balance at January 1, 2020	$	5,248	$	2,762	$	8,010
Transfers of loans	791		3,468		4,259
Impairments	(588)		(239)		(827)
Dispositions	(1,020)		(1,297)		(2,317)
Balance at June 30, 2020	$	4,431	$	4,694	$	9,125

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				Six Months Ended
	June 30,				June 30,
	2020		2019		2020		2019
Repairs and maintenance	$	85	$	116	$	170	$	211
Property taxes and insurance	16		19		149		126
Impairments	630		140		827		868
Net (gains) losses on OREO sales	(101)		(19)		(89)		60
Rental income	(10)		(4)		(19)		(9)
Total	$	620	$	252	$	1,038	$	1,256