Other Real Estate Owned

3 Months Ended

Mar. 31, 2021

Real Estate [Abstract]

Other Real Estate Owned

Other Real Estate Owned

(In Thousands)

The following tables provide 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, 2021
Residential real estate	$	405	$	79	$	484
Commercial real estate	1,161		1,948		3,109
Residential land development	337		4		341
Commercial land development	1,776		261		2,037
Total	$	3,679	$	2,292	$	5,971
December 31, 2020
Residential real estate	$	72	$	107	$	179
Commercial real estate	1,741		924		2,665
Residential land development	337		676		1,013
Commercial land development	1,777		338		2,115
Total	$	3,927	$	2,045	$	5,972

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

	Purchased OREO		Non Purchased OREO		Total OREO
Balance at January 1, 2021	$	3,927	$	2,045	$	5,972
Transfers of loans	516		1,523		2,039
Impairments	—		(70)		(70)
Dispositions	(700)		(1,206)		(1,906)
Other	(64)		—		(64)
Balance at March 31, 2021	$	3,679	$	2,292	$	5,971

At March 31, 2021 and December 31, 2020, the amortized cost of loans secured by Real Estate - 1-4 Family Mortgage in the process of foreclosure was $1,830 and $1,308, respectively.

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,
	2021		2020
Repairs and maintenance	$	20	$	86
Property taxes and insurance	11		133
Impairments	70		197
Net (gains) losses on OREO sales	(56)		12
Rental income	(4)		(10)
Total	$	41	$	418