Other Real Estate Owned

6 Months Ended

Jun. 30, 2021

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, 2021
Residential real estate	$	197	$	64	$	261
Commercial real estate	1,048		1,548		2,596
Residential land development	337		4		341
Commercial land development	1,682		59		1,741
Total	$	3,264	$	1,675	$	4,939
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	967		1,536		2,503
Impairments	(47)		(70)		(117)
Dispositions	(1,492)		(1,836)		(3,328)
Other	(91)		—		(91)
Balance at June 30, 2021	$	3,264	$	1,675	$	4,939

At June 30, 2021 and December 31, 2020, the amortized cost of loans secured by Real Estate - 1-4 Family Mortgage in the process of foreclosure was $58 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				Six Months Ended
	June 30,				June 30,
	2021		2020		2021		2020
Repairs and maintenance	$	22	$	85	$	42	$	170
Property taxes and insurance	37		16		48		149
Impairments	47		630		117		827
Net losses (gains) on OREO sales	6		(101)		(50)		(89)
Rental income	(8)		(10)		(12)		(19)
Total	$	104	$	620	$	145	$	1,038