Other Real Estate Owned

12 Months Ended

Dec. 31, 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
December 31, 2021
Residential real estate	$	93	$	166	$	259
Commercial real estate	39		722		761
Residential land development	301		4		305
Commercial land development	1,156		59		1,215
Total	$	1,589	$	951	$	2,540
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 for the periods presented:

	Purchased OREO		Non Purchased OREO		Total OREO
Balance at December 31, 2019	$	5,248	$	2,762	$	8,010
Transfers of loans	4,058		4,530		8,588
Impairments	(1,581)		(579)		(2,160)
Dispositions	(3,747)		(4,668)		(8,415)
Other	(51)		—		(51)
Balance at December 31, 2020	$	3,927	$	2,045	$	5,972
Transfers of loans	1,056		2,124		3,180
Impairments	(220)		(86)		(306)
Dispositions	(3,043)		(3,123)		(6,166)
Other	(131)		(9)		(140)
Balance at December 31, 2021	$	1,589	$	951	$	2,540

At December 31, 2021 and 2020, the amortized cost of loans secured by Real Estate - 1-4 Family Mortgage in the process of foreclosure was $22 and $1,308, respectively.

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

	December 31,
	2021		2020		2019
Repairs and maintenance	$	79	$	279	$	326
Property taxes and insurance	69		364		343
Impairments	306		2,160		1,265
Net (gains) losses on OREO sales	(176)		(23)		94
Rental income	(25)		(26)		(15)
Total	$	253	$	2,754	$	2,013