OTHER REAL ESTATE OWNED

9 Months Ended

Sep. 30, 2019

Other Real Estate [Abstract]

Other Real Estate Owned

NOTE 4 – OTHER REAL ESTATE OWNED

The following table presents other real estate owned activity for the periods indicated.

	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars in Thousands)	2019		2018		2019		2018
Beginning Balance	$	1,010	$	3,373	$	2,229	$	3,941
Additions		104		420		792		1,260
Valuation Write-downs		(35)		(224)		(266)		(856)
Sales		(553)		(849)		(2,229)		(1,625)
Ending Balance	$	526	$	2,720	$	526	$	2,720

Net expenses applicable to other real estate owned include the following:
	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars in Thousands)	2019		2018		2019		2018
Gains from the Sale of Properties	$	(148)	$	(46)	$	(240)	$	(127)
Losses from the Sale of Properties		73		70		139		212
Rental Income from Properties		-		(3)		(3)		(9)
Property Carrying Costs		46		102		282		289
Valuation Adjustments		35		224		266		856
Total	$	6	$	347	$	444	$	1,221

At September 30, 2019, the Company had $0.8 million of loans secured by residential real estate in the process of foreclosure.