Other Real Estate Owned

6 Months Ended

Jun. 30, 2017

Other Real Estate Owned

Other Real Estate Owned

Note 8—Other Real Estate Owned

The following is a summary of information pertaining to OREO:

	Six Months Ended June 30,
	2017						2016
			Covered						Covered
(Dollars in thousands)	OREO		OREO		Total		OREO		OREO		Total
Beginning balance	$	18,316	$	—	$	18,316	$	24,803	$	5,751	$	30,554
Acquired in SBFC acquisition		385		—		385		—		—		—
Additions		4,947		—		4,947		5,391		2,151		7,542
Transfers		—		—		—		4,222		(4,222)		—
Writedowns		(1,729)		—		(1,729)		(812)		(2,131)		(2,943)
Sold		(7,489)		—		(7,489)		(11,177)		(1,549)		(12,726)
Ending Balance	$	14,430	$	—	$	14,430	$	22,427	$	—	$	22,427

OREO previously classified as covered, which consisted of 17 properties with a carrying value of $4.2 million as of March 31, 2016, became uncovered during the second quarter of 2016 in connection with the Bank’s early termination agreement with the FDIC with respect to all of its outstanding loss share agreements

At June 30, 2017, there were a total of 75  uncovered properties included in OREO.  This compares to 103 uncovered properties included in OREO, at June 30, 2016. At June 30, 2017, the Company had $1.7 million in residential real estate included in OREO and $7.4 million in residential real estate consumer mortgage loans in the process of foreclosure.