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Other Real Estate Owned
6 Months Ended
Jun. 30, 2018
Other Real Estate Owned  
Other Real Estate Owned

Note 7—Other Real Estate Owned

 

The following is a summary of information pertaining to OREO:

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30,

 

(Dollars in thousands)

 

2018

 

2017

 

 

 

OREO

 

OREO

 

Beginning balance

 

$

11,203

 

$

18,316

 

Acquired in SBFC acquisition

 

 

 —

 

 

385

 

Acquired in PSC acquisition

 

 

210

 

 

 —

 

Additions

 

 

10,259

 

 

4,947

 

Writedowns

 

 

(932)

 

 

(1,729)

 

Sold

 

 

(3,518)

 

 

(7,489)

 

Ending Balance

 

$

17,222

 

$

14,430

 

 

At June 30, 2018, there were a total of 86 properties included in OREO compared to 75 properties at June 30, 2017.  At June 30, 2018, the Company had $2.8 million in residential real estate included in OREO and $4.6 million in residential real estate consumer mortgage loans in the process of foreclosure.