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Other Real Estate Owned
9 Months Ended
Sep. 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:

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 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

 

 

11,976

 

 

8,375

 

Writedowns

 

 

(1,185)

 

 

(2,220)

 

Sold

 

 

(10,085)

 

 

(11,329)

 

Ending Balance

 

$

12,119

 

$

13,527

 

 

At September 30, 2018, there were a total of 84 properties included in OREO compared to 67 properties at September 30, 2017.  At September 30, 2018, the Company had $2.2 million in residential real estate included in OREO and $5.2 million in residential real estate consumer mortgage loans in the process of foreclosure.