Other Real Estate Owned

3 Months Ended

Mar. 31, 2021

Other Real Estate [Abstract]

Other Real Estate Owned

NOTE F - OTHER REAL ESTATE OWNED

The following table explains changes in other real estate owned (“OREO”) during the three months ended March 31, 2021 and 2020:

(Dollars in thousands)	OREO
Balance at December 31, 2020	$	50,890
Additions	7,106
Sales	(8,102)
Write-downs/losses	(1,382)
Balance at March 31, 2021	$	48,512
Balance at December 31, 2019	$	46,591
Additions	5,987
Acquired in business combinations	9,813
Sales	(5,321)
Write-downs/losses	(1,363)
Balance at March 31, 2020	$	55,707

At March 31, 2021 and December 31, 2020, BancShares had $6.5 million and $5.8 million, respectively, of foreclosed residential real estate property in OREO. The recorded investment in consumer mortgage loans collateralized by residential real estate property in the process of foreclosure was $27.1 million and $29.4 million at March 31, 2021 and December 31, 2020, respectively. Net gains recorded on the sale of OREO properties were $1.8 million for the three months ended March 31, 2021. Net losses recorded on the sale of OREO properties were $0.1 million for the three months ended March 31, 2020