Other Real Estate Owned (Tables)

12 Months Ended

Dec. 31, 2021

The following table explains changes in other real estate owned (“OREO”) for the years ended December 31, 2021 and 2020.


(Dollars in thousands)	2021		2020
Balance at January 1	$	50,890	$	46,591
Additions	27,755		26,822
Acquired in business combinations	—		9,813
Sales	(35,703)		(26,726)
Write-downs/losses	(3,614)		(5,610)
Balance at December 31	$	39,328	$	50,890

At December 31, 2021 and 2020, BancShares had $2.3 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 $15.0 million and $29.4 million at December 31, 2021, and 2020, respectively. Gains recorded on the sale of OREO were $4.7 million, $1.6 million, and $1.5 million for the years ended December 31, 2021, 2020 and 2019, respectively.