Other Real Estate and Repossessed Assets Acquired in Settlement of Loans (Tables)

12 Months Ended

Dec. 31, 2019

Other Real Estate and Repossessed Assets Acquired in Settlement of Loans

Schedule of summary of real estate and other assets acquired in settlement of loans

(in thousands)	2019		2018
Commercial	$	1,155	$	1,168
Real estate construction - residential		—		179
Real estate construction - commercial		11,553		12,101
Real estate mortgage - residential		230		336
Real estate mortgage - commercial		2,799		2,909
Total	$	15,737	$	16,693
Less valuation allowance for other real estate owned		(2,956)		(3,002)
Total other real estate owned	$	12,781	$	13,691

Schedule of changes in the net carrying amount of other real estate owned and repossessed assets

Balance at December 31, 2017	$	16,403
Additions		1,106
Proceeds from sales		(585)
Charge-offs against the valuation allowance for other real estate owned, net		(245)
Net gain on sales		14
Balance at December 31, 2018		16,693
Additions		452
Proceeds from sales		(1,435)
Charge-offs against the valuation allowance for other real estate owned, net		(95)
Net gain on sales		122
Total other real estate owned	$	15,737
Less valuation allowance for other real estate owned		(2,956)
Balance at December 31, 2019	$	12,781

Schedule of summary of activity in valuation allowance for other real estate owned

(in thousands)	2019		2018		2017
Balance, beginning of period	$	3,002	$	3,221	$	3,129
Provision for other real estate owned		49		26		284
Charge-offs		(95)		(245)		(192)
Balance, end of period	$	2,956	$	3,002	$	3,221