Other Real Estate Acquired in Settlement of Loans

3 Months Ended

Mar. 31, 2020

Other Real Estate Acquired in Settlement of Loans

Other Real Estate Acquired in Settlement of Loans

(3)   Other Real Estate Acquired in Settlement of Loans

	March 31,		December 31,
(in thousands)	2020		2019
Commercial	$	1,155	$	1,155
Real estate construction - commercial		11,553		11,553
Real estate mortgage - residential		230		230
Real estate mortgage - commercial		2,799		2,799
Total	$	15,737	$	15,737
Less valuation allowance for other real estate owned		(2,968)		(2,956)
Total other real estate owned	$	12,769	$	12,781

Changes in the net carrying amount of other real estate owned were as follows for the periods indicated:

	Three Months Ended March 31,
	2020		2019
Balance at beginning of period	$	15,737	$	16,693
Additions		—		116
Proceeds from sales		—		(248)
Charge-offs against the valuation allowance for other real estate owned, net		—		(38)
Net gain on sales		—		6
Total other real estate owned	$	15,737	$	16,529
Less valuation allowance for other real estate owned		(2,968)		(2,992)
Balance at end of period	$	12,769	$	13,537

At March 31, 2020, $275,000 of consumer mortgage loans secured by residential real estate properties were in the process of foreclosure compared to $252,000 of consumer mortgage loans at December 31, 2019.

Activity in the valuation allowance for other real estate owned was as follows for the periods indicated:

	Three Months Ended March 31,
(in thousands)	2020		2019
Balance, beginning of period	$	2,956	$	3,002
Provision for other real estate owned		12		28
Charge-offs		—		(38)
Balance, end of period	$	2,968	$	2,992