Quarterly report pursuant to Section 13 or 15(d)

OTHER REAL ESTATE OWNED

v3.19.1
OTHER REAL ESTATE OWNED
 3 Months Ended
Mar. 31, 2019
OTHER REAL ESTATE OWNED [Abstract]  
OTHER REAL ESTATE OWNED
NOTE 4 – OTHER REAL ESTATE OWNED

Other real estate owned was as follows (dollars in thousands):

   
Three
Months Ended
March 31,
2019
    
Year
Ended
December 31,
2018
    
Three
Months Ended
March 31,
2018
  
Beginning balance
  
$
4,183
    
$
9,140
    
$
9,140
  
Additions, transfers from loans
    
—
      
293
      
293
  
Proceeds from sales of other real estate owned
    
(154
)
    
(2,212
)
    
(431
)
Valuation allowance reversal upon sale
    
(77
)
    
(2,893
)
    
(1,787
)
Gain / (loss) on sales of other real estate owned
    
45
      
(145
)
    
(126
)
     
3,997
      
4,183
      
7,089
  
Less: valuation allowance
    
(736
)
    
(803
)
    
(1,866
)
Ending balance
  
$
3,261
    
$
3,380
    
$
5,223
  

Activity in the valuation allowance was as follows (dollars in thousands):

   
Three
Months Ended
March 31,
2019
    
Three
Months Ended
March 31,
2018
  
Beginning balance
  
$
803
    
$
3,373
  
Additions charged to expense
    
10
      
280
  
Reversals upon sale
    
(77
)
    
(1,787
)
Ending balance
  
$
736
    
$
1,866