Quarterly report pursuant to Section 13 or 15(d)

OTHER REAL ESTATE OWNED

v3.19.2
OTHER REAL ESTATE OWNED
 6 Months Ended
Jun. 30, 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):

   
Six
Months Ended
June 30,
2019
    
Year
Ended
December 31,
2018
    
Six
Months Ended
June 30,
2018
  
Beginning balance
  
$
4,183
    
$
9,140
    
$
9,140
  
Additions, transfers from loans
    
—
      
293
      
293
  
Proceeds from sales of other real estate owned
    
(382
)
    
(2,212
)
    
(1,765
)
Valuation allowance reversal upon sale
    
(171
)
    
(2,893
)
    
(2,508
)
Gain / (loss) on sales of other real estate owned
    
79
      
(145
)
    
(132
)

   
3,709
      
4,183
      
5,028
  
Less: valuation allowance
    
(642
)
    
(803
)
    
(1,156
)
Ending balance
  
$
3,067
    
$
3,380
    
$
3,872
  

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


  
Six
Months Ended
June 30,
2019
    
Six
Months Ended
June 30,
2018
  
Beginning balance
  
$
803
    
$
3,373
  
Additions charged to expense
    
10
      
291
  
Reversals upon sale
    
(171
)
    
(2,508
)
Ending balance
  
$
642
    
$
1,156