Quarterly report pursuant to Section 13 or 15(d)

OTHER REAL ESTATE OWNED

v3.19.3
OTHER REAL ESTATE OWNED
 9 Months Ended
Sep. 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):

   
Nine
Months Ended
September 30,
2019
    
Year
Ended
December 31,
2018
    
Nine
Months Ended
September 30,
2018
  
Beginning balance
  
$
4,183
    
$
9,140
    
$
9,140
  
Additions, transfers from loans
    
—
      
293
      
293
  
Proceeds from sales of other real estate owned
    
(340
)
    
(2,212
)
    
(2,146
)
Valuation allowance reversal upon sale
    
(171
)
    
(2,893
)
    
(2,891
)
Gain / (loss) on sales of other real estate owned
    
79
      
(145
)
    
(158
)
     
3,751
      
4,183
      
4,238
  
Less: valuation allowance
    
(642
)
    
(803
)
    
(773
)
Ending balance
  
$
3,109
    
$
3,380
    
$
3,465
  

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

   
Nine
Months Ended
September 30,
2019
    
Nine
Months Ended
September 30,
2018
  
Beginning balance
  
$
803
    
$
3,373
  
Additions charged to expense
    
10
      
291
  
Reversals upon sale
    
(171
)
    
(2,891
)
Ending balance
  
$
642
    
$
773