Quarterly report pursuant to Section 13 or 15(d)

OTHER REAL ESTATE OWNED

v3.20.1
OTHER REAL ESTATE OWNED
 3 Months Ended
Mar. 31, 2020
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,
2020
    
Year
Ended
December 31,
2019
    
Three
Months Ended
March 31,
2019
  
Beginning balance
  
$
3,112
    
$
4,183
    
$
4,183
  
Additions, transfers from loans
    
—
      
—
      
—
  
Proceeds from sales of other real estate owned
    
(91
)
    
(589
)
    
(154
)
Valuation allowance reversal upon sale
    
—
      
(453
)
    
(77
)
Gain / (loss) on sales of other real estate owned
    
—
      
(29
)
    
45
  
     
3,021
      
3,112
      
3,997
  
Less: valuation allowance
    
(395
)
    
(364
)
    
(736
)
Ending balance
  
$
2,626
    
$
2,748
    
$
3,261
  

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

   
Three
Months Ended
March 31,
2020
    
Three
Months Ended
March 31,
2019
  
Beginning balance
  
$
364
    
$
803
  
Additions charged to expense
    
31
      
10
  
Reversals upon sale
    
—
      
(77
)
Ending balance
  
$
395
    
$
736