Annual report pursuant to Section 13 and 15(d)

OTHER REAL ESTATE OWNED (Tables)

v3.22.0.1
OTHER REAL ESTATE OWNED (Tables)
 12 Months Ended
Dec. 31, 2021
OTHER REAL ESTATE OWNED [Abstract]  
Period-End Other Real Estate Owned
Other real estate owned was as follows (dollars in thousands):

   
2021
    
2020
  
Beginning balance
  
$
2,731
    
$
3,112
  
Additions, transfers from loans
    
—
      
—
  
Proceeds from sales of other real estate owned and repossessed assets
    
(170
)
    
(192
)
Valuation allowance reversal upon sale
    
(172
)
    
(202
)
Gain (loss) on sales of other real estate owned and repossessed assets
    
(20
)
    
13
  
     
2,369
      
2,731
  
Less: valuation allowance
    
(26
)
    
(194
)
Ending balance
  
$
2,343
    
$
2,537
  
Activity in Valuation Allowance
Activity in the valuation allowance was as follows (dollars in thousands):

   
2021
    
2020
  
Beginning balance
  
$
194
    
$
364
  
Additions charged to expense
    
4
      
32
  
Reversals upon sale
    
(172
)
    
(202
)
Ending balance
  
$
26
    
$
194