Annual report pursuant to Section 13 and 15(d)

OTHER REAL ESTATE OWNED (Tables)

v3.20.4
OTHER REAL ESTATE OWNED (Tables)
 12 Months Ended
Dec. 31, 2020
OTHER REAL ESTATE OWNED [Abstract]  
Period-End Other Real Estate Owned
Other real estate owned was as follows (dollars in thousands):

   
2020
    
2019
  
Beginning balance
  
$
3,112
    
$
4,183
  
Additions, transfers from loans
    
—
      
—
  
Proceeds from sales of other real estate owned and repossessed assets
    
(192
)
    
(589
)
Valuation allowance reversal upon sale
    
(202
)
    
(453
)
Gain (loss) on sales of other real estate owned and repossessed assets
    
13
      
(29
)
     
2,731
      
3,112
  
Less: valuation allowance
    
(194
)
    
(364
)
Ending balance
  
$
2,537
    
$
2,748
  
Activity in Valuation Allowance
Activity in the valuation allowance was as follows (dollars in thousands):

   
2020
    
2019
  
Beginning balance
  
$
364
    
$
803
  
Additions charged to expense
    
32
      
14
  
Reversals upon sale
    
(202
)
    
(453
)
Ending balance
  
$
194
    
$
364