Quarterly report pursuant to Section 13 or 15(d)

OTHER REAL ESTATE OWNED (Tables)

v3.8.0.1
OTHER REAL ESTATE OWNED (Tables)
9 Months Ended
Sep. 30, 2017
OTHER REAL ESTATE OWNED [Abstract]  
Period-End Other Real Estate Owned
Other real estate owned was as follows (dollars in thousands):
 
   
Nine
   
Year
   
Nine
 
   
Months Ended
   
Ended
   
Months Ended
 
   
September 30,
   
December 31,
   
September 30,
 
   
2017
   
2016
   
2016
 
Beginning balance
 
$
22,864
   
$
28,377
   
$
28,377
 
Additions, transfers from loans
   
60
     
339
     
102
 
Proceeds from sales of other real estate owned
   
(6,227
)
   
(5,339
)
   
(4,155
)
Valuation allowance reversal upon sale
   
(7,003
)
   
(1,158
)
   
(533
)
Gain on sales of other real estate owned
   
660
     
645
     
365
 
     
10,354
     
22,864
     
24,156
 
Less: valuation allowance
   
(3,693
)
   
(10,611
)
   
(11,046
)
Ending balance
 
$
6,661
   
$
12,253
   
$
13,110
 
Activity in Valuation Allowance
Activity in the valuation allowance was as follows (dollars in thousands):

 
Nine
 
Nine
 
 
Months Ended
 
Months Ended
 
 
September 30,
 
September 30,
 
 
2017
 
2016
 
Beginning balance
 
$
10,611
   
$
10,805
 
Additions charged to expense
   
85
     
774
 
Reversals upon sale
   
(7,003
)
   
(533
)
Ending balance
 
$
3,693
   
$
11,046