Quarterly report pursuant to Section 13 or 15(d)

OTHER REAL ESTATE OWNED (Tables)

v3.8.0.1
OTHER REAL ESTATE OWNED (Tables)
3 Months Ended
Mar. 31, 2018
OTHER REAL ESTATE OWNED [Abstract]  
Period-End Other Real Estate Owned
Other real estate owned was as follows (dollars in thousands):
 
   
Three
   
Year
   
Three
 
   
Months Ended
   
Ended
   
Months Ended
 
   
March 31,
   
December 31,
   
March 31,
 
   
2018
   
2017
   
2017
 
Beginning balance
 
$
9,140
   
$
22,864
   
$
22,864
 
Additions, transfers from loans
   
293
     
120
     
56
 
Proceeds from sales of other real estate owned
   
(431
)
   
(7,034
)
   
(320
)
Valuation allowance reversal upon sale
   
(1,787
)
   
(7,367
)
   
(250
)
Gain / (loss) on sales of other real estate owned
   
(126
)
   
557
     
149
 
     
7,089
     
9,140
     
22,499
 
Less: valuation allowance
   
(1,866
)
   
(3,373
)
   
(10,425
)
Ending balance
 
$
5,223
   
$
5,767
   
$
12,074
 
Activity in Valuation Allowance
Activity in the valuation allowance was as follows (dollars in thousands):

 
Three
 
Three
 
 
Months Ended
 
Months Ended
 
 
March 31,
 
March 31,
 
 
2018
 
2017
 
Beginning balance
 
$
3,373
   
$
10,611
 
Additions charged to expense
   
280
     
64
 
Reversals upon sale
   
(1,787
)
   
(250
)
Ending balance
 
$
1,866
   
$
10,425