Quarterly report pursuant to Section 13 or 15(d)

OTHER REAL ESTATE OWNED

v3.21.1
OTHER REAL ESTATE OWNED
 3 Months Ended
Mar. 31, 2021
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,
2021
    
Year
Ended
December 31,
2020
    
Three
Months Ended
March 31,
2020
  
Beginning balance
  
$
2,731
    
$
3,112
    
$
3,112
  
Additions, transfers from loans
    
—
      
—
      
—
  
Proceeds from sales of other real estate owned
    
(148
)
    
(192
)
    
(91
)
Valuation allowance reversal upon sale
    
(94
)
    
(202
)
    
—
  
Gain / (loss) on sales of other real estate owned
    
(14
)
    
13
      
—
  
     
2,475
      
2,731
      
3,021
  
Less: valuation allowance
    
(104
)
    
(194
)
    
(395
)
Ending balance
  
$
2,371
    
$
2,537
    
$
2,626
  

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

   
Three
Months Ended
March 31,
2021
    
Three
Months Ended
March 31,
2020
  
Beginning balance
  
$
194
    
$
364
  
Additions charged to expense
    
4
      
31
  
Reversals upon sale
    
(94
)
    
—
  
Ending balance
  
$
104
    
$
395