Annual report pursuant to Section 13 and 15(d)

OTHER REAL ESTATE OWNED

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OTHER REAL ESTATE OWNED
 12 Months Ended
Dec. 31, 2017
Other Real Estate [Abstract]  
OTHER REAL ESTATE OWNED

Note 6

OTHER REAL ESTATE OWNED

The following table presents other real estate owned activity as of December 31,

(Dollars in Thousands) 2017 2016 2015
Beginning Balance $ 10,638 $ 19,290 $ 35,680
Additions 2,384 4,016 5,752
Valuation Write-Downs (1,318) (2,363) (1,713)
Sales (7,496) (10,305) (20,155)
Other (267) - (274)
Ending Balance $ 3,941 $ 10,638 $ 19,290

Net expenses applicable to other real estate owned as of December 31, was as follows:
(Dollars in Thousands) 2017 2016 2015
Gains from the Sale of Properties $ (1,054) $ (410) $ (938)
Losses from the Sale of Properties 518 1,272 2,169
Rental Income from Properties (76) (88) (250)
Property Carrying Costs 429 511 2,277
Valuation Adjustments 1,318 2,364 1,713
Total $ 1,135 $ 3,649 $ 4,971

At December 31, 2017, the Company had $0.9 million of loans secured by residential real estate in the process of foreclosure.