Annual report pursuant to Section 13 and 15(d)

OTHER REAL ESTATE OWNED

v3.19.3.a.u2
OTHER REAL ESTATE OWNED
 12 Months Ended
Dec. 31, 2019
Other Real Estate [Abstract]  
OTHER REAL ESTATE OWNED

Note 7

OTHER REAL ESTATE OWNED

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

(Dollars in Thousands) 2019 2018 2017
Beginning Balance $ 2,229 $ 3,941 $ 10,638
Additions 1,298 2,140 2,384
Valuation Write-Downs (300) (1,046) (1,318)
Sales (2,274) (2,793) (7,496)
Other - (13) (267)
Ending Balance $ 953 $ 2,229 $ 3,941

Net expenses applicable to other real estate owned for the three years ended December 31, was as follows:
(Dollars in Thousands) 2019 2018 2017
Gains from the Sale of Properties $ (244) $ (2,288) $ (1,054)
Losses from the Sale of Properties 159 307 518
Rental Income from Properties (4) (12) (76)
Property Carrying Costs 335 505 429
Valuation Adjustments 300 1,046 1,318
Total $ 546 $ (442) $ 1,135

At December 31, 2019, the Company had $0.6 million of loans secured by residential real estate in the process of foreclosure.