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Foreclosed Assets
 9 Months Ended
Sep. 30, 2016
Other Real Estate Owned Net Covered and NonCovered Including Foreclosed Assets [Abstract]  
Foreclosed Assets
Foreclosed Assets
The following table summarizes foreclosed assets as of the dates indicated:
 
September 30,
 
December 31,
Property Type:
2016
 
2015
 
(In thousands)
Commercial real estate
$
—

 
$
487

Construction and land development
13,800

 
13,801

Single family residence
—

 
952

Total other real estate owned, net
13,800

 
15,240

Other foreclosed assets
1,313

 
6,880

Total foreclosed assets, net
$
15,113

 
$
22,120


The following table presents the changes in foreclosed assets, net of the valuation allowance, for the period indicated:
 
Foreclosed
 
Assets
 
(In thousands)
Balance, December 31, 2015
$
22,120

Foreclosures
129

Reductions related to sales
(7,136
)
Balance, September 30, 2016
$
15,113