Foreclosed Assets

3 Months Ended

Mar. 31, 2017

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:

	March 31,		December 31,
Property Type	2017		2016
	(In thousands)
Construction and land development	$	11,224	$	11,224
Multi‑family	601		652
Commercial real estate	78		—
Total other real estate owned, net	11,903		11,876
Other foreclosed assets	939		1,100
Total foreclosed assets, net	$	12,842	$	12,976

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, 2016	$	12,976
Foreclosures	78
Reductions related to sales	(212		)
Balance, March 31, 2017	$	12,842