Note 10 - Foreclosed Real Estate and Repossessed Personal Property

3 Months Ended

Mar. 31, 2014

Foreclosed Real Estate And Repossessed Personal Property [Abstract]

Foreclosed Real Estate And Repossessed Personal Property [Text Block]

10.     Foreclosed Real Estate and Repossessed Personal Property

Composition

The following table summarizes foreclosed real estate and repossessed personal property at the dates indicated (in thousands). Repossessed personal property is included in Other assets in the Consolidated Balance Sheets.

	March 31, 2014		December 31, 2013
Foreclosed real estate	$	7,490	$	7,502
Repossessed personal property		13		43
Total foreclosed real estate and repossessed personal property	$	7,503	$	7,545

Included in foreclosed real estate at both March 31, 2014 and December 31, 2013 were 77 residential lots with an aggregate net book value of $6.4 million and $6.5 million, respectively, in three separate communities related to one real estate development.

Foreclosed Real Estate Activity

The following table summarizes changes in foreclosed real estate at the dates and for the periods indicated (in thousands).

	At and for the three months ended March 31,
	2014			2013
Foreclosed real estate, beginning of period	$	7,502		$	10,911
Plus: new foreclosed real estate		455			1,270
Less: proceeds from sale of foreclosed real estate		(264	)		(765	)
Plus: gain on sale of foreclosed real estate		43			57
Less: writedowns and losses charged to expense		(246	)		(416	)
Foreclosed real estate, end of period	$	7,490		$	11,057