Note 5 - Other Real Estate Owned

3 Months Ended

Mar. 31, 2016

Notes to Financial Statements

Real Estate Owned [Text Block]

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)

Other Real Estate Owned

The aggregate carrying amount of Other Real Estate Owned (OREO) at March 31, 2016 and December 31, 2015 was $9,618 and $8,839, respectively. All of the Company’s other real estate owned represents properties acquired through foreclosure or deed in lieu of foreclosure. The following table details the change in OREO for the three months ended March 31, 2016 and the year ended December 31, 2015.

	Three Months Ended			Twelve Months Ended
	March 31, 2016			December 31, 2015
Balance, Beginning	$	8,839		$	10,402
Additions		2,183			7,536
Sales of OREO		(1,366	)		(8,055	)
Gains (Losses) on Sale		40			(591	)
Provision for Losses		(78	)		(453	)
Balance, Ending	$	9,618		$	8,839

At March 31, 2016, the Company held $1.34 million of residential real estate property as foreclosed property.  Also at March 31, 2016, $173 thousand of consumer mortgage loans collateralized by residential real estate property were in the process of foreclosure according to local requirements of the applicable jurisdictions.