Note 5 - Other Real Estate Owned

6 Months Ended

Jun. 30, 2016

Notes to Financial Statements

Real Estate Owned [Text Block]

(5

)

Other Real Estate Owned

The aggregate carrying amount of Other Real Estate Owned (OREO) at June 30, 2016 and December 31, 2015 was $10,178 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 six months ended June 30, 2016 and the year ended December 31, 2015.

	Six Months Ended			Twelve Months Ended
	June 30, 2016			December 31, 2015
Balance, Beginning	$	8,839		$	10,402
Additions		3,166			7,536
Sales of OREO		(1,785	)		(8,055	)
Gains (Losses) on Sale		36			(591	)
Provision for Losses		(78	)		(453	)
Balance, Ending	$	10,178		$	8,839

At June 30, 2016, the Company held $1.42 million of residential real estate property as foreclosed property compared to $1.03 million as of December 31, 2015.  Also at June 30, 2016, $1.43 million of consumer mortgage loans collateralized by residential real estate property were in the process of foreclosure according to local requirements of the applicable jurisdictions. At December 31, 2015, only $159 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.