Note 5 - Other Real Estate Owned

9 Months Ended

Sep. 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 September 30, 2016 and December 31, 2015 was $9,812 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 nine months ended September 30, 2016 and the year ended December 31, 2015.

	Nine Months Ended			Twelve Months Ended
	September 30, 2016			December 31, 2015
Balance, Beginning	$	8,839		$	10,402
Additions		3,953			7,536
Sales of OREO		(2,877	)		(8,055	)
Gains (Losses) on Sale		23			(591	)
Provision for Losses		(126	)		(453	)
Balance, Ending	$	9,812		$	8,839

At September 30, 2016, the Company held $922 thousand of residential real estate property as foreclosed property compared to $1.03 million as of December 31, 2015.  Also at September 30, 2016, $1.15 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.